国际财务管理作业

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浙江大学远程教育《国际财务管理作业》1

1.国际企业在全球范围内对公司内部的收付款项进行综合调度，抵消部分收付款额度，而只将抵消后的净额进行结算的方法称为（）。

A 抵消结算B 净额结算C 内部结算D 统筹结算正确答案:B2.国际企业国外子公司向母公司转移资金的最重要方式是（）。

A 股利B 内部信贷C 支付特许权费D 支付管理服务费正确答案:A3.国际企业在考虑国家风险的情况下，决定采用调高项目报酬率的方式辅助投资决策，这就是（）。

A 调整折现率法B 调整现金流量法C 调整利率法D 降低成本法正确答案:A4.不论跨国纳税人的收入源于何国，只要是本国居民，就要对其全部收入予以征税，这属于（）。

A 按属地原则确立的税收管辖权B 居住管辖权C 地域管辖权D 收入来源管辖权正确答案:B5.可口可乐公司采用在其他国家设立制造厂而非特许经营的模式，从国际直接投资角度来看，属于国际直接投资的（）动机。

A 避开贸易壁垒B 保护无形资产C 利用国外生产要素D 实现纵向一体化正确答案:B6.关于国际商业银行贷款的表述不正确的是（）。

A 不需要专款专用B 贷款金额大C 贷款成本较低D 贷款手续简便正确答案:C7.国际转移价格的强化管理功能是指（）。

A 在世界范围内调配公司资源，实现优化配置B 将尽可能多的利润转移到税率较低的国家，降低税负C 对子公司实行业绩评价和管理控制，体现分权管理式管理8.关于融资性租赁与经营性租赁异同点的表述，正确的是（）。

A 融资性租赁的租赁公司保留设备所有权B 融资性租赁合同期内，租赁设备的管理、维修和保养由出租人负责C 经营性租赁的租期一般较长D 租赁期满后，经营性租赁的承租人可以按资产的公平市价购买设备正确答案:A9.不属于国际资金转移管理方式的是（）。

A 内部信贷B 支付特许权费C 转移定价D 购买原材料正确答案:D10.为了使国际企业的整体纳税额减少，由高税国子公司向低税国子公司的出口业务应采取（）。

A 高价策略B 低价策略C 市价策略D 议价策略正确答案:B11.跨国纳税人利用两个或两个以上国家的税法和国际税收协定的差异、漏洞、特例和缺陷，规避或减轻其总纳税义务的行为是（）。

国际财务管理作业Chapter 2 - Test Bank

Chapter 2—International Flow of Funds1. Recently, the U.S. experienced an annual balance of trade representing a ____.a. large surplus (exceeding $100 billion)b. small surplusc. level of zerod. deficit2. A high home inflation rate relative to other countries would ____ the home country's current accountbalance, other things equal. A high growth in the home income level relative to other countries would ____ the home country's current account balance, other things equal.a. increase; increaseb. increase; decreasec. decrease; decreased. decrease; increase3. If a country's government imposes a tariff on imported goods, that country's current account balancewill likely ____ (assuming no retaliation by other governments).a. decreaseb. increasec. remain unaffectedd. either A or C are possible4. ____ purchases more U.S. exports than the other countries listed here.a. Italyb. Spainc. Mexicod. Canada5. An increase in the current account deficit will place ____ pressure on the home currency value, otherthings equal.a. upwardb. downwardc. nod. upward or downward (depending on the size of the deficit)6. If the home currency begins to appreciate against other currencies, this should ____ the currentaccount balance, other things equal (assume that substitutes are readily available in the countries, and that the prices charged by firms remain the same).a. increaseb. have no impact onc. reduced. all of the above are equally possible7. The International Financial Corporation was established to:a. enhance development solely in Asia through grants.b. enhance economic development through non-subsidized loans (at market interest rates).c. enhance economic development through low-interest rate loans (below-market rates).d. enhance economic development of the private sector through investment in stock ofcorporations.8. The World Bank was established to:a. enhance development solely in Asia through grants.b. enhance economic development through non-subsidized loans (at market interest rates).c. enhance economic development through low-interest rate loans (below-market rates).d. enhance economic development of the private sector through investment in stock ofcorporations.9. The International Development Association was established to:a. enhance development solely in Asia through grants.b. enhance economic development through non-subsidized loans (at market interest rates).c. enhance economic development through low-interest rate loans (below-market rates).d. enhance economic development of the private sector through investment in stock ofcorporations.10. Which of the following would likely have the least direct influence on a country's current account?a. inflation.b. national income.c. exchange rates.d. tariffs.e. a tax on income earned from foreign stocks.11. The "J curve" effect describes:a. the continuous long-term inverse relationship between a country's current account balanceand the country's growth in gross national product.b. the short-run tendency for a country's balance of trade to deteriorate even while itscurrency is depreciating.c. the tendency for exporters to initially reduce the price of goods when their own currencyappreciates.d. the reaction of a country's currency to initially depreciate after the country's inflation ratedeclines.12. An increase in the use of quotas is expected to:a. reduce the country's current account balance, if other governments do not retaliate.b. increase the country's current account balance, if other governments do not retaliate.c. have no impact on the country's current account balance unless other governmentsretaliate.d. increase the volume of a country's trade with other countries.13. The U.S. typically has a balance of trade surplus in its trade with ____.a. Chinab. Japanc. A and Bd. none of the above14. The North American Free Trade Agreement (NAFTA) increased restrictions on:a. trade between Canada and Mexico.b. trade between Canada and the U.S.c. direct foreign investment in Mexico by U.S. firms.d. none of the above.15. According to the text, international trade (exports plus imports combined) as a percentage of GDP is:a. higher in the U.S. than in European countries.b. lower in the U.S. than in European countries.c. higher in the U.S. than in about half the European countries, and lower in the U.S. than theothers.d. about the same in the U.S. as in European countries.16. The direct foreign investment positions by U.S. firms have generally ____ over time. Restrictions bygovernments on direct foreign investment have generally ___ over time.a. increased; increasedb. increased; decreasedc. decreased; decreasedd. decreased; increased17. Which of the following countries purchases the largest amount of exports by U.S. firms?a. Mexicob. Japanc. Canadad. France18. The primary component of the current account is the:a. balance of trade.b. balance of money market flows.c. balance of capital market flows.d. unilateral transfers.19. As a result of the European Union, restrictions on exports between ____ were reduced or eliminated.a. member countries and the U.S.b. member countriesc. member countries and European non-membersd. none of the above20. Over the last several years, international trade has generally:a. increased for most major countries.b. decreased for most major countries.c. stayed about constant for most major countries.d. increased for about half the major countries and decreased for the others.21. Which is not a concern about the North American Free Trade Agreement (NAFTA)?a. its impact on U.S. inflation.b. its impact on U.S. unemployment.c. lower environmental standards in Mexico.d. different health laws for workers in Mexico.22. A General Agreement on Tariffs and Trade (GATT) accord in 1993 called for:a. increased trade restrictions outside of North America.b. lower trade restrictions around the world.c. uniform environmental standards around the world.d. uniform worker health laws.23. Which of the following is mentioned in the text as a possible means by which the government mayattempt to improve its balance of trade position (increase its exports or reduce its imports).a. It could attempt to reduce its home currency's value.b. The government could require firms to engage in outsourcing.c. The government could require that its local firms pursue outsourcing.d. All of the above are mentioned.24. The demand for U.S. exports tends to increase when:a. economic growth in foreign countries decreases.b. the currencies of foreign countries strengthen against the dollar.c. U.S. inflation rises.d. none of the above.25. "Dumping" is used in the text to represent the:a. exporting of goods that do not meet quality standards.b. sales of junk bonds to foreign countries.c. removal of foreign subsidiaries by the host government.d. exporting of goods at prices below cost.26. ____ is (are) income received by investors on foreign investments in financial assets (securities).a. Portfolio incomeb. Direct foreign incomec. Unilateral transfersd. Factor income27. A weak home currency may not be a perfect solution to correct a balance of trade deficit because:a. it reduces the prices of imports paid by local companies.b. it increases the prices of exports by local companies.c. it prevents international trade transactions from being prearranged.d. foreign companies may reduce the prices of their products to stay competitive.28. Intracompany trade makes up approximately ____ percent of all international trade.a. 50b. 70c. 25d. 13e. 529. Like the International Monetary Fund (IMF), the ____ is composed of a collection of nations asmembers. However, unlike the IMF, it uses the private rather than the government sector to achieve its objectives.a. World Bankb. International Financial Corporation (IFC)c. World Trade Organization (WTO)d. International Development Association (IDA)e. Bank for International Settlements (BIS)30. The World Bank's Multilateral Investment Guarantee Agency (MIGA):a. offers various forms of export insurance.b. offers various forms of import insurance.c. offers various forms of exchange rate risk insurance.d. provides loans to developing countries.e. offers various forms of political risk insurance.31. Also known as the "central banks' central bank," the ____ attempts to facilitate cooperation amongcountries with regard to international transactions and provides assistance to countries experiencing a financial crisis.a. World Bankb. International Financial Corporation (IFC)c. World Trade Organizationd. International Development Association (IDA)e. Bank for International Settlements (BIS)32. Direct foreign investment into the U.S. represents a ____.a. capital inflowb. trade inflowc. capital outflowd. trade outflow33. A balance of trade surplus indicates an excess of imports over exports.a. Trueb. False34. A weakening of the U.S. dollar with respect to the British pound would likely reduce the U.S. exportsto Britain and increase U.S. imports from Britain over time.a. Trueb. False35. The World Bank extends loans only to developed nations, while the International DevelopmentAssociation (IDA) extends loans only to developing nations.a. Trueb. False36. The World Bank frequently enters into cofinancing agreements. Under these agreements, financing isprovided by the World Bank and/or official aid agencies, export credit agencies, or commercial banks.a. Trueb. False37. The balance of payments is a measurement of all transactions between domestic and foreign residentsover a specified period of time.a. Trueb. False38. Changes in country ownership of long-term and short-term assets are measured in the balance ofpayments with the capital account.a. Trueb. False39. Portfolio investment represents transactions involving long-term financial assets (such as stocks andbonds) between countries that do not affect the transfer of control.a. Trueb. False40. The current account represents the investment in fixed assets in foreign countries that can be used toconduct business operations.a. Trueb. False41. Exporting of products by one country to other countries at prices below cost is called elasticity.a. Trueb. False42. Direct foreign investment by U.S.-based MNCs occurs primarily in the Bahamas and Brazil.a. Trueb. False43. The J curve effect is the initial worsening of the U.S. trade balance due to a weakening dollar becauseof established trade relationships that are not easily changed; as the dollar weakens, the dollar value of imports initially rises before the U.S. trade balance is improved.a. Trueb. False44. Portfolio investments represent transactions involving long-term financial assets (such as stocks andbonds) between countries that do not affect the transfer of control.a. Trueb. False45. Intracompany trade represents the exporting of products by one country to other countries below cost.a. Trueb. False46. A tariff is a maximum limit on imports.a. Trueb. False47. A country's net outflow of funds ____ affect its interest rates, and ____ affect its economic conditions.a. does; doesb. does; does notc. does not; does notd. does not; does48. The sale of patent rights by a U.S. firm to a Russian firm reflects a credit to the U.S. balance ofpayments account.a. Trueb. False49. A U.S. purchase of patent rights from a firm in Mexico reflects a credit to the U.S. balance ofpayments account.a. Trueb. False50. Regarding the U.S. balance of payments, capital account items are relatively minor compared to thefinancial account items.a. Trueb. False51. In recent years, the U.S. has had a relatively (compared to other countries) ____ balance of trade ____with China.a. small; surplusb. large; surplusc. small; deficitd. large; deficit52. The Central American Trade Agreement (CAFTA) is intended to raise tariffs and regulations betweenthe U.S., the Dominican Republic, and Central American countries.a. Trueb. False53. U.S. government officials would likely prefer that China devalue the yuan against the dollar.a. Trueb. False54. Assume that some U.S. firms will purchase supplies from either China or from U.S. firms. If theChinese yuan appreciates against the dollar, it should reduce the U.S. balance of trade deficit with China.a. Trueb. False55. Assume the U.S. has a balance of trade surplus with the country of Thor. When individuals in Thormanufacture CDs and DVDs that look almost exactly like the original product produced in the U.S.and other countries, they ____ the U.S. balance of trade surplus with Thor. This activity is called ____.a. reduce; flippingb. reduce; piratingc. increase; piratingd. increase; flipping56. Japan's annual interest rate has been relatively ____ compared to other countries for several years,because the supply of funds in its credit market has been very ____.a. low; smallb. high; smallc. low; larged. high; large57. Without the international capital flows, there would be ____ funding available in the U.S. across allrisk levels, and the cost of funding would be ____ regardless of the firm's risk level.a. more; lowerb. more; higherc. less; lowerd. less; higher58. The primary component of the capital account is the balance of trade.a. Trueb. False59. A balance of trade surplus indicates an excess of merchandise imports over merchandise exports.a. Trueb. False60. An American tourist visiting Germany and spending money there (for lodging, food, etc.) will reducethe U.S. current account deficit and reduce Germany's current account balance.a. Trueb. False61. A balance of trade deficit indicates an excess of imports over exports.a. Trueb. False62. The capital account reflects changes in country ownership of long-term (but not short-term) assets.a. Trueb. False63. Outsourcing allows some MNCs to reduce costs but shifts jobs to other countries.a. Trueb. False64. A weakening of the U.S. dollar with respect to the British pound would likely reduce U.S. exports tothe U.K. and increase U.S. imports from the U.K.a. Trueb. False65. The World Bank extends loans only to developed nations, while the International DevelopmentAssociation (IDA) extends loans only to developing nations.a. Trueb. False66. The ____ is the difference between exports and imports.a. balance of tradeb. balance on goods and servicesc. balance of paymentsd. current accounte. capital account67. Which of the following will probably not result in an increase in a country's current account balance(assuming everything else constant)?a. A decrease in the country's rate of inflationb. A decrease in the country's national income levelc. An increase in government restrictions in the form of tariffs or quotasd. An appreciation of the country's currencye. All of the above will result in an increased current account balance.68. Which of the following factors probably does not directly affect a country's capital account and itscomponents?a. Inflationb. Interest ratesc. Withholding taxes on foreign incomed. Exchange rate movementse. All of the above will directly affect a country's capital account.69. The ____, an accord among 117 nations, called for lower tariffs around the world.a. General Agreement on Tariffs and Trade (GATT)b. North American Free Trade Agreement (NAFTA)c. Single European Act of 1987d. European Union Accorde. None of the above70. Which of the following is not likely to represent a strategy by the government of Country X to reduceits balance of trade deficit with Country Y?a. The government of Country X eliminates environmental restrictions.b. The government of Country X subsidizes firms in its country to facilitate dumping.c. The government of Country X provides tax breaks to firms in specific industries.d. The government of Country X removes a tariff on goods imported from Country Y.71. Which of the following statements is not true?a. Exporters commonly complain that they are being mistreated because the currency of theircountry is too weak.b. Outsourcing affects the balance of trade because it means that a service is purchased inanother country.c. Sometimes, trade policies are used to punish countries for various actions.d. Tariffs imposed by the EU have caused some friction between EU countries thatcommonly import products and other EU countries.e. All of the above are true.72. Which of the following would increase the current account of Country X? Country Y is Country X'ssole trading partner.a. Inflation increases in countries X and Y by comparable amounts.b. Country X's and Country Y's currencies depreciate by the same amount.c. Country X imposes tariffs on imports from Country Y, and Country Y retaliates byimposing an identical tax on X's exports.d. The central banks of Country X and Country Y reduce the money supply to increaseinterest rates.e. Country X imposes a quota on imports, and Country Y retaliates by imposing an identicalquota on X's exports.73. ____ represent aid, grants, and gifts from one country to another.a. Transfer paymentsb. Factor incomec. The balance of traded. The balance of paymentse. The capital account74. Which of the following is not a goal of the International Monetary Fund (IMF)?a. To promote cooperation among countries on international monetary issuesb. To promote stability in exchange ratesc. To enhance a country's long-term economic growth via the extension of structuraladjustment loansd. To promote free tradee. To promote free mobility of capital funds across countries75. According to the "J curve effect," a weakening of the U.S. dollar relative to its trading partners'currencies would result in an initial ____ in the current account balance, followed by a subsequent ____ in the current account balance.a. decrease; increaseb. increase; decreasec. decrease; decreased. increase; increase。

国际财务管理作业3(题目及参考答案)

国际财务管理作业31、远期外汇交易（1）（远期汇率计算）某日英国伦敦的外汇市场报价如下：英镑对美元的即期汇率为：1GBP ＝USD1.5392 / 1.5402，2个月的远期点数21/24；英镑对法国法郎的即期汇率为：1GBP＝FRF7.6590 / 7.6718，2个月的远期点数252/227，试计算：英镑对美元以及英镑对法国法郎两个月的远期汇率分别为多少？解：英镑对美元两个月的远期汇率1GBP＝USD（1.5392+0.0021）/ （1.5402+0.0024）1GBP＝USD1.5413/1.5426英镑对法国法郎两个月的远期汇率1GBP＝FRF(7.6590-0.0252) / (7.6718-0.0227)1GBP＝FRF7.6338/7.6491（2）巴黎外汇市场美元对欧元的即期汇率是1美元=0.8200-0.8240欧元，三个月远期贴水为340-330，我某公司出口一批机床，原报价每台机床30 000欧元。

现法国进口商要求我改用美元向其报价，且三个月后才能收汇。

问我应改报多少美元?解：（1）首先弄清l美元=0.8200-0.8240欧元为直接标价法，直接标价法下升水加贴水减三个月后美元对欧元的汇率：1美元=(0.8200-0.0340)-(0.8240-0.0330)欧元即l美元=0.7860-0.7910欧元（2）其次清楚0.7860为买入价，0.7910为卖出价（3）再有改报多少美元，最初报价30 000欧元，表明最后要得到的是欧元，这样改报的美元数应该能够换回所需要的欧元数，那么卖给银行美元用买入价即改报美元数：30 000／0.7860=38170美元（3）P教材85：第四题解：收：5000÷100×81.21=4060.5万元人民币减少损失为50万元（4）某个澳大利亚进口商从日本进口一批商品，日本厂商要求澳方在3个月内支付10亿日元的货款。

当时外汇市场的行情是：即期汇率：1澳元＝100.00～100.12日元3月期远期汇水数：2.00～1.90故3月期远期汇率为：1 澳元＝98.00～98.22日元如果该澳大利亚进口商在签订进口合同时预测3个月后日元对澳元的即期汇率将会升值到：1澳元＝80.00—80.10日元问题：1）若澳大利亚进口商不采取避免汇率风险的保值措施，现在就支付10亿日元，则需要多少澳元?2)若现在不采取保值措施，而是延迟到3个月后支付10亿日元，则到时需要支付多少澳元?3)若该澳大利亚进口商现在采取套期保值措施，应该如何进行?3个月后他实际支付多少澳元?解：1)该澳大利亚进口商签订进口合同时就支付10亿日元，需要以1澳元＝100.00日元的即期汇率向银行支付10亿/100.00=0.1亿澳元，即10,000,000澳元。

浙大《国际财务管理》在线作业

16. 在国际融资租赁方式下，租金应包括以下各项内容（）
A. 租赁资产的总成本
B. 租赁手续费
C. 融资利息
D. 设备折旧费
满分：2 分
17. 外汇风险的构成因素包括（）
A. 外币
B. 本币
C. 时间
D. 汇率变动
E. 利率变动
满分：2 分
18. 对承租人来说，国际租赁的缺点是()
A. 创建新企业
B. 购买现有企业产权
C. 购买外国公司向当时数量的股票，掌握控制权
D. 设立分支结构
满分：2 分
15. 国际财务管理产生和发展主要取决于()
A. 金融市场国际化
B. 企业生产国际化
C. 企业贸易国际化
D. 企业技术国际化
E. 企业会计国际化
满分：2 分
A. 错误
B. 正确
满分：2 分
6. 出口换汇成本的数值越是高于银行挂牌汇率就越好。
A. 错误
B. 正确
满分：2 分
7. 固定利率债券通常是折价或溢价发行，而浮动利率债券通常是按面值发行。
A. 错误
B. 正确
满分：2 分
8. 在国际融资租赁中，承租人有租赁设备采购的选择权.
单选题
多选题
判断题
、判断题（共 12 道试题，共 24 分。）
1. 无论投资形势如何，均以投资者是否掌握投资项目的管理控制权。作为确定对外直接投资和间接投资的主要分界线。
A. 错误
B. 正确
满分：2 分
2. 直接上市是国家鼓励采用的国际股票融资方式。
A. 错误
A. 受东道国政府限制较少

国际财务管理作业

国际财务管理作业（1）一、题目：请根据以下对外经济活动编制会计分录，同事列入简化的国际收支平衡表1. 我国企业出口价值4000万美元成套设备，收入存入该企业在纽约花旗银行。

2. 侨居美国的华人汇回国100万美元。

3. 我国企业花费100万美元请美国律师代理贸易纠纷案件，由美国的账户支付。

4. 我国居民出境旅游消费450万美元，国外居民来华旅行消费190万美元。

5. 我国企业投资4000万美元（设备、原材料）与美方合作在美国设立分厂。

6. 我国政府援助价值1000万美元药品给非洲某国抗击流行病。

7. 基金公司透过QDII购买4000万美元苹果在纽约交易的股票，由美国中行支付。

8. 我国企业通过购汇方式支付某笔债券到期利息500万美元。

9. 某科技企业在纳斯达克上市成功融资9000万美元，并将此融资额兑成本币。

10. 我国某私募基金透过其在美国的银行账户上购买3000万美元纽约市场股票。

简表如下：账户一、经常账户差额贷方借方商品贸易旅游咨询服务初次收入二次收入二、资本与金融账户直接投资证券投资其他投资官方储备二、要求1. 上交时间为下次上课之前。

只需交第二页。

2. 独立完成每项交易的会计分录以及填制收支平衡表。

1国际财务管理作业（1）姓名：班级：分录：账户一、经常账户差额贷方借方商品贸易旅游咨询服务初次收入二次收入二、资本与金融账户直接投资证券投资其他投资官方储备2。

国际财务管理作业Chapter 1 - Test Bank (注释版)

Chapter 1—Multinational Financial Management: An Overview1. The commonly accepted goal of the MNC (跨国公司) is to:a. maximize short-term earnings.b. maximize shareholder wealth (股东财富).c. minimize risk.d. A and C.e. maximize international sales.ANS: B PTS: 12. With regard to corporate goals, an MNC (跨国公司) is mostly concerned with maximizing ____, and apurely domestic firm (纯粹的国内企业) is mostly concerned with maximizing ____.a. shareholder wealth (股东财富); short-term earningsb. shareholder wealth (股东财富); shareholder wealth (股东财富)c. short-term earnings; sales volumed. short-term earnings; shareholder wealth (股东财富)ANS: B PTS: 13. For the MNC (跨国公司), agency costs (代理成本) are typically:a. non-existent.b. larger than agency costs (代理成本) of a small purely domestic firm (纯粹的国内企业).c. smaller than agency costs (代理成本) of a small purely domestic firm (纯粹的国内企业).d. the same as agency costs (代理成本) of a small purely domestic firm (纯粹的国内企业).ANS: B PTS: 14. Which of the following (下列哪个) could reduce agency problems (代理问题) for an MNC (跨国公司)?a. stock options as managerial compensation.b. hostile takeover (收购) threat.c. investor monitoring.d. all of the above (上述全部) are forms of corporate control that could reduce agencyproblems (代理问题) for an MNC (跨国公司).ANS: D PTS: 15. The valuation (评价) of an MNC (跨国公司) should rise when an event causes the expected cashflows (预期的现金流) from foreign to ____ and when foreign currencies denominating these cashflows are expected to ____.a. decrease; appreciateb. increase; appreciatec. decrease; depreciated. increase; depreciateANS: B PTS: 16. Which of the following (下列哪个) theories identifies specialization (专业化) as a reason forinternational business (国际商务)?a. Theory of Comparative Advantage (比较优势理论) (比较优势).b. Imperfect markets (不完全的市场) theory.c. product cycle (产品周期) theory.d. none of the aboveANS: A PTS: 17. Which of the following (下列哪个) theories identifies the non-transferability of resources (资源的不可转移性) as a reason for international business (国际商务)?a. Theory of Comparative Advantage (比较优势理论) (比较优势).b. Imperfect markets (不完全的市场) theory.c. product cycle (产品周期) theory.d. none of the aboveANS: B PTS: 18. Which of the following (下列哪个) theories suggests that firms seek to penetrate new markets (进入新的市场) over time?a. Theory of Comparative Advantage (比较优势理论) (比较优势).b. Imperfect markets (不完全的市场) theory.c. product cycle (产品周期) theory.d. none of the aboveANS: C PTS: 19. Which of the following (下列哪个) industries would most likely take advantage of lower costs insome less developed foreign countries?a. assembly line production.b. specialized professional services.c. nuclear missile planning.d. planning for more sophisticated computer technology.ANS: A PTS: 110. Due to the risks involved in international business (国际商务), firms should:a. only consider international business (国际商务) in major countries.b. maintain international business (国际商务) to no more than 20% of total business.c. maintain international business (国际商务) to no more than 35% of total business.d. none of the aboveANS: D PTS: 111. A product cycle (产品周期) is the process by which a firm provides a specialized sales or servicestrategy, support assistance, and possibly an initial investment in the franchise in exchange for periodic fees.a. Trueb. FalseANS: F PTS: 112. Licensing (许可) is the process by which a firm provides its technology (copyrights, patents,trademarks, or trade names) in exchange for fees or some other specified benefits.a. Trueb. FalseANS: T PTS: 113. The agency costs (代理成本) of an MNC (跨国公司) are likely to be lower if it:a. scatters its subsidiaries across many foreign countries.b. increases its volume of international business (国际商务).c. uses a centralized management style.d. A and B.ANS: C PTS: 114. An MNC (跨国公司) may be more exposed to agency problems (代理问题) if most of its shares areheld by:a. a few mutual funds (共同基金)b. a widely dispersed set of individual investorsc. a few pension funds (养老基金)d. all of the above (上述全部) would prevent agency problems (代理问题)ANS: B PTS: 115. The Sarbanes-Oxley Act improves corporate governance (公司治理) of MNCs (跨国公司) because it:a. makes executives more accountable for verifying financial statementsb. eliminates stock options as a form of compensationc. ties executive compensation to firm performanced. places a limit on the amount of funds that managers can spendANS: A PTS: 116. MNCs (跨国公司) can improve their internal control (内部控制) process by all of the following,except (除了):a. establishing a centralized data base of informationb. ensuring that all data are reported consistently among subsidiariesc. ensuring that the MNC (跨国公司) always borrows from countries where interest rates arelowestd. using a system that checks internal data for unusual discrepanciesANS: C PTS: 117. Franchising (特许经营) is the process by which national governments sell state owned operations tocorporations and other investors.a. Trueb. FalseANS: F PTS: 118. The parent of MNC (跨国公司) can implement compensation plans (补偿计划) that directly rewardthe subsidiary (子公司) managers for enhancing the value (价值) of the MNC (跨国公司).a. Trueb. FalseANS: T PTS: 119. If a publicly-traded MNC (跨国公司)'s managers make poor decisions that reduce its value (价值), itmay encourage other firms to acquire it.a. Trueb. FalseANS: T PTS: 120. Institutional investors such as mutual funds (共同基金) or pension funds (养老基金) which have largeholdings (控股) of an MNC (跨国公司)'s stock do not normally want to take control of it and therefore have no influence over management of the MNC (跨国公司).a. Trueb. FalseANS: F PTS: 121. In comparing exporting (出口) to direct foreign investment (国外直接投资) (DFI), an exporting (出口)operation will likely incur ____ fixed production costs (固定生产成本) and ____ transportation costs (运输成本) than DFI.a. higher; higherb. higher; lowerc. lower; lowerd. lower; higherANS: D PTS: 122. Which of the following (下列哪个) is an example of direct foreign investment (国外直接投资)?a. exporting (出口) to a country.b. establishing Licensing (许可) arrangements in a country.c. purchasing existing companies in a country.d. investing directly (without brokers) in foreign stocks.ANS: C PTS: 123. According to the text (教科书), a disadvantage of Licensing (许可) is that:a. it prevents a firm from importing (进口).b. it is difficult to ensure quality control of the production process.c. it prevents a firm from exporting (出口).d. none of the aboveANS: B PTS: 124. ____ are most commonly classified as a direct foreign investment (国外直接投资).a. Foreign acquisitions (国外并购)b. Purchases of international stocksc. Licensing (许可) agreementsd. Exporting (出口) transactionsANS: A PTS: 125. Imperfect markets (不完全的市场) represent conditions under which factors of production (生产要素)are immobile.a. Trueb. FalseANS: T PTS: 126. The Sarbanes-Oxley Act (SOX) was enacted in 2002 required MNCs (跨国公司) and other firms toimplement an internal reporting process that could be easily monitored by executives and the board of directors.a. Trueb. FalseANS: T PTS: 127. If markets were perfect, then labor and other costs of production would be perfectly stable (nomovement across borders).a. Trueb. FalseANS: F PTS: 128. The valuation (评价) of an MNC (跨国公司) is reduced if the required return on its investments inforeign countries is reduced.a. Trueb. FalseANS: F PTS: 129. Which of the following (下列哪个) is not mentioned in the text (教科书) as an additional riskresulting from international business (国际商务)?a. exchange rate fluctuations.b. political risk (政治风险).c. interest rate risk.d. exposure (曝险) to foreign economies.ANS: C PTS: 130. Licensing (许可) obligates a firm to provide ____, while Franchising (特许经营) obligates a firm toprovide ____.a. a specialized sales or service strategy; its technologyb. its technology; a specialized sales or service strategyc. its technology; its technologyd. a specialized sales or service strategy; a specialized sales or service strategye. its technology; an initial investmentANS: B PTS: 131. Which of the following (下列哪个) is not a way in which agency problems (代理问题) can be reducedthrough corporate control?a. executive compensation.b. threat of hostile takeover (收购).c. acquisition of a foreign subsidiary (子公司).d. monitoring by large shareholders.ANS: C PTS: 132. The goal of a multinational corporation (MNC (跨国公司)) is the maximization of shareholder wealth(股东财富).a. Trueb. FalseANS: T PTS: 133. A centralized management style, where major decisions about a foreign subsidiary (子公司) are madeby the parent company, results in an increase in agency costs (代理成本).a. Trueb. FalseANS: F PTS: 134. If a U.S. firm sets up a plant in Mexico to benefit from (受益于) low cost labor, it will likely have acomparative advantage (比较优势) over other firms in Mexico that sell the same product.a. Trueb. FalseANS: F PTS: 135. Although MNCs (跨国公司) may need to convert currencies occasionally, they do not face anyexchange rate risk (汇率风险), as exchange rates are stable over time.a. Trueb. FalseANS: F PTS: 136. One of the most prevalent factors conflicting with the realization of the goal of an MNC (跨国公司) isthe existence of agency problems (代理问题).a. Trueb. FalseANS: T PTS: 137. A centralized management style for an MNC (跨国公司) results in relatively (相对) high agency costs(代理成本).a. Trueb. FalseANS: F PTS: 138. The Imperfect markets (不完全的市场) theory states that factors of production (生产要素) aresomewhat immobile, allowing firms to capitalize on a foreign country's resources.a. Trueb. FalseANS: T PTS: 139. If a U.S.-based MNC (跨国公司) focused completely on importing (进口), then its valuation (评价)would likely be adversely affected (受到不利影响) if most currencies were expected to appreciate against the dollar over time.a. Trueb. FalseANS: T PTS: 140. The acquisition of a foreign subsidiary (子公司) is commonly considered by MNCs (跨国公司)because the cost is less expensive than establishing a new subsidiary (子公司) of the same size.a. Trueb. FalseANS: F PTS: 141. If a U.S.-based MNC (跨国公司) focused completely on exporting (出口), then its valuation (评价)would likely be adversely affected (受到不利影响) if most currencies were expected to appreciate against the dollar over time.a. Trueb. FalseANS: F PTS: 142. If markets were perfect, then labor and other costs of production would be easily transferable.a. Trueb. FalseANS: T PTS: 143. International trade (国际贸易):a. is a relatively (相对) conservative approach to foreign market penetration (市场渗透).b. entails minimal risk.c. does not require large amount of investment.d. all of the above (上述全部).ANS: D PTS: 144. Assume that (假设) an American firm wants to engage in international business (国际商务) withoutmajor investment (重大投资) in the foreign country. Which method is least (最不)appropriate in this situation?a. International trade (国际贸易)b. Licensing (许可)c. Franchising (特许经营)d. Direct foreign investment (国外直接投资)ANS: D PTS: 145. The valuation (评价) of MNC (跨国公司) accounts for all the cash flows received by the foreignsubsidiaries plus all the cash flows remitted by the subsidiaries.a. Trueb. FalseANS: F PTS: 146. The MNC (跨国公司)'s value (价值) depends on all of the following, except (除了):a. MNC (跨国公司)'s required rate of return (必要回报率)b. Amount of MNC (跨国公司)'s cash flows in particular currencyc. The exchange rate at which cash flows are converted to dollarsd. The value (价值) of MNC (跨国公司) depends on all of the above (上述全部) factorsANS: D PTS: 147. Which of the following (下列哪个) is not an example of political risk (政治风险)?a. Government may impose taxes on subsidiary (子公司)b. Government may impose barriers on subsidiary (子公司)c. Consumers may boycott the MNC (跨国公司)d. Consumers' income levels will decrease, thus decreasing consumption.ANS: D PTS: 148. A microeconomic perspective focuses on external forces such as economic conditions that can affectthe value (价值) of an MNC (跨国公司).a. Trueb. FalseANS: F PTS: 149. Assume that (假设) an MNC (跨国公司) has a subsidiary (子公司) in Italy, which exports its productsto various countries in Europe. Since all of the countries where it exports use Euro as their currency, this MNC (跨国公司) is not subject to the exchange rate risk (汇率风险).a. Trueb. FalseANS: F PTS: 150. International trade (国际贸易) generally results in ____ exposure (曝险) to international political risk(政治风险) and ____ exposure (曝险) to international economic conditions, when compared to other methods of international business (国际商务).a. higher; lowerb. higher; higherc. lower; higherd. lower; lowerANS: D PTS: 151. Assume that (假设) Boca Co. wants to expand its business to Japan, and wants complete control overthe operations in Japan. Which method of international business (国际商务) is most appropriate for Boca Co?a. Joint ventureb. Licensing (许可)c. Partial acquisition of existing Japanese firmd. Establishment (建立) of Japanese subsidiary (子公司)ANS: B PTS: 152. A decentralized management style of MNC (跨国公司) results in relatively (相对) high agency costs(代理成本).a. Trueb. FalseANS: T PTS: 153. The Establishment (建立) of a new subsidiary (子公司) is commonly considered by MNCs (跨国公司)because the cost is less expensive than acquiring a foreign subsidiary (子公司) of the same size.a. Trueb. FalseANS: T PTS: 154. Assume that (假设) Live Co. has expected cash flows (预期的现金流) of $200,000 from domesticoperations, SF200,000 from Swiss operations, and 150,000 euros from Italian operations at the end of the year. The Swiss franc's value (价值) and euro's value (价值) are expected to be $.83 and $1.29 respectively, at the end this year. What are the expected dollar cash flows of Live Co?a. $200,000b. $559,500c. $582,500d. $393,500ANS: B PTS: 155. Saller Co. has a subsidiary (子公司) in Mexico. The expected cash flows (预期的现金流) in pesos tobe received in the future from this subsidiary (子公司) have not changed since last month, but thevaluation (评价) of Saller Co. has declined since last month. What could've caused this decline invalue (价值)?a. A weaker Mexican economyb. Lower Mexican interest ratesc. Depreciation of the Mexican pesod. Appreciation of the Mexican peso.ANS: C PTS: 156. Jensen Co. wants to establish a new subsidiary (子公司) in Mexico that will sell computers to Mexicancustomers and remit earnings back to the U.S. parent. The value (价值) of this project will befavorably affected if the value (价值) of the peso ____ while it establishes the new subsidiary (子公司) and ____ when the subsidiary (子公司) starts operations.a. depreciates; appreciatesb. appreciates; appreciatesc. appreciates; depreciatesd. depreciates; depreciatesANS: A PTS: 157. A macroeconomic perspective focuses on the financial management decisions that affect the value (价值) of MNC (跨国公司).a. Trueb. FalseANS: F PTS: 158. An MNC (跨国公司) will always use the same required rate of return (必要回报率) in the valuation(评价) of foreign projects, as it would for its domestic projects.a. Trueb. FalseANS: F PTS: 159. Livingston Co. has a subsidiary (子公司) in Korea. The subsidiary (子公司) reinvests half of its netcash flows into operations and remits half to the parent. Livingston's expected cash flows (预期的现金流) from domestic business are $100,000 and the Korean subsidiary (子公司) is expected to generate 100 million Korean won at the end of the year. The expected value (价值) of won is $.0012. What are the expected dollar cash flows of Livingston Co.?a. $100,000b. $200,000c. $160,000d. $60,000ANS: C PTS: 160. A U.S.-based MNC (跨国公司) has many foreign subsidiaries in Europe and does not expect toincrease its investment there. Its value (价值) should increase if the value (价值) of the euro weakens over time.a. Trueb. FalseANS: F PTS: 161. If managers of foreign subsidiaries make decisions that maximize the value (价值)s of their respectivesubsidiaries, they automatically maximize the value (价值) of the entire corporation.a. Trueb. FalseANS: F PTS: 162. A decentralized management style, where subsidiary (子公司) managers make the relevant decisionsregarding their subsidiary (子公司), may result in better decision making, as subsidiary (子公司) managers are generally better informed about their subsidiary (子公司)'s operations.a. Trueb. FalseANS: T PTS: 163. U.S.-based MNCs (跨国公司) are typically not monitored by mutual funds (共同基金) and pensionfunds (养老基金), as these institutions (机构) rarely hold stock in MNCs (跨国公司).a. Trueb. FalseANS: F PTS: 164. The Sarbanes-Oxley Act ensures a more transparent process for managers to report on the productivityand financial condition of their firm.a. Trueb. FalseANS: T PTS: 165. The Theory of Comparative Advantage (比较优势理论) (比较优势) begins by assuming that a givenfirm first becomes established in its home country and may subsequently penetrate foreign markets via geographic or product differentiation.a. Trueb. FalseANS: F PTS: 166. Under the Imperfect markets (不完全的市场) Theory, it is assumed that factors of production (生产要素) are entirely mobile, so that firms can capitalize on a foreign country's resources.a. Trueb. FalseANS: F PTS: 167. Under the Product cycle (产品周期) Theory, foreign demand can be initially satisfied by exporting (出口).a. Trueb. FalseANS: T PTS: 168. Licensing (许可) allows firms to use their technology in foreign markets without a major investment(重大投资) in foreign countries.a. Trueb. FalseANS: T PTS: 169. International trade (国际贸易) is the most common form of direct foreign investment (国外直接投资)(DFI).a. Trueb. FalseANS: F PTS: 170. When the parent's home currency (本国货币) is weak, remitted funds from foreign subsidiaries willconvert to a smaller amount of the home currency (本国货币).a. Trueb. FalseANS: F PTS: 171. A purely domestic firm (纯粹的国内企业) may be affected by exchange rate fluctuations if it faces atleast (最不)some foreign competition.a. Trueb. FalseANS: T PTS: 172. One form of an exposure (曝险) to political risk (政治风险) is terrorism (恐怖主义).a. Trueb. FalseANS: T PTS: 173. The goal of a multinational corporation (MNC (跨国公司)) isa. The minimization of taxes remitted from foreign subsidiaries.b. The Establishment (建立) of subsidiaries in any country where operations would provide areturn over and above the cost of capital, even if better projects are available domestically.c. The maximization of shareholder wealth (股东财富).d. The maximization of social benefits resulting from actions such as the employment offoreign managers.ANS: C PTS: 174. Agency costs (代理成本) faced by multinational corporations (MNCs (跨国公司)) may be larger thanthose faced by purely domestic firm (纯粹的国内企业)s becausea. Monitoring of managers located in foreign countries is more difficult.b. Foreign subsidiary (子公司) managers raised in different cultures may not follow uniformgoals.c. MNCs (跨国公司) are relatively (相对) large.d. All of the above (上述全部)e. A and B onlyANS: D PTS: 175. Which of the following (下列哪个) is not one of the more common methods used by MNCs (跨国公司) to improve their internal control (内部控制) process?a. Establishing a centralized database of informationb. Ensuring that all data are reported consistently among subsidiariesc. Speeding the process by which all departments and all subsidiaries have access to the datathat they needd. Making executives more accountable for financial statements by personally verifying theiraccuracye. All of the above (上述全部) are common methods used by MNCs (跨国公司) to improvetheir internal control (内部控制) process.ANS: E PTS: 176. Which of the following (下列哪个) is not mentioned in the text (教科书) as a theory of internationalbusiness (国际商务)?a. Theory of Comparative Advantage (比较优势理论)b. Imperfect markets (不完全的市场) Theoryc. Product cycle (产品周期) Theoryd. Globalization of Business Theorye. All of the above (上述全部) are mentioned in the text (教科书) as theories of internationalbusiness (国际商务)ANS: D PTS: 177. The most risky method(s) by which firms conduct international business (国际商务) is (are):a. Franchising (特许经营).b. The acquisitions of existing operations (现有业务的收购).c. The Establishment (建立) of new subsidiaries.d. All of the above (上述全部)e. B and C onlyANS: E PTS: 178. The least (最不)risky method by which firms conduct international business (国际商务) is:a. Franchising (特许经营).b. The acquisitions of existing operations (现有业务的收购).c. International trade (国际贸易).d. The Establishment (建立) of new subsidiaries.e. Licensing (许可)ANS: C PTS: 179. Which of the following (下列哪个) does not constitute (构成) a form of direct foreign investment (国外直接投资)?a. Franchising (特许经营)b. International trade (国际贸易)c. Joint ventures (合资企业)d. Acquisitions of existing operationse. Establishment (建立) of new foreign subsidiariesANS: B PTS: 1。

国际财务管理作业

国际财务管理作业1、你对国际财务管理的认识？国际财务管理就是在国际经济条件下，以跨国公司营运资金管理，筹资活动，投资活动等资金活动为主线，揭示其财务活动规律的一门应用学科。

国际财务管理的内容主要包括：外汇风险管理，国际企业营运资金管理，国外投资分析管理，国外经营资金筹集管理和国际税收管理等方面。

从20世纪80年代，由于美元大幅度贬值，国际游资十分充裕再加上利率水平底，国际过剩资本纷纷寻找出路，更使得国际财务管理成为热门话题。

由于世界各国经济活动的国际化，国际大垄断企业的出现和发展、各国之间产品与技术的交换、对外投资等活动，必然产生国际之间的资金运动，即国际财务管理。

国际经济联系越发展，国际财务管理就越重要。

在西方国家，一般认为财务管理已成为国际企业提高获利能力的关键因素。

我国也开始涉足该领域，其中一种观点认为，国际财务管理主要研究跨国公司在组织财务管理，处理财务关系时所遇到的特殊问题，国际财务管理就是跨国公司财务管理。

还有观点认为国际财务管理主要研究能在世界范围内普遍使用的原理和方法，使世界各国的财务管理逐渐走向统一，国际财务管理就是世界财务管理。

随着经济全球化的发展，国际财务管理就是世界财务管理的观点越来越被广泛接受。

国际财务管理是重要的，主要因为跨国企业的生产经营活动最终都要反映到财务成果上来。

国际财务管理是一项需要全盘考虑,统一目标,协调一致的工作。

以国际财务管理为中心要求实现观念的转变,把价值管理的观念落实到企业管理的每一个人、每个过程和每个环节。

国际财务管理的各项价值指标是跨国企业经营决策的重要依据。

搞好国际财务管理对于改善企业经营管理、提高经济效益具有重要的作用。

人们之所以对国际财务管理的研究越来越关注，也是出于以下原因：一、跨国公司成为促进贸易和进行国外直接投资的重要力量。

20世纪90年代后，跨国公司已不再是发达国家的专利，发展中国家的企业也向着国际化方向发展，进入21世纪，中国企业也大步向国际领域迈进。

《国际财务管理》作业

《国际财务管理》第一次作业1.法国某跨国公司预计在6月份（3个月后）有一笔150万的欧元应付账款，同月该公司有一笔美元收入，可以用于支付此笔应付账款。

已知欧元的即期汇率为$1.0450/€，3个月远期汇率$1.0650/€。

公司担心欧元相对于美元的价值将继续上升，决定使用期货交易锁定美元成本。

请回答：（1）该公司应该购买还是出售3个月欧元期货合约？为什么？（2）该公司需要购买或者出售多少份欧元期货合约?（3）该公司6月份应该如何操作？（假定当时欧元的即期汇率是$1.0900/€，期货价格为$1.0950/€）（4）与不进行期货交易保值相比，公司可降低多少美元成本？2.金龙进出口贸易公司于2006年11月15日发运了一批出口货物，合同金额100万美元。

收汇时间为1个月后。

为防范人民币汇率升值造成的汇率损失，公司决定通过远期市场进行保值。

假设：11月15日人民币1个月远期汇率为￥7.8436/$。

2007年1月14日，实际汇率￥7.8113/$。

要求：通过准确数据说明公司决策是否正确。

3.某日，纽约市场1美元＝1.2130－45欧元，法兰克福市场1英镑＝1.5141－53欧元，伦敦市场1英镑＝1.3300－20美元。

套汇者拟用200万英镑进行间接套汇。

要求：分析该套汇者是否能通过套汇获得收益？如何进行套汇？如果进行套汇，计算其套汇收益（或损失）。

4.以下是2017年8月×日人民币外汇牌价（人民币/100外币）：计算600欧元可以兑换多少人民币？100人民币可以兑换多少日元？100美元可以兑换多少英镑？10加元可以兑换多少澳元？200瑞士法郎可以兑换多少欧元？500港元可以兑换多少美元？5.某日，纽约市场1美元＝1.2130－45欧元，法兰克福市场1英镑＝1.5141－53欧元，伦敦市场1英镑＝1.3300－20美元。

套汇者拟用200万英镑进行间接套汇。

要求：分析该套汇者是否能通过套汇获得收益？如何进行套汇？如果进行套汇，计算其套汇收益（或损失）。

浙江大学远程教育《国际财务管理作业》1

1.国际企业在全球范围内对公司内部的收付款项进行综合调度，抵消部分收付款额度，而只将抵消后的净额进行结算的方法称为（）。

A 抵消结算B 净额结算C 内部结算D 统筹结算正确答案:B2.国际企业国外子公司向母公司转移资金的最重要方式是（）。

A 按属地原则确立的税收管辖权B 居住管辖权 C地域管辖权D 收入来源管辖权正确答案:B5.可口可乐公司采用在其他国家设立制造厂而非特许经营的模式，从国际直接投资角度来看，属于国际直接投资的（）动机。

A 避开贸易壁垒B 保护无形资产C 利用国外生产要素D 实现纵向一体化正确答案:B6.关于国际商业银行贷款的表述不正确的是（）。

A 不需要专款专用B 贷款金额大C 贷款成本较低D 贷款手续简便正确答案:C7.国际转移价格的强化管理功能是指（）。

A 在世界范围内调配公司资源，实现优化配置B 将尽可能多的利润转移到税率较低的国家，降低税负C对子公司实行业绩评价和管理控制，体现分权管理式管理8.关于融资性租赁与经营性租赁异同点的表述，正确的是（）。

国际财务管理作业及答案

1.若美元对人民币的即期汇率为￥7.9/$，6个月的远期汇率为￥7.8/$，已知中国6个月存款利率为2.9%，美元6个月存款利率为4.2%。

如果投资者有一笔美元（假定100万美元），你认为应该到哪投资？为什么？答：我认为应该投资中国。

如果100万美元直接存在美国银行中：6个月到期值＝$100×（1＋4.2%×6/12）＝$102.1（万元）如果100万美元按即期汇率换成人民币，存入中国银行，按远期汇率将人民币到期值换成美元：6个月到期值＝$100×7.9×（1＋2.9%×6/12）÷7.8＝$102.75（万元）$102.75－102.1＝$0.65（万元）在中国投资比在美国投资增加收入$6500。

2.论述交易风险管理的范围和策略，并选择某一方法展开论述。

3.国内某企业按9%的利率取得一笔期限为1年的100万港币。

企业收到该比款项后将其兑换为人民币并向供应商支付货款，此时汇率为￥1.02/HK$，一年后偿还时汇率为￥0.96/HK$，该企业所负担的所得税税率为40%。

要求：（1）计算港元的汇率变动率；（2）分别计算该企业考虑和不考虑所得税下的借款实际融资成本。

解：（1）汇率变动率＝（0.96－1.02）/1.02＝-5.88％（2）不考虑所得税，实际融资成本＝（1＋9％）×（1－5.88％）－1＝2.59％考虑所得税，实际融资成本=[（1＋9％）×（1－5.88％）－1]×（1－40％）=1.55％4.为什么国际直接投资决策时大多数公司以母公司为评价主体？答：（1）流向母公司现金流量受到税收差异、外汇管制、收费过量和汇率变动等的影响，与子公司现金流量不同。

税收差异——子公司所取得的收益要汇回母公司，而母公司与子公司面临的税率可能存在差异。

当母公司所在国对汇回的收益课以高税，子公司的可行项目在母公司看来该是不可行的。

《国际财务管理》在线作业答案

A 国际保理业务 B 保付代理 C 福费廷业务 D 卖方信贷正确答案:C 单选题
5.每种货币在本国都有购买商品和劳务的能力，不同货币购买力的比率构成了相互间汇率的基础。这是（）。
A 购买力平价理论 B 国际费雪效应理论 C 利率平价理论 D 无偏估计理论
正确答案:A 单选题
6.只有（）的变化才会对经营风险产生影响，即影响营业现金流。
28.国内企业股票不直接在境外上市，而是通过已在境外证券交易所上市或能够比较容易取得境外证券交易所上市资格的公司来达到间接上市、获取国际资本市场资金目的的融资方式称为（）。
10.国际转移定价的基本方法不包括（）。
A 以市场为基础的定价 B 以成本为基础的定价 C 交易自主的定价 D 双重定价正确答案:D
单选题
11.关于货币升值与贬值的说法正确的是：
A 本币升值有利于本国商品出口 B 本币贬值有利于本国商有助于消除资本账户的逆差正确答案:B 单选题
3.由东道国对跨国公司在当地业务的政策的不确定性引起的政治风险称为（）。
A 制度风险 B 转移风险 C 经营风险 D 控制风险正确答案:D 单选题
4.出口方把经进口方承兑和进口方银行担保的期限在6个月-10年的远期汇票或本票，在无追索权的基础上出售给出口地银行或金融公司，从而提前获得现金的融资方式为（）
单选题
1.国际企业在合并财务报表过程中由于不同货币计价所产生的企业报表反映价值改变的风险称为（）。
A 经济风险 B 交易风险 C 折算风险 D 金融风险正确答案:C 单选题
2.根据无偏估计理论，如果外汇市场是有效的，则远期汇率应该是（）的一个无偏估计。
A 现时即期汇率 B 未来即期汇率 C 远期折现汇率 D 远期合同汇率正确答案:B 单选题

国际财务管理在线作业

.【第1章】国际企业财务管理在确定采取集权模式还是分权模式时，应当考虑的因素不包括（）。

A 董事会决策B 代理成本与企业适应性的平衡C 企业的组织结构D 文化传统正确答案:A单选题2.【第1章】以下关于许可经营与特许经营的说法，正确的是（）。

A 特许经营是许可经营的特殊方式B 许可经营的许可方会向被许可方提供全套专业化企业经营手段C 许可经营的被许可方必须同意遵守严格的规则和程序D 许可经营是特许经营的特殊方式正确答案:A单选题3.【第1章】某国际企业以保持稳健的财务状况为经营目的，该企业的企业目标最有可能为（）。

A 股东价值B 持续发展C 客户利益D 雇员利益正确答案:D多选题4.【第1章】企业国际化进程与全球政治经济密切相关，以下属于推动企业国际化的新动力和条件的有（）。

A 研究与开发成本上升B 发挥比较优势C 产品生命周期缩短D 规模经济发展的需要正确答案:ACD判断题5.【第1章】相比于跨国并购，新建境外子公司可以使国际企业在国际市场上迅速形成生产能力。

正确错误正确答案: 错判断题6.【第1章】国际税收管理与国际财务管理不同，不属于国际财务管理的内容。

正确错误正确答案: 错判断题7.【第1章】中等规模的国际企业更倾向于采用集权模式财务管理。

正确错误正确答案: 对判断题8.【第1章】许可经营中，被许可方将会受到许可方的严格控制。

正确错误正确答案: 错判断题9.【第1章】国际财务管理与国内财务管理在性质上是相同的，国际财务管理是国内财务管理在全球范围内的简单扩展和延伸。

正确错误正确答案: 错判断题10.【第1章】国际企业利润管理的核心是利润分配和业绩的考评。

正确错误正确答案: 对单选题11.【第2章】贸易顺差是指（）。

A 某企业货物和服务的出口额大于进口额B 某企业货物和服务的进口额大于出口额C 某企业货物和服务的出口额为零D 某企业货物和服务的进口额为零正确答案:A单选题12.【第2章】国际企业的正常运转离不开现有的法律环境，以下关于国际法的表述正确的是（）。

国际财务管理作业

书31页习题4、5、64、美元与日元的汇率是$1=￥200.01，日元与欧元的汇率是Eurol=￥189.12，那么欧元与美元的兑换比率是多少？答：1欧元=0.9455美元。

５、假设在纽约，直接标价法下英镑与美元的汇率是1.1110-5。

那么在纽约500000英镑价值多少美元？在伦敦，直接标价法下的美元汇率是多少？答：500000英镑*1.1110=555500$1/1.1115，1/1/1110＝0.8997,0.9001，是在伦敦直接标价法下的美元汇率。

６、一个投资者想以0.9080美元的价格购买欧元现货，然后以0.9086美元的价格卖出一个180天的欧元掉期。

请问欧元的掉期率是多少？180天欧元的升水是多少？答：掉期率：(0.9086-0.9080/0.9080)*360/180=0.0013，升水：0.9086-0.9080=0.0006。

书69页习题2、3、102、一家英国公司向美国某公司出售引擎并从其购买零件。

假设有一笔15亿美元的应收帐款和一笔7.4亿美元的应付帐款。

他还有6亿美元的借款，现汇汇率是$1.5128/&。

这家英国公司用美元和用英镑表示的美元交易风险各是多少？假设英镑升值到$1.7642/&，这家英国公司用英镑表示的美元交易风险损益是多少？答：用美元表示的风险暴露：15-7.4-6=14.8660亿美元，用英镑表示的风险暴露：14.8660亿/1.5128=9.8268亿英镑。

英镑升值后，用英镑表示的美元交易风险损益=9.8268亿英镑-14.8660亿美元/1.7642=1.4003亿英镑。

3、假设美国贝尔公司的英国分公司在年初和年末的流动资产是100万英镑，固定资产200万英镑，流动负债是100万英镑，它没有长期负债。

在流动/非流动折算法、货币/非货币折算法、时态法和现行汇率法下的英国贝尔分公司的会计风险是多少？答：流动/非流动折算法：流动资产100万英镑+流动负债100万英镑。

《国际财务管理》在线作业1-3作业参考答案及复习题与参考答案

精品文档东财10秋学期《国际财务管理》在线作业一单选题（共20 道试题，共80 分。

）1. 货币市场借款和投资法保护折算风险的缺点是具有很大的( )。

A. 不准确性 B. 不稳定性 C. 成本过高 D. 投机性正确答案：D2. “外汇是以外币表示的用于国际结算的支付手段”是指外汇的( )含义。

A. 动态 B. 静态 C. 综合 D. 基本正确答案：B3. 外汇贷款项目在建设过程中由于施工和投资等方面的问题而产生的风险是( )。

A. 市场风险B. 生产技术风险C. 项目建设风险D. 经营管理风险正确答案：C4. 东道国的税收歧视待遇属于( )的范畴。

A. 外汇风险 B. 政治风险 C. 法令风险 D. 经营风险正确答案：C5. 在实行固定利率的情况下，还本付息的计算一般有( )方法。

A. 二种 B. 三种C. 四种D. 五种正确答案：A6. 关于国际财务管理学与财务管理学的关系表述正确的是( )。

A. 国际财务管理是学习财务管理的基础 B. 国际财务管理与财务管理是两门截然不同的学科 C. 国际财务管理是财务管理的一个新的分支 D. 国际财务管理研究的范围要比财务管理的窄正确答案：C7. ( )是外汇市场的主体。

A. 外汇银行 B. 外汇经纪人 C. 一般顾客 D. 中央银行正确答案：A8. 利率波动风险对所有证券均有影响，尤其是对( )的( )证券影响最大。

A. 短期、固定收益 B. 短期、不固定收益 C. 长期、不固定收益 D. 长期、固定收益正确答案：D9. 利率调换所要满足的条件是( )不同。

A. 币种 B. 计息方式 C. 金额 D. 期限正确答案：B10. 对浮动汇率的预测，通常会有( )基本的理论。

A. 五个 B. 六个 C. 七个 D. 八个正确答案：C11. 在我国现阶段，( )在经营外汇业务方面占主导地位。

A. 人民银行 B. 工商银行 C. 建设银行 D. 中国银行正确答案：D12. 固定汇率与浮动汇率是从( )角度划分的。

国际财务管理作业

国际财务管理作业简答题一、外汇市场包括哪些市场？一家跨国公司主要在哪些方面利用国际金融市场？答: 外汇市场包括期货交易市场和场外市场，其中，场外市场由零售市场和银行间市场组成。

一家跨国公司可以在国际贸易、对外投资、国际贸易融资、对外提供贷款、内部风险管理、国际现金管理、跨国资本预算、全球战略计划等方面利用国际金融市场。

二、影响经常性账户和资本账户的主要因素各有哪些？关税和贸易总协定（GATT）要解决的是什么问题？答：影响经常性帐户的因素有：通货膨胀、国民收入、政府限制、汇率等。

影响资本帐户的因素有：政府的税收政策、政府的资本控制政策、利率、证券投资者对汇率的预期等。

关税和贸易总协定是一项关于关税和贸易准则的多边国际协定。

其主要宗旨是各缔约国在处理其贸易和经济事业的关系方面，通过达成互惠互利协议，大幅度削减关税和其他贸易障碍，取消国际贸易中的歧视待遇，达到保证充分就业，提高生活水平，保证实际收入和有效需求的巨大持续增长，扩大世界资源的充分利用，发展商品生产和交换的目的。

三、影响汇率的因素有哪些？它们是如何影响汇率的？答:影响汇率的因素有：1、相对通货膨胀率。

相对通货膨胀率的变化会影响国际经营活动,影响货币供求,进而影响汇率.。

2、相对利率。

相对利率的变化会影响对外国证券的投资,这会影响货币供求从而影响汇率。

3、相对收入水平。

假定A国收入水平大幅度上升而B国收入水平保持不变，则A国因收入增加了对B国商品的需求。

4、政府管制。

政府可通过多种方法影响均衡汇率，其中包括：（1）施加外汇流动壁垒；（2）施加对外贸易壁垒；（3）干预外汇市场；（4）影响宏观经济因素如通货膨胀、利率和收入水平。

5、预期。

外汇市场会对任何影响未来的信息作出反应。

例如，美国通货膨胀飞涨的传言可能会使货币交易者卖掉美元，因为他们预期美元币值将下跌。

这种反应会对美元立即产生向下贬值的压力。

四、政府干预汇率的原因以及措施有哪些？答：政府干预汇率的原因有：1、稳定汇率波动；2、暗定汇率波动幅度；3、对暂时的汇率动荡作出反应。