厦门大学网络教育2014-2015学年第一学期国际投资复习题及答案
厦门大学《国际贸易理论与政策》复习题答案
厦门大学网络教育2014-2015学年第一学期《国际贸易理论与政策》课程复习题一、单项选择题1.通过进口控制,实行较高程度的保护,鼓励满足本国需求的生产,抑制出口,属于(D)类型的贸易战略。
A、强外向型经济B、中度外向型经济C、强内向型经济D、中度内向型经济2.大国设置的进口关税,结果是: DA.会增加国家的福利。
B.会减少国家的福利。
C.会使国家福利保持不变。
D.上述三者都是可能的。
3.一个产业的有效保护率:AA.取决于对投入品的关税率,将大于或小于名义关税率B.是对设置关税的国家增加就业机会的度量。
C.取决于相关产品国内产出占GDP的份额,将大于或小于名义关税率。
D.总是高于最优关税率。
4.按照比较成本理论,一国应该进口( B )A.绝对成本低的商品B.比较成本高的商品C.比较成本低的商品D.丰裕要素密集的商品5.要素禀赋理论的提出者是( A )A.赫克歇尔B.大卫·李嘉图C.亚当·斯密D.凯恩斯6.按照要素禀赋理论,在中国与西方发达国家的贸易中,中国的工资水平将会( A )A.趋于上升B.趋于下降C.保持不变D.升降不定7.里昂惕夫之谜是指美国出口商品的资本密集度( C )A.高于其进口商品B.低于其进口商品C.低于其进口替代商品D.高于其进口替代商品8.按照产品的生命周期理论,创新产品是( C )A.土地密集型产品B.资本密集型产品C.技术密集型产品D.劳动密集型产品9.关税配额的含义是指( B )A.对进口品既有配额限制(超过配额,不许进口),又要征收进口关税B.对关税配额内的进口征收低关税,对关税配额外的进口征收高关税C.一国免税进口的数量限额,超过限额的进口要缴纳常规关税D.发达国家对发展中国家的进口优惠限额,超过限额的不能享受优惠待遇10. 按照《2000年国际贸易术语解释通则》的解释,采用CIF条件成交,货物装船时从吊钩脱落掉入海里造成的损失由( A )A.卖方负担B.买方负担C.承运人负担D.买卖双方共同负担11. 墨西哥拥有丰裕的非技术工人,而美国拥有丰裕的技术工人。
厦门大学网络教育2014-2015学年第一学期《投资银行学》课程复习题
厦门大学网络教育2014-2015学年第一学期《投资银行学》课程复习题第一篇:厦门大学网络教育2014-2015学年第一学期《投资银行学》课程复习题厦门大学网络教育2014-2015学年第一学期《投资银行学》课程复习题一、单项选择题1.债券的(D)是指发债人每年向投资者支付的利息占票面金额的比率。
A.发行金额B.票面利息C.收益率D.票面利率2.(C)是在资本市场上从事证券及相关业务的非银行金融机构。
A.资本管理公司B.财务管理公司 C.投资银行D.投资管理公司3.(D)是以非住房抵押贷款资产为支撑的证券化融资方式,它实际上是MBS技术在其他资产上的推广和应用。
A.抵押转递证券B.附担保的抵押证券 C.简单转递证券D.资产支持证券4.在我国,对于事先已确定发行条件的国债,仍采取(A)方式。
A.承购报销B.行政分配C.公开招标D.定向销售5.股票发行的(C)原则的要求对一切被监管的对象给予公正待遇。
A.公开B.公平C.公正D.平等6.(D)业务是指同时买卖一种或等值的证券、票据或商品,利用它在空间、时间上价格的差异进行头寸的买卖赚取利润。
A.交易所自营B.柜台市场自营C.投机D.套利7.按融资渠道来划分,公司兼并分为(A)和管理层收购两种形式。
A.直接收购B.杠杆收购C.善意收购D.敌意收购8.(C)是风险资本家通过购买已开业风险企业现有股份中的一部分而进行的风险投资。
A.开业资本B.转型资本C.重置资本D.创业资本9.(D)的主要观点是市场本身是不完善的,是有缺陷的,存在着市场失灵。
A.追逐说B.管制新论C.自由竞争理论D.公共利益学说10.(A)是投资银行以直线式为基础,在各级管理者之下设置相应的职能第1页,共8页部门,从事专业管理。
A.直线式职能制结构B.矩阵式结构 C.事业部式结构D.多维立体型结构11.(C)是住房抵押担保证券中最基本的形式,它代表对房屋抵押贷款组成的资产池的直接所有权。
厦门大学网络教育2014-2015学年第一学期《英语1》课程复习题
厦门大学网络教育2014-2015学年第一学期《英语1》课程复习题I. Reading Comprehension:Passage 1Ask three people to look out the same window at a busy street corner and tell you what they see. Chances are you will receive three different answers. Each person sees the same scene, but each perceives something different about it.Perceiving goes on in our minds. Of the three people who look out the window, one may say that he sees a policeman giving a motorist a ticket. Another may say that he sees a rush-hour traffic jam at the intersection. The third may tell you that he sees a woman trying to cross the street with four children in tow. For perception is the mind’s interpretation of what the senses---in this case our eyes---tell us.Many psychologists today are working to try to determine just how a person experiences or perceives the world around him. Using a scientific approach, these psychologists set up experiments in which they can control all of the factors. By measuring and charting the results of many experiments, they are trying to find out what makes different people perceive totally different things about the same scene.1.The best title for this passage is B .A. How We SeeB. Learning About Our Minds Through ScienceC. What Psychologists PerceiveD. Interesting Experiments2.Seeing and perceiving are C .A. the same actionB. two actions carried on entirely by the eyesC. two separate actionsD. actions that take place at different times.3.Perceiving is an action that takes place D .A. in our eyes.B. only when we think very hard about something.C. only under the directions of a psychologistD. in every person’s mind4.Perception involves what D .A. our senses tell usB. our minds interpretC. we see with our eyes onlyD. both A and B5.Psychologists study perception by A .A. setting up many experimentsB. asking each other what they seeC. looking out of windowsD. studying people’s eyesPassage 2Benjamin Franklin was born in 1706 in Boston, Massachusetts. His mother and father were of Puritan(清教徒的)religion. They left England and moved to the English colony of Massachusetts in order to escape persecution(迫害)for their religion. In Boston, Franklin left school when he was ten years old and worked for his father for two years. Then he went to work on his brother’s newspaper. He became the editor of this paper when he was sixteen. Because he wanted to be independent, he went to Philadelphia. There he bought his own newspaper. He worked hard and save his money. Any by the age 24 he was one of the most successful men inPhiladelphia.In 1732 Franklin published a book “POOR RICHARD’S ALMANAC(历本)”. Most almanacs contained information for farmers, such as information about the days and weeks of the year and about the weather. To his almanac, Franklin added wise sayings, his observations about life, and some of these sayings are still famous today. For example, “Early to bed, early to rise makes a man healthy, wealthy and wise.” and “Waste not, want not,” and “A penny saved is a penny earned.”6. Benjamin Franklin was A .A. English originB. French originC. American originD. not mentioned7. His parents moved to Massachusetts because C .A. they wanted to make a fortune.B. they wanted to meet heir relatives there.C. they were persecuted in England.D. they wanted to have a visit there.8. At the age of 11, he worked for B .A. his brotherB. his fatherC. himselfD. someone else9. He moved to Philadelphia because D .A. his brother didn’t like himB. he wanted to be dependent.C. he became the editor of the paper.D. he wanted to live on himself10 .Franklin’s almanacs contained D .A. information for farmersB. wise sayingsC. poor Richard’s ideas.D. both A and BPassage 3A four-year study conducted by the Infant (婴儿) Testing Center in San Francisco, California, suggests that babies feel more comfortable around other babies than with strange adults. According to the study, babies benefit by being with their fellow infants daily. Whereas a baby might show fear of an adult stranger, he is likely to smile and reach out for an unfamiliar infant. By the time babies are one year old, they have begun to form friendships of a sort.The above findings, based on observation of 100 babies aged three months to three years, might prove interesting to working parents who must find day care for their babies. Family care in a private home, with several babies together, is probably the ideal way to care for babies under three. Dr. Benjamin Spock, well-known pediatrician (儿科医生) and author of books about babies, supports the idea. He says that family day care is better in theory than hiring a housekeeper or a babysitter.11. What would be a good title for the passage? CA. How to Test InfantsB. Parents and ChildrenC. Day Care for BabiesD. Choosing a Babysitter12. A baby is likely to feel more at ease with ___B__.A. a housekeeperB. an infantC. an adult strangerD. teenage children13. What does Dr. Benjamin Spock do? BA. He recommends babysitters.B. He writes baby books.C. He conducts studies on infants.D. He directs a testing center.14. According to the passage, how should working parents provide care for their babies? AA. Find a private home with other babies.B. Take their babies with them to work.C. Hire an adult to come into the home.D. Search for a large nursery with a good reputation.15. The author is talking to __D__.A. babies under threeB. researchers on infantsC. pediatriciansD. working parentsPassage 4About one hundred and thirty years ago, Thomas Edison of the US invented the light bulb(电灯). Edison's bulb has turned night into day ever since. But today, many want to turn the light off.The European Union recently decided that by 2009, people should stop using the Edison-style light bulb. Instead, they should use compact fluorescent lamps (节能灯)."CFLs save energy and last longer. They can save money in the long run," said a British official. CFLs use 67 percent (67%) less electricity than the older bulbs. They last up to 10 times longer. Scientists say that if everyone used CFLs, electricity use would be cut by 18 percent. There would also be much smaller amounts of greenhouse gas given off.But it's difficult to make people change their lighting habits. First the CFLs are more expensive. They cost eight times the price of the older bulbs. Many people don't like the CFL bulb. They find it too bright. You cannot change the light of a CFL, either.16. When was the Edison-style light bulb invented? BA. Early this century.B. About 130 years ago.C. A century ago.D. In the 1920s.17. What do many people want today? AA. To turn off the light.B. To make night even brighter.C. To turn day into night.D. To turn night into day.18. Who says that CFLs should take the place of the Edison-style light bulb? BA. Great Britain.B. The European Union.C. The United States.D. The United Nations.19. CFLs are better than the traditional light bulb in that ____D_____.A. they save electricityB. they last longerC. they give off less greenhouse gasD. all of the above20. Why is it difficult to change people’s lighting habits? BA. CFLs are not safe.B. CFLs cost more than the Edison-style light bulb.C. You can adjust(调节) the light of a CFL.D. People find CFLs are not bright enough.II. Vocabulary and Structure1. Just imagine Mary ____C____ in her favorite chair back home.A. to sitB. sitC. sittingD. has been sat2. Mr. Thomas found the coins while ____A____ in his back garden.A. diggingB. was diggingC. dugD. being digging3. Snap judgments, if ___B_____, have usually been considered signs of immaturity or lack ofcommon sense.A. taking seriouslyB. taken seriouslyC. take seriouslyD. to be taken seriously4. I'd offer to give you a lift if I ___D_____ my car here.A. haveB. am havingC. do haveD. had5. At the end of game, the whole crowd ____C____ their feet and cheered wildly.A. emerged fromB. rose fromC. got toD. stood up6. Being with his family for a few days I gained one or two insights ___A_____ the reason hebehaves the way he does.A. intoB. ofC. onD. off7. His thoughts were ___C____ from the subject by the arrival of his friends.A. attractedB. sufferedC. distractedD. related8. She is a ___C___ woman who is certain of her ideas and actions.A. significantB. awareC. confidentD. intense9. The method he used turned out to be ___A____ in improving the students' English.A. effectiveB. ableC. capableD. explicit10. The boss refused to give any ____B___ on the fact that his workers were out of jobs.A. responseB. commentC. answerD. reply11. They are teachers and don't realize ___A___ to start and run a company.A. what it takesB. what takes itC. what they takeD. what takes them12. He refuses to let others speak and ____D____ every meeting.A. confrontsB. affectsC. attachesD. dominates13. The creating of the steam machine, by James Watt, was a(n) ____B____ idea.A. spontaneousB. originalC. previousD. cautious14. Young children have a limited attention ___B_____ and can't focus on one activity for verylong.A. rangeB. spanC. reachD. spread15. The train was ___A_____ slow I was almost two hours late.A. soB. suchC. veryD. that16. He's not got another job yet and it's not ___C___ he will for some time.A. likesB. unlikeC. likelyD. like17.She shared her deepest thoughts and fears in handwritten letters with Mary __B__ they werechatting in her living room.A. althoughB. as ifC. becauseD. for18. He pretended to be very sick and she was _A___ into sympathy for him.A. fooledB. takenC. prescribedD. affected19. ___C___ I admit that the problems are difficult, I don't agree that they can't be solved.A. For fear thatB. BecauseC. WhileD. Until20. I'm going to spend the winter vacation in Shanghai, __D____ I have relatives.A. becauseB. whichC. thatD. where21. If you try to learn too many things at a time, you may get ____D___.A. alarmedB. scaredC. surprisedD. confused22. ___C_____ else goes, I won't.A. WhoB. WhomC. WhoeverD. He who23. Thanks go to the trashmen who leave the streets ___B_____ each night.A. cleanestB. cleanerC. cleaningD. more cleaner24. I ____C____ he'd do something silly; he's been acting strangely all week.A. may have knownB. would knowC. have knownD. had known25. With the job ____A____, he went to see a film with his colleagues.A. doneB. doingC. to doD. do26. Neither his colleagues nor his mother ___B_____ his marriage to that girl.A. acceptB. acceptsC. agreeD. agrees27. He makes up his mind to ___C_____ the post till the end of the year.A. keep inB. remain underC. stay atD. go on28. Good managing of a company ____A____ great efforts.A. calls onB. calls outC. calls inD. calls at29. Most people have no real idea how to change to healthy food, and Maureen was no ___C___.A. foundationB. possibilityC. exceptionD. ignorance30. He always knew what time it was, as if by ____A____.A. instinctB. imaginationC. reactionD. reality31. My uncle is great. In our family, he's ___C___ his cooking.A. famous aboutB. famous withC. famous forD. famous in32. The heating system here has an ___D___ temperature control.A. aggressiveB. intentionalC. accidentalD. automatic33. It is nice to travel with ___B___ paid by your employers, at no cost to yourself.A. facilitiesB. costsC. loansD. activities34. The gasoline __D____ destroyed the company and injured many people.A. exploredB. extendedC. exportedD. explosion35. Only two people survived the fire that ___A___ at midnight.A. broke outB. broke offC. broke upD. broke down36. To complete the task successfully, we have to get well prepared __A____.A. in advanceB. in detailC. in turnD. in force37. The policeman went from house to house, __A____ whether anyone had seen the lost boy.A. inquiringB. interruptingC. informingD. introduction38. ___D____ is a spell of warm sunshine.A. What do all of us needB. What all of us need doC. What need all of usD. What all of us need39. To be frank, I' d rather you _____D___ in the case.A. will not be involvedB. not involvedC. not to be involvedD. were not involved40. If you think that the illness might be serious you should not ____A__ going to the doctor.A. put offB. hold backC. put awayD. hold up41. ___C_____ 25 years ago next month, the club is holding a party for past and present members.A. FormingB. Being formedC. FormedD. To form42. A man walked in off the street and fell flat ___B_____ his face, unconscious.A. forB. onC. againstD. in43. ___D____ coming of the Space Age, a new area has been added to the study of the planets.A. WhileB. It is theC. When theD. With the44. It was the training that he had as a young man _____A__ made him such a good engineer.A. thatB. hasC. whatD. later45. ___D___ they reached the centre of the city, they stopped the car at a restaurant.A. Before a mile or so whenB. For a mile or so afterC. Further than a mile or soD. A mile or so beforeIII. Cloze:(1)Mice in general are not well-liked, but a mouse named Mickey has won the hearts of millions. Movies about Mickey Mouse have been __1_A_with audiences almost everywhere for more than forty years.Walt Disney, who created this lovely cartoon __2_B_, was born in Chicago in 1901. Later his family moved to a farm near Kansas City, where Walt worked for some time __3C__a newsboy. However, what he really enjoyed was drawing pictures. When World War I __4C__, he joined the Red Cross and went to France. After the war, Disney __5D__ to Kansas City to work for a company that made fairy story cartoons. This was the kind of work he liked best. He __6B__ up his mind to find better ways of making the cartoon movie __7A__ they would seem alive. Sound was just starting to be used in __8_B_, and Disney believed it had great possibilities. He quickly __9_A_ sound to his cartoons. When he made Mickey mouse talk on the film screen, audience were quite __10_D__. Mickey became a great success with both young and old.1. A. popular B. pleased C. satisfied D. strict2. A. picture B. character C. animal D. creature3. A. for B. with C. as D. after4. A. broke down B. broke up C. broke out D. broke in5. A. removed B. arrived C. visited D. returned6. A. did B. made C. put D. took7. A. so that B. as C. since D. when8. A. TV B. movies C. radio D. magazines9. A. added B. carried C. invented D. produced10. A. favorite B. favored C. delightful D. delighted(2)Coffee and tea are the most popular 1A in the world. Coffee is a favorite drink of Canadians. Many Canadians like to start their day 2_D a cup of coffee. At work, they may take a coffee break. Coffee break is a time _ 3_B stop and relax for a few minutes over a cup of coffee or a snack.___4_A is coffee so popular? For one thing, it has a rich, strong taste that many people like. It is served hot, with milk, cream or sugar. Many people like coffee in the morning because it helps them ____5 B . Coffee has caffeine in it. Caffeine gives people more energy.Every day, millions of people all over the world drink tea. Tea is the 6D drink of China, Japan, England and Russia In England, it is a custom to drink tea in the afternoon. In Japan, drinking tea is also a social _7B__and there are special rules for tea drinking.Tea comes from tea 8D . We make tea by pouring 9C water on dried tea leaves. People usually drink hot tea, but it can be served cold. Some people like to drink tea with milk or cream. Other people 10_A_milk or cream in tea, but they put in honey, sugar or lemon. Tea also has some caffeine in it.1. A. drinks B. drink C. water D. drinking water2. A. from B. at C. in D. with3. A. for B. to C. with D. at4. A. Why B. What C. Which D. When5. A. move away B. wake up C. come in D. look down6. A. personal B. general C. possible D. national7. A. study B. custom C. way D. belief8. A. roots B. stems C. branches D. leaves9. A. cooling B. running C. boiling D. fresh10. A. hate B. like C. enjoy D. love(3)Nobody wants to be 1D. Unfortunately our bodies can develop problems. When we aren't 2A , our bodies tell us. Sometimes a part of our body hurts. When a part of our body ____3 C , we say we have aches and pains. We can have aches and pains in different parts of the body.We call some simple 4B problems "aches." For example, we can have a headache, a toothache, an earache, a backache or a stomachache. Other simple problems are not 5D aches, so we describe them in different ways. For example, we can have a sore throat, a sore leg, a sore toe."Pain" is another word that we use to 6A a problem. We can have a pain in the chest, a pain in the shoulder or a pain 7C the back. A pain is strong. Also, a pain hurts in a specific place. When aches and pains aren't too 8B , we can buy medicine in the drugstore. Usually small aches go away quickly. When pain is more serious, we 9C to visit the doctor (or the dentist). The doctor asks us what our symptoms are. The doctor may have to do tests or take X-rays to 10 B what is wrong. Then he or she will tell us what to do.1. A. sleep B. bad C. cold D. sick2. A. healthy B. well C. health D. fat3. A. hurt B. hurting C. hurts D. have hurt4. A. healthy B. health C. well D. fat5. A. talked B. spoken C. seen D. called6. A. describe B. tell C. talk D. speak7. A. at B. on C. in D. over8. A. light B. serious C. series D. heavy9. A. having B. had C. have D. has10. A. believe B. know C. talk D. sayIV. Translate the following sentences from Chinese into English or English into Chinese:1.网上教育需要更多的投入来跟上课程进度。
K201409,厦门大学网络教育2014-2015学年第一学期《会计学原理(本科)》课程复习题及答案
厦门大学网络教育2013-2014学年第二学期《会计学原理(本科)》课程复习题一、填空题1.为了保证账簿记录的连续性,在每一会计年度结束,新的会计年度开始时,应按会计制度的规定,进行账簿的更换。
2.账户由借方和贷方两部分组成。
3.西汉“四柱清册”中的四柱是指“旧管”、“新收”、“开除”、“实在”四个方面,相当于现代会计术语中的“期初结存”、“本期收入”、“本期支出”、“期末结存”,利用“旧管+新收=开除+实在”的平衡公式,结算财产物资增减变化及其结果。
4.原始凭证按其来源不同,可以分为自制原始凭证和外来原始凭证。
5.普通日记账是用来记录全部经济业务的日记账。
它对企业发生的全部经济业务序时、逐笔进行登记,因而也称为分录簿。
普通日记账的账页格式有两栏式和多栏式两种。
6.1494年,意大利人卢卡·巴却里(Luca Pacioli)出版了算术、几何、比与比例概要《算术、几何、比与比例概要》(又称《数学大全》)一书,书中详述了复式簿记的原理和运用方法,后在全世界各国广为流传,为会计科学的建立和发展奠定了坚实的理论基础。
7.企业的经济业务虽然复杂,但从数量变化来看,不外乎增加和减少两种情况。
因此,账户的结构也相应划分为两个基本部分:借方和货方,分别用于记录资产和权益项目的增加和减少。
8.会计的数据资料具有连续性、系统性、综合性和全面性特点,能够综合反映已发生或已完成的各项经济活动,便于信息使用人了解和考核经济活动的过程和结果,并为企业决策奠定基础。
9.记账凭证按其适用范围的不同分为收、付款凭证和转帐凭证。
10.查找记账错误的方法一般分为全面检查和局部抽查两种。
11.财产物资的盘存制度就是确定财产物资实际结存数量的核算方法,即规定各种财产物资的收入、支出、结存在账簿中的记录方法,包括永续盘存制和实地盘存制两种制度12.到目前为止,记录经济业务的方式有两种,一种是单式记账法,一种是复式记账法。
13.企业资金的来源渠道主要有两条:一是权益融资,二是债务融资。
国际投资学试卷及答案
一、单项选择题(每小题1分,共15分)1、二次世界大战前,国际投资是以()为主。
A.证券投资 B.实业投资 C.直接投资 D.私人投资2、国际货币基金组织认为,视为对企业实施有效控制的股权比例一般是()。
A.10% B.25% C.35% D.50%3、以下哪个不是中国发展对外投资的目的()。
A.有利于充分利用国外自然资源B.有利于充分利用国外资金C.有利于扩大出口,加快国际化进程D.有利于提高国民收入,增加就业机会4、下面关于国际直接投资对东道国的技术进步效应描述不正确的是()。
A.国际直接投资对东道国的技术进步效应主要是通过跨国公司直接转移发挥的B.跨国公司将技术转让给东道国的全资子公司的方式效应最低C.合资方式下技术转移效应较高,但转移的技术等级一般较低D.跨国公司通过与东道国当地企业或机构合作研发将有助于推进东道国技术进步5、以下国际投资环境评估方法属于动态方法的是()。
A.道氏评估法B.罗氏评估法C.闽氏评估法D.冷热评估法6、以下不属于国际投资环境特点的是()。
A.综合性B.稳定性C.先在行D.差异性7、被誉为国际直接投资理论先驱的是()。
A.纳克斯B.海默C.邓宁D.小岛清8、以下不属于国际储备管理原则的是(a )A.多样性B.安全性C.流动性D.盈利性9.一个子公司主要服务于一国的东道国市场,而跨国公司母公司则在不同的市场控制几个子公司的经营战略是(a )。
A.独立子公司战略B.多国战略C.区域战略D.全球战略10、对外国政府贷款的说法中不正确的是( d )A.外国政府贷款常与出口信贷混合使用B.外国政府贷款利率低,期限长,有时还伴有部分赠款C. 使用外国政府贷款要支付少量管理费D.外国政府贷款可用于购置任何国家或地区的设备或原料11、在证券市场线上,市场组合的β系数为( c )。
A.0B.0.5C.1.0D.1.512.以下不属于国际投资环境评价形式的是(b )。
A.专家实地考察B.问卷调查C.东道国政府评估D.咨询机构评估13、弗农提出的国际直接投资理论是( a )。
国际投资学的试题及答案
国际投资学的试题及答案国际投资学是一门研究跨国公司和个人如何在全球范围内进行投资决策的学科。
它涉及到资本流动、外汇风险、国际金融市场、跨国公司财务策略等多个方面。
以下是一些可能的国际投资学试题以及相应的答案,供学习参考。
试题1:什么是国际投资,它与国内投资有何不同?答案:国际投资指的是跨越国界进行的投资活动,包括直接投资和证券投资。
它与国内投资的主要区别在于涉及跨国界的资本流动,需要考虑汇率变动、政治风险、文化差异等因素。
国内投资则主要指在一个国家内部进行的投资活动,通常不涉及跨国问题。
试题2:描述国际直接投资(FDI)和国际证券投资(FPI)的区别。
答案:国际直接投资(FDI)指的是投资者对外国企业拥有持久利益的投资,通常涉及控制权或管理权的转移,如设立子公司、合资企业等。
而国际证券投资(FPI)则是指投资者购买外国的证券,如股票、债券等,通常不涉及对企业的控制权。
试题3:什么是外汇风险,它对国际投资有何影响?答案:外汇风险是指由于汇率变动导致投资价值变化的风险。
对于国际投资者来说,外汇风险可能导致投资回报的不确定性增加。
例如,如果投资者用本国货币投资外国资产,汇率的不利变动可能会减少其投资的实际回报。
试题4:请解释什么是“三角套利”,并给出一个例子。
答案:三角套利是一种利用不同国家货币汇率之间的差异来获利的策略。
它涉及三个国家的货币,通过在不同市场之间买卖这些货币来实现无风险利润。
例如,如果美元兑欧元的汇率为1:1,欧元兑日元的汇率为100:1,而美元兑日元的汇率为100:1,那么投资者可以先用美元购买欧元,然后用欧元购买日元,最后将日元兑换回美元,从而实现利润。
试题5:什么是“国际资本流动”?它对全球经济有何影响?答案:国际资本流动指的是资本从一个国家流向另一个国家的过程,包括直接投资、证券投资、贷款和援助等。
它对全球经济有着深远的影响,可以促进资源的有效配置,提高生产效率,但也可能导致资本流入国的资产价格泡沫和资本流出国的经济波动。
国际投资学习题及答案.doc
第一章际投资概述一、填空题1.国际投资除具有国内投资的一般特征外,还具有投资主体 _____________ ,投资客体_____________蕴含资产的_______________ ,等方面的特征。
2.国际投资客体主要包括 __________ 、_______________ 、 ____________ 等三类资产。
3. ___________________________________________ 根据投资主体类型,国际投资可分为和___________________________________________________ 。
4. ____________________________________ 当今国际投资的流动主要集中在、和这“大三角”之间。
5. _________________ 是当今发展中国家中吸引外资最多的国家。
二、选择题(单选)1.国际货币基金组织认为,视为对企业实施有效控制的股权比例一般是 ___ ?A 10%B 25%C 35%D 50%2.区分国际直接投资和国际间接投资的根本原则是 ____ 。
A股权比例B有效控制C持久利益D战略关系3.1914年以前,在全球国际投资中最大输出国是____ 。
A法国8美国C德国D英国4. ___________________________________ 近年来,国际投资发扎最快的产业部门.A第一产业B第二产业C第三产业D制造业5. _____________________________ 二次世界大战前,国际投资是以为主。
A证券投资B实业投资C直接投资D私人投资三、是非题1.国际投资一般而言较国内投资风险更大。
()2.统计表明,国际直接投资较国际间接投资波动性更大。
()3.国际投资的发展对世界经济的影响有百利无一害。
()4.近年来,发展中国家在吸收FDT方面已超过发达国家,占据主要地位。
()5.近年来,国际投资的发展很大程度上得益于政策的日益自由化。
K201409《国际商务英语(专科)》复习题
厦门大学网络教育2014-2015学年第一学期《国际商务英语(专科)》课程复习题一、请将下列英文单词翻译成中文(1) umpire仲裁人(2) vendor供应商(3) Cash With Order认购即付(4) mortgage债权(5) market share市场占有率; (6) Free of Particular Average单独海损不赔(7) C.I.F. I.到岸岛(8) F. A. A.(9) Open policy开放政策;(10) Mail transfer邮件传输(11) Advice of drawing提款通知(12) Foul bill of lading不结提单(13) Consignment merchandise代销商品(14) C.I.F. & C到岸价格和C(15) Negotiation of draft汇票的议付二、请将下列短语翻译成英文(1) 贴现行情discount quotation(2) 原产地证明书certificate of origin(3) 保兑银行confirming bank (4) 暂行条例interim regulations(5) 总经销商sole distributor(6) 透支overdraw(7) 关税协定tariff compact(8) 收盘closing quotation(9) 传票summons(10) 股票shares(11) 租船契约charter party(12) 债权人creditor(13) 出口申请书Export application(14) 水渍险W.P.A.(15) 付款交单document against payment三、单选题1. Thank you for your letter of March 3, in which you promised immediate shipment of the gloves we _________________ on January 10.B) ordered2. Could you please _________________ this and see what you can do about effecting the delivery as soon as possible.B) look after3. Your letter addressed to the ABC company has been _________________ us for attention.A) transformed to4. It is our policy to develop trade with friendly countries on the _________________ of equality, mutual benefit and exchange of needed goods.B) basis5. We are sending you, under _________________ , by airmail a copy of the latest catalog.A) separate cover6. We shall be glad if you will send us samples with your lowest prices and best discount for _________________.D) cash7. Your firm has been _________________ to us by Mr. Zhang, with whom we have done business for many years.A) recommended8. Please offer quotations which can be supplied from _________________.A) stock9. In _________________ with your request, we have marked the price of each article which you wished to know.B) compliance10. As requested, we are _________________ our quotation therefore in triplicate and shall appreciate your placing the order with us as early as possible.A) submitting11.We are sorry we cannot _________________ your counter-offer.A)entertain12.Your offer is out of line _________________ ruling market here.A)with13.We regret that there is no stipulation of transshipment _________________ allowed in your L/C.C) being14.We are glad we have been able to put the business to _________________.C) success15.It is necessary to _________________ the specifications to the requirements.B) conform16.We appreciate your effort _________________ pushing the sale of our products these years.D) in17.You may _________________ the expenses incurred.B) charge18.We should never omit a word _________________ the expense of clearness.B) at19.Insurance is to be _________________ by the buyer if a transaction is concluded on FOB or CIF basis.B) covered20.With regard to Contract No. 11, we are agreeable _________________ D/P payment terms.B) to21. We enclosed our official order for 40 cases, _________________ you will note that the shipment is to be effected in September.A) from which22. This offer will remain _________________ until July 30, 2015.A) firm23. We have been in business since 2002, and therefore have wide experience in all the _________________ we handle.C) lines24. Please inform us _________________ your trade terms and forward samples and product brochures.A) of25. We wish to buy _________________ tea and coffee cups and sauces of different shapes.A)quality26. We can assure you that all your orders will _________________ our immediate attention.D) receive27. We are convinced that with joint efforts business between us _________________ to our mutual benefit.B) will be developed28. Your letter of May 7th _________________ to the Import Company has been passed onto us for attention.C) addressed29. We hope you will _________________ our claim.B) full settle30. You will be responsible _________________ of the goods in transit.D) for the loss四、阅读理解Adam Smith, the father of free trade and author of the free trader’s bible, The Wealth of Nations, has just been honored twice. Firstly, his face will now appear on the new $20 note to be printed by the Bank of England. And secondly, he s the subject of a book just published by the American satirist O’Rourke in a series called “Books the changed the World”.So what did Adam Smith stand for exactly? Even though he wrote in the 18th century, many of his observations about the economy are true today. His basic theory was that if you give people the freedom to improve their own economic situation, they will also improve everyone else’s: “it is not form the benevolence of the butcher the brewer, or the baker that we expect our dinner, but from their regard to their own interest.”Writing at the time of the industrial revolution and the beginning of manufacturing, he also recognized the importance of dividing work into specialized tasks. In other words, if each person concentrated on a task they were good at, the total effort would be more productive. This lesson has now been adopted on a global scale. In each developed or developing country goods are imported from other countries where they are produced most cheaply and efficiently. In this way free trade becomes the natural way to improve standards of living all over the world.O’Rourke agrees that Smith’s ideas are still relevant to us, but not because of economics. He disagrees with people who think that there is something immoral in believing in the individual’s right to promote his own profit and self-interest. “His importance was not just to economics,it was the connection of morality to economics,”says O’Rourke. “That was his true genius.”Smith believed that people were motivated by more than profit; they also wanted to please other people and to win their approval. By what he called “self-command” people are able to control selfish feelings and do “benevolent acts”, that is to show kindness and charity towards others.O’Rourke thinks that the important economic message of Adam Smith’s is for governments. The less that they interfere in the economy, the better it does. “Economics is forever telling us to leave people alone,” he says. The trouble, he thinks, is that governments are always trying to regulate business and economic activity in order to justify their own existence.1.The title of Adam Smith’s book is _________________.A)Books that Changed the world2.Adam Smith believed that people _________________.A).B)Value freedom more than anything else.3.If work is divided into specialized tasks, _________________.A)it creates more employment.B)it makes goods more expensive.C)you can make more specialized products.D)you can produce more.4.The principle of free trade will _________________.A)make everyone in the world richer.B)help to make goods cheaper.C)be adopted in under-developed countries.D)not improve the quality of goods.5.Smith also believed that people naturally wanted to _________________.A)be kind to others.B)control others.C)work harder than others.D)educate themselves.五、汉译英(一)敬启者:贵方4月28日来函收悉,谢谢。
厦门大学2014-2015《金融学(专科)》复习题答案全[优质文档]
厦门大学网络教育2014-2015学年第一学期《金融学(专科)》课程复习题一、单项选择题1.下面哪项不属于货币具有时间价值的原因?()。
C.货币购买力会受通货膨胀的影响而改变2.()是指投资人由于将钱借给张三而失去借给李四的机会以致损失的最起码的收入。
A.机会成本3.按照()来划分,外汇可以分为贸易外汇与非贸易外汇。
D.外汇的来源与用途4.金融市场的()功能是指金融市场引导众多分散的小额资金汇聚成为可以投入社会再生产的资金集合功能。
B.聚敛5.()是指对回购协议进行交易的短期融资市场。
A.回购市场6.以下哪项不属于影响汇率变动的经济因素?()。
D.政治局势7.按照()划分,金融市场可以分为初级市场、二级市场、第三市场和第四市场。
B.金融资产发行与流通8.()是根据一定的信托契约原理组建的代理投资制度。
D.契约型基金9.()是一个能综合反映物价水准变动情况的指标。
A.国内生产总值冲减指数10.如果贴现率小于内部收益率,证明该股票的净现值大于零,即股票价值被()。
A.低估11.金融市场的()功能是指金融市场对宏观经济的调节作用。
C.调节12.一般情况下,一国外汇储备不足或太少,该国货币汇率往往会()。
B.下跌13.所谓的(),是指银行同业之间债权债务的清偿和资金的划转。
B.清算14.按照基金的法律地位划分,有()基金和公司型基金两类。
B.契约型15.货币政策中介指标的选取标准不包括()。
A.可比性B.可控性C.可测性D.抗干扰性二、判断题1.管制利率往往可以起到提高资金效率的效果。
(错)2.按月计息,习惯叫“拆息”或“日拆”,多用于金融业之间的拆借。
(错)3.目前,只有极少数国家在汇率的标价上采用间接标价法。
(对)4.风险大的金融资产,其最终实际收益率一定比风险小的金融资产低。
(错)5.检验市场效率的一种方法是检验某种特定的交易或投资策略在过去是否赚取了超额利润。
(对)6.1580年,在意大利建立的威尼斯银行是历史上首先以“银行”为名的信用机构。
厦门大学网络教育第一学期国际商务英语复习题答案
厦门大学网络教育2013-2014学年第一学期《国际商务英语(本科)》复习题一、请将下列英文单词翻译成中文Letter of thanks 感谢信 Terms of payment 付款方式,付款条件Mutually beneficial cooperation 双赢合作,互利合作 Written request for leave 请假条Resignation letter 辞职信 Advertisement 广告Marketing manager 营销经理 Arrange an interview 安排面试Reports 报告 present position 目前职位the financial benefits 经济效益 understanding my decision 理解我的决定dissatisfaction with 对。
不满,对。
有意见 offer二、英译汉1、Frankly, I was certainly sorry to lose her when she moved to Chicago with her family.坦白说,当她要和她家人一起搬到芝加哥时,我感到非常遗憾。
2、We want to keep her with us as long as she wants to stay.只要她愿意留下,我们很乐意雇用她。
3、In case of tight deadlines, she often took work home with her and came back the next day with the work perfectly done.在时间紧迫的情况下,她经常把工作带回家,第二天来的时候工作已经很完美的完成了。
4、Under these circumstances, we have to return the goods to you at your expenses.在这些情况下,我们必须把货物寄还给贵司,运费由贵司承担。
厦门大学网络教育2013-2014学年第一学期《投资学(本科)》复习题
厦门大学网络教育2013-2014学年第一学期《投资学(本科)》复习题一、判断题1.生活中到处充斥着期权,抵押贷款就既可以看成看涨期权又可以看成看跌期权。
√2.马柯维茨均值方差模型的两大假设是收益最大化和厌恶风险。
√3.开放式基金一般都是在证券交易所交易,除ETF和LOF外。
×4.强有效市场认为证券价格不仅仅包括历史信息和公开信息,还有内幕信息。
√5.如果一个项目的净现值是正数,则表明该项目未来现金流出的现值要大于未来现金流入的现值。
×6.尽管每位投资者的最佳资产组合会有差异,但是他们的最佳资产组合中的风险资产组合的构成必然是一样的。
√7.证券市场线只能用于描述有效组合的收益率与风险的关系。
×8.在其他属性保持不变时,债券价格与债券应得收益率呈正向变动关系,应得收益率越高,债券价格越高。
×9.如果市场是完全有效的,仍可采用积极的投资组合策略。
×10.β值衡量的是某一证券或者证券组合的总风险。
×11.交易所要向期权卖方收保证金。
√12.效用函数公式中变量A表示投资者的收益要求。
×13.特雷纳比率衡量的是单位系统性风险的超额收益率。
√14.测度分散化投资组合中的某一证券的风险用的是协方差。
√15.欧式期权允许购买者在期权到期日之前的任意时候选择执行权利。
×二、简答与辨析题1.封闭式基金与开放式基金二者的主要区别是哪几个方面?(1)基金规模的可变性不同。
封闭式基金均有明确的存续期限,在正常情况下,基金规模是固定不变的。
而开放式基金所发行的基金份额始终处于"开放"的状态。
这是封闭式基金与开放式基金的根本差别。
(2)基金份额的买卖方式不同。
封闭式基金发起设立时,投资者可以向基金管理人或销售机构认购;当封闭式基金上市交易时,投资者又可在证券交易所按市价买卖。
而投资者投资于开放式基金时,则可以随时向基金管理人或代理销售机构申购或赎回。
厦门大学远程教育在线练习-投资学(专)
厦门大学远程教育在线练习-投资学(专)厦门大学远程教育在线练习-投资学(专)一、单选题(共15道)1、为在满足明确的风险承受能力和适用的限制条件下,实现既定的回报率要求的策略是()。
(1.0分) (正确的答案:C )A、投资限制B、投资目标C、投资政策D、上述各项均正确E、上述各项均不正确2、风险容忍水平对而言非常高的是()。
(1.0分) (正确的答案:A)A、银行B、财产保险公司C、人寿保险公司D、A和BE、A和C3、投资管理的第一步是()。
(1.0分) (正确的答案:A )A、确定投资目标B、制定投资政策C、选择投资组合策略D、选择证券评估E、投资绩效4、下列哪项不是机构投资者?()(1.0分) (正确的答案:E)A、投资基金(Investment Funds)B、养老基金(Pesion Funds)C、捐赠基金(Endowment Funds)D、保险公司E、个人5、投资管理的过程的主要参与者有()。
(1.0分) (正确的答案:D)A、投资者(出资者)B、专业的投资管理人员(投资经理)C、投资顾问和评估者D、以上均是6、一种对投资者在资产投资方面的限制是()。
(1.0分) (正确的答案:A )A、投资限制B、投资目标C、投资政策D、上述各项均正确E、上述各项均不正确7、从经济学角度如何定义投资?()(1.0分) (正确的答案:A )A、投资就是人们对当期消费的延迟行为。
B、投资就是现金流的规划。
C、投资就是投机。
D、投资就是赌博。
8、从财务角度如何定义投资?()(1.0分) (正确的答案:B )A、投资就是人们对当期消费的延迟行为。
B、投资就是现金流的规划。
C、投资就是投机。
D、投资就是赌博。
9、下列哪项是投资者要面对的问题?()(1.0分) (正确的答案:E )A、现在消费,还是将来消费?B、实物投资,还是证券投资?C、投资人的权益有保障吗?D、如何实现预期收益?E、以上均是10、投资管理的基石不包括下列哪项?()(1.0分) (正确的答案:C )A、投资学理论B、财务金融和经济数据库C、投资者的天分D、计量经济技术和相关软件11、常见的财务、金融和经济数据库有哪些?()(1.0分) (正确的答案:D )A、回报率数据库、基础数据库(盈利、红利等)B、经济数据库(GDP、CPI、利率、汇率等)C、综合数据库(市盈率、红利收益率等)D、以上均是12、投资和投机的区别是()。
国际投资学期末考试试题(含答案-已整理好)概要
国际投资学复习题单项选择题1.国际投资的根本目的在于( C )A.加强经济合作 B.增强政治联系C.实现资本增值 D.经济援助2.( B )是投资主体将其拥有的货币或产业资本,经跨国流动形成实物资产、无形资产或金融资产,并通过跨国经营,以实现价值增值的经济活动.A。
国际直接投资 B.国际投资C。
国际间接投资 D。
国际兼并3.内部化理论的思想渊源来自( A )A。
科斯定理 B.产品寿命周期理论C.相对优势论D.垄断优势论4.下列半官方国际投资机构中,区域性金融及合作援助机构是( B )A.经济合作发展组织 B.亚洲开发银行C.国际货币基金组织 D.世界银行5.下列选项中,属于期权类衍生证券是( B )A.存托凭证 B.利率上限或下限合约C.期货合约 D.远期合约6.国际投资时投资者对东道国投资经济环境首要考虑的经济政策是( C )A.产业政策 B.税收政策C.外资政策 D.外汇政策7.以证券承销、经纪为业务主体,并可同时从事收购策划、咨询顾问、资金管理等金融业务的金融机构,在美国叫做( C )A.证券公司B.实业银行C.投资银行D。
有限制牌照银行8.( C )是对少数投资者发行的私人投资基金,它往往通过财务杠杆,在高于市场风险的条件下,牟取超额收益率.A。
保险金 B.共同基金C。
对冲基金 D.养老金9.国际投资中,( B )指由于汇率变动使分支公司和母公司的资产价值在会计结算时可能发生的损益。
A.交易汇率风险 B.折算上的汇率风险C.经济汇率风险 D.市场汇率风险10.( B )是政府和民间商业银行联合提供的一揽子贷款。
A.买方信贷B.混合信贷C。
卖方信贷 D。
出口信贷11.国际投资中的政治风险防范主要表现在生产和经营战略及( B )上。
A.利用远期外汇市场套期保值 B.融资战略C.提前或推迟支付 D.人事战略12.跨国公司以( A )所进行的跨国生产加深了国与国之间的一体化程度。
A.股权和非股权安排方式 B.高科技方式C.信息化方式 D.统筹化方式13.政府贷款是期限长、利率低、优惠性贷款,贷款期限可长达( D )。
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厦门大学网络教育2014-2015学年第一学期《国际投资》课程复习题一、选择题1.一般来说,那些生产规模大、技术水平高,且在国际市场中处于优势地位的大型跨国公司倾向于通过以下何种形式对外直接投资(A)A.独资企业B.合资企业C.股权式合资企业D.契约式合资企业2.以下哪一项不是跨国公司的基本特征(D)A.生产经营活动的跨国化B.经营战略的全球化C.内部管理的一体化D.外部管理的一体化3.以下哪一项是对垄断优势理论的正确评价(D)A.垄断优势理论的全部内容都是科学的B.垄断优势理论使用的是动态分析方法C.垄断优势理论是英国对外直接投资的产物,可以对20世纪60年代以来广大发展中国家的企业的对外投资现象做出科学和合理的解释D.垄断优势理论突破了国际资本流动导致对外直接投资的传统理论框架,将对外直接投资理论从传统的国际贸易和国际资本理论中独立出来,开创了国际直接投资理论研究的先河4.按投资期限划分,国际投资可分为(D)A.海外私人投资和官方投资B.国际直接投资和国际间接投资C.债券投资和股票投资D.长期投资和短期投资5.股权参与式投资包括(A)A.独资企业与合资企业B.许可证合同与管理合约C.销售协议与股权经营D.独资企业与销售协议6.国家风险的两个重要来源是(A)A.金融风险和政治风险B.经济风险和外汇风险C.政治风险和经济风险D.金融风险和经济风险7.马克维茨理论的基本假设中不包括(D)A.投资者反对风险且追求效用最大化B.投资者是在期望收益和期望收益标准差的基础上决定投资组合C.投资者都具有相同的单一的持有期D.投资者追求风险和利润最大化8.资本资产定价模型(CAPM)假设(C)A.投资者是风险中性的B.一致性预期假设C.投资者关心实际收益D.存在交易成本和税收9.(B)是股份有限公司发给投资者用以证明投资者对公司资产拥有的凭证A.债券B.贷款凭证C.混合贷款凭证D.股票10.属于投资环境中基础设施因素的是(D)A.经济制度和经济体制B.市场条件C.国际法律保护D.能源供应设施的建设二、填空题1.全球债券的三个特点分别是、全球交易高度流动性和。
即全球发行、全球交易高度流动性和借款人信用级别高且多为政府机构。
2.结构性标准主要从企业的跨国程度、企业的所有权、高级经理人员的国籍和企业的组织形式等来确定一家企业是否属于跨国公司。
企业的跨国程度、企业的所有权、3.国际债券的种类包括:、可转换债券、、直接债券、零息债券和双重货币债券。
直接债券(Straight Bonds)浮动利率债券(Floating-rate Notes,FRNS)可转换债券(Convertible Bonds)附认股权证的债券(Bonds with Equity Warrants)零息债券(Zero-coupon Bonds)双重货币债券(Dual Currency Bonds)4.国家风险的两个重要来源是和。
政治风险和金融风险5.跨国并购可分为、垂直并购和。
水平并购、垂直并购、中心型并购和混合型并购6.外汇风险的三种类型分别是折算风险、和经济风险。
交易风险,折算风险,经济风险7.跨国公司在制定子公司红利支付政策时要考虑诸多因素,如、和政治风险等。
如税收、政治风险、外汇风险等8.国际投资环境因素分为自然环境、、、法律环境和。
自然环境、政治环境、经济环境、法律环境、社会文化环境9.跨国公司契约进入目标市场模式也称之为许可证交易。
三、简答题1.小明将其压岁钱1000元存入银行并保持5年不动,(1)若按照12%的单利计算,小明在第5年末可以得到的本利和是多少?(2)若按照12%的福利计算,小明在第5年末可以得到的本利和是多少?(提示:(P/S,12%,5)=0.567,(F/S,12%,5)=1.762)1、某人在2005年1月1日存入银行1000元,年利率为4%。
要求计算:(1)每年复利一次,2008年1月1日存款账户的余额是多少?(2)每季度复利一次,2008年1月1日存款账户的余额是多少?解:(1)1000×(1+4%)3=1000×1.125=1125元(2)1000×(1+4%/4)12=1000×(1+1%)12=1000×1.127=1127元2.国际投资环境的分类有哪些?(一)从国际投资环境包含因素的多少,可以分为狭义的投资环境和广义的投资环境。
(二)从地域范围上划分,可以分为宏观投资环境和微观投资环境。
(三)从投资环境表现的形态(物质与非物质性)来看,可以分为硬环境和软环境。
(四)从投资环境各因素的稳定程度来划分,可以分为自然因素、人为自然因素和人为因素三类。
3.跨国公司智能一体化战略演变要经历哪三个阶段?1、独立子公司战略2、简单一体化战略3、复合一体化战略4.某企业拟购置一台柴油机,更新目前使用的汽油机,每年可节约燃料费300元,但柴油机价格较汽油机贵1500元。
问柴油机应使用多久才划算(假设利率为15%,每年复利一次)?(提示:(F/A,15%,4)=4.993,(P/A,15%,10)=5.019)9、某企业拟购买一台柴油机,更新目前的汽油机。
柴油机价格较汽油机高出2000元,但每年可节约燃料费用500元。
若利率为10%,则柴油机应至少是用多少年对企业而言才有利?解:已知:PA=2000,A=500,I=10%,则P/A,10%,n=2000/500=4查普通年金现值系数表,与I=10%相对应的系数中,大于4的系数值为4.3553,对应的期数为6,小于4的系数值为3.7908,对应的期数为5,因此期数必定在5和6之间,用插值法计算如下:(6-X)/(6-5)=(4.3553-4)/(4.3553-3.7908),期数X=5.4年,即此柴油机至少用5.4年对企业而言有利。
5.请简要表述全球债券的概念及其特点。
全球债券。
它是指在全世界各主要资本市场同时大量发行,并且可以在这些市场内部和市场之间自由交易的一种国际债券。
全球债券有三个特点,即全球发行、全球交易高度流动性和借款人信用级别高且多为政府机构。
全球债券的计息方式目前主要采用固定利率,也有少量的浮动利率债券和零息债券,期限从2年到20年不等,通常为5年或10年。
6.假设投资者10年内每年年底要从其银行账户上取出1000元,并于第10年年末将其账上的钱全部取完,那么按14%的复利率,他一开始应该在账户上存入多少钱?若复利率为18%,他一开始应存多少钱?(提示:(P/A,14%,10)=5.216,(P/A,18%,10)=4.494)假定年利率为10%,某投资者欲在3年内每年年末收回10000元,那么他当前需要存入银行()元。
(不考虑利息税。
)应该是期末取款,用了期初取款:=PV(10%,3,10000,0,0)=-24868.52即是:((x*1.1-10000)*1.1-10000)*1.1=100001.1x=(10000/1.1+10000)/1.1+10000x=((10000/1.1+10000)/1.1+10000)/1.1=24869如果你将一笔现金存入银行,以便在以后的10年中每年末取得1000元,你现在应该存入多少钱呢?假设存款年利率为5%。
PV=C*1/r*[1-1/(1+r)^t=1000*1/10%*[1-1/(1+10%)^10]=1000*6.14457=6144.57(元)其中,C为每年收到的等额年金,r为贴现率,t为期数。
或者,如果你有年金现值系数表,查10年期、利率10%的年金现值系数——A(r,t)=A(10%,10)=6.1446,则:PV=C*A(r,t)=1000*6.1446=6144.6(元)所以现在应该存入6144.6元。
您可以验算一下,现在存入这样一笔钱,存入一个利息为10%的帐户,每年年末取出1000元并重新计算本息,到10年后是不是刚好取完。
7.简述中国对外投资的基本原则:(1)平等互利;(2)讲究实效;(3)形式多样;(4)共同发展。
四、论述题1.请详细论述跨国公司的产生与发展过程。
一、跨国公司的产生和初步发展期(19世纪中后期—一战前)跨国公司是垄断资本主义高度发展的产物。
它的出现与资本输出密切相关。
19世纪末20世纪初,资本主义进入垄断阶段,资本输出大大发展起来,这时才开始出现少数跨国公司。
当时,发达资本主义国家的某些大型企业通过对外直接投资,在海外设立分支机构和子公司,开始跨国性经营。
例如,美国的胜家缝纫机器公司、威斯汀豪斯电气公司、爱迪生电器公司、英国的帝国化学公司等都先后在国外活动。
这些公司是现代跨国公司的先驱。
二、跨国公司的缓慢发展期(两次世界大战之间)在两次世界大战期间,跨国公司在数量上和规模上都有所发展。
受战争和1929经济危机影响,总体上跨国公司发展缓慢。
三、跨国公司的高速发展期(二战之后)第二次世界大战后,跨国公司得到迅速发展。
美国跨国公司的数目、规模、国外生产和销售额均居世界之首。
据联合国贸易与发展会议公布的《1993年世界投资报告》中对全球跨国公司的排名,前十名依次是英荷壳牌集团RoyaIDutch Shell,美国的Ford、GM、Exxon、IBM,英国石油BritishPetroleum,瑞典及瑞士合资的Asea Brown Boveri,瑞士的Nestle,荷兰的飞利浦,美国的Mobil。
前十名中美国占了五名。
这是按公司海外资产进行的排名。
若按销售额排列,美国依然居前列。
1987年按销售额排列的世界最大跨国公司的金字塔,在高踞塔尖的23家中,美国占了10家,平均每家年销售额高达250亿美元。
在紧接塔尖之下的52家中,美国占了21家,平均每家年销售额达100亿美元。
1987年600家世界最大跨国公司的销售总额高达4万亿美元,其中美国占42%,西欧占32%,日本占18%,发展中国家和地区仅占2%。
2.请详细阐述资本资产定价模型的原理。
Sharpe(1964),Lintner(1965)和Black(1972)在马克威茨的资产组合理论的基础上提出了著名的资本资产定价模型(CAPM),用资产的预期收益率和β系数描述收益和风险的关系,从而大大简化了运算,为把投资组合理论应用于实践提供了可行的途径,标志着组合投资理论的成熟。
资本资产定价模型是第一个在不确定条件下,使投资者实现效用最大化的资产定价模型,其核心思想是在一个竞争均衡中对有价证券定价,它的出现导致了西方金融理论的一场革命。
最初的CAPM建立在严格的假设条件下,忽略了现实世界中存在的许多真实情况。
此后,有许多经济学家扩展和调整该模型,以便容纳资本市场中的现实因素。
CAPM模型对于资产风险与其预期收益率之间的关系给出了精确的预测,使我们可以对潜在投资项目估计其收益率,也使得我们能对不在市场交易的资产作出合理的估计,在现实生活中也有着广泛的运用。