金融英语最新五套题及答案

Test 1Part One ListeningSection One (10%)Directions: In this section you will hear 10 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. Now you will hear the example:She went to the bank with Mr. Smith.You will read:A. She went home.B. She liked Mr. smith.C.She went to the bank.D.She went to Mr. Smith's house.Statement C, "She went to the bank" is the closest in meaning to the statement "She went to the bank with Mr. Smith." Therefore, you should choose answer C. Now listen to the statements.1. A. The central bank controls many factors that affect the success of banking supervision.B. The success of banking supervision depends on the controls of the central bank.C. The success of banking supervision relies on many factors that are not under the control of the central bank.D. Many factors under the control of the central bank result in the success of banking supervision.2. A. You cannot sign your name on the upper left corner that does not comply with the agreement.B. Your signature does not agree with the specimen signature on the upper left corner.C. The signature on the upper left corner is not the countersign in theagreement. D. You cannot agree with the signature on the upper left corner.3. A. The Chinese banks will not come to compete with the foreign banks inRenminbi business.B. Foreign banks will be allowed to do Renminbi business which is a challenge to the Chinese banks.C. It will be a real great challenge to the Chinese banks when the foreign banks have the right to do Renminbi business.D. In order to have real competition with the Chinese banks, foreign banks should be allowed to do Renminbi business.4. A. I remitted the money to you after the sale of my stocks.B. Your bank account had been credited with the remittance since I sold my shares last week.C. The money had already been credited to your account last week after I sold my shares.D. The money had not been remitted to you since I failed to sell my stocks last week.5. A. The bank makes profits only from its own money. B. The bank makes profits not only from the deposits but also from its own money. C. The bank makes profits with special obligations to depositors. D. The bank has special obligation to make profits.6. A. We thank you for your doing kindness to us. B. We hope you send us your check as soon as possible.C. We thank you because you provide us convenience in checking.D. You will have to pay us $50,000.7. A. The Chinese economists made a proposal that banks' savings interest rates should further be lowered.B. The Chinese economists thought banks' savings interest rates should be improved.C. The Chinese economists believed that banks' savings interest rates should be maintained.D. The Chinese economists suggested that banks' savings interest rates should be kept.8. A. We are the credit holders. B. We are the bank who can encash the card.C. We are the bank who can stop your lost card.D. We are the bank who can find your lost card.9. A. In the foreign exchange market, exchange rates are quoted by the sellers and buyers. B. In the foreign exchange market, exchange rates are quoted by commercial banks. C. In the foreign exchange market, selling and buying of foreign exchange decide exchange rates. D. In the foreign exchange market, exchange rates are fixed by governments.10. A. The bank has the right to charge you fees if your check has bounced.B. The bank will not charge you any service commission even if your check returned.C. No one reserves the right to impose a service charge for returned cheques.D. The bank has the right to impose a charge for encashed cheques.Section Two (10%)Directions: In this section, you will hear 10 short conversations. At the end of each conversation a question will be asked about what was said. The conversations and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answerNow you will hear :M: Does our bank have a direct correspondent relationship with the Bradalys' Bank?W:No, we don't. So we have to advise this L/C via another bank.Q: Which of the following is right?Now you will read:A. We can advise this L/C to the Bradlays' Bank.B. The Bradlays' Bank is our correspondent.C. The L/C has to be advised by a third bank.D. We should advise this L/C by ourselves.From the conversation we know that we have to advise this L/C via another bank. The best answer is C. Therefore you should choose answer C.11. A. Her account number is 60789410 B. Her account number is 60798410C. Her account number is 60798401D. Her account number is 6078914012. A. in the safe B. in the drawer C. on the desk D. in the box13. A. 1.89% B. 1.98% C. 8.19% D. none14. A. to open an account with the bank B. to exchange moneyC. to check if the remittance has arrivedD. to remit some money to her brother Tony Waller15. A. employee and boss B. broker and bank clerk C. two bank clerks D. bank clerk and customer16. A. 8 hours B. 10 hours C. 12 hours D. 24hours17. A. one month B. twelve months C. six months D. half a month18. A. draw money from her account through ATM. B. write her secret code on the card.C. forget her password.D. ask somebody to pick up her card.19. A. US$ 24,580 B. US$ 28,450 C. US$ 45,280 D. US$ 25,48020. A. Special risks will be excluded. B. You have to pay more money for the inclusion of all risks.C. Exclusion of the special risks means more money you have to pay.D. You have to pay more premium to include a special risk.Section Three (10%)Directions: In this section, you will hear 3 short passages. At the end of each passage you will hear some questions about what was said. The passages and questions wi1l be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answerQuestions 21--23 are based on passage 121. A. three B. four C. five D. six22. A. one-dollar bill B. five-dollar bill C. ten-dollar bill D. twenty-dollar bill23. A. by checks and fund transfers B. by CHAPS and fund transfersC. by CHIPS and fund transfersD. by SWIFT and fund transfersQuestions 24-26 are based on passage 224. A. They will buy houses.B. They will buy cars. C. They will postpone building a new plant. D.They will hire more workers.25. A. because they affect consumers' willingness to spend or save.B. because they affect businesses' investment decisions.C. because interest rates are the cost of borrowings.D. both a and b.26. A. mortgage interest rates B. car loan ratesC. interest rates on many different types of bondsD. current interest ratesQuestions 27-30 are based on Passage 327. A. corporate B. interbank C. mortgage D. syndicate28. A. pay all attentions to a specific area of lending B. consider someone more important than the otherC. handle loan applications based on hard and fast ruleD. try to build up a well-balanced loan portfolio29. A. prudence B. profitability C. liquidity D. safety30. A. to ensure healthy growth for the bank B. to outperform the competition in financial industryC. to make the profitsD. to achieve specific business targetsPart two ReadingSection One (10%)Directions: There are ten statements in this section. For each statement there are four choices marked A，B，C，D. You should choose the best answer.31. If the lessor makes an equity investment equal to 20% of the equipment's original cost, and borrows the remaining 80% from a long-term creditor, and writes a noncancelable lease for the equipment, such lease is called a ___________.A. operating leaseB. leveraged leaseC. direct-financing leaseD. sales-type lease32. The interest rate for borrowing funds from inter-bank market is close to, but always slightly ____________ the rate that is available from the central bank.A. lower thanB. higher thanC. as high asD. not as high as33. ___________ is a financial market in which securities that have been previously issued can be resold.A. A primary marketB. A secondary marketC. A issuing marketD. The capital market34. Of the challenging issues in Internet banking, which people care most,is _________.A. the provision of a secure platform for banking transactionsB. whether management has the creativity and vision to harness the technologyC. how to deliver high-quality products for the customers' convenienceD. whether management has the ability to satisfy customers' continually changing financial needs35. From a Chinese Bank's point of view, the currency account which it maintains abroad is known as _______, while a RMB account operated in China for a foreign bank is termed ________.A. a vostro account; a nostro accountB. a mirror account; a nostro accountC. a nostro account; a vostro accountD. a vostro account; a mirror account36. If __________, such a situation is called break-even.A. contribution margin= fixed costsB. contribution margin=total costsC. profit=expenseD. sales revenue=variable cost37. Foreign-funded enterprises may retain their export earnings if those earnings _______.A. get after SAFE approvesB. will be remitted abroadC. will be invested in local areaD. do not exceed the limit set by the SAFE38. BOT is an abbreviated form of _________.A. build-or-technologyB. build-operate-transferC. build-operate-technologyD. benefit-operate-transfer39. _________ is the foundation of private accounting, which analyzes a business's costs to help managers control expenses.A. BudgetingB. Management information systemC. Internet auditingD. Cost accounting40. Underwriting simply means that the investment banker promises to ________ the securities.A. buyB. sellC. designD. issueSection Two (10%)Directions: There are 10 blanks in the following passages. For each blanks there are four choices marked A, B, C, D. You should choose the best answer.Passage OneAnother way of distinguishing markets is on the basis of the _____41_______of the securities in each market. The __42______ is a financial market in which only short-term debt instruments are traded. The ___43_____ is the market in which longer-term debt and equity instruments are traded. The securities in the former are usually more widely traded than those in the latter and so tend to be ____44______. In addition, short-term securities have _____45______fluctuations in prices than long-term securities, making them safer investments.41. A. volume B. maturity C. issuing procedure D. kind42. A. money market B. capital market C. primary market D. secondary market43. A. money market B. capital market C. primary market D. secondary market44.A. more solvent B. more risk C. more liquid D. safer45. A. volatile B. violent C. wider D. smallerPassage TwoIn documentary credit operations, all parties concerned deal in ___46____ and not in ____47____. The banks check exclusively on the basis of documents ___48____to them to see whether the terms of the credit have been fulfilled. They are ____49_____to verify whether the goods supplied actually agree with those specified in the credit, ____50____differences, say, between the goods invoiced and those actually delivered, nor answerable to the buyers' complaints about these differences. It is up to the buyers and sellers to settle questionables of this nature between themselves.46. A. goods B. credits C. documents D. contracts47. A. goods B. credits C. documents D. contracts48. A. delivered B. presented C. deliver D. release49. A. responsible B. not responsible C. bound D. willing50. A. nor liable for B. or liable for C. nor liable to D. or liable toSection Three (10%)Directions: Read the following passages, and determine whether the sentences are "Right" or "wrong". If there is not enough information to answer " right" or "wrong''. choose "Doesn't say".Passage OneNew issues of common stock come into two varieties, primary distributions and secondary distributions. Primaries are sales of stock that have never been issued before. There are two types of primary distributions--initial public offering (IPOs) and additional floats of companies' stock that will dilute each shareholder's existing holding. Of the two, the latter are more common in the new issues market for equities since they involve offerings of shares of larger, more mature companies seeking additional equity capital. Secondary distributions are sales of stock that previously existed in some form or other but are too large to be accommodated on the stock exchanges. Procedures for secondaries often follow those for primaries although the offering period is much shorter and may involve a matter of hours rather than days.The actual marketing for these issues is done by investment bankers directly to the public. On rare occasions, companies have attempted to sell their shares or bonds directly to the public, avoiding investment banking fees. Unless the company is very well known, such attempts are less than successful. The behavior of investment bankers is key to the reception of new issues and directly affects the cost of capital for a company. As a result, the choice of an investment banker is crucial for a company, and the wrong choice could affect its costs over the near term.51. Initial public offerings (IPOs) are one of the type of primary distributions,while additional floats of companies' stock belong to secondary distributions. A.Right B.Wrong C.Doesn't say52. Compared with additional floats of companies' stock, initial public offering(IPOs) are more common because they involve offerings of shares larger, more mature companies seeking additional equity capital. A.Right B.Wrong C.Doesn't say53.Both primary distributions and secondary distributions are issued in primary markets.A.RightB.WrongC.Doesn't say54. Few companies have attempted to see their shares or bonds directly to the public.A.RightB.WrongC.Doesn't sayPassage TwoThe simplest means of transferring funds abroad is by means of the airmail remittance order. For example, a local customer of the bank wishes to send money to a relative in Japan. The local customer goes to the United States bank and specifies where and to whom the money is to be delivered. He also indicates the amount he wishes to send, for example, USD$100. The bank prepares a letter to its correspondent bank in the town nearest to where the relative lives. In this letter, the United States bank says, "Advise and pay US dollars 100 to ( name and address ) of recipient." The letter says that this is by order of its local customer, giving his name. Then it adds, " In reimbursement, we credit your account with us." This informs the Japanese bank that its account in the United States bank has been credited USD100 (The United states bank credits the Japanese banks due to account).55. MT is the simplest means of transferring funds abroad. A.Right B.Wrong C.Doesn't say56. According to the passage, the local customer of U.S. is a remitter. A.Right B.Wrong C.Doesn't say57.The Japanese bank debits the U.S. bank's due from account. A.Right B.Wrong C.Doesn't sayPassage ThreeTo finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is theTreasury bill, which is commonly issued by the ministry of finance. However. some Treasury bills, like the Treasury bill of the U. S. govern ment, do not actually pay interest. Instead they are issued at a discount from par (their value at maturity). The investor’s yield comes from the increase in the value of the security between the time it was purchased and the time it matures.Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because even if the government ran out of money it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid, A deep market is one with many different buyers and sellers. A liquid market is one in which securities can be bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to.58. Treasury bills are short-term and virtually free of default risk. A.Right B.Wrong C.Doesn't say59. As some treasury bills do not actually pay interest, they are not attractive to investors A.Right B.Wrong C.Doesn't say60.Investors in deep and liquid markets face immense risk that they will not be able to selltheir securities when they want to.A.RightB.WrongC.Doesn't saySection Four (20%)Directions: There are 4 passages in this sections. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C, D. You should choose the best answer.Passage OneSince equal dollar amounts of debits and credits are entered in the accounts for every transaction recorded, the sum of the debits in the ledger must be equal to the sum of all the credits. If the computation of account balances has been accurate, it follows that the total of the accounts with debit balances must be equal to the total of the accounts with credit balances.Before using the account balances to prepare financial statements, it is desirable to prove that the total of accounts with debit balances is in fact equal to the total of accounts with credit balances. This proof of the equality of debit and credit balances is called a trial balances. A trial balance is a two-column schedule listing the names and balances of all the accounts in the order in which they appear in the ledger. The debit balances are listed in the left-hand column and the credit balances in the right-column. The totals of the two columns should agree.The trial balance provides proof that the ledger is in balance. The agreement of the debit and credit totals of the trial balance gives assurance that:1.Equal debits and credits have been recorded for all transactions.2.The debit or credit balance of each account has been correctly computed.3. The addition of the account balances in the trial balance has been correctly performed.Suppose that the debit and credit totals of the trial balance do not agree. This situation indicates that one or more errors have been made. Typical of such errors are (1) the entering of a debit as a credit or vice verse; (2) arithmetical mistakes in balancing accounts; (3) clerical errors in copying account balances into the trial balance; (4) listing a debit balance in the credit column of the trial balance, or vice verse; and (5) errors in addition of the trial balance.The preparation of a trial balance does not prove that transactions have been correctly analyzed and recorded in the proper accounts. If, for example, a receipt of cash were not be disclosed by the trial balance. In brief, the trial balance proves only one respect of the ledger, and that is the equality of debit and credits.61. A trial balance is a two-column schedule listing the names and balances of all the accounts to prove _______________.A. the agreement of the debit and credit totalsB. the order in which they appear in the ledgerC. the equality of account balances of financial statementsD. the order in which they appear in the recording62. Unless __________, the totals of the debit and credit of trial balance should agree.A. the debit or credit balance of each amount has been correctly computedB. debits and credits have been recorded correctly for all transactionsC. unequal debits and credits have been recorded for all transactionsD. the addition of the account balance in the trial balances has been correctly performed63.If ____________, the debit and credit totals of the trial balance do not agree.A. mistakes appear in computing balancing accountsB. a credit is entered as a debitC. a credit balance is listed in the debit columnD. All of the above64. If a payment of cash is recorded by ________, the trial balance would still balance.A. crediting the Account Payable accountB. debiting the cash accountC. debiting the Account Receivable accountD. debiting the land account65. A trial balance is a working paper which is intended ___________.A. for distribution to various outsidersB. to prepare financial statementsC. for distribution to various accountantsD. to prepare ledger accountsPassage TwoInsurance is almost as important to business as banking. It works quite simply by spreading over a large number of people, the costs or the losses which otherwise would fall on the few who actually suffer them.Fire, for instance, normally damages only a few businesses each year but almost all companies buy insurance to protect themselves against it. What happens is that most companies pay regular small amounts of money, called the premium to insurance groups and so a large fund of money builds up. Then the few who have suffered fires claim the cost of the damages. After investigation, the claims are paid out by the insurance companies.For the operation to work, insurance companies have to calculate what is the chance or probability of certain events happening, and what the cost of making accidents good will be, and how many people will pay, what rates, to have protection. Premiums are fixed in proportion to the risk involved.There are four principles backing up every insurance contract. The first, known as indemnity, is that the insured should get back the same value as was lost. If you insure your watch against the risk of its being stolen, then the insurance company will only pay out the cost of a similar, second. hired watch unless you make a special agreement with them.The second principle is that of agreeing that the insurer has to own, or have the insurable interest in, the property covered, both at the time of affecting the insurance and at the time of loss. This is usual for policies covering fire；but the insurance on ships and their cargoes can be transferred to new owners if required.Thirdly it is necessary for the agreement to be concluded in good faith. Generally the company providing insurance cover charges a premium based on what it is told. If a company fails to mention that a warehouse sometimes contains explosives the underwriter may declare the contract not valid and refuse to pay a claim if the warehouse blows up.Finally, insurers distinguish between remote and immediate causes of an event. If there is an earthquake and a house is damaged, catches fire and is flooded by firemen when putting out the flames, the compensation due will depend on the exact words used in the detailed insurance contract. Usually companies do not provide cover against earthquake damage, so the house owner may not get any compensation for the effects of the fire or water, as these were a direct result ofthe earthquake.66. What are the four principles backing up every insurance contract?A. Indenmity, the insurable interest, premium and good faith.B. Indemnity, the cost of the damage, the exact words in the contract and the insurableinterest.C.Indemnity, the insurable interest, good faith and remote and immediate causes of anevent.D. Indemnity, the insurable interest, the cost of the damages and good faith.67. I n Para. 2, the term "premium" means ___________A. the cost of the damageB. a sum of money paid regularly to an insurance companyC. proportion of the risk involvedD. a large fund of money68. Which of the following is NOT true according to the passage?A. Premiums are usually decided in proportion to the risk involved.B. Insurance companies often do not provide cover against earthquake damages.C. Insurance on ships and their cargoes can be transferred to new owners if required.D. Those who buy insurance can claim the cost of damages if they suffer from firescaused by an earthquake.69. Which of the following is implied, but not directly stated in the passage?A. A regular small sum of money will cover your losses.B. Insurance companies usually do not provide cover against earthquake losses.C. An insurance company can build up a large sum of money from those who pay insurance charge.D. You cannot cover the losses you suffer if the results of the investigation by insurance company turn out not to be in your favor.70. The purpose of this passage is ___________ .A. to get you familiar with insurance businessB. to advise you to insure your propertiesC. to tell you how to get compensation from an insurance companyD. to teach you how to sign an insurance contract Passage ThreeOnce the exporter has been advised that a letter of credit has been issued in its favor, many exporters make the mistake of starting to prepare or fulfill the requirements of the foreign customer's purchase order before actually receiving the actual letter of credit from the opening or issuing bank. Unless the exporter has had good or excellent prior experience with the foreign customer and its issuing bank, the exporter runs the risk of having the goods ready for shipment, without receiving the original letter of credit. The exporter runs a risk because it may or may not be able to comply with certain terms and conditions contained in the actual original letter of credit. It is always conceivable new conditions might be added to the credit instrument. Or the goods might be shipped and arrived at the overseas port of destination without any original documents because the original L/C arrives late. Thus, the foreign customer will be unable to clear goods through customs, and the goods will be stored in a customs warehouse to accrue expensive demurrage charges.The answer to the above mentioned problem is to have the opening bank issue the letter of credit via tested telex or SWIFT to the advising or negotiating bank as the "original operative instrument" which can be presented for payment by the beneficiary. The exporter must make sure the negotiating or confirming bank, usually the advising bank, is willing to accept the aforementioned as the original operative instrument. Sometimes advising, negotiating, and even confirming banks who pay on behalf of issuing banks still want to wait for the original written letter of credit to be received by them via mail. This might indicate a financial problem with the issuing bank or some sort of technical problems between the banks which the exporter should investigate immediately. The solution helps reduce or eliminate any delays in credit timely for payment after shipment of the goods. Remember in many cases banks want the original on-board ocean bill of lading presented to them with the original letter of credit.71. The exporter should start to prepare or fulfill the requirements of the foreign customer's purchase order _______________.A. before the exporter has been advised that a letter of credit has been issued in its favorB. after the exporter has been advised that a letter of credit has been issued in its favorC. before the exporter actually receives the letter of credit from the opening or issuing bankD. after the exporter actually receives the letter of credit from the opening or issuing bank72. If the exporter starts to prepare or fulfill the requirements of the foreign customer's purchase order when he has been advised that a letter of credit has been issued, he may run the risk of ________.A. having the goods ready to board a steamship which may not comply with certain terms and conditions stipulated in the letter of creditB. having the goods shipped to the destination and cleared through customsC. having the goods stored in the custom's warehouse without any chargesD. None of the above73. According to the passage, the importer can clear goods through customs on presentation of ____________.A. the original letter of creditB. the original documentsC. the credit instrumentD. expensive demurrage charges。