金融英语第3

当前位置：首页. \\阅读. \\Part 3. \\Exercise. \\1. Multiple Choice 1. Multiple Choice

Directions：There are 20 incomplete sentences. Each has four choices marked a, b, c and d. Choose the ONE that best completes the sentence.

(1) The ways of correcting deficit include several measures except ________. A. import restriction B. export restriction C. monetary measures D. devaluation

(2) The prefix \ A. European

B. Some country in Europe C. Offshore

D. All the countries in Europe

(3) China adopts ________ method. A. the direct quotation B. the indirect quotation C. the mean quotation D. the dollar quotation

(4) In ________ the customers have the option granted by the bank to perform or to give up the contracts.

A. spot transactions B. forward transactions

C. option forward transactions D. swap transactions

(5) ________ is not the member of Group of Ten A. Luxembourg B. Netherlands

C. The United States D. Switzerland

(6) When the outflows are smaller than inflows in a currency, then there is ________. A. a short position B. a long position

C. an exchange position D. an interest rate position

(7) In facing foreign exchange risks, a manager may choose to cover using ________. A. forward market B. money market

C. either forward market or money market D. capital market

(8) Accepting or creating a swap position depends on the manager's forecast for ______ . A. the particular maturity dates of the instruments B. interest rate differentials for a future period C. the operation of the multinational firm D. exchange rates relative to francs

(9) In the forward market the exchange risk is covered by ________. A. buying the inflow currency on the specific date

B. selling the inflow currency against the outflow currency C. borrowing a large amount of currency at a later time

D. expecting the inflow currency against the outflow currency

(10) The ________is regarded as the beginning of the reconstruction of the postwar financial system.

A. Bretton Woods B. IMF C. IBRD

D. Bretton Wooods Agreement

(11) Direct quotation is given in terms of the amount of ________ currency required to buy one unit of a ________ currency. A. local; foreign B. foreign; local C. local; local D. foreign; foreign

(12) you will make money if you buy a futures contract ________. A. (go short) and the futures price goes up

B. (go short) and the futures price goes down C. (go long) and the futures price goes up

D. (go long) and the futures price does not change

(13) If you sell a futures contract (go short) and the futures price ______, you will surely lose money.

A. goes up B. goes down

C. does not change D. changes greatly

(14) A balance of payments statement shows a country's ________ foreign countries during a given period of time.

A. receipts and payments of B. receipts and payments from C. receipts from, and payments to D. receipts to, and payments from

(15) ________ referred to as foreign exchange. A. The currency of a foreign country is

B. The convertible currency of a foreign country is C. The process of exchanging foreign currency is

D. Both the currency of a foreign country and the process of exchanging it for the currency of another country are

(16) Foreign exchange rates are determined ________.

A. by supply and demand in the same way that prices of ordinary commodities are determined by supply and demand

B. by supply and demand in a different way that prices of ordinary ommodities are determined by supply and demand C. by interest rates

D. by inflow and outflow of money

(17) If we import more goods than we export, there will be ________. A. a deficit in balance of payment B. an adverse balance of trade C. a surplus in balance of payment D. a favorable balance of trade

(18) If China has a favorable movement in the balance of payments, then ________. A. the exchange rate will appreciate B. the exchange rate will depreciate

C. the RMB exchange rate will appreciate D. the foreign exchange rate will depreciate

(19) ________exchange rates system has the advantage of avoiding the competitive depreciation of exchange rates. A. Floating

B. Managed floating C. Fixed D. Flexible

(20) ______ exchange rates system has the advantage of being free to carry out an independent monetary policy, without too much attention to the balance of payments. A. Floating B. Pegged C. Fixed D. Any

当前位置：首页. \\阅读. \\Part 3. \\Exercise. \\2. True or False

2. True or False

Directions: Read the following sentences and decide whether they are true or false.

(1) International financial leasing is one example of international commercial loans. A. true B. false

(2) The registration certificate for external debt shall be formulated, signed and issued by the

Ministry of Foreign Trade and Economic Cooperation.

A. true B. false

(3) Domestic entities have freedom in leasing, lending or cross-using their foreign exchange

accounts.

A. true B. false

(4) The agents of transactions have the obligation of reporting balance of payments statistics to

the relevant authorities.

A. true B. false

(5) The exchange rate of the Chinese currency is determined by the inter-bank foreign

exchange market.

A. true B. false

(6) The foreign exchange market is not a physical place but a network of telephones & telex

systems connecting large banks all over the world.

A. true B. false

(7) When a firm is subject to changes in interest rate differentials, it has a swap position. A. true B. false

(8) Foreign-funded enterprises may retain their export earnings if those earnings do not exceed

the limit set by the SAFE.

A. true B. false

(9) In order to be marketable on exchanges, options are standardized in terms of quantity,

settlement dates and quotation.

A. true B. false

(10) The obligation to exercise a purchase of a certain amount of a currency at a strike price at

a prearranged expiry date is called a call option.

A. true B. false

(11) Swaps are the simultaneous purchase and sale of identical amounts of a currency for

different value dates.

A. true B. false

(12) Outright forward operations can be hedges, and safe deals if they lack a commercial or

financial background.

A. true B. false

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