一、听力题 Directions: In this section, you will hear ten short statements. Each statement will be 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. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
C.Please ask a similar London bank to deal with the problem.
D.Please ask the bank in London which has a correspondent relationship with you to deal with the problem.
A B C D
[解析] Please ask your correspondent bank in London to handle this.
7.
A.The tax return is not shown in the income.
B.The income is not accurate in taxation.
C.The tax should be returned according to the income.
D.The tax return is not in accordance with the income that should be taxed.
A B C D
[解析] The tax return does not show accrued income.
8.
A.The indicating machines need to be repaired in the future.
B.All indicators explain the improvement of the future.
C.Major indexes show a better near future.
D.All the leaders gave advice on the future.
A B C D
[解析] All leading indicators suggest an upswing in the near future.
9.
A.Here is the discount window.
B.The discount rate of the window dressing must be put in figures.
C.We must reduce the price of the window dressing a lot.
D.We buy the window dressing at a cheaper price.
A B C D
[解析] We must discount the window dressing in the figures.
10.
A.The plan of spending money sets us a standard.
B.The plan of expending controls every aspect of our work.
C.The budgetary authority has provided a lot of support.
D.There should be specific budgetary controls.
A B C D
[解析] Budgetary controls provide us with a specific yardstick.
二、单项选择
1. She ______ 10 000 to charity in her will.
A.audited
B.settled
C.bequeathed
A B C
C
2. You have to pay high ______ on an estate.
A.trust funds
B.taxes
C.returns
A B C
B
3. The ______ will distribute the property of the deceased according to his last will and testament.
A.heir
B.executor
C.returns
A B C
B
4. In the U. S. , people must fill out their tax ______ by April 15.
A.returns
B.appraisals
C.bequests
A B C
A
5. My lawyer will ______ my will.
A.draw up
B.name as
C.probate
A B C
C
6. The spot rate of United States dollars is 1.59~1.60; the three month premium is 0.50~0.45 cents. What is the rate at which a UK bank would buy dollars under a three -month fixed forward contract?
A.1. 5945
B.1. 5955
C.1. 6045
D.1. 6050
A B C D
B
7. There are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection that is documents against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view the order of preference is ______.
A.(1), (2), (3), (4)
B.(4), (3), (1), (2)
C.(4), (I), (3), (2)
D.(2), (4), (1), (3)
A B C D
C
8. According to the Commercial Banking Law of our country' the total sum of the working capital to be allocated to all branches shall not exceed ______ of the total capital of the commercial bank.
A.50%
B.40%
C.60%
D.70%
A B C D
C
9. Under FOB terms the bill of lading would state ______.
A.goods loaded on board' freight paid
B.goods loaded on board' freight payable at destination
C.goods received for shipment' freight paid
D.goods received for shipment' freight payable at destination
A B C D
B
10. From the point of view of a Chinese bank, ______ is our bank's account in the books of an overseas bank' denominated in foreign currency.
A telegram sent to another country is often called a 1 When there is an 2 message to give or a demand to make, the telegram is the quickest and most 3 communication. It gives a 4 message in the 5 number of words, to reduce the cost. The language of telegrams is often difficult, as there is no 6 with the exception of the word "STOP". Recognized 7 such as CIF, are also used but you must be careful to write signs which are recognized 8 . There are various rules about the number of words. For example, 9 words, such ms ready -made, are counted as one word. The name of the 10 is included in the number of words.
1.
cable
2.
urgent
3.
efficient
4.
telegraphic
5.
minimum
6.
punctuation
7.
abbreviation
8.
brief
9.
hyphenated
10.
addressee
四、阅读理解
Credit and credibility
In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the public's deposits and running the payment system. Competition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank. The gales of change will leave many banks looking different in form and substance from a decade ago. Banking is traditionally thought of as one business, not least of all by bankers. Yet, as Mr. Thomas Steiner of Mckinsey, a management consultancy, points out, it comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will be- come the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will shrink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers' diaspora will be wide. Crossing the divides This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities business as they feel the regulators will let them get away with. Citicorp and J. P. Morgan have all been al- lowed to set up securities - underwriting affiliates slipping through the Section 20 loophole of the legislation separating commercial and investment banking. The two businesses have become so interwoven that, as Mr. Dennis Weatherstone, president of J. P. Morgan, says, we really have to rip the fabric to separate the threads. For their part, investment banks and securities houses have become direct suppliers of credit to wide range of financial and non - financial customers. They offer investment products that are virtual substitutes for interest - earning demand deposits. They own and operate non - bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial banking in their home market, American and Japanese investment banks and securities houses happily run such banking affiliates abroad. It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. Bankers are becoming everyday occurrences. Japan's Nippon Life joined the act in February by taking a 4% stake in Spain's Banco Bilbao Vizcaya for 250m. At home, Japanese insurers already have affiliations with banks, through the web of cross - shareholdings of the big industrial groups. America's third biggest re- tail stock broking firm, Pru - Bache, has dipped in the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep insurance into financial services. Retailers and manufacturers own securities companies, insurance firms' thrifts and non - bank banks. They offer a wide range of credit, investment - banking and insurance services, to companies and individuals alike.
1. What does the pronoun "themselves" (line 2) refer to in the text?
A.sources
B.entities
C.hanks
D.companies
A B C D
B
2. Which of the following statements is False according to the text?
A.Competition is gradually forcing banks to question their identity.
B.Most of the different activities done by banks could be done by other types of institution.
C.Regulations in America and Japan are preventing commercial banks from getting into the securities business.
D.Separating the commercial and investment banking activities of some American banks would be very difficult.
A B C D
B
3. What does this sentence mean? "Banking will still be a principality in the kingdom of financial services, but its heartland will shrink."
A.Banking will still be the most important part of financial services.
B.Banking will be absorbed by other areas of financial service.
C.Banking will remain an independent but smaller area of financial services.
D.Banking's position within financial services will be unchanged.
A B C D
A
Single, but not level
The 1992 programme is going to run a bit late for the European Community's financial services companies. The earliest that the whole -- more or less -- of the industry will be able to take advantage of its single market now looks like being mid - 1994. That is the European Commission's unstated timetable for EC member countries to implement its third life - insurance directive, whose draft is published on February 20th. The directive, which follows similar directive on non -life insurance published in draft a few months ago, is the last big element in its push to open financial markets that are still highly protected. The broad idea is that financial service companies should have the right to operate through- out the EC on the basis of a single "passport", issued by the supervisory authority in their home country. The commission hoped to have the main insurance - all liberalised together at the end of 1992. Now it looks as if only the banking directive, adopted by the Council of Ministers in December 1989, will be operative in time. A draft investment services directive was submitted by the commission to the council in January 1989, and is much further along the legislative road than the two insurance directives. Yet the obstacles that it has run into make it probable that even it will miss the end - 1992 deadline. The directive would let investment banks and stockbrokers serve clients throughout the EC and trade on all EC exchanges, subjected only to home - country control. Problems arose last November, when France proposed to curb their freedom to trade securities outside recognised exchanges. This has split the EC into the usual north/south, liberal/interventionist groups. The 12 finance ministers will try again on February 25th, but progress is unlikely. Eventually, a compromise will no doubt be reached, probably one saying that small investors should have their orders executed on official markets unless they want otherwise. But all this will take time to negotiate. The council is unlikely to adopt the directive formally much before the end of this year. Governments will then be hard put to get it on to their national statute books by mid-1993. Do the delays in the investment services and insurance directives matter? The EC is adept at missed deadlines, and end - 1992 was never carved in stone. The trouble is that banks, investment houses and insurers are now in competition with each other. Banks therefore will have a head start over their non - banking rivals in selling competitive products across the EC. Instead of the single, level playing field for financial services that the Community talks of, the field will indeed be single but still sloping from one end to the other. Senior commission officials say that it is up to national governments to get a move on. This is wishful thinking. On February 19th the British government began consulting with interested parties on last autumn's non -life -insurance draft directive. This process will take months to complete, and only then, say the British, will they be able to begin serious negotiations in the Council of Ministers. The draft life directive, while sharing some principles with the non-life draft, also poses new problems that will take time to resolve. These concerns such issues as consumer protection (that is, disclosure, supervision and so on), calculating technical provisions to meet insurers' liabilities, and the removal of certain national provisions like Belgium's ban on life - insurance policies linked to unit trusts.
4. Match the following ideas to the paragraphs they refer to. (i) The directive about insurance is the final element for the new open market. (ii) The British Government is not moving as quickly as the European Commission wants. (iii) Reaching a compromise over French objections will take time. (iv) Problems with the draft life-insurance directive are delaying its progress. (v) The single European financial market will not come about before 1994. (vi) If banking unification occurs first it will give banks a competitive advantage in the single market. (vii) French objections on stock trading have slowed investment services authorisation. (viii) Permission for financial institutions to act throughout the EC will be provided by one authorisation. (ix) Investment services legislation is more advanced than for insurance.
(略)
5. Look Carefully at Paragraph 7. Then decide which of the following is the best explanation of the last sentence in that paragraph.
A.Banks will not be in competition with insurance companies and investment service companies after 1992.
B.Only banks will be allowed to alter their areas of activity after 1992.
C.Banks will have an unfair advantage over other financial institutions from 1922.
D.The European Commission wishes to give banks a special position in the single market.
A B C D
B
五、英释汉
1. From a technical point of view, international economic integration can be a limited process, i. e. the elimination of tariffs and quantitative restrictions.
从法律角度看,世界经济全球化是一个受到限制的过程,比如,一个清除关税和数量限制的过程。
2. The globalization of the insurance industry has been accelerating as mergers and acquisitions have continued to cross country borders.
随着兼并愈来愈跨国界地进行,保险业的全球化一直在加速。
六、判断正误 The most basic tool of the account is the accounting equation. This equation presents the assets of the business and the claims to those assets. Assets are economic resources of a business that are expected to be of benefit in the future. Cash, office supplies merchandise, furniture, land and buildings are examples; Claims to those assets come from two sources. Liabilities are "outside claims", which are economic obligations, debts payable to outsiders. These outside parties are called creditors. For example a creditor who has loaned money to a business has a claim-- a legal right -- to a part of the assets until the business pays the debt, "insider claims" are called owners' equity or capital. These are the claims held by the owners of the business. Owners' equity is measures by subtracting liabilities from assets.
1. The owners of a business are those who have invested their money in the business. There- fore, they are the only persons who have the right of claims to the assets of the business.
A.Right
B.Wrong
C.Doesn't say
A B C
B
2. The amount of liabilities of business tells us how much the business owes to outsiders.
A.Right
B.Wrong
C.Doesn't say
A B C
A
3. Assets is measures by subtracting owners' equity from liabilities.
A.Right
B.Wrong
C.Doesn't say
A B C
B
There are usually two kinds of ledgers: 1. General ledger: It contains the controlling accounts for each of the subsidiary ledgers. A controlling account in the general ledger shows in summary form what appears in detail in the corresponding subsidiary ledger. There is often a separate controlling account for each subsidiary ledger. Thus Due from Banks controlling account shows in summary form the totals of all the debits and credits appearing in the correspondent banks' accounts in the Due from Banks subsidiary ledgers. The balances in the general ledger for asset, liability and capital accounts become the basis for data set forth in the balance sheet. The balances in the income and expense accounts become the basis for data set forth in the Profit and Loss Statements. 2. Subsidiary ledger: It is a ledger maintained for subsidiary accounts of a homogeneous nature. The balances of the account in the subsidiary ledger equal the total of the balance shown in the controlling account for the particular subsidiary ledger maintained in the general ledger. The usual subsidiary ledgers in banking business are the depositors' ledger, debtors' ledger, income ledger, expense ledger, and others. In the books of ×× Bank, there are some 107 accounting items which record and reflect its entire business activities and achievements. The books are divided into four categories, that is, Asset, Liability, Joint Asset and Liability, Loss and Income.
4. The accounting items in the subsidiary ledger may appear indetail in the controlling account in the general ledger.
A.Right.
B.Wrong.
C.Doesn't say.
A B C
B
5. The Due from Banks subsidiary ledgers contain all the debits and credits in the accounts of the correspondent banks.
A.Right.
B.Wrong.
C.Doesn't say.
A B C
B
6. Depositors' ledger, debtors' ledger and income ledger are parts of the general ledger in banking business.
A.Right.
B.Wrong.
C.Doesn't say.
A B C
C
7. The accounting items are divided into four categories of Asset' Liability, Joint Asset and Liability, Loss and Income.
A.Right.
B.Wrong.
C.Doesn't say.
A B C
A
七、写作题 Directions: Describe the procedures of telegraphic transfer (T/T) according to the number given in the charter.
1.
①apply for a LC ②issue LC ③advise LC ④negotiate ⑤reimburse/send documents ⑥pay and redeem the documents