金融英语模拟题一T1P2Reading.docx

金融英语模拟题一T1P2Reading.docx

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金融英语模拟题一T1P2Reading

金融英语模拟题

（一）

Parttwo　　　　　　　　　Reading

SectionOne（10%）

Directions:

Therearetenstatementsinthissection.ForeachstatementtherearefourchoicesmarkedA，B，C，D.Youshouldchoosethebestanswer.

31.Ifthelessormakesanequityinvestmentequalto20%oftheequipment'soriginalcost,andborrowstheremaining80%fromalong-termcreditor,andwritesanoncancelableleasefortheequipment,suchleaseiscalleda___________.

　A.operatinglease

　B.leveragedlease

　C.direct-financinglease

　D.sales-typelease

32.Theinterestrateforborrowingfundsfrominter-bankmarketiscloseto,butalwaysslightly____________theratethatisavailablefromthecentralbank.

　A.lowerthan

　B.higherthan

　C.ashighas

　D.notashighas

33.___________isafinancialmarketinwhichsecuritiesthathavebeenpreviouslyissuedcanberesold.

　A.Aprimarymarket

　B.Asecondarymarket

　C.Aissuingmarket

　D.Thecapitalmarket

34.OfthechallengingissuesinInternetbanking,whichpeoplecaremost,

　　is_________.

　A.theprovisionofasecureplatformforbankingtransactions

　B.whethermanagementhasthecreativityandvisiontoharnessthetechnology

　C.howtodeliverhigh-qualityproductsforthecustomers'convenience

　D.whethermanagementhastheabilitytosatisfycustomers'continuallychangingfinancialneeds

35.FromaChineseBank'spointofview,thecurrencyaccountwhichitmaintainsabroadisknownas_______,whileaRMBaccountoperatedinChinaforaforeignbankistermed________.

　A.avostroaccount;anostroaccount

　B.amirroraccount;anostroaccount

　C.anostroaccount;avostroaccount

　D.avostroaccount;amirroraccount

36.If__________,suchasituationiscalledbreak-even.

　A.contributionmargin=fixedcosts

　B.contributionmargin=totalcosts

　C.profit=expense

　D.salesrevenue=variablecost

37.Foreign-fundedenterprisesmayretaintheirexportearningsifthoseearnings_______.

　A.getafterSAFEapproves

　B.willberemittedabroad

　C.willbeinvestedinlocalarea

　D.donotexceedthelimitsetbytheSAFE

38.BOTisanabbreviatedformof_________.

　A.build-or-technology

　B.build-operate-transfer

　C.build-operate-technology

　D.benefit-operate-transfer

39._________isthefoundationofprivateaccounting,whichanalyzesabusiness'scoststohelpmanagerscontrolexpenses.

　A.Budgeting

　B.Managementinformationsystem

　C.Internetauditing

　D.Costaccounting

40.Underwritingsimplymeansthattheinvestmentbankerpromisesto________thesecurities.

　A.buy

　B.sell

　C.design

　D.issue

SectionTwo（10%）

Directions:

Thereare10blanksinthefollowingpassages.ForeachblankstherearefourchoicesmarkedA,B,C,D.Youshouldchoosethebestanswer.

PassageOne

　　Anotherwayofdistinguishingmarketsisonthebasisofthe_____41_______ofthesecuritiesineachmarket.The__42______isafinancialmarketinwhichonlyshort-termdebtinstrumentsaretraded.The___43_____isthemarketinwhichlonger-termdebtandequityinstrumentsaretraded.Thesecuritiesintheformerareusuallymorewidelytradedthanthoseinthelatterandsotendtobe____44______.Inaddition,short-termsecuritieshave_____45______fluctuationsinpricesthanlong-termsecurities,makingthemsaferinvestments.

41.

　A.volume

　B.maturity

　C.issuingprocedure

　D.kind

42.

　A.moneymarket

　B.capitalmarket

　C.primarymarket

　D.secondarymarket

43.

　A.moneymarket

　B.capitalmarket

　C.primarymarket

　D.secondarymarket

44.

　A.moresolvent

　B.morerisk

　C.moreliquid

　D.safer

45.

　A.volatile

　B.violent

　C.wider

　D.smaller

PassageTwo

　　Indocumentarycreditoperations,allpartiesconcerneddealin___46____andnotin____47____.Thebankscheckexclusivelyonthebasisofdocuments___48____tothemtoseewhetherthetermsofthecredithavebeenfulfilled.Theyare____49_____toverifywhetherthegoodssuppliedactuallyagreewiththosespecifiedinthecredit,____50____differences,say,betweenthegoodsinvoicedandthoseactuallydelivered,noranswerabletothebuyers'complaintsaboutthesedifferences.Itisuptothebuyersandsellerstosettlequestionablesofthisnaturebetweenthemselves.

46.

　A.goods

　B.credits

　C.documents

　D.contracts

47.

　A.goods

　B.credits

　C.documents

　D.contracts

48.

　A.delivered

　B.presented

　C.deliver

　D.release

49.

　A.responsible

　B.notresponsible

　C.bound

　D.willing

50.

　A.norliablefor

　B.orliablefor

　C.norliableto

　D.orliableto

SectionThree（10%）

Directions:

Readthefollowingpassages,anddeterminewhetherthesentencesare"Right"or"wrong".Ifthereisnotenoughinformationtoanswer"right"or"wrong''.choose"Doesn'tsay".

PassageOne

　　Newissuesofcommonstockcomeintotwovarieties,primarydistributionsandsecondarydistributions.Primariesaresalesofstockthathaveneverbeenissuedbefore.Therearetwotypesofprimarydistributions--initialpublicoffering（IPOs）andadditionalfloatsofcompanies'stockthatwilldiluteeachshareholder'sexistingholding.Ofthetwo,thelatteraremorecommoninthenewissuesmarketforequitiessincetheyinvolveofferingsofsharesoflarger,morematurecompaniesseekingadditionalequitycapital.Secondarydistributionsaresalesofstockthatpreviouslyexistedinsomeformorotherbutaretoolargetobeaccommodatedonthestockexchanges.Proceduresforsecondariesoftenfollowthoseforprimariesalthoughtheofferingperiodismuchshorterandmayinvolveamatterofhoursratherthandays.

　　Theactualmarketingfortheseissuesisdonebyinvestmentbankersdirectlytothepublic.Onrareoccasions,companieshaveattemptedtoselltheirsharesorbondsdirectlytothepublic,avoidinginvestmentbankingfees.Unlessthecompanyisverywellknown,suchattemptsarelessthansuccessful.Thebehaviorofinvestmentbankersiskeytothereceptionofnewissuesanddirectlyaffectsthecostofcapitalforacompany.Asaresult,thechoiceofaninvestmentbankeriscrucialforacompany,andthewrongchoicecouldaffectitscostsoverthenearterm.

51.Initialpublicofferings（IPOs）areoneofthetypeofprimarydistributions,whileadditionalfloatsofcompanies'stockbelongtosecondarydistributions.

　'tsay

52.Comparedwithadditionalfloatsofcompanies'stock,initialpublicoffering

　　（IPOs）aremorecommonbecausetheyinvolveofferingsofshareslarger,morematurecompaniesseekingadditionalequitycapital.

　'tsay

primarydistributionsandsecondarydistributionsareissuedinprimarymarkets.

　'tsay

54.Fewcompanieshaveattemptedtoseetheirsharesorbondsdirectlytothepublic.

　'tsay

PassageTwo

　　Thesimplestmeansoftransferringfundsabroadisbymeansoftheairmailremittanceorder.Forexample,alocalcustomerofthebankwishestosendmoneytoarelativeinJapan.ThelocalcustomergoestotheUnitedStatesbankandspecifieswhereandtowhomthemoneyistobedelivered.Healsoindicatestheamounthewishestosend,forexample,USD$100.Thebankpreparesalettertoitscorrespondentbankinthetownnearesttowheretherelativelives.Inthisletter,theUnitedStatesbanksays,"AdviseandpayUSdollars100to（nameandaddress）ofrecipient."Thelettersaysthatthisisbyorderofitslocalcustomer,givinghisname.Thenitadds,"Inreimbursement,wecredityouraccountwithus."ThisinformstheJapanesebankthatitsaccountintheUnitedStatesbankhasbeencreditedUSD100（TheUnitedstatesbankcreditstheJapanesebanksduetoaccount）.

55.MTisthesimplestmeansoftransferringfundsabroad.

　'tsay

56.Accordingtothepassage,thelocalcustomerofU.S.isaremitter.

　'tsay

Japanesebankdebitsthe.bank'sduefromaccount.

　'tsay

PassageThree

　　Tofinancethenationaldebt,thegovernmentissuesavarietyofdebtsecurities.ThemostwidelyheldliquidsecurityistheTreasurybill,whichiscommonlyissuedbytheministryoffinance.However.someTreasurybills,liketheTreasurybilloftheU.S.government,donotactuallypayinterest.Insteadtheyareissuedatadiscountfrompar（theirvalueatmaturity）.Theinvestor’syieldcomesfromtheincreaseinthevalueofthesecuritybetweenthetimeitwaspurchasedandthetimeitmatures.

　　Treasurybillsareattractivetoinvestorsbecausetheyarebackedbythegovernmentandthereforearevirtuallyfreeofdefaultrisk.Becauseevenifthegovernmentranoutofmoneyitcouldsimplyprintmoretopaythemoffwhentheymature.Theriskofunexpectedchangesininflationisalsolowbecauseoftheshorttermtomaturity.ThemarketsforTreasurybillsinmostdevelopedcountriesaredeepandliquid,Adeepmarketisonewithmanydifferentbuyersandsellers.Aliquidmarketisoneinwhichsecuritiescanbeboughtandsoldquicklyandwithlowtransactioncosts.Investorsinmarketsthataredeepandliquidhavelittleriskthattheywillnotbeabletoselltheirsecuritieswhentheywantto.

58.Treasurybillsareshort-termandvirtuallyfreeofdefaultrisk.

　'tsay

59.Assometreasurybillsdonotactuallypayinterest,theyarenotattractivetoinvestors

　'tsay

indeepandliquidmarketsfaceimmenseriskthattheywillnotbeabletoselltheirsecuritieswhentheywantto.

　'tsay

SectionFour（20%）

Directions:

Thereare4passagesinthissections.Eachpassageisfollowedbysomequestionsorunfinishedstatements.ForeachofthemtherearefourchoicesmarkedA,B,C,D.Youshouldch