Section One 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.
A.The financial reporting is to provide information for the investors and lenders only.
B.The main aim of financial reporting is to offer information useful for decision-making.
C.Investment and lending decisions can be made from the financial reporting.
D.Investment and lending decisions can not be made from the financial reporting.
A B C D
B
[解析] The primary objective of financial reporting is to provide information useful for making investment and lending decisions.
录音单句意思为“财务报告的主要目标是为投资者和贷款者做决定提供有用信息”。
7.
A.The bank's foreign exchange department has to record the positions in the various currencies.
B.The hank's foreign exchange department has to record the positions in the various currencies.
C.The bank's foreign branches department has to record the various foreign currency liabilities.
D.The bank's foreign branches department has to record the positions in the various currencies.
A B C D
A
[解析] The bank's foreign exchange department has to keep constant track of the positions in the various currencies.
单句意思为“银行外汇部必须随时监测各种货币的头寸”。
8.
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
D
[解析] The tax return does not show accrued income.
单句意思为“纳税申报单不能反映应计收入”,D项意思与之接近。
9.
A.From an early date the banker have charged a commission for their services.
B.From an early date the banker has an obligation to serve the customers.
C.From an early date the customers have charged a commission.
D.From an early date the customer has an obligation to serve the banker.
A B C D
A
[解析] From an early date bankers have made a charge for the services which they provide for their customers.
单句意思为“银行在一开始就会向其提供服务的客户收取费用”。make a charge和charge a commission都是“收费”的意思。
10.
A.Banks may guarantee the buyer or the seller in documentary collection.
B.Banks act as agents without responsibility of guarantee on either side.
C.Banks offer bank guarantee to both the buyer and the seller in documentary collection.
D.Banks are only responsible for the buyer in documentary collection.
A B C D
B
[解析] Although banks are involved in documentary collection, they offer no bank guarantee to either the buyer or the seller.
单句意思为“银行在跟单托收中没有义务向买方或是卖方提供银行担保。”
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 and question will be spoken only once. During the pause, you must read the four choices marked A, B, C, 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.Stipulating the amount and timing of any periodic cash interest payments.
D.Stipulating the financial sponsor.
A B C D
D
[解析] W: When I want to borrow money from a hank, what should I do? M: You should create a contract with the bank, stipulating the rate of interest, the repayment date, the amount and timing of any periodic cash interest payments, and other terms of the agreement. Q: Which is not mentioned when creating a contract with the bank?
[解析] W: What is the rate of exchange? M: Sorry, I'm not sure. You will have to ask at the exchange desk. He can give you the exchange rate. Q: Where can he find the exchange rate?
当女士问到汇率是多少时,男士的回答是"You will have to ask at the exchange desk",由此可知选项A正确。
3.
A.He will provide investment service.
B.He will help the customers.
C.He will join the commercial bank.
D.He will purchase or sell securities.
A B C D
D
[解析] M: Do you provide investment service? W: Yes. We are a commercial bank. We help customers with the purchase and sales of securities. Q: What does the man want to do?
当男士问对方是否提供投资服务时,女士回答道:"We help customers with the purchase and sales of securities."可知D项正确。
4.
A.Adequate liquidity.
B.Insufficient liquidity.
C.Increasing liabilities.
D.Converting assets.
A B C D
B
[解析] M: If a bank has inadequate liquidity, what would happen? W: In this case, it cannot obtain sufficient funds, either by increasing liabilities or by converting assets promptly. Thus, insufficient liquidity can lead to the insolvency of a bank. Q: What would lead to a bank's insolvency?
从女士的回答“insufficient liquidity can lead to the insolvency of a bank”,可知资金流动不足可导致银行破产。
5.
A.The banks will disapprove them.
B.The banks will approve them.
C.The Bank will benefit from the loans.
D.The bank will make profit from lending.
A B C D
A
[解析] M: Most banks tend to decline loan proposals which are highly speculative. W: I think because the banks expect the loan to generate sufficient profit and positive cash-flow for themselves and for the clients. Q: What will the banks usually do to the highly speculative loan proposals?
A.The woman can't get cash before the proceeds are collected.
B.There is something wrong with the proceeds.
C.The woman will be paid directly by the paying bank.
D.The personal cheque can't be encashed over the counter.
A B C D
A
[解析] W: I wish to cash this cheque from U. S. A. , but the man in the next window told me to bring it here. M: Oh, yes. This is a personal cheque. We wouldn't be able to cash it for you until the proceeds are collected from the paying bank. Q: What does the man mean?
男士说女士的是个人支票,他们不能给她兑换现金"until the proceeds are collected from the paying bank.",即“直到从付款银行那里收到进款”。
7.
A.Before any ordinary dividends are declared.
B.After any ordinary dividends are declared.
C.Before any ordinary dividends are paid.
D.After any ordinary dividends are paid.
A B C D
A
[解析] M: Professor Wang, could you tell me the advantage of the preferred shares? W: Preferred shares have certain rights, such as the preferred right to receive dividends before any ordinary dividends maybe declared. Q: When do preferred shareholders have right to receive dividends?
这段对话谈论的是优先股的优势所在,女士的回答是他们能"receive dividends before any ordinary dividends maybe declared",故A选项正确。
8.
A.The receipt of the goods given by the ship master.
B.The evidence of the terms of the contract of carriage.
C.The evidence of the shipment of goods.
D.The evidence that the holder of it has the property in the goods.
A B C D
A
[解析] W: Why is the bill of lading so important? M: Because it shows the terms of the contract of carriage, gives evidence of the shipment of goods, and makes sure that the holder of it has the property in the goods. Q: Which is one of the functions of a bill of lading but not mentioned in the conversation?
提到提货单的重要性时,女士提到“the terms of the contract of carriage”,“gives evidence of the shipment of goods”,及“makes sure that the holder of it has the property in the goods”,只有A选项没有提及。
9.
A.Smart Card.
B.Master Card.
C.Visa Card.
D.American Express.
A B C D
A
[解析] M: I want to apply for a credit card. What are the common credit cards? W: Master Card, Visa, Discover, and American Express. Apply for the ones without annual fees. Some credit cards even pay you back about 1% - 2% of what you spend. Q: Which type of credit card is not mentioned in the conversation?
[解析] W: How do you pay for your purchases with a credit card? M: Usually I sign a sales slip in the presence of the seller, and the signature is then compared to the signature on the card. Q: Where should the man sign when he pays for his goods with a credit card?
对话中男士说道“usually I sign a sales slip”,即他通常在购物单上签字。
Section Three Directions: In this section, you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
[解析] 21-23 A standby credit letter (SCL) is a contingent obligation of the letter's issuer. The issuing bank agrees to guarantee the credit of its customer or to guarantee the fulfillment of a contract made by its customer with a third party. The issuing bank earns a fee from providing the service of SCL. In general, the fee is relatively low and usually around 0.5 percent to 1 percent of the amount of credit involved due to the following reasons. On the one hand, the issuing bank may have previously analyzed the financial condition of its standby credit customer, and the probability is low that the issuer of the credit guarantee will ever be called upon to pay. On the other hand, the issuing banks carry zero reserve requirements and avoid the booking of additional assets, which would also require each bank to acquire more capital. 21. Is SCL same as revocable letter of credit according to the passage?
录音原文第一段提到A standby credit letter (SCL) is…1etter's issuer.备用信用证对发卡行来说有不确定的责任。但并没有说备用信用证的功能和可撤销的信用证具有同样的功能。
2.
A.The issuing bank will charge a fee for giving a standby credit letter.
B.The issuing bank will charge no fees for giving a standby credit letter.
C.The issuing bank will amend the standby credit letter if appropriate.
D.The issuing bank will revoke the standby credit letter if appropriate.
A B C D
A
[解析] What will the issuing bank do for a standby credit letter?
录音原文提到The issuing bank earns a fee from providing the service of SCL.发卡行从备用信用卡中获得服务费。
3.
A.The service fee is about 1 percent of the amount of credit involved.
B.It's almost impossible for the issuer to honor the payment after analyzing the financial condition of the customer.
C.The issuing banks must carry reserve requirements for the guarantee.
D.The issuer of the credit guarantee will never be called upon to make payment.
A B C D
B
[解析] Why is the service fee of SCL relatively low?
[解析] 24-26 Banker's acceptances often arise in foreign trade. A business buying goods from abroad where it is not well known and does not have other credit arrangements will first obtain a letter of credit from its own bank. The letter will authorize the foreign seller to draw a draft on the company's bank. A draft, or bill of exchange, as it is sometimes called, is a debt instrument. It can be made payable on sight, that is, upon presentation, payable upon arrival of merchandise, or payable in a fixed number of days. A draft can be made payable in, say, 30 days after it is presented to the bank against which it is drawn. This draft can be discounted at the seller's bank so that the seller receives immediate payment. 24. What gives rise to the bankers' acceptance?
录音原文第一句提到Banker's acceptances often arise in foreign trade,银行承兑起因于对外贸易。C中的国际贸易即世界各国的对外贸易,因此符合题意。
2.
A.13 days
B.30 days
C.33 days
D.23 days
A B C D
B
[解析] In how many days can a draft be made payable after it is presented to the bank against which it is drawn?
录音原文提到A draft can be made payable in,say,30 days after it is presented to the bank against which it is drawn.在向开票行交付汇票30天后,汇票应该被支付。
3.
A.He can send the draft to the correspondent bank for immediate payment.
B.He can present it to the bank against which it is drawn for payment.
C.He can ask the buyer to pay the money.
D.He can discount the draft at his bank and get money immediately.
A B C D
D
[解析] How can the seller receive immediate payment if the draft is made payable on a future date?
录音原文最后提到This draft can be discounted at the seller's bank so that the seller receives immediate payment,卖方可以向银行贴现以获得及时支付。
[解析] 27-30 The importer will require a full set of bills of lading in order to obtain the goods from overseas port. The bills of lading can only be obtained by payment of the bill of exchange (D/P) , or by acceptance (D/A). Therefore, the importer cannot obtain the goods without paying or accepting the bill of exchange, and conversely an exporter retains control of the goods until payment or acceptance of bill of exchange. When goods are sent by air, the airway bill could show the importer's bank as consignee. Once again the importer must pay or accept a bill of exchange to be able to obtain the goods. Once the importer has paid or accepted the bill of exchange, the importer's bank will issue a delivery order. The delivery order is an authority, signed on behalf of the bank, authorizing the airport to release the goods to the named importer. 27. What will the importer require to obtain the goods from oversea port?
录音原文第一句提到The importer will require…from overseas port.进口商需要提货单从港口提取货物。
2.
A.Dollar against Pound
B.document against payment
C.delivery after payment
D.dollar in payment
A B C D
B
[解析] What's the meaning of D/P?
录音原文提到The bills of lading can…or by acceptance(D/A),提货单只有在支付货款即D/P,或者承兑汇票即D/A后才能获得。容易推断出D/P是document against payment的简写,D/A是document against acceptance的简写。
3.
A.By paying or accepting the bill of exchange.
B.By paying in cash.
C.By opening a letter of credit.
D.By showing the bill of lading.
A B C D
A
[解析] How can he importer obtain the goods ?
录音原文提到Therefore, the importer cannot…accepting the bill of exchange, …因此,进口商不偿付或者承兑汇票就无法提取货物。
4.
A.the exporter
B.the importer
C.the exporter's bank
D.the importer's bank
A B C D
D
[解析] When goods are sent by air, who can issue a delivery order to release the goods?
录音原文最后提到The delivery order is…to the named importer.交货单代表银行,授权运货飞机将货物交付给指定进口方。
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. You should make the best choice and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center. Passage 1 The credit created for international settlement among banks not only provides a sense of security for the traders involved, but also a reliable source of finance for foreign trade where required. The credit created, in general, favors the exporter. In order to reduce the possible risk, the exporter usually insists on the buyer establishing a credit in his favor before shipment is unloaded. There are generally several types of credits. A "confirmed credit" guarantees payment to the beneficiary, provided that the credit terms and conditions are met and the standing of the advising bank in the beneficiary's country is sound. A "revocable credit" may be cancelled at any time up to the moment the advising bank pays. This type of credit is the least favorable to the exporter. There is a risk that the goods may be shipped, and the credit revoked before documents are presented to the advising bank. An "irrevocable credit" may not be cancelled or even amended without the consent of all the parties involved. This type of credit guarantees that no single party will revoke the contract already signed. With the credit arrangement, the issuing bank agrees to pay the advising bank, and the advising bank pays the exporter according to the terms of the documents which appear to fulfill the conditions of the credit. Banks, however, are not bound by, and therefore, not concerned with the underlying sales contract on which the credit requirements are based. As long as the documents are in good order and there are no apparent problems with the process, the buyer is still responsible for payment to the issuing bank although the goods received may be of inferior quality to those ordered.
1. The word "credit" in the first line of the passage relies to:
A.loan
B.trust
C.B/L
D.L/C
A B C D
D
credit与信用证有关,B/L是bill of loading的缩写,即提单。L/C是letter of credit的缩写。
2. Why does the exporter usually insist on the buyer establishing a credit in his favor before shipment is unloaded?
A.To collect the proceeds.
B.To draw drafts.
C.To revoke the contract.
D.To reduce the possible risk.
A B C D
D
文章第一段提到In order to reduce…before shipment is unloaded。让买者开信用证的目的是在于降低出口者的风险。
3. According to the passage, which of the following statements is correct?
A.A "revocable credit" may be cancelled at any time.
B.The credits are usually in favor of the exporter.
C.An "irrevocable credit" may not be amended.
D.The credits are usually in favor of the importer.
A B C D
C
文章第二段提到An "irrevocable credit" may not be cancelled…all the parties involved.不可撤销信用证在没有得到其它相关方同意的时候是不能被取消和修改的。
4. Which of the following credit is not mentioned in the passage?
文章最后一段提到the issuing bank agrees to…to fulfill the conditions of the credit, the buyer is still responsible for payment to the issuing bank.由此可知只有confirming bank不需要负责任。
Passage 2 Accounting information is expressed primarily in monetary terms. The monetary unit is the prime means of measuring assets. This measure is not surprising given that money is the common denominator in business transactions. In the United States, the monetary unit is the dollar; in Great Britain, the pound sterling; in Japan, the yen. The stable-monetary-unit concept provides an orderly basis for handling account balances to produce the financial statements. Unlike a liter, a foot, and many other measurements, the value of the monetary unit may change over time. Most of us are familiar with inflation. Groceries that cost $50 three years ago may cost $60 today. The value of the dollar changes. In view of the fact that the dollar does not maintain a constant value, how does a business measure the worth of assets and liabilities acquired over a long span of time? The business records all assets and liabilities at cost. Each asset and each liability on the balance sheet is the sum of all the individual dollar amounts added over time. For example, if a company bought 100 acres of land in 1975 for $60,000 and another 100 acres of land in 1992 for $300,000, the asset of land on the balance sheet carries a $360,000 balance, and the change in the purchasing power of the dollar is ignored. The stable-monetary-unit concept is the accountant's basis for ignoring the effect of inflation and making no restatements for the changing value of the dollar. Let's look at the short-comings of this concept. Suppose another company paid $ 600,000 for the same 200 acres of land in 1992. Its land would be the same as the preceding company's land, but its balance sheet would show a much higher amount for the land. How do we compare the two companies' balance sheets? The comparison based on the stable-monetary-unit concept may not be valid because mixing dollar values at different times is like mixing apples and oranges.
6. What is the stable-monetary-unit concept?
A.It is the prime means of measuring assets.
B.It is the common denominator in business transactions.
C.It is an orderly basis for handling account balances to produce the financial statements.
D.It is monetary terms in accounting information.
A B C D
C
文章第一段最后一句提到The stable—monetary—unit concept provides…produce the financial statements.货币计量单位的理念,使处理账户余额,生成财务报表能够有序进行。
7. By what means does a business measure the worth of assets and liabilities?
A.The monetary unit.
B.Dollar.
C.The value of the monetary unit.
D.The sum of all the individual amounts added together.
A B C D
A
一个企业资产和负债的情况是用货币单位来计量。所以A选项符合题意。
8. What does an asset mean on the balance sheet?
A.It means all the assets recorded in a period of time.
B.It means the sum of all the individual asset amounts added over time.
C.It means the individual dollar amount.
D.It means accounting information expressed in special terms.
A B C D
B
文章第二段提到The business records all assets…individual dollar amounts added over time.资产在资产负债表上通常以单个资产的总和来呈现。
9. What does the accountant do in recording assets and liabilities according to the stable-monetary-unit concept?
A.He simply adds all the amounts together.
B.He puts the assets and liabilities on the balance sheet objectively.
C.He makes restatement if the value of money depreciates.
D.He records the assets and liabilities on the balance sheet ignoring the change in purchasing power value of the currency.
A B C D
D
文章最后一段提到The stable-monetary-unit concept is the accountant's…the changing value of the dollar。统一货币计量单位使得会计在编制资产负债表的时候不用去考虑 通货膨胀和美元贬值的影响。所以D选项符合题意。
10. What is the short-coming of the concept?
A.The accountant has to restate the assets and liabilities on the balance sheet.
B.It is difficult to compare the balance sheets of different companies.
C.The balance sheet can not reflect the precise worth of the assets and liabilities.
D.Another company will not decide whether to buy the piece of land.
A B C D
C
文章最后一段提到Suppose another company paid…a much higher amount for the land.如果是基于这样一个观点的话,这样一个资产负债表所反映的内容就要比实物要高出很多,由此可知这一观点的缺点在于,资产负债表不能精确的反映资产和负债的实际情况。
Passage 3 A bond is issued by a guarantor, usually a bank or an insurance company, on behalf of exporter. It is a guarantee to the buyer that the exporter will fulfill his contractual obligations. If these obligations are not fulfilled, the guarantor undertakes to pay a sum of money to the buyer in compensation. This sum of money can be anything from 1% to 100% of the contract value. If the bond is issued by a bank, then the exporter is asked to sign a counter indemnity which authorizes the bank to debit his account with any money paid out under the bond. Bonds are usually serried in connection with overseas contracts, or with the supply of capital goods and services. When there is a buyer's market, the provision of a bond can be made an essential condition for the granting of the contract. Middle Eastern countries commonly require bonds, but nowadays many other countries also require them. Most international aid agencies, such as the World Bank or the European Development Fund, and most government purchasing organizations in the developing world, now require bonds from sellers.
11. Before a bank issues a bond for the exporter, the issuer and the applicant should have some kind of agreement in ______ form.
A.verbal
B.written.
C.bond
D.L/C
A B C D
B
银行在为出口商发行保函以前,发行者需要和申请者签订一份书面协议。B选项符合题意。
12. When the supply for a certain service is less than the demand on the market, the requirement by the importer to get a bond is much ______.
A.easier
B.more difficult
C.more happier
D.the same
A B C D
B
文章第三段提到Bonds are usually…or with the supply of capital goods and services.保函通常与跨国的合同或资本项下的货物的销售服务的提供有关。所以B选项符合题意。
13. Under the bond terms in international business, if the exporter fails to fulfill its obligations, the compensation should be paid by ______.
A.the importer's bank
B.the exporter's bank
C.the collecting bank
D.the negotiating bank
A B C D
B
文章第一段提到If these obligations are not fulfilled,…to the buyer in compensation。如果一旦交易不能实现,那就由guarantor(担保人)来赔偿买家的损失。guarantor在文中指the exporter's bank。
14. Bonds are commonly used in the Middle East area, so ______.
A.the Middle East banks often issue bonds
B.the Middle East exporters often demand bonds
C.the Middle East insurance companies often issue bonds
15. Under the bond terms in international business, after the bank has paid the necessary compensation, it will make an entry to his customer's account on the ______ side.
A.debit
B.credit
C.assets
D.liabilities
A B C D
A
文章第二段提到exporter is asked to sign a…paid out under the bond。如果由银行出具保函,出口商需签订相应的赔偿保证书,这样银行才有权按照保函上的规定借记出口商账户。
Section Two Directions: There are ten statements in this section. For each statement there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
1. Which of the following is not among the generally accepted accounting principles?
8. Liabilities that will be due within a short time (usually one year or less) and that are to be paid out of current assets are called ______.
A.long-term trust
B.long-term liabilities
C.current liabilities
D.current investment
A B C D
C
流动负债期限短,需要流动资产偿还。current assets流动资产。current liabilities流动负债。current investment短期投资。long-terrn trust长期信托。long-term liabilities长期负债。be due应付的,到期的。be paid out of用…支付。
9. To whom is an endorser liable if the bill of exchange is dishonored?
A.the payee
B.the drawer
C.a previous endorser
D.a subsequent endorser or holder
A B C D
D
如果汇票被拒付,被背书人有权向其直接的背书人以及曾在汇票上签名的其他背书人直至出票人进行追索,背书具有连续性。be liable to sb…负责。be dishonored被拒付。endorser背书人。previous endorser前手背书人。subsequent endorser后手背书人。
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.a vostro account
B.a nostro account
C.a mirror account
D.a record account
A B C D
B
句意:从一个中国的银行的角度而言,往账是我行在海外行开户并持有的账户,该账户用外币记账。来帐是海外行在我行开户,用人民币记账。denominated in foreign currency用外币计价。vostro account来帐。nostro account往帐。mirror account镜子账户(指银行必须对自己的往账保持记录,目的在于收到对方银行的对账单时可以进行核对)。
Section Three Directions: There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
Passage One In order to 1 foreign exchange administration, maintain strong balance of payments position, China 2 the Regulations on Foreign Exchange Administration on January 29,1996. The State Administration of Foreign Exchange is the agency responsible for foreign exchange administration. The SAFE has a similar branch structure with that of the People's Bank of China, China's central bank. The Bank of China 3 the principal foreign exchange bank. Other banks and financial institutions, 4 affiliates of non-resident banks, 5 designed transactions with the approval of the SAFE.
Passage Two On the balance sheet, assets and liabilities are classified as either 1 or long-term to indicate their relative liquidity. Liquidity is a 2 of how quickly an item may be converted to cash. Therefore, 3 is the most liquid asset. Accounts receivable are a 4 liquid asset because the business expects to collect the amount in cash in the near future. 5 are less liquid than accounts receivable, and furniture and buildings are even less so.
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". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
Passage One The BIS is the central bankers' central bank. It is very discreet, and very influential. It was founded in 1930 to act as a trustee for the loans associated with the Young Plan for Germany Reparations. The first members of the bank were the central banks of Belgium, France, Germany, Italy, Japan and the United Kingdom, together with three private U. S. banks. The Federal Reserve Bank subsequently became a member alone with all the major European central banks. Current membership consists of 30 central banks, of which 25 are European plus the United States, Canada, Australia, and South Africa. (The BIS was unique in having Alhania and South Africa as co-member. ) The board of directors is composed of the governors of the central banks of Belgium, France, Germany, Italy, and the United Kingdom, together with co-opted directors from among the governors of those member central banks that do not have a representative on the board. The BIS has three main functions. It acts as a bank, primarily as a central bankers' bank; it acts as a gathering place for central hankers, a vehicle for international monetary cooperation; and it acts as trustee for various international loans. The BIS's role as an intermediary provides a number of advantages to other central banks. The first is anonymity : sometimes it is not convenient for a central bank to be seen to withdraw its funds from the market. The second is risk spreading: a deposit with the BIS is very safe since the bank is highly liquid. Finally, deposits placed with the BIS can usually be withdrawn at very short notice.
1. Albania and South Africa share a seat in the BIS.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第一段括号中一句话The BIS was unique in having Albania and South Africa as co-member,也就是阿拉伯和南非共享有一个席位。
2. Each governor of the central banks of all member countries are on the board of directors of the BIS.
A.Right
B.Wrong
C.Doesn't say
A B C
B
文章中最后一句The board of directors is composed of…,说明并非BIS每个成员国央行行长都能成为董事会成员。The board of directors董事会。
3. As a central bankers' bank, BIS holds routine meetings to coordinate activities for international Monetary understanding.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文章第二段提及it acts as a gathering place…international monetary cooperation,但没有提及holds routine meetings(召开例行会议)。
4. As a trustee for various international loans, the BIS is very careful and considerate of its customers' interests.
A.Right
B.Wrong
C.Doesn't say
A B C
C
第二段中间只说The BIS's role as an intermediary (a trustee for various international loans 是中介功能一种具体体现)provides a number of advantages to other central banks,并没有说它为其成员国利益考虑。
Passage Two The handy ATM/debit card you've packed for your big overseas vacation may be packed with fees. Many banks charge fees whenever a customer uses an ATM/debit card outside the United States. Debit cards, such as the Visa Check Card and MasterCard Money, are linked to a cardholder's checking account and can be used for purchases and to withdraw money from overseas ATMs. Foreign-fee double whammy. Most banks zap customers with USD1.50 to USD5 fees for using overseas ATMs. And now some major banks are charging customers 2-percent fees for each debit card purchase made while traveling abroad. These new fees come on top of 1 percent fees long charged by Visa and MasterCard for transactions involving foreign currency. "If your bank is adding 2 percent it's simply because they see it as a way of getting extra money out of you," says Ed Perkins, a nationally syndicated travel columnist and consumer advocate. "By the time your bank gets the charge it's already in dollars. " When you make a purchase with a credit card or debit card, you pay an overseas merchant in local currency. But the charge that shows up on your credit card bill or bank statement is in US dollars.
1. When you're paying for your meal in Swiss francs, your bank statement will list the cost of your dinner in US dollars.
A.Right
B.Wrong
C.Doesn't say
A B C
B
文中最后一句When you make a purchase…But the charge that shows up on your credit card bill or bank statement is in US dollars。“the charge”是指银行额外收取的费用,并非“the cost”。
2. When you make a purchase with a credit card or debit card, you pay an overseas merchant in local currency.
A.Right
B.Wrong
C.Doesn't say
A B C
A
文章中最后一句话When you make a purchase with a credit card or debit card, you pay an overseas merchant in local currency。
3. Many banks charge fees whenever a customer uses an ATM/debit card inside the United States.
A.Right
B.Wrong
C.Doesn't say
A B C
B
第一段第二句Many banks charge fees whenever a customer uses an ATM/debit card outside the United States。
Passage Three Assets are the economic resources of the business that can be usefully expressed in monetary terms. Liabilities, or creditors, equity, are the obligations, or debts, that the firm must pay in money or services at some time in the future. They therefore represent creditor's claims on the assets of the firm. The owner's interest is equal to the net assets of the business, which is defined as the difference between the assets and liabilities. Thus, owner's equity is the residual claim--a claim to the assets remaining after the debt to creditors has been discharged.
1. Assets and liabilities of a firm are both shown on the firm's balance sheet.
A.Right
B.Wrong
C.Doesn't say
A B C
A
从段落开始对Assets, Liabilities, equity的介绍中可以推导出。
2. The equity amount of a balance sheet is the creditor's claims on the firm.
A.Right
B.Wrong
C.Doesn't say
A B C
B
段落中第二句指出Liabilities, or creditors, equity…They therefore represent creditor's claims on the assets of the film,指的是Liabilities而非equity。
3. Expenses of a firm should be shown on the firms' income statement.
Section One Directions: Translate the following sentences into Chinese. Write your translation on the ANSWER SHEET.
1. Foreign exchange markets provide services for international investors or financiers such as forward transactions and foreign currency futures to eliminate certain risks.
外汇市场为国际投资者和融资家减少某种风险而提供了一些服务,例如远期交易、外汇期货等。
2. The central bank usually acts as a lender of last resort to protect commercial banks against a temporary liquidity drain.
中央银行经常作为最后贷款人,以解决商业银行暂时流动性不足的问题。
3. The reform of Chinese foreign exchange system accelerated in 1994 with the introduction of conditional current account convertibility, unification of exchange market and adoption of a market-based managed floating exchange rate.
4. In services like fund transfer, clearing, trust and factoring, banks act as agents for their principals-the clients.
在资金转移、清算、信托和保理等业务中,银行是委托人即客户的代理人。
Section Two Directions: Describe the procedures of factoring according to the numbers given in the following charter. Write your answer on the ANSWER SHEET.
1.
① The exporter applies for factoring to the import factor. ② Sign a factoring agreement. ③ Name of importer who needs credit line. ④ The import factor notifies the exporter the credit line. ⑤ The exporter consigns goods and sends the invoice and documents to the importer. ⑥ The import factor pays the exporter after deducting the charge.
Section Three Directions: Write a bank letter according to the following requirements. Write your answer on the ANSWER SHEET.
July 4th, 2008 GGG Bank Road × × ×, London Dear Sirs,
Agency Relationship
Thank you for your letter of May 2008. We fully understand your desire to set up agency relationship with us. As you are aware, the trade exchange between China and UK is limited with small volume at present. Since our existing correspondent banks in H city can fully meet our business requirements, we therefore do not intend to expand our agency network in the near future. We shall, of course, consider the matter in the light of trade development and hope you will give us understanding in this respect. We wish you a great business volume. Yours faithfully, × × × Manager Bank of China Beijing Branch