Section One Directions:In this section, you will hear ten short statements. Each statement will he spoken only once. After each statement, there will be a pause. During the pause, you must read the four suggested answers marked A, B, C and D, and decide which is the best answer.
1.
A.People can draw the money on CDs whenever they want.
B.People can sell their CDs in the money market whenever they want.
C.A CD is a demand deposit as opposed to a term security.
D.CDs don't have a specified maturity date.
A B C D
B
[解析] Although CDs cannot be withdrawn, they can be marketed, that is sold, at any time. 单句意思为“可转让定期存单不能随便提取,但可以任意买卖。”B项正确, 其他选项均表述错误。
2.
A.The Bank of China is not a state-owned enterprise.
B.The Bank of China is a foreign exchange bank.
C.The Bank of China is not a foreign exchange bank.
D.The Bank of China is not very important.
A B C D
B
[解析] The bank of China is a state-owned enterprise and is a specialized foreign exchange bank of the People's RepubliC of China. 单句意思为“中国银行是国有商业银行,它是中国的外汇专业银行。”
3.
A.The amount on the cheque is larger than in the account.
B.The car can be covered with your cheque.
C.The cheque you wrote can not cover the car.
D.The amount on your cheque is just that in your account.
A B C D
A
[解析] I'm afraid there isn't enough money in your account to cover the cheque you wrote for your new car. 单句意思为“恐怕您账户里余额不足,您所开的支票无力购买此新车。”
4.
A.The bank must take the purpose of loan into consideration carefully.
B.The bank wonders if the loan is used for illegal or speculative purpose.
C.The bank worries that the loan is used for illegal or speculative purpose.
D.The bank must consider a way for the loan to be used for speculative purpose.
A B C D
A
[解析] The bank must consider carefully whether the loan is to be used in any illegal activity or for speculative purpose. 单句意思为“银行必须仔细审查,看贷款是否是用于非法活动或是投机行 为。”
5.
A.The discount rate and the stock prices move in the same direction.
B.The discount rate and the stock prices move in the adverse directions.
C.When the Fed raises stock prices, the discount rate is likely to move downward.
D.When the Fed lowers stock prices, the discount rate tends to rise.
A B C D
B
[解析] Historically, when the Fed lowers the discount rate, stock prices tend to rise when the Fed raises the discount rate. stock prices are likely to move downward. 根据录音可知,股票价格随着贴现率的变化而变化,且方向相反。
6.
A.They will write to their home.
B.They will write to their headquarter.
C.They will ask for their rights.
D.They will wait for an officer.
A B C D
B
[解析] They will write to their home office to waive their claim. 单句意思为“他们将写信给他们的总公司,告之将放弃他们的索赔。”
7.
A.If a shareholder owns more shares, he can receive more cash dividends.
B.Cash dividends are paid to each shareholder on the date of declaration.
C.The number of shares has little impact on cash dividends paid to each shareholder.
D.Cash dividends will be paid from the proceeds of the share issuance.
A B C D
A
[解析] Cash dividends are paid to each shareholder based on the number of shares that a shareh01der owns. 单句意思为“现金股利的支付额要基于股东拥有的份额”。
8.
A.The banks have an incalculable liability under the documentary credit revolving in value.
B.The banks prefer to issue the documentary credit revolving in value.
C.The buyer has less liability under the documentary credit revolving in value.
D.The banks are involved in less liability by issuing the documentary credit revolving in value.
A B C D
A
[解析] A revolving documentary credit in relation to value involves the buyer and the banks in an incalculable liability. 单句意思为“有一定价值的可循环跟单信用证使得买方和银行要承担不可计 量的债务。”
9.
A.If future contracts are standardized, brokers would not assess contract specifi cations.
B.As long as future contracts are standardized, floor trading would be made slow accordingly for brokers to evaluate contract specifications.
C.Whether future contracts are standardized or not, floor trading will not be influenced.
D.Futures contracts must be standardized, otherwise, floor trading would be made very slowly since specifications of each contract would be assessed.
A B C D
D
[解析] Future contracts have to be standardized. or floct trading would be slowed down considerably as brokers would have to assess contract specifications. 单句意思为“期货合约必须标准化,否则场内交易将会大大地减慢,因为经 纪人要对合同的各种细则进行评估。”
10.
A.We paid you early as required.
B.Your documents came to us as required.
C.Your documents have been correctly presented as required.
D.You did not present the documents as required.
A B C D
D
[解析] We found that the documents we received did not comply with the requirements. 单句意思为“我们发现我们收到的单据与所要求的不一致。”
Section Two Directions:In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation andquestion will be spoken only once. During the pause, you must read the four choicesmarkedA, B, C, D, and decide which is the best answer.
1.
A.Customs officer and travelers.
B.Employer and employee.
C.Business associates.
D.Bank clerk and customer.
A B C D
D
[解析] W: Since I have some spare cash in my account, I would like to open a time deposit account here. Can you give me some information please? M: With pleasure. We have many kinds of time deposit accounts: 1 month, 3 month, 6 month and 1 year. Q: What is the possible relationship between the two speakers? 根据对话,女士是想开立一个定期存款账户,并请求对方提供相关信息,男 士则介绍了几种定期存款账户类型,由此可推知两者为银行职员与客户之间的关 系。
2.
A.4%.
B.4.5%.
C.5%.
D.5.5%.
A B C D
C
[解析] W: Well. yes. What about interests on those accounts? I'm interested in fixed time deposits accounts. M: There are three kinds of fixed deposits, Madame. They are three-month, six-month and twelve-month deposits. The interest on a three-month deposit is 4.5% per annum. on six month 5%. on twelve month 5.5%. Q: What is the interest rate on a six month deposit? 根据男士回答“On six month 5%”,可知答案为C选项。
3.
A.July.
B.August.
C.September.
D.October.
A B C D
C
[解析] M: We have agreed on the terms of payment. Is it possible to effect shipment in August??? W: I'm afraid not. Mid September. I think. Q: When is the earliest possible time of shipment? 当男士问八月是否能出货时,女士给予了否定回答,她认为可能要到“Mid September”,所以选项C为正确项。
4.
A.Rate on the personal loan.
B.Base rate of the bank.
C.The amount of payment.
D.Personal loan's time period.
A B C D
A
[解析] M: The rate on a personal loan is fixed according to the base rate at the time when the loan is made. W: But it is always higher than the base rate, isn't it? Q: What is determined when a personal loan is made? 根据对话中“The rate on a personal loan is fixed”可知A项正确。
5.
A.Profit and Joss
B.Owner's equity.
C.Liabilities
D.Assets.
A B C D
A
[解析] M: Can you tell me something about a balance sheet? W: Yes. It is divided into three sections: assets, liabilities, and owner's equity and it is used to sullmlarize a company's financial position on a given date. Q: Which of the following is not a section of a balance sheet? 根据女士回笞资产负债表分为三部分,即“assets”,“liabilities”和 “owner's equity”,A项未提及。
6.
A.To endorse his cheques.
B.To show his passport.
C.To cash some traveler's cheques.
D.To open a checking account.
A B C D
C
[解析] M: May I cash these traveler's checks for $300 here? W: Of course. Would you please countersign them here? Also write place and date as specified. Q: What does the man want to do according to the conversation? 根据男士的话,他是想“cash these traveler's checks”,所以选项C正确。
7.
A.To withdraw some money.
B.To exchange some foreign currencies.
C.To discount some bills.
D.To cash some traveler's checks.
A B C D
C
[解析] M: Bank of China. May I help you9 W:Yes.please.I'd like to get some information about discounting a bill of exchange. Q: What does the customer want to do.? 根据女士回答,她是想获得一些关于汇票贴现方面的信息,可见她是想将汇 票贴现。
8.
A.Presentation of bill of exchange for payment.
B.Documents required for a collection operation.
C.Application for a letter of credit.
D.What are contained in a collection order.
A B C D
B
[解析] M: Well. what other documents shall I hand in to your bank besides billS of lading? W: A Sight draft, an insurance policy, and a collection order which contains instructions on collection operation to our bank. Q: What are they talking about??? 男士问对方,除了递交提单外还得递交哪些单据。女士的回答是"a sight draft","an insurance policy",and " a collection order",即即期汇票、 保险单及托收委托书,由此可推知答案为B。
9.
A.700 yuan.
B.600 yuan.
C.650 yuan.
D.750 yuan.
A B C D
A
[解析] M:I'm leaving for America and still have some RMB with me. There is about 700 yuan left. Can I change it back into US dollars? W: Yes, we can convert your leftover RMB back into foreign money. Q: How much RMB yuan does the customer want to exchange for US dollars? 男士是想将人民币兑换外币,并说他还剩 "700 yuan",所以A选项正确。
10.
A.Every month.
B.Every quarter.
C.Every year.
D.Half a year.
A B C D
B
[解析] M: Do you keep the transferred amount in a special account that I can't contr017 W: Yes, we keep those balances in a tax accrual trust account specifically reserved for tax payments. Usually the balances will be used every quarter for tax liability payments. Q: How often will the balance be used for tax liability payments? 根据女士同答"the balances will be used every quarter",可知答案应为 B选项。
Section Three
Passage One
1.
A.With little concern.
B.With calm.
C.With great interest.
D.With confusion.
A B C D
B
[解析] The Tokyo stock market responded calmly yesterday to the collapse of two Japanese financial institutions,with prices finishing higher on strength in high-tech issues. The US dolfar fell back against the Japanese yen. The dol far started higher in Tokyo amid concern about the collapse of the nation's largest credit union and Hyogo Bank, a regional bank based in Kobe. It reached 99.40 yen at one point, its highest level since 99.45 yen on February 8. At late afternoon, the dolfar was traded at 97.46 yen, down 1.32 yen from late Wednesday in Tokyo and also sharply below its overnight New York level of 99.01 yen.The US currency ranged in Tokyo between 96.82 yen and 99.40 yen. Meanwhile. share price rose as higher future prices and rising high-tech issues supported the whole market. Export-related high-tech stocks have gained Significantly, supported by the stronger dollar. How did the Tokyo stock market respond to the collapse of two Japanese financial institutions? 录音原文提到The Tokyo stock market responded calmly yesterday to the collapse of two Japanese financial institutions,…东京股票交易所昨天对日本两大金融机构破产的消息反应平静。
2.
A.99.40 yen.
B.97.46 yen.
C.99.01 yen.
D.96.82 yen.
A B C D
B
[解析] What was the price of the dol far against Japanese yen at late afternoon? 录音原文提到At late afternoon, the dollar was traded… also sharply below its overnight.在下午晚些时候,美元对日元价格为97.46uSD/JYP,与上星期三相比,下降了1.32日元,当然隔夜汇率也急剧下降。
3.
A.Share price.
B.High-tech stocks.
C.Japanese yen.
D.Most of the stocks.
A B C D
B
[解析] What kind of stocks has risen in the Tokyo stock market? 录音原文最后提到Export-related high-tech stocks have gained significantly,supported by the stronger dolfar。与出口相关的高科技股受美元强劲影响,股价明显上涨。
Passage Two
1.
A.Business development loans.
B.House improvement loans.
C.Farm development loans.
D.Overdrafts.
A B C D
D
[解析] Some banks offer other types of loans repayable by monthly installments, such as business development loans, house improvement lcans, and farm development lcans. These may be either secured or unsecured.Secured lcans attract a slightly lower rate of interest than unsecured lcans. Some banks offer revolving credit schemes. These normally involve lcans repayable by regular monthly instal lments, but they differ from other lcans repayable by installments in two respects. First, the borrower need not take up the full amount of the lcan at the outset. Secondly. as his repayments reduce hiS indebtedness. he can" top up" hiS lcan by borrowing more, provided that the total debt outstanding does not exceed his agreed credit 1imit. In 1967 some banks introduced a new form of account called a'budget account'. The object is to al low personal customers to spread the incidence of normal personal and household expenditure. Which of the following lcans is not repaid by installments? 录音原文一开始提到Some banks offer…and farm development loans.一 些银行推出其他种类按月分期还款的贷款,例如商业发展贷款、住房改善贷款和 农业发展贷款。
2.
A.Secured loans.
B.Unsecured loans.
C.Business development loans.
D.House improvement loans.
A B C D
A
[解析] Which of the following loans would attract a lower rate of interest? 录音原文提到Secured loans attract a slightly lower rate of interest than unsecured loans. 抵押贷款获得比信用贷款更低的利率。
3.
A.By taking up the full amount of the loan.
B.By borrowing more.
C.By stopping borrowing.
D.By reducing his indebtedness.
A B C D
B
[解析] How does a borrower"top up"his loan? 录音原文提到Secondly, as his repayments reduce…exceed his agreed credit limit. 在借款人未清偿总债务没有超过事先商定好的信用额度前提下, 由于还款减少了债务,他可以通过借入更多款项积累贷款额。
4.
A.To allow personal customers to spread the incidence of normal personal and household expenditure.
B.To make the payment of fuel bills, rates, season tickets.
C.To pay ear insurance and school fees by installments.
D.To transfer some amount by twelve equal monthly installments.
A B C D
A
[解析] What is the objective of introduction of the budget account? 录音原文提到In 1967 some banks introduced…household expenditure. 1967年,一些银行引入一种新的账户,名为预算账户。其目的在于扩大个人支 出贷款和住房支出贷款的影响范围。
Passage Three
1.
A.2.
B.5.
C.4.
D.3.
A B C D
D
[解析] If you want to invest money at short term, you've got several possibilities: first, a current account. ThiS gives you the possibility of having all your money at your immediate disposal. It also entitles you to a cheque-book. Second, you've got a deposit account,which usually pays about 3.5%interest. less tax. In that respect. a deposit account's a better investment than a current account. However. though you are entitled to a cheque book,you can only withdraw up to a certain sum each month. For large amounts, you must give the bank a few months' notice.Finally, you have certificares of deposit.These pay in the order of 6.5% interest. How many possibilities are there for a customer to invest money at short term? 综合整篇录音原文,它提first, …Second,… Finally,… 因此推断出客 户可采用三种方法进行短期投资。
2.
A.Certificates of deposit.
B.Deposit account.
C.Current account.
D.Both B and C.
A B C D
A
[解析] With what kind of deposit can a customer NOT use a cheque-book? 录音原文提到的三种方法包括活期存款、储蓄存款、大额存单,只有大额存 单不能使用支票簿,其他两种部提到了,尽管有所差别。
3.
A.3.55%.
B.1.5%.
C.3.5%.
D.3.75%.
A B C D
C
[解析] What is the interest rate for maintaining a deposit account? 录音原文提到Second, you've got a deposit account, which usually pays about 3.5%interest, less tax. 储蓄存款支付税前利率3.5%。
Part Two Reading
Section One Directions:There are three passages in this section. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C and D.
Passage 1 Fractional reserve banking is the practice of keeping only a traction of deposits in the form of reserves. Depository institutions (commercial banks, savings and loan associations, mutual savings banks, and credit unions) are able to do this because only a small fraction of their depositors is expected to turn up during any given day or week to withdraw their deposits. The bulk of deposits is invested in financial assets, from which the depository institutions earn most of their income. Those income-earning financial assets range from bills, notes, and bonds issued by private corporations and by the federal, state, and municipal governments to mortgage loans for housing. Each type of financial institution has a different type of portfolio of assets, which reflects their area of special expertise in managing financial assets. To demonstrate how depository institutions create money under the present system of fractional reserve banking, hypothetical example of a commercial bank, Southwest National Bank, will be used. It is assumed that federal regulations require Southwest National Bank to hold a percentage of its deposits in the form of cash reserves. This is the reserve requirement. The reserves may be held in the form of currency and coin on the premises, a form of reserves called vault cash, or they may be held in a deposit at a regional Federal Reserve Bank. Assume that the Southwest National Bank management, taking into account the reserve requirement and the projected amount of withdrawals arid deposits, decides to keep 20 percent of its deposits in rescues.
1. Why do the depository institutions have the fractional reserve banking?
A.Because they can keep a large amount of deposits from their depositors in the form of reserves.
B.Because most of their depositors would withdraw their deposits.
C.Because only a small fraction of their depositors would deposit money during a day or week.
D.Because they can meet the need of withdrawing of their depositors and make investments in other financial assets.
A B C D
D
文章第一段提到Depository institutions…week to withdraw their deposits。存款准备金是指金融机构为保证客户提取存款和资金清算需要而准备的在中央银行的存款。存款机构能这样做是因为存款者在不定的时间内会提取存款。只有D选项的意思是与题意相符。
2. What is the main source of income of the depository institutions?
A.Different types of portfolio.
B.Bills, notes and bonds.
C.Deposits invested in financial assets.
D.Large amount of assets.
A B C D
C
文章第二段提到Those income-earning financial assets…mortgage loans for housing。银行的收入来源很广,包括与个人与签订的bills, notes, and bonds等等,概括起来就是Deposits invested in financial assets。
3. How can we know the management of financial assets?
A.From the assets' area of special expertise.
B.From the portfolio of the assets.
C.From the scale of the assets.
D.From the reserve banks.
A B C D
B
文章第二段提到a different type of portfolio of assets…in managing financial assets。资产组合能反映一定地区的资产管理状况。
4. In what form are the reserves required to he held?
A.In the form of currency and coin on the premises.
B.In the form of vault cash.
C.In a deposit at a regional Federal Reserve Bank.
D.All of the above.
A B C D
D
文章第三段提到The reserves may be held…at a regional Federal ReserveBank.存储金所采取的形式有通货的形式,有备用金的形式和联邦银行存款的形式。
5. What is the reserve requirement?
A.The requirement for cash reserves.
B.The requirement for deposits in cash.
C.The percentage of a bank's deposits in the form of cash reserves.
D.The requirement of a bank to deposit a percentage of money.
A B C D
C
文章倒数第二段提到It is assumed that…This is the reserve requirement. 采取的是现金的形式。
Passage 2 Term loans are designed to fund long-and-medium-term business investments, such as the purchase of equipment or the construction of physical facilities, covering a period longer than one year. Usually the borrowing firm applies for a lump-sum loan based on the budgeted cost of its proposed project and then pledges to meet the scheduled repayment in a series of installments (often payments are made every quarter or even monthly). Thus, term loans look to the flow of future earnings of the business firm to amortize and retire the credit. The schedule of installment payments is usually structured with the borrower's normal cycle of cash inflows and outflows firmly in mind. For example, there may be' blind spots' built into the repayment schedule, so there will be no installment payments due at those times of the year when the customer is short of cash. However, these payment must be made up later, when cash is more abundant. Some term loan agreements do not call for repayment of loan principal until the end of the loan period, for example, in a' bullet loan', only interest is paid periodically, with the full principal due when the loan matures. Term loans normally are secured by fixed assets (e. g. premises, equipment, furniture and fixtures) owned by the borrower and may carry either a fixed or floating interest rate. That rate normally is higher than on short-term business loans, due to the greater risk exposure to the bank from such loans. Certainly the probability of default or other adverse changes in the borrower's position is greater over the course of a long-term loan.
1. Term loans can be used to fund ______.
A.the purchase of inventory
B.the purchase of equipment covering a period over one year
C.the purchase of building materials
D.securities dealers to purchase new securities
A B C D
B
第一段第一句指出Term loans are designed to… covering a period longerthan one year,意思是定期贷款是为企业的中长期投资融资的,例如购买使用期限超过一年的设备以及实体设备的建造。inventory存货。building materials建筑原材料。securities证券。
2. Usually the borrowing firm of term loans promises to repay ______.
A.the principal and interest until the end of the loan period
B.the principal and interest at the end of the loan period
C.the loan in a series of installments
D.at any time when cash is more abundant
A B C D
C
第一段第二句后半句…and then pledges to meet the seheduled repayment in a series of instaliments(often payments are made every quarter or even monthly),意指借款企业向银行保证分期还款,通常是按月或者按季度分期还款。 Instaliment分期还款。
3. Repayment of the term loan relies on ______.
A.the net inflow of future funds of the assets financed
B.the net outflow of the future funds of the assets financed
C.the total assets of the borrowing firm
D.the total liabilities of the borrowing firm
A B C D
C
第三句指出Thus, term loans look…to amortize and retire the credit,意 思是说定期贷款的偿还指望借款企业未来一系列收益。amortize and retire the credit偿还贷款。look to指望。倒数第三句Term loans normally are secured by fixed assets…意指固定资产可以保证贷款的偿还。结合两者可以推出定期贷款的偿还依靠借款企业的全部资产。
4. Which of the following can secure a term loan?
A.Securities.
B.Land and building.
C.Accounts receivable.
D.Inventory.
A B C D
B
倒数第三句Term loans normally are secured by fixed assets…owned by the borrower and …意指定期贷款通常由借款人的固定资产来提供可靠的保证,例如固定设备和房地产等。
5. The best Headline of this passage would be ______.
A.Loans Provided by Banks
B.Long-term Project Loans
C.Credit Financing
D.Term for Loans
A B C D
D
整篇文章部在讲定期贷款,因此D才能概括全文主旨。
Passage 3 Security is required on loans for several reasons. One of the most common is probably the borrower's financial weakness. Such weakness may be indicated by several factors, including heavy obligations to creditors, poor management, and insufficient income. Borrowers in this financial condition can strengthen their credit by pledging certain assets. Having a secured loan may also be a psychological advantage for a bank. As long as the borrower has greater equity in the pledged assets than does the bank and the bank is in a preferred position and can foreclose in the event the loan agreement is broken, the borrower has a strong incentive to repay the obligation. The length ofaloanalsohas abearingonwhether it will be secured. As the term of the loan lengthens, the risk of non-repayment increases. Loans for purchasing real estate are nearly always secured, especially if the funds are borrowed for long periods of time, because of risk of non-repayment. Unsecured loans are based more exclusively on the borrower's integrity and financial condition, expected future income, and past record of repayment. Contrary to popular belief, the largest loans and the greatest dollar volume of loans made by some banks are often granted on an unsecured basis. The largest commercial borrowers are able to borrow on an unsecured basis. Some companies are considered by banks to be prime borrowers, and in many cases they receive the most favorable interest rate. Such companies have competent management, products and services that are well accepted in the marketable, relatively stable profits, and a strong financial condition. They provide their banks with financial statements from which it is relatively easy to determine their financial condition and keep track of their progress. Business firms are not the only ones who borrow on an unsecured basis—many individuals enjoy this privilege. Persons who own their homes, have a steady job which they have held for years, and have a record of prompt payment both at the bank and at retail stores are commonly in a position to borrow on an unsecured basis. An applicant's ability and willingness to pay are projected into various situations.
1. According to the passage, which of the following about the borrower's financial weakness is false?
A.Past record of repayment.
B.Low profitability.
C.Poor management.
D.Heavy obligations to creditors.
A B C D
A
文章第一段提到One of the most common…and insufficient income. 说明借款人财务状况不佳的因素是由于公司管理不善、对债权人的大量债务,以及收入水平低。因此,A选项错误。
2. Security is required on loans so that ______.
A.the lending bank can enjoy higher interest receipts from the loan
B.the borrower is more willing to pay back the money
C.the funds borrowed will be repaid within a shorter period of time
D.more prime borrowers are attracted
A B C D
B
文章第一段提到As long as the borrower…strong incentive to repay the obligation. 发放贷款时银行要求借款人提供抵押是为了提高贷款的安全性,在心理上给予银行一定的安全感,一般借款人在提供抵押品之后其还款意愿会有所提高。
3. According to the passage, unsecured loans are granted on the basis of ______.
2. ______ is an order to pay a specified amount of money to the bearer on a given date.
A.A client's acceptance
B.A banker's acceptance
C.An importer's acceptance
D.An exporter's acceptance
A B C D
B
bearer持票(据)人。banker's acceptance银行承兑。
3. The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______.
A.the price levels of the two countries
B.the current account balances of the two countries
C.the fiscal policies of the two countries
D.the trade balances of the two countries
A B C D
A
the theory of purchasing power parity购买力平价理论。这一理论的要点是: 两国货币的汇率取决于两种货币在这两国的购买力之比即价格之比。
4. The more popular money market instruments are the followings except ______.
A.treasury bills
B.commercial papers
C.repurchase agreements
D.debentures
A B C D
D
最常见的货币市场工具有:国库券(treasury bilis)、银行同行斥借(inter. bank market)、商业票据(conmlercial paper)、可转让定期存单(negotiable certificares of deposit)、同购协议(repurchase agreements)和银行承兑汇 票(Banker's acceptances)。债券(debenture)属于资本市场工具。
5. Advances to the importer can be given in the following ways except ______.
A.limits for issuing letters of credit
B.inward bill receivables
C.packing loans
D.delivery against bank guarantee
A B C D
D
对进口商融资(advance)的方式包括:打包贷款(packing loans)、进口押汇 (Inward Bill Receivables)以及开出信用证。进口押汇指开证行收到单据后, 如单证相符,或虽有不符点,但申请人及开证行双方部同意接受,应开证申请人 申请,开证行向议付行或交单行偿付。delivery against bank guarantee银行 保证交割。
6. Individuals and businesses compute their ______ based on their recorded earnings.
A.deferred tax
B.sales tax
C.income tax
D.corporation tax
A B C D
C
income tax所得税。deferred tax递延税款。sales tax销售税额。corporation tax公司税。
7. ______ can obtain packing loan from a bank when it receives the letter of credit issued in its favour, but the finance available will not usually exceed ______ of the L/C amount.
9. Find the interest on US $ 65,000 for 14 days at 3 percent per annum. ______
A.US$37.91.
B.US$75.83.
C.US$113.74.
D.US$227.49.
A B C D
B
at 3 per cent per annum按年利率百分之三计算 其中,I=interest,P=principal(本金),N=number of days(天数),R=rate, per annum(年利率),计算时要注意英国按365天计,中国和美国等按360天计。
10. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses its business.
A.advances to customers
B.share capital
C.investments
D.sources of the funds
A B C D
D
资产负债表(balance sheet)上的负债(liabilities)是企业的资金来源 (sources of the funds)之一。advance to customers给客户的贷款。share capital股本。
Section Three Directions:There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D.
Passage One Foreign exchange markets are electronic communication systems that 1 major financial centers throughout the world. Exchange rates are determined 2 supply and demand relationships, relative interest rate levels, relative 3 of inflation, political risk, and economic risk. Alternatives 4 affecting settlement of purchase and sales claims were explored 5 with the instruments available to exporters and importers for financing their international activities.
Passage Two A derivative is a security which "derives" its value from another underlying 1 instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as 2 contracts and various indexes. Derivatives give the buyer greater leverage for a 3 cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a 4 of securities against losses. However, because derivatives have a date of 5 ,the level of risk is greatly increased in relation to their term. One of the simplest forms ofaderivative is a stockoption. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time.
Section Four Directions:Read the following passages and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong", choose "Doesn't say".
Passage One There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. The reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are waded in secondary markets. Firms that specialize in trading either new or reissued financial assets are called primary secondary dealers, respectively.
1. A financial market may be thought of as ordinary market in which traders may buy or sell particular financial commodities.
A.Right
B.Wrong
C.Doesn't say
A B C
C
第一段第二句仅指出a market is thought of…who conduct trades in particular conmlodities or services,并没有提及金融市场可以被看作普通商 品市场一样。
2. A market may also be virtual, which is connected by phones on Internet.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第一段第四句指出A market may be organized over wide areas connected through phones or computer terminals,通过电话和电脑终端方式运行的市场 就是虚拟(virtual)市场。
3. We can learn from the second paragraph of the passage that there are some equations of market which can explain the demand and supply of the currency of a country.
A.Right
B.Wrong
C.Doesn't say
A B C
B
结合第二段第二、三句,意指在经济模型中有许多解释货币供需的等式联合求解, 且货币供需的理由很详细以确保每个等式成立,但并不像题中所说的有些等式可 以解释一国的货币供求(the demand and supply of the currency)。
4. If a consumer wants to sell his CDs before the maturity date, he would do it in the primary markets.
A.Right
B.Wrong
C.Doesn't say
A B C
B
最后一段第二句明确指出Financial assets that are resold are waded in secondary markets,题中的购买定期存单者想在未到期前转卖(resold),就必 须在二级市场(secondary market)进行。
Passage Two Reserve Banks have expressed an interest in using non-employee experts or consultants on bank supervision matters for a number of reasons. A Reserve Bank may seek to engage retired examiners to address fluctuating resource demands, for example, in the event of a rapid but temporary need for examiners experienced in loan underwriting and credit review. An external expert may be used to provide supplemental training, for example, to expose examiners to new analytical techniques, or to provide on-the-job training to examiners who have not experienced an economic downturn, problem loans, or problem banks. While it is important to maintain adequate resources and expertise on an ongoing basis, a Reserve Bank may decide in a particular situation that using a consultant is a more cost effective or efficient approach to meeting a specialized skill need. For example, a consultant may be engaged for a one-time assignment that does not justify a full-time expert on staff, particularly if a System expert is not avaible. Similarly, an external expert with industry-specific knowledge may be retained to evaluate a business activity that is nontraditional to banking, such as brokerage services or insurance.
1. The external experts can providemany kinds of works except auditing.
2. Using an external consultant is a more cost effective or efficient approach to meeting a specialized skill need.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文中第四句后半句…a Reserve Bank may decide…to meeting a specialized skill need,意指在某种特定情况下,雇请顾问以满足专业需求是一种更花钱和 有效的方法,并没有明确指出雇请顾问是一种满足专业需求成本更大但更有效的 方法。
3. An external consultant must work with some System experts.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文中倒数第二句(例子),For exampie, a consultant may be engaged for a one-time assign-merit that does not justify a full-time expert on staff, particularly if a System expert is not available,意指在系统专家没空时,顾问可以保证机构本身专家所不能保证的一次性任务的公正性,并没有明确提及外部顾问必须和系统专家一起工作。
Passage Three In the simplest form of international trade, the open-account basis, banks actually have only a simple transactions role. In the open-account basis, the importer and exporter are well known to each other and probably have established a successful working relationship. The importer orders goods and promptly pays for them when the goods and title thereto are received. Almost as simple is the foreign collection basis, in which a bank is used to transmit collected funds. Before the goods it has bought can be shipped, the importer must place funds with its bank so that the exporter is assured that payment will be made with collected funds. In this instance, the bank is merely an agent and not a lender.
1. In open account basis the importer and exporter have established a successful working relationship.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第二句指出In the open-account basis, the importer and exporter…probably have established a successful working relationship, open-account往来账户。
2. In foreign collection basis the importer and exporter trade upon their reputation.
A.Right
B.Wrong
C.Doesn't say
A B C
B
…so that the exporter is assured that payment will be made with colleeted funds,说明在国外托收方式下,出口商的货款回收以托收款为保证,早在出口 商发货之前,托收款就已经存入进口方银行,因此并非如题中所说“以各自信用 保证为基础进行的贸易”。
3. The exporter has gotten the funds before he ships the goods in foreign collection.
A.Right
B.Wrong
C.Doesn't say
A B C
B
倒数第二句是说Before the goods it has bought can be shipped, the importer must place funds with its bank,而不像题中所说的“出口商在发出货物之前, 就已经拿到了托收款”。
Part Three Writing
Section One Directions:Translate the following sentences into Chinese.
1. The reporting of balance of payments statistics covers all economic transactions between Chinese residents and non-residents.
国际收支统计申报范围为中国居民与非中国居民之间发生的一切经济交易。
2. The break-even point is the sales level at which operating income is zero and revenues equals total expenses.
保本点是营业利润为零时的销售水平,在保本点的销售水平上,总收入等于 总费用。
3. The issuance of convertible bonds and bonds of securities companies are subject to the approval of the CSRC and shall meet the two requirements, i.e. convertible bonds and bonds issued by securities companies.
4. An important financial institution that assists in the initial sale of securities in the primary market is the investment bank.
在一级市场上对证券首期销售帮助最大的金融机构是投资银行。
Section Two On November 17, 2008, STANDARD CHARTEREDBANK, Hung Kong sends a Credit Advice to Bank of China, Guangzhou Branch informing that they have credited Guangzhou Branch's a/c with USD21, 780.00 being reimbursement of their negotiation under Ref. No. BP42A94094 and charges of USD220. Now complete the Credit Advice by filling in the missing items. STANDARD CHARTERED BANK Hong Kong Office CREDIT ADVICE Name: 5 Date: 6
No.
100017 - 03011 Address: 91 Changdi Rd, Guangzhou, Ouangdong Province 510120 China Particulars : 7 Total Amount: 8 9 1 We have credited your account 1 Please debit our account 1 We enclose herewith our Cashier's 0rder/Demand Draft 1 We have credited settle, bank a/c in your favor
Authorized
Signature: 10
1.
Bank of China;
2.
Nov. 17. 2008;
3.
In reimbursement of your negotiation under Ref. No. BP42A94094 plus your charges;
4.
US $ Twenty-one Thousand Seven Hundred and Eighty only;
5.
the first one;
6.
your own name.
Section Three Directions:Write a bank letter according to the following requirements.
1. ABC银行2008年9月1日曾通知我方,称其开了一张汇票,请求我行见 票即付,并为此向我行在Bank America Intel NY账户下汇去了此笔款项6万美 元。但如今期限己过,我行至今仍未见此汇票,故我行特写信询问ABC银行此汇 票是否确己开出,如果见票,是否仍然行使付款义务,还是该汇票己被取消。
September 4th, 2008
ABC Bank Road×××, New York Dear Sirs,
Non presentation of Your Draft No.
With reference to the above draft, we have received your advice on 8th August and our account with Bank America Intel New York was credited on USD60, O00 as cover for the draft. But the draft has not been presented for payment as of the date of this writing. Will you kindly review your records and inform us whether we are to continue to consider this draft as open and payable on presentation, or whether we are to consider it as cancelled. We shall appreciate your early reply to this matter.
Yours sincerely, ××× Manager Bank of China Beijing Branch