金融英语证书考试.docx
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金融英语证书考试
金融英语证书考试（FECT）Exercises
I.Whichofthefollowingisnotafunctionofmoney?
A.Toactasamediumofexchange
B.Toactasaunitofaccount
C.Toactasastoreofvalue
D.Toprovideadoublecoincideneeofwants
E.Toactasameansofpayment
2.Thepriceintheforeignexchangemarketiscalled
A.thetradesurplus
B.theexchangerate
C.themoneyprice
D.thecurrencyrate
3.Marketriskreferstotheriskof
A.financialpricesfluctuations
B.default
C.fraud
D.deferredpayments
4.Whichofthefollowingisnotamongthegenerallyacceptedaccounting
principles?
。
A.Cashbasis
B.Prudenee
C.Consistency
D.Goingconcern
E.Moneymeasurement。
5.Whatisadocumentaryletterofcredit?
。
A.Aconditionalbankundertakingtopayanexporteronproductionofstipulated
documentation
B.Amethodoflendingagainstdocumentarysecurity
C.Aninternationaltradesettlementsystembiasedinfavourofimporters
D.Alloftheabove
6.Holdingagroupofassetsreducesriskaslongastheassets。
A.areperfectlycorrelated
B.arecompletelyindependent
C.donothavepreciselythesamepatternofreturns
D.haveacorrelationcoefficientgreaterthanone
7.Anamount,payableinmoneygoods,orservice,owedbyacreditor,isknownasa/an。
A.liability
B.debt
C.equity
D.asset
8.Whatfunctionismoneyservingwhenyoubuyatickettoamovie
A.storeofvalue
B.amediumofexchange
C.transactiondemand
D.aunitofaccount
9.lfforeignersexpectthatthefuturepriceofsterlingwillbelower
。
A.supplyofsterlingwillincrease,demandforsterlingwillfall
businesstoa
the
andthe
exchangeratewillfall
exchangeratemayormaynotincrease
C.supplyofsterlingwillfall,demandforsterlingwillincrease,andthe
exchangeratewillrise
D.supplyofsterlingwillfall,demandforsterlingwillfall,andtheexchangeratemayormaynotfall
lO.Thedocumentarycollectionprovidesthesellerwithagreaterdegreeof
protectionthanshippingon。
A.openaccount
B.bank'sletterofguarantee
C.banker'sdraft
D.documentarycredit
11.Whichofthefollowingstatementsisnottrueofcentralbanks?
。
A.Theypaythegovernment'ssalaries
B.Theyalwaysundertaketheregulationofthebankingsystem
C.Theyarealwaysthelenderoflastresort
D.Noneoftheabove
12.WhenGBP/USDrategoesfrom1.6150to1.8500,wesaythedollar
A.appreciatesby12.70%
B.depreciatesby14.55%
C.depreciatesby12.70%
D.appreciatesby14.55%
13.Accordingtodiversificationprincipleininvestment,supposeyouinvest
StockXandStockYwithequalfunds,whichofthefollowingisnottrue?
A.IfXandYaretotallyindependentwitheachother,theriskoftheportfolio
isreducedisneitherreducednorincreased
14.Thesearefourmainmethodsofsecuringpaymentininternationaltrade
（1）paymentunderdocumentarycredit
（2）openaccount
（3）collection,thatisdocumentagainstpaymentoracceptaneeofabillofexchange
（4）
paymentinadvanee
A.（4）,
（2）,（3）,
（1）
B.
（3）,
（2）
（1）,
（2）
（1）,（3）
（4）,
（1）
C.（4）,（3）
D.
（2）,（4）
15.Themainliabilityonabankbalaneesheetis
A.deposits
B.capitalandreserves
C.loansandoverdrafts
D.cash
16.showsthatnetincomeforaspecifiedperiodoftimeandhowitwascalculated。
A.Theincomestatement
B.Thecapitalstatement
C.Theaccountingstatement
D.Thestatementoffinancialcondition
17.Whymusttheliabilitiesandassetsofabankbeactivelymanaged。
A.Becauseassetsandliabilitiesarenotevenlymatchedonthesametimescale
B.Becauseassetsandliabilitiesareevenlymatched
C.BecausetheinterbankmarketusesLIBOR
D.Becauseassetsandliabilitiescanbeunderwritten
18.lftheexpectedreturnsoftworiskyassetshaveaperfectnegative
correlation,thenrisk。
A.isincreased
B.fallstozero
C.isunaffected
D.isreducedbyone-half
19.Apossibledisadvantageoffreelyfluctuatingexchangerateswithno
officialinterventionisthat。
A.somenationswouldexperieneecontinualdeficits
B.theexchangeratesmayexperieneewideandfrequentfluctuations
C.nationswouldnoIongerbeabletoundertakedomesticpoliciesdesignedtoachieveandmaintainfullemployment
D.nationswouldneedalargersupplyofinternationalreservesthanotherwise
2O.WhatareyourGBP/USDpositionandtheaveragerateifyousell£4mat
1.6350buy£5mat1.6340andsell$5mat1.6348?
A.Short£2058478.10long$3370000at1.6371
B.Long£5941521.90short$9710000at1.6342
C.Short£5941521.90long$9710000at1.6342
D.Long£4058478.10short$6630000at1.6336
21.Acorrelationcoefficientof+1.0meanstwostocksare。
A.perfectlynegativelycorrelated
B.oppositethemarketbeta
C.equaltothemarketbeta
D.perfectlypositivelycorrelated
22.Thepercentageanalysisofincreasesanddecreasesincorrespondingitems
incomparativefinancialstatementsiscalled。
A.externalanalysis
B.horizontaianalysis
C.verticalanalysis
D.comparativeanalysis
23.
that
Whatisthenameofthedocumentwhichcanmakeabuyerfeelconfident
goodsareofacertainstandard?
。
A.lnspectioncertificate
B.Commercialinvoice
C.lnsuraneepolicy
D.Certificateoforigin
24.Sometimesfinancialintermediariesby"borrowingshortandlendinglong"
findthemselvesindifficultfinancialsituationsbecause。
A.short-termratesarefalling
B.long-termratesarerising
C.depositsincreasetoorapidly
D.short-termratesriserelativetoratesoftheirholdings
E.long-termratesrisemoresharplythanshort-termrates
25.lncotermswerewritten。
A.bytheInternationalChamberofCommerce
B.undertheUnitedNationsConventionfortheInternationalSaleofGoods
（ViennaConvention）
C.undertheKyotoProtocolsasadoptedin2000
26.Thepurposeofkeepingaccountisto。
A.determinewhetherthebusinesshasmadeaprofitoraloss
B.findoutwhythebusinesshaslostmoney
C.seehowmuchhasbeenspent
D.findoutwhythebusinesscannotfulfilitscommitments
27.Ifreservesare20percent,thenthemultipliereffectwillbetimes,
sotheoriginaldepositofRMB40000cancreateuptoofnewdeposits。
A.5……RMB200000
B.4……RMB120000
C.3……RMB80000
D.6……RMB20000
28.ABCCompanyisthebeneficiaryofaconfirmedirrevocableletterof
credit.bank（s）willassurethecompanythatitwillbepaid
A.One
B.None
C.Three
D.Two
29.Legaltenderincludes。
A.notesandcoins
B.notesonly
C.coinsonly
D.notes,coinsandchecks
30.Thefollowingarethebasicfunctionsofabillofladingexcepttoactas
。
A.areceiptforthegoodsfromtheshippingcompanytotheexporter
B.adocumentoftitleforgoodsbeingshippedoverseas
C.acertificateoforigin,whichcertifiesthatthegoodswereproducedin
aparticularcountry
D.evideneeofthecarriagecontractbetweentheexporterandthecarrier
31.Persistentforeigntradedeficitsunderaflexibleexchangeratesystemusually
leadto。
A.inflationinthedomesticeconomy
B.speculationoffuturedevaluation
C.fallinginterestrates
D.risingimports
32.Theadditionalamountpaidinbuyingorsellingacurrencyatagivenfuture
dateiscalled。
A.premium
B.commission
C.tariff
D.dividend
33.Banksmanagetheirassetsconsidering。
A.risk
B.someoptimumcombinationoftheabove
C.earnings
D.liquidity
34.Whatisthefunctionofthebook-keepingsysteminbankaccounting?
A.Toprovethatalltheday'stransactionshavegonethroughfortherightamount
B.Toprovethatalltheday'stransactionshaveallbeenpostedtotheright
account
C.Toprovethatthefreshbalaneeofthoseaccountsiscorrectafterrecordingthetransactions
D.Alloftheabove
35.Theriskthatisspecifictoindividualstocksiscalled。
A.systematicrisk
B.countryrisk
C.unsystematicrisk
D.marketrisk
36.ThemainobjectiveoftheExchangeEqualizationAccountisto。
A.preventunduefluctuationintheexchangevalueofonecountry'sowncurrencyagainstothercurrencies
B.controltherateofinflation
C.ensurethatnotesandcoinscontinuetobeacceptableasamediumofexchange
D.permittheexchangeofpaymentsbetweenbanks
37.Howcanyouprovethatnotransactionsaremissingorwrongattheendof
theday?
。
A.Thereisnootherwaythanhavethesetransactionsrepostedtotheproperentries
B.Wecanexamineallthetransactionscarefullyandfindthewrongrecords
C.Wecanbalancethetotaldebitsandthetotalcreditsbycalculatingthemagain
D.Wecandothatbycheckingthetotaldebitsandthetotalcreditstoseewhethertheyareinstateofbalance
38.Money。
A.servesasthecriticalfunctionofamediumofexchange
B.facilitatestradeingoodsandservices
C.overcomestheinefficienciesofbarter
D.alloftheabove
39.lfdealersbuycurrencyforwardbutdonotsellforwardatthesametimetheirpositionisknownas。
A.short
B.forerunner
C.speculation
?
A.onlyifclearlyincorporatedintothecontractofsale
B.toInternationalshipmentsbeyondacertaintonnage
C.tointernationalshipmentsundertheUniformCommercialCode
D.toallinternationalshipmentsofgoods
41.Underwhichoneofthefollowingcircumstanceswoulditbewiseforyour
customertoarrangeaforwardforeignexchangecontract?
。
A.Importofgoodspricedinaforeigncurrency
B.ImportofgoodspricedinRMB
C.ExportofgoodspricedinRMB
D.Exportofgoodspricedinaforeigncurrencywheretherateofexchangehas
beenagreedinthesalescontract
42.lncotermsaddress。
A.theriskso
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