选择题样题.docx

选择题样题.docx

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选择题样题

1.

Anincreaseinanation'sfinancialliabilitiestoforeignresidentsisa:

A. 

reserveinflow.

B. 

reserveoutflow.

C. 

capitalimports.

D. 

capitalexports.

2.

Whichofthefollowingisconsideredacapitalinflow  

A. 

Asaleof.financialassetstoaforeignbuyer

B. 

Aloanfroma.banktoaforeignborrower

C. 

Apurchaseofforeignfinancialassetsbya.buyer

D. 

A.citizen'srepaymentofaloanfromaforeignbank

3.

Inacountry'sbalanceofpayments,whichofthefollowingitemswillberecordedasadebitentry  

A. 

Domesticbankbalancesownedbyforeignersarereduced

B. 

Foreignbankbalancesownedbydomesticresidentsarereduced

C. 

Assetsownedbydomesticresidentsaresoldtononresidents

D. 

Securitiesaresoldbydomesticresidentstononresidents

4.

Whena.residentincreasesherholdingsofaforeignfinancialasset,thisitemisrecordedasa:

A. 

creditentryinthe.currentaccount.

B. 

debitentryinthe.currentaccount.

C. 

creditentryinthe.capitalaccount.

D. 

debitentryinthe.capitalaccount.

5.

Whichofthefollowingwouldtendtocontributetoa.currentaccountsurplus 

A. 

TheUnitedStatesmakesaunilateraltariffreductiononimportedgoods.

B. 

TheUnitedStatescutsbackonAmericanmilitarypersonnelstationedinJapan.

C. 

.touriststravelinlargenumberstoAsia.

D. 

RussianvodkabecomesincreasinglypopularintheUnitedStates.

6.

Acountryexperiencingacurrentaccountsurplus:

A. 

needstoborrowinternationally.

B. 

isabletolendinternationally.

C. 

mustalsohavehadasurplusinitsoverallpaymentsbalance.

D. 

spendsmorethanitearnsonitsmerchandiseandservicetrade,internationalincomepaymentsandreceiptsandinternationaltransfers.

7..

Anationisconsideredtobea（n）_____intheinternationalmarket,ifitscurrentaccountisindeficit.  

A. 

importer

B. 

exporter

C. 

borrower

D. 

lender

8.

Anationiscalledalenderif:

A. 

itsfinancialaccountisindeficitduringatimeperiod.

B. 

itscurrentaccountisinsurplusduringatimeperiod.

C. 

itscurrentaccountisindeficitduringatimeperiod.

D. 

itsnetstockofforeignassetsispositive.

9.

Anationiscalledacreditorif:

A. 

itprovidedfinancialassetstoothercountries.

B. 

itsnetstockofforeignassetsispositive.

C. 

itscurrentaccountisinsurplusduringatimeperiod.

D. 

itscurrentaccountisindeficitduringatimeperiod.

10.

Theinternationalinvestmentpositionofacountryshows:

A. 

itsstocksofinternationalassetsduringatimeperiod.

B. 

itsstocksofinternationalliabilitiesduringatimeperiod.

C. 

itsstocksofinternationalassetsandliabilitiesatapointintime.

D. 

whetheritscurrentaccountisindeficitorsurplusatapointintime.

11.

IfthepriceofBritishpoundsintermsofthe.dollarsis$perpound,thenthepriceof.dollarsintermsofBritishpoundsis:

A. 

≤perdollar.

B. 

≤perdollar.

C. 

≤perdollar.

D. 

≤perdollar.

12.

Rapidincreasesinthe.exportsofgoodsandserviceswillresultina（n）_____foreigncurrencyanda（n）_____the.dollarsintheforeignexchangemarket.  

A. 

increaseinthedemandfor;increaseinthesupplyof

B. 

increaseinthesupplyof;increaseinthedemandfor

C. 

shortageof;surplusof

D. 

decreaseinthesupplyof;decreaseinthedemandfor

13.

Anincreaseinthe.importsofgoodsandservicesfromtheEUcountrieswillresultina（n）_____euroanda（n）_____the.dollarsintheforeignexchangemarket.  

A. 

increaseinthesupplyof;increaseinthedemandfor

B. 

decreaseinthedemandfor;decreaseinthesupplyof

C. 

surplusof;shortageof

D. 

increaseinthedemandfor;increaseinthesupplyof

14.

AssumeyouareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:

A. 

sellingdollarsinthe60-dayforwardexchangemarket.

B. 

buyingdollarsnowandsellingthesedollarsattheendof60days.

C. 

sellingtheyuanequivalentintheforwardexchangemarketfor60-daydelivery.

D. 

keepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.

15.

AssumeyouareanAmericanimporterwhomustpay500,000Eurosattheendof90dayswhenyoureceive1,000casesofFrenchwineatyourwarehouseinNewYork.Supposethatyouhavenotcoveredthistransactionintheforwardmarket,inwhichofthefollowingcaseswillyousufferthelargestloss  

A. 

Theeurospotexchangeratevaluevis-à-visthedollardoesnotchange

B. 

Theeuro（spot）initiallyappreciatesby2percent,andthendepreciatesby1percent

C. 

Theeuro（spot）initiallydepreciatesby3percent,andthenappreciatesby2percent

D. 

Theeuro（spot）initiallyappreciatesby3percent,andthendepreciatesbypercent

16.

A_____givestheholdertherightbutnottheobligationtosellaforeigncurrencyatsometimeinthefutureatapricesettoday. 

A. 

forwardexchangecontract

B. 

currencyswap

C. 

putoption

D. 

calloption

17.

Whichofthefollowingfinancialinstrumentsprovidesabuyertheright（butnottheobligation）topurchaseorsellafixedamountofcurrencyataprearrangedprice,withinafewdaystoafewyears 

A. 

Letterofcredit

B. 

Currencyoption

C. 

Currencyswap

D. 

Forwardcontract

18.

Aninvestmentis_____ifitisfullyhedgedagainstexchange-raterisk.  

A. 

covered

B. 

uncovered

C. 

speculative

D. 

riskneutral

19.

Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofacoveredinternationalinvestment  

A. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency

B. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars

C. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate

D. 

Buyadollar-denominatedfinancialasset

20.

Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofanuncoveredinternationalinvestment  

A. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency

B. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars

C. 

Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate

D. 

Buyadollar-denominatedfinancialasset

21.

Thecoveredinterestdifferentialis_____thesumoftheforwardpremiumonacurrencyandtheinterestratedifferential.  

A. 

approximatelyequalto

B. 

morethan

C. 

exactlyequalto

D. 

lessthan

22.

Theexchangeratevalueofaforeigncurrencyis_____intheshortrunbyariseintheexpectedfuturespotexchangeratevalue.  

A. 

raised

B. 

lowered

C. 

madevolatile

D. 

notaffected

23.

_____isbuyingacountry'scurrencyspotandsellingthatcountry'scurrencyforward,tomakeanetprofitfromthecombinationofthedifferenceininterestratesbetweencountriesandtheforwardpremiumonthecountry'scurrency.  

A. 

Coveredinterestarbitrage

B. 

Uncoveredinterestarbitrage

C. 

Coveredinterestparity

D. 

Uncoveredinterestparity