金融英语翻译题考试第一章

第⼀章--为何学习⾦融市场与机构（英⽂习题及答案）资料Chapter 1 Why Study Financial Markets and Institutions?1.1 Single Choice1)Financial markets and institutionsA)involve the movement of huge quantities of money.B)affect the profits of businesses.C)affect the types of goods and services produced in an economy.D)do all of the above.E)do only A and B of the above.2)Financial market activities affectA) personal wealth.B) spending decisions by individuals and business firms.C) the economy's location in the business cycle.D) all of the above.3) Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are calledA) commodity markets.B) funds markets.C) derivative exchange markets.D) financial markets.4) The price paid for the rental of borrowed funds (usually expressed as a percentage of the rental of $100 per year) is commonly referred to as theA) inflation rate.B) exchange rate.C) interest rate.D) aggregate price level.5) The bond markets are important becauseA) they are easily the most widely followed financial markets in the United States.B) they are the markets where interest rates are determined.C) they are the markets where foreign exchange rates are determined.D) all of the above.6) Interest rates are important to financial institutions since an interest rate increase _________ the cost of acquiring funds and _________ the income from assets.A) decreases; decreasesB) increases; increasesC) decreases; increasesD) increases; decreases7) Typically, increasing interest ratesA) discourages individuals from saving.B) discourages corporate investments.C) encourages corporate expansion.D) encourages corporate borrowing.E) none of the above.8) Compared to interest rates on long-term U.S. government bonds, interest rates on _________ fluctuate more and are lower on average.A) medium-quality corporate bondsB) low-quality corporate bondsC) high-quality corporate bondsD) three-month Treasury billsE) none of the above9) Compared to interest rates on long-term U.S. government bonds, interest rates on three-month Treasury bills fluctuate_________ and are _________ on average.A) more; lowerB) less; lowerC) more; higherD) less; higher10) The stock market is important becauseA) it is where interest rates are determined.B) it is the most widely followed financial market in the United States.C) it is where foreign exchange rates are determined.D) all of the above.11) Stock prices since the 1950s have beenA) relatively stable, trending upward at a steady pace.B) relatively stable, trending downward at a moderate rate.C) extremely volatile.D) unstable, trending downward at a moderate rate.12) The largest one-day drop in the history of the American stock markets occurred inA) 1929.B) 1987.C) 2000.D) 2001.13) A rising stock market index due to higher share pricesA) increases people's wealth and as a result may increase their willingness to spend.B) increases the amount of funds that business firms can raise by selling newly issued stock.C) decreases the amount of funds that business firms can raise by selling newly issued stock.D) both A and B of the above.14) A declining stock market index due to lower share pricesA) reduces people's wealth and as a result may reduce their willingness to spend.B) increases people's wealth and as a result may increase their willingness to spend.C) decreases the amount of funds that business firms can raise by selling newly issued stock.D) both A and C of the above.E) both B and C of the above.15) Changes in stock pricesA) affect people's wealth and their willingness to spend.B) affect firms' decisions to sell stock to finance investment spending.C) are characterized by considerable fluctuations.D) all of the above.E) only A and B of the above.16) (I) Debt markets are often referred to generically as the bond market. (II) A bond is a security that is a claim on the earnings and assets of a corporation.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.17) (I) A bond is a debt security that promises to make payments periodically for a specified period of time. (II) A stock is a security that is a claim on the earnings and assets of a corporation.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.18) The price of one country's currency in terms of another's is calledA) the exchange rate.B) the interest rate.C) the Dow Jones industrial average.D) none of the above.19) A stronger dollar benefits _________ and hurts _________A) American businesses; American consumers.B) American businesses; foreign businesses.C) American consumers; American businesses.D) foreign businesses; American consumers.20) A weaker dollar benefits _________ and hurts _________A) American businesses; American consumers.B) American businesses; foreign consumers.C) American consumers; American businesses.D) foreign businesses; American consumers.21)From 1980 to early 1985 the dollar _________ in value, thereby benefiting American _________A) appreciated; businesses.B) appreciated; consumers.C) depreciated; businesses.D) depreciated; consumers.22) Money is defined asA) anything that is generally accepted in payment for goods and services or in the repayment of debt.B) bills of exchange.C) a riskless repository of spending power.D) all of the above.E) only A and B of the above.23) The organization responsible for the conduct of monetary policy in the United States is theA) Comptroller of the Currency.B) U.S. Treasury.C) Federal Reserve System.D) Bureau of Monetary Affairs.24) The central bank of the United States isA) Citicorp.B) The Fed.C) Bank of America.D) The Treasury.E) none of the above.25) Monetary policy is chiefly concerned withA) how much money businesses earn.B) the level of interest rates and the nation's money supply.C) how much money people pay in taxes.D) whether people have saved enough money for retirement.26) Economists group commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaries. Financial intermediariesA) act as middlemen, borrowing funds from those who have saved and lending these funds to others.B) produce nothing of value and are therefore a drain on society's resources.C) help promote a more efficient and dynamic economy.D) do all of the above.E) do only A and C of the above.27) Economists group commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaries. Financial intermediariesA) act as middlemen, borrowing funds from those who have saved and lending these funds to others.B) play an important role in determining the quantity of money in the economy.C) help promote a more efficient and dynamic economy.D) do all of the above.E) do only A and C of the above.28) Banks are important to the study of money and the economy because theyA) provide a channel for linking those who want to save with those who want to invest.B) have been a source of rapid financial innovation that is expanding the alternatives available to those wanting to invest their money.C) are the only financial institution to play a role in determining the quantity of money in the economy.D) do all of the above.E) do only A and B of the above.29) Banks, savings and loan associations, mutual savings banks, and credit unionsA) are no longer important players in financial intermediation.B) have been providing services only to small depositors since deregulation.C) have been adept at innovating in response to changes in the regulatory environment.D) all of the above.E) only A and C of the above.30) (I) Banks are financial intermediaries that accept deposits and make loans. (II) The term "banks" includes firms such as commercial banks, savings and loan associations, mutual savings banks, credit unions, insurance companies, and pension funds. A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.31) ____ was the stock market's worst one-day drop in history in the 1980s.A) Black FridayB) Black MondayC) Blackout DayD) none of the above32) The largest financial intermediaries areA) insurance companies.B) finance companies.C) banks.D) all of the above.33) In recent yearsA) interest rates have remained constant.B) success of financial institutions have reached levels unprecedented since the Great Depression.C) stock markets have crashed.D) all of the above.34) A securityA) is a claim or price of property that is subject to ownership.B) promises that payments will be made periodically for a specified period of time.C) is the price paid for the usage of funds.D) is a claim on the issuer's future income.35) ____ are considered a financial institutions.A) BanksB) Insurance companiesC) Finance companiesD) Investment banks36) Monetary policy affectsA) interest rates.B) inflation.C) business cycles.D) all of the above.答案：1-5：DDDCB 6-10：BBDAB 11-15：CBDDD 16-20：ACACA。

货币（Money）1,1货币的定义：货币是指在支付购买商品和服务的款项方面以及在清偿债务方面为人们所普遍接受的事物。

currency(指纸币和硬币)显然符合这一定义，是money的一种类型。

然而，money仅仅是被定义为currency对于现在的人们来说太狭隘了，因为事实上不仅可以通过currency(货币，指硬币和纸币)进行支付，还可以通过支票转账和电子转账来进行支付。

因此，支票也作为被接受的用于购买的支付工具，支票账户存款也被认为是种货币。

有时，就有必要使用货币（money）的广义定义，因为如果money可以很便捷的转换为currency,那么像储蓄存款等实际上也可以发挥货币的作用。

1.2货币的类型1.2.1商品货币：商品货币或者实物货币是一种其价值来源于制作商品的货币，制作商品货币或实物货币的商品本身也拥有价值同时也可作为货币来使用。

曾被用来作为交换媒介的商品有金、银、铜、盐、大的石头、装饰的腰带、贝壳、酒、烟、大麦等。

实际上，在过去的4000年期间，主要的商品货币是贵金属：大多数是银、金，也称为足值货币，贵金属货币阶段是商品货币的阶段之一。

几乎所有的国家都曾经经历过贵金属货币（是货币的一种完美的形式）阶段。

1.2.2代用货币：代用货币或者代用足值货币是指完全有贵金属作为支持的货币。

代用货币的价值与商品有着直接固定的关系，然而它们本身并不是由商品构成。

在20世纪30年代，经济与金融危机爆发，纸币不再能兑换为贵金属，金本位制或者银本位制瓦解，主要的西方国家不得不脱离金属本位制。

因此，纸币不能再被兑换为黄金。

自那时开始，代用货币退出流通领域，信用货币就出现了。

1.2.3信用货币：信用货币既不是由特定的有价值的商品构成的也不代表特定的有价值的商品。

信用货币的价值取决于其普遍接受程度（而普遍接受程度又是以发行者的信用为基础的），信用货币是通过信用流程发行的。

信用货币有两个特征：一是和贵金属的联系，另一个其价值是基于国家政府和银行的信用。

金融业的主要技术和领域一个收入超过其支出的实体，可以将他的超额收益拿去出借或者是投资；另一方面，一个收入少于其支出的实体，它可以通过借款或出售股权债权，降低其费用，或增加其收入筹集资金。

贷款人可以（找到一个借款人）通过金融中介机构，如银行，或在债券市场购买票据或债券找到一个借款人。

贷款人收到利息，借款人支付比贷款人更高的利率，而金融中介则是赚取其中的差价。

银行把许多借款人与贷款人的交易聚集起来。

银行接受来自贷款人的存款，并支付其利息；银行再将这些存款借给借款人。

银行允许借款人和贷款人，采用不同的规模，以协调他们的活动。

银行需要补偿资金这样的空间流动。

企业融资的一个具体例子是将股票出售给机构投资者，如投资银行，投资银行又转而卖给公众。

而谁拥有股票，谁就拥有那家公司的一部分所有权。

如果你买一股XYZ公司的股票，他们有100股流通股（按投资者持有），那么你就拥有公司1/100 的所有权。

当然，作为回报，投资者要向该公司支付现金，该公司用钱来扩展其业务，这个过程就叫“股权融资”。

股权融资与出售债券（或任何其他债务融资）的混合被称为该公司的资本结构。

财政用于个人（个人理财）、政府（财政）、企业（企业融资）、以及由各种组织，包括学校和非营利性组织。

在一般情况下，每一个上述的活动的目标，通过考虑到它们的机构设置，使用适当的金融工具得以实现。

财务是企业管理中最重要的方面之一。

如果没有适当的财务规划，新的企业是不可能成功的。

无论是对个人和组织，理财（流动资产）都是必要的，这样才能确保一个安全的未来。

个人理财个人理财是以个人或家庭为单位的货币决策原则的金融应用。

它解决了在个人或家庭获得预算，储蓄的途径，和随着时间的推移花费金钱资源的方式，同时考虑到各种金融风险和未来的生活事件。

个人理财的构成可能包括支票和储蓄账户，信用卡和消费贷款，投资于股票市场，退休计划，社会保障福利，保险政策，所得税管理。

个人理财的问题都是围绕着：●在哪个时点，个人（或家庭）所需要的是多少钱？●这些钱将从哪里而来，怎么获得的？●人们要怎么保护自己免受突发事件，以及保护那些在外部经济？●家庭资产如何进行最佳跨代（遗赠和继承）转让？●税收政策（税收补贴或罚款）是怎样影响个人财务决策？●信贷是怎样影响个人的财务状况？●在经济不稳定的环境，怎能设计一个安全的未来理财计划？个人财务决策在涉及教育，融资耐用品（如房地产和汽车），购买保险（例如健康和财产保险），投资及退休储蓄时，可能需要支付资金。

中译英：一.1.金融管理是商业管理的重要方面之一,没有合适的金融计划企业是不可能成功的;Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful.2.金融中介机构的基本宗旨是把不受公众欢迎的金融资产转变为他们能够接受的金融资产;Financial intermediaries play the basic role of transforming financial assets that less desirable for a large part of the public into other financial assets-their own liabilities-which are more widely preferred by the public.3.企业经营是有风险的,因而,财务经理必须对风险进行评估和管理;Businesses are inherently risky, so the financial manager has to identify risks and make sure they are managed properly.4.投资决策首先是指投资机会,常常指资本投资项目;The investment decision stars with the identification of investment opportunities, often referred to as capital investment projects.5.现金预算常常被用来评估企业是否有足够的现金来维持企业的日常经营运转和或是否有太多现金富裕;Cash budgets are often used to assess whether the entity has sufficient cash to fulfill regular operations and/or whether too much cash is being left in unproductive capacities.6.按照金融学的观点,资本就是企业购买商品以生产其它商品或提供服务的货币资金;Capital, in the financial sense, is the money that gives the business the power to buy goods to be used in the production of other goods or the offering of a service.四.1.商业银行应积极开展银行转账功能风险评估和分类,依据收款账户的潜在风险高低,相应设置不同的转账额度和次数限制;A commercial bank shall actively conduct the risk assessment and classification of the telephone banking transfer functions, and set different limits on the transfer amount and times according to the degree of potential risks on the recipient account.2.商业银行相对其他行业属于信息化程度较高的行业,银行数据库里积累了海量的客户信息Commercial banks have gained more information and have large scale of data.3.商业银行的管理人员在分析客户的贷款申请时必须考虑许多因素;Managers in Commercial banks have to consider many factors in analyzinga customer's loan request.4.除中国银行外,交通银行、农业银行、工商银行、建设银行在城乡也都设立了许多的机构,便于你获得金融服务;Besides the Bank of China, the Communication Bank, Agricultural Bank, Industrial and Commercial Bank, Construction Bank also have created many branches in a city or town, and that makes easier for you to get financialservices.5.定期存款也叫CD,是存款证书的一种类型;A certificate of deposit, also called a CD, is a type of savings certificate.6.商业银行作为一家金融机构,其业务范围包括：从个人和公司吸收存款；通过提供贷款和其他对客户的财务或生意的运转很重要的金融业务来建立信贷,包括资金转账、支票兑现、银行保管箱等;A commercial bank is an financial institution established to: accept deposits from individuals and businesses; originate credit by providing loans and offering other financial services essential to the running of a customer's financial or business affairs, including fund transfers, check cashing, safe deposit boxes, etc.六.1.外汇交易市场,也称为"Forex"或"FX"市场,是世界上最大的金融市场,平均每天超过1兆美元的资金在当中周转 -- 相当于美国所有证券市场交易总和的30倍;The Foreign Exchange Market, called by "Forex" market or FX market, is the biggest financial market in the world with trading volumes surpassing USD1 trillion average one-day, it is as big as 30 times of stock market.2."外汇交易"是同时买入一对货币组合中的一种货币而卖出另外一种货币;外汇是以货币对形式交易,例如欧元/美元EUR/USD或美元/日元USD/JPY;“Foreign exchange” is to buy one currency and sell another in currency pair at the same time. The trading form of foreign currency is the currency pair, for example EUR/USD OR USD/JPY.3.外汇交易市场是一个24 小时全球交易市场,市场交易每天从悉尼开始,并且随着地球的转动,全球每个金融中心的营业日将依次开始 , 首先是东京,然后伦敦,和纽约;Foreign exchange market is worldwide market where operating 24 hours a day, the market trading starts from Sydney, turning around the earth , the business day of every financial center in the world will star to trade in turn, then is Tokyo, next is London, and New York.4.外汇交易投资者可以对无论是白天或者晚上发生的经济,社会和政治事件而导致的外汇波动而随时反应;Investors of FX may make decisions base on the fluctuation of foreign currency price leaded by economics, society and political events no matter happens in day time or night.5.外汇交易市场是一个超柜台 OTC 或“ 银行内部”交易市场,因为事实上外汇交易是交易双方通过或者一个电子交易网络而达成的,外汇交易不象股票和期货交易市场那样,不是集中在某一个交易所里进行的;The foreign exchange market is Over the Counter OTC or interbank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock trade, it is not intensive trading in exchange center.6.在外汇交易中,您会看到一个两边的报价,由买价与卖价组成,买价是在此价格上您拟卖掉基础货币同时买进相反货币;卖价是这个价格,在此价格上您可以买进基准货币时卖掉相反货币;You will see the price board consisted of bid price and ask price in trading of foreign currency, bid price is the price you sell your base currency at the same time buy reverse currency. Ask price is the price you buy base currency and sell reverse currency.七.1.企业融资是指企业在发展扩张中筹集所需资金的行为;Business financing is an action of raising money when firms extend business and development2.企业融资是为了满足企业战略调整、产业扩张、现金周转等方面的需要; Business financing is to meet the requirement of strategy adjustment, industry extending, and turnover of cash and so on.3.企业通过融资行为改变资本结构,使资金得以形成、集中、积累、组合,同时形成相应的产权关系和权利、责任、利益格局;The capital structure of the firm will be changed through raising money, the capital will be formed in the form of centralization, accumulation, combination, and at the same time relative property right relations and pattern of benefit, duty and right will be formed.4.内部融资的来源公司的自有资金,以及在生产经营过程中的资金积累部分,在公司内部通过计提折旧而形成现金,或通过留用利润等增加公司资本;The resource of internal financing comes from company’s internal fund, the part of fund accumulation of producing and operating, cash from depreciation, or capital from remaining earning.5.债权性融资主要有向金融机构贷款和发行企业债券两种形式;The two majority forms about debit financing are lending money from financial institutes and issuing company bond.6.目前国内企业在进行投资时采用的融资方式有股权性融资、债权性融资等; Presently financing methods used by domestic enterprises when investing are equity financing and debit financing, etc.九.1.组合投资原则,即将风险资金按一定比例投向不同行业、不同企业项目,或联合几个风险投资公司共同向一家企业投资;The principle of portfolio investment is that the venture capital is invested into different industries and different projects, or make a cooperation with other investing companies to invest a company. 2.风险投资主体多元化原则,在美国,风险资金来源相当广泛,既有政府、财团法人的资金,也有来自大众游资、民间企业和海外的投资,还有养老保险基金的积极参与;The principle of diversification of venture capital, in American, the resource of venture capital is quite widespread, it comes from government, financial institutes, and it can come from privates, private firms and oversea investment, and pension fund joint venture capital too.3.创业投资是由专业投资者投入到新兴的、迅速发展的、有巨大竞争潜力的企业中的一种股权性资本;Venture investment is an equity capital which professional investors invest to a new, developing rapidly and more competitive firm.4.随着社会经济的快速发展,如何投资、如何理财已经成为商业人士关注的焦点;With society economy high-speed development, how to invest and finance is the focal point which business men focus on.5.创业投资以其谋求长期资本收益、分散投资及专业化管理的特点适应了高新技术产业的资金需求,以其特别的投资方式、合同方式和组织架构部分地解决了信息不对称和激励约束不当所带来的问题.Venture capital is looking for long term capital return, the characteristic of diversification of investment and professional management adapts capital requirements of high-new technical industry, special investing model of venture capital, contract model and frame of organization solve problems of information asymmetry and incentive and restraint mechanisms flaw in partly.6.投资者可把目光聚焦到正在发售的银行保本基金上,这种在国际市场上大受欢迎的新型理财品种不但能够提供银行储蓄般的安全感,而且可以利用此次利率上升的机会创造更高的收益；同时,加息导致债券价格下跌,实际上提高了即将入市的银行保本基金的债券投资收益率;Investors may focus on guaranteed fund issued by bank, it is new style of financing product which is welcomed in the international market, it is not only shows the safety like bank deposit, but also make higher return with the interest rate arise, at the same time, rising interest rates will lead to fall of the bond price, and make higher return of guaranteed fund which will be issued by banks.十.1.债券买卖是指交易双方以约定的价格买卖一定金额的债券并在规定的清算时间内办理债券款交割的交易方式;Security trading is a trading model that both of seller and buyer sign a contract with the confirmed bond price and number, during settlement both of seller and buyer make a delivery.2.债券回购是指交易双方进行的以债券为权利质押的一种短期资金融通业务;资金融入方正回购方在将债券卖给资金融出方逆回购方以融入资金的同时,双方约定在将来某一日期由正回购方按约定回购利率计算的金额向逆回购方买回相等数量的同品种债券的交易行为;Redeem of security is a short term financing business that both of issuer and holder of bond takes bond as right pledge, when the borrower of fund positive redeemer sells bond to lender of fund negative redeemer for financing, both of them sign a contract in there positive redeemer will redeem the bond that he issued with redeem interest from negative redeemer before maturity of bond.3.所谓可转换公司债券是指由公司发行的,投资者在一定时期内可选择一定条件转换成公司股票的公司债券,通常称作可转换债券或可转债;这种债券兼具债权和股权双重属性;Convertible bond is security issued by firm which investors have option to convert bond into firm’s stock during holding period, the convertible bond consists of two characters of bond and stock.4.证券交易必需受SEC及证券交易所自我约束机制的监管;Security trading must be managed by SEC and self-regulating mechanism of the stock exchange.5.场外交易市场不是一个正式的证券交易所,而是由经纪人和交易商组成的一个非正式的网络,他们通过这一网络协商证券的交易;The over-the-counter market is not official security exchange market, itis unofficial network grouped by dealers and brokers, dealers and brokers exchange securities through the network.6.一级市场上的发行方式也分为两种,公募和私募;The issue model of stock in the primary market can be classified into: public offering and private offering.十二.1.新股的发行价总是超过面值的,记录在公司帐上的这个差叫附加实缴资本,也叫资本公积;The price at which new shares are sold to inverstors almost always exceeds par value,the difference is entered the company’s accounts as additional paid-in capital, or capital surplus.2.尽管股票这个名字很大众化,但是,大部分人都不是充分了解它;Despite their popularity, however, most people don't fully understand stocks.3.公司的管理层的主要任务是增加公司股票持有人所持有公司资产的价值; The management of the company is supposed to increase the value of the firm for shareholders.4.有限责任是股票的一个十分重要的特征,这意味着公司在不能支付它的债务时股票持有者没有负债责任;An extremely important feature of stock is its limited liability, which means that, as an owner of a stock, you are not personally liable if the company is not able to pay its debts.5.理解股票供求关系是容易的,但是理解人们喜欢哪些股票不喜欢哪些股票是苦难的;Understanding supply and demand is easy, What is difficult to comprehend is what makes people like a particular stock and dislike another stock. 6.一些人人为预测股票价格变化是不可能的,而一些人认为通过画图和分析以前的价格变化就能决定买卖时间;Some believe that it isn't possible to predict how stock prices will change, while others think that by drawing charts and looking at past price movements, you can determine when to buy and sell.英译中：一.1. A cash budget is extremely important, especially for small businesses, because it allows a company to determine how much credit it can extend to customers before it begins to have liquidity problems.现金预算是十分重要的,特别是对小企业,这是因为它决定了企业可以使用多大的赊销份额而不发生现金困难;2. Financial intermediaries include depository institutions commercial banks and credit union who acquired the bulk of their funds by offering their liabilities to the public mostly form of deposit. 金融中介机构包括：存款性机构商业银行和信用合作社主要通过存款的形式向公众借款,从而获得大部分资金;3. A corporation is a legally distinct from its owners, who are called shareholders or stockholders. 公司在法律上独立于其所有者,即股东;financial planning focus on the firm’s goals, the investment that will be needed to meet those goals, and the financing that must be raised. 长期财务计划是关于企业的长期目标、为实现目标所需要的投资以及因此必须筹集的资金的计划;are classified into nonfinancial and financial businesses. These entities borrow funds in the debt market and raise funds in the equity market. 企业可被分成金融企业和非金融企业两类;这些企业在债务市场借款和在权益市场融资;6. Finance is the set of activities dealing with the management of funds. More specifically, it is the decision of collection and use of funds. It is a branch of economics that studies the management of money and other assets.金融是涉及到一系列有关资金管理的活动;特别的,它是有关资金使用和筹集的决策;它是经济学的一个研究货币和其它资产管理的分枝;四. risk-based capital requirements imposed on commercial bank and saving and loan associations.对商业银行和存贷款协会实施以风险为基础的资本金要求;regulates commercial banks and thrifts and types of regulations imposed. 谁来监管商业银行与储蓄机构以及何种方式来进行;3. Banks generate income in three ways: 1the bid-ask spread;2capital gains on the securities or foreign currency used in transactions, and 3in the case of securities, the spread between interest income earned by holding the security and cost of funding the purchase of security.银行可以从三个方面产生收入：1买卖差价；2证券或外汇交易的资本利益；3证券的利息收入和购买证券资金成本之间的价格差异;4. Several types of deposit accounts are available. Checking accounts pay no interest and can be withdrawn upon demand.存款帐户有好几种,支票帐户不支付利息可以随时提取;certificate of deposit can take a wide variety of forms which are negotiable with the issuing bank. 定期存单可以采取多种多样的形式是可转让的发卡银行;that raise most of their funds from the domestic and international money markets, relying less on depositors for funds, are called money center banks.货币中心银行是指较少依赖存款,并在国内或国外货币市场筹集资金的银行;六.1,The foreign exchange market is a place to trade foreign exchange currency, or it is also a place for the transaction of all foreign currency. 外汇市场是交易外国货币或各国货币的场所.foreign exchange rate is the relative value between two currencies. In particular, it is the quantity of one currency required to buy or sell one unit of the other currency.汇率是两种货币间的相对价值, 特别是, 它是买卖一个其它货币单位所代表的本币量值.. dollars are not used to express an exchange rate, the term "cross rate" is usually used to express the relative values between two currencies.在美元被用来表示汇率的地方,套汇汇率就被用来表示两种货币间的相对价值.an online currency trader wants to survive in the business, he must learn to limit his losses. This is one of the keys to smart money management. 如果一个网络货币交易者要持续他的交易他必须学习限制损失,这是货币管理的关键点.is safer to get into a currency position in multiple lots than to do it all at once.在多个地点持有外汇头寸比同时持有多个头寸安全.Forex market itself consists of a worldwide network of primarily interbank traders connected by telephone lines and computers. FX traders constantly negotiate prices between one another and the resulting market bid/ask price for a particular currency is then fed into computers and displayed on official quote screens.外汇市场本身含有提供给银行交易者通过线和计算机连接的全球范围的网络,外汇交易者讨论的汇率价格产生了市场上某种货币的报价和询价并通过计算机系统显示在交易屏幕上.七. you have too much debt, your business may be considered overextended and risky and an unsafe investment.如果你的企业负债比重过高,投资者则会认为企业是扩张过度,对投资者来说是不安全和高风险的;financing is attractive because you do not have to sacrifice any ownership interests in your business, interest on the loan is deductible, and the financing cost is a relatively fixed expense.债务融资对企业权益者是有吸引力的因为债务融资不会牺牲权益者的利益,借款利息可在收益中扣减,财务成本是相对固定费用.corporation is a separate legal entity that can be created only by compliance with state statutes.公司是一个其所有权与经营权相分离的经济实体即法人组织,公司的成立要遵守洲法.partners raise equity funds through their own capital contributions, by adding a new partner, or by restructuring the relative ownership interests of the existing partners to reflect new contributions.合伙人企业可通过出让合伙人自己的资本份额,或增加合伙人的方式来增加企业资本,或采用对原有合伙人所拥有的相对资本份额进行重组的方式来反映新的资本.financing requires that you sell an ownership interest in the business in exchange for capital.权益融资需要企业所有者出让企业的所有权利益来换取资本.major disadvantage to equity financing is the dilution of your ownership interests and the possible loss of control that may accompany a sharingof ownership with additional investors.权益融资的主要缺点是稀释了所有者的利益,随着其他投资者所占权益份额的扩大企业控制权也可能失去.九. is when everything in the economy is great, people are finding jobs, is growing, and are rising. Things are just plain rosy during a bull market is easier because everything is going up.牛市意味着经济发展强劲,工作岗位多,GDP 增长,股票价格上升.前景变得光明.在牛市期间投资股票将有丰厚收益因为所有物品的价格都将上升.markets cannot last forever though, and sometimes they can lead to dangerous situations if stocks become overvalued.牛市不可能永远持续,如果股票价格被高估则牛市就将导致崩盘.a person is optimistic, believing that stocks will go up, he or she is called a "bull" and said to have a "bullish outlook."如果一个人乐观的认为股票价格将上升,他或她被称做”多头”和有一个行情看涨的形象.investments it is critical to distinguish between an expected return the anticipated return for some future period and a realized return the actual return over some past period. Investors invest for the future—for the return they expect to earn—but when the investing period is over, they are left with their realized returns.投资学对期望收益预测的将来某时间段的收益和已实现收益过去某时段的实际收到的收益有严格的区分.投资者投资为将来-他们希望获取的收益-但是在投资周期结束后,他们只得到实际的收益.investors actually earn from their holdings may turn out to be more or less than what they expected to earn when they initiated the investment. This point is the essence of the investments process: investors must always consider the risk involved in investing.投资者在投资期间实际得到的收益与他们初始投资所预想的收益或多或少有差异.投资过程的关键点是:投资者在投资时必须牢记风险的成在.are three important factors you need to consider before buying a bond. The first is the person issuing the bond. The second is the interest or coupon you will receive. The third is the maturity date, the day when the borrower must pay back the principal to the lender.在投资债券前你要考虑三个重要因素:第一是债券发行人;第二是你将得到的利息或折扣;第三是到期时间, 在到期日债券发行人必须将本金退给债券持有人.十. higher rate of return the bond offers, the more risky the investment. There have been instances of companies failing to pay back the bond default, so, to entice investors, most corporate bonds will offer a higher return than a government bond.债券收益率越高投资风险越大,已有公司不能在到期日偿还债券本金违约的先例,所以, 为了诱使投资者购买公司债券大多数公司都发行高于政府债券利率的债券.is important for investors to research a bond just as they would a stock or mutual fund. The bond rating will help in deciphering the default risk.象研究股票和共同基金样研究债券对投资者来说是必要的, 辨别债券等级将有助于识别违约风险.interest is added to the contract price of a bond transaction.应计利息要加到债券交易合同价格中.Gain. An increase in the value of a investment or real estate that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A may be short term one year or less or long term more than one year and must be claimed on income taxes.资本利得是资本价值投资或不动产的增加,也就是高于购买价格的增值部分,利得只有在这些资产出售后才能实现, 资本利得可以是短期一年以内或长期一年以上, 资本利得必须征税.any other type of investment vehicle, fixed-income securities should be viewed in terms of their risk and return. Generally speaking, bonds are exposed to five major types of risks: interest rate risk, purchasing power risk, business/financial risk, liquidity risk, and call risk.象任何其它投资工具一样,固定收益证券也应该按照它们的风险和收益来进行评价. 一般看来, 证券有五种主要的风险:利率风险,购买力风险,商业风险,流动性风险和回购风险.far we've discussed the factors of face value, coupon, maturity, issuers and yield. All of these characteristics of a bond play a role in its price.到目前我们已经讨论了债券的面值,利息率,到期日,发行人和收益,全部这些特征都会影响到债券的价格.十二. splits,like stock dividents, do not increase the assets or earning capacity of the firm,the split does decrease the price of the stock and thereby may increase its marketability.股票拆分与股票股利一样,并不能增加公司的资产或者提高公司的盈利能力,拆分降低了股票的价格,从而增加了股票的流动性;may repurchase shares to reduce the chance of an unwanted takeover attempt.管理层可以回购股票来避免公司被收购;two most important characteristics of common stock as an investment are its residual claim and limited liability features.作为投资的普通股的两个最重要的特征是剩余索取权和有限责任;stocks are traded on exchanges, which are places where buyers and sellers meet and decide on a price.大部分股票都是在证券交易所交易,买卖双方在那儿搓合股票价格;5. The most important factor that affects the value of a company is its earnings. Earnings are the profit a company makes, and in the long run no company can survive without them.6. Stock prices change every day as a result of market forces. By this we mean that share prices change because of supply and demand. If more people want to buy a stock demand than sell it supply, then the price moves up.由于市场的原因股票价格每天都在变化,股票价格是由于供求关系的原因而变化的,如果买的人比卖的人多则股票价格上升;。

Chapter One Functions of Financial Markets 一．Translate the following sentences into Chinese.1.China’s banking industry is now supervised by the PBC and CBRC. In addition, the MOFis in charge of financial accounting and taxation part of banking regulation and management.目前中国银行业主要由中国人民银行和银监会进行监管。

此外，财政部负责银行业监管的财务会计及税收方面。

2.Currently Chinese fund management companies are engaged in the following business:securities investment fund, entrusted asset management, investment consultancy, management of national social security funds, enterprise pension funds and QDII businesses.目前中国的基金管理公司主要从事以下业务：证券投资基金业务、受托资产管理业务、投资咨询业务、社保基金管理业务、企业年金管理业务和合格境内机构投资者业务等。

3.China's economy had 10% growth rate in the years before the world financial crisisof 2008. That economic expansion resulted from big trade surpluses and full investment.Now China is seeking to move away from that growth model. The country is working to balance exports with demand at home.在2008年世界经济危机之前的那些年，中国经济增长速度曾达到10%。

UNIT1 EXERCISE 91.没有金融中介的行为，金融中介机构就无法存在。

Financial intermediaries could not exist without intermediation.2.所有的存款人在同一时间提取资金是极不可能的。

It is highly improbable that all depositors will withdraw funds at the same time.3.金融机构促使资金从货款人向借款人更为有效地流动。

Financial intermediaries facilitate a more efficient flow of funds from lenders to borrowers.4.这种利率的降低可能对一个国家的经济增长率和发展极为有利。

This lowering of interest rates would be highly beneficial to a country’s rate of economic growth and development.UNIT2 EXERCISE91.货币市场包括了一系列的市场，每个市场交易的是一种完全不同的金融工具。

The money market consists of a traders will sell at the highest price and buy at the lowest.2.可以理解的是，交易人要以最高价卖出而以最低价买入。

It is understandable that the traders will sell at the highest price and buy at the lowest.3.在交易室里，电话铃声从来不响，打进的电话是由闪烁的灯光来显示的。

In the trading room phones never ring. Instead, incoming calls are signaled by the blinking lights.4.参与交易的双方指示联储银行从一种客户的银行帐户上将资金划拨到另一方的银行帐户上。

金融英语句子翻译第一章1、Global competition has forced government to deregulate various aspects of their financial markets so that their financial enterprises can compete effectively around the world.全球竞争迫使政府在其金融市场的不同方面放松监管，使其金融市场在全球更具竞争力。

2、Unlike retail investors,institutional investors have been more willing to transfer funds across national borders to improve portfolio diversification and exploit perceived mispricing of financial assets in foreign countries.机构投资者与个人投资者不一样，他们更愿意在不同国家间转移资金来改善其组合的多元化，或者说利用其所觉察到的国外金融资产定价失误来谋利。

3、In some countries,large corporations seeking to raise a substantial amount of funds may have no choice in its domestic market but to obtain financing in either the foreign market sector of another country or the Euromarket.在一些国家里，有些大公司对资金的需求太大，国内市场无法提供，不得不向另外一些国家的外国市场或欧洲市场寻求融资。

4、Financial assets and tangible assets are linked.Ownership of tangible assets is financed by the issuance of some type of financial asset—either debt instruments or equity instruments.For example,a U.S.airline purchases a fleet of aircraft for$250million,suppose that a debt instrument is issued to raise the$250million.The cash flow from the passenger travel will be used to service the payments on the debt instrument.Ultimately,therefore,the cash flow for a financial asset is generated by some tangible asset.金融资产和有形资产是相关的。

“高职高专商务英语专业规划教材”Unit 1 Financial Market Research练习参考答案I.Read through the text and answer the following questions.1.A financial market is a mechanism that allows people to easily buy andsell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect the efficient-market hypothesis.2.The raising of capital ;the transfer of risk and international trade3.Capital markets,commodity markets,money markets, derivative markets,insurance markets and foreign exchange markets .4.Financial markets fit in the relationship between lenders andborrowers.5.Individuals, companies, governments, municipalities and publiccorporations.II. Paraphrase the following expressions or abbreviations and translate them into ChineseCheck the answers from the Special Term Lists.III. Fill in the blanks with the proper wordsThe global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems.On the one hand many people are concerned that those responsible for the financial problems are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints and concerns.IV.Translation.1.金融市场包括很多方面，包括资本市场，华尔街，甚至是市场本身。

Chapter 5 Central Bank1、A central bank,reserve bank,or monetary authority is the entity responsible for the monetary policy of a country or of a group of member states. It is a bank that can lend to other banks in times of need.Its primary responsibility is to maintain the stability of the national currency and money supply,but more active duties include controlling subsidized-loan interest rates,and acting as a lender of last resort to the banking sector during times of financial crisis.翻译：中央银行,储备银行或金融机构是一个负责一个国家或一个地区一组成员国的货币政策的机构。

银行贷款给其他银行,在需要的时候。

它首要的责任是要保持国家的货币和货币供应的稳定,也更积极向上的职责包括控制货币补贴利率,同时在银行业的金融危机中扮演着一个最后贷款人的身份。

2、The main functions of a central bank are implementing monetary policy ,controlling the nation’s entire money supply, the Government’s banker,and the banker’s bank, managing the country’s foreign exchange and gold reserves and the Government’s stock register,regulating and supervising the banking industry,setting the official interest rate—used to manage both inflation and the country’s exchange rate—and ensuring that this rate takes effect via a variety of policy mechanisms.翻译：中央银行的主要职能是贯彻货币政策，控制国家的整个货币供给, 政府的银行家,银行家的央行，管理国家的外汇和黄金储备，政府的股票注册，规范和监管银行业。

金融英语模拟题（一）Part 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 60789410B. Her account number is 60798410C. Her account number is 60798401D. Her account number is 6078914012.A. in the safeB. in the drawerC. on the deskD. in the box13.A. 1.89%B. 1.98%C. 8.19%D. none14.A. to open an account with the bankB. to exchange moneyC. to check if the remittance has arrivedD. to remit some money to her brother Tony Waller15.A. employee and bossB. broker and bank clerkC. two bank clerksD. bank clerk and customer16.A. 8 hoursB. 10 hoursC. 12 hoursD. 24hours17.A. one monthB. twelve monthsC. six monthsD. 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$ 24,580B. US$ 28,450C. US$ 45,280D. 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. threeB. fourC. fiveD. six22.A. one-dollar billB. five-dollar billC. ten-dollar billD. twenty-dollar bill23.A. by checks and fund transfersB. 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 ratesB. car loan ratesC. interest rates on many different types of bondsD. current interest ratesQuestions 27-30 are based on Passage 327.A. corporateB. interbankC. mortgageD. syndicate28.A. pay all attentions to a specific area of lendingB. 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. prudenceB. profitabilityC. liquidityD. safety30.A. to ensure healthy growth for the bankB. to outperform the competition in financial industryC. to make the profitsD. to achieve specific business targets。

金融市场的建立是通过一个想直接将投资提供给想借资金的人实现的。

在我们的经济中，两个最重要的金融市场是债券市场和股票市场。

当因特尔公司，电脑芯片的巨大的生产商，想融通资金来建立一个新的工厂，它能够直接从公众那筹资。

它通过发行债券。

一个债券是一个借据。

它定义了贷款将被归还的时间，叫做到期日，利率将被定期地偿付直到贷款还清。

债券的买家把他们的钱给因特尔公司用利率和资本做交换。

债券买家拿着债券直到到期日或者能够卖掉债券的最近时期卖给其他人。

因特尔公司为了建立一个新的半导体工厂的另一种筹集资金的方式是在公司售卖股票。

股票代表着个人的公司商号，因此，声称公司能创造利润。

举例，如果因特尔卖掉总计100万份额的股票每一份代表着100万分之一的交易。

金融中介机构的建立使得供给方能够直接地提供资金给借款方。

中介机构条款影响着供给方和借款方之间的建立制度。

2个最重要的中介机构是银行和共同基金。

银行是人们最熟悉的金融中介机构。

银行最基本的工作就是吸收来自人们的存款并且将这些存款去贷款给想借钱的人们。

银行付给存款人利息并且收取高额的贷款利息。

这俩者之间的利率差填补了银行的花费并且收回的利润是银行自己所得。

一个共同基金是一个建立通过售卖给公众一些份额并且用收入来买精选品，或者证券投资，各种类型的股票、债券、或者股票和债券的组合。

共同基金的份额持有者承担所有的风险并且收回有联系的证券投资。

如果证券投资的价值上升，份额持有者获益，如果下跌，则份额持有者遭受损失。

此外债券市场，股票市场，银行和共同基金也都是养老基金，信用合作社，保险公司甚至是当地放高利贷者。

这些金融机制都将服务于同一个目标，直接地储户的借款人手中的资源。

今天大部分国家都有一个独立的中央银行，即在防止政治干预的法规下还行的央行。

举例包括欧洲商业银行、美国联邦储备银行、澳大利亚中央银行、印度中央银行、英格兰银行和加拿大银行，等等。

一些央行是公众掌握的，其他的是私人拥有的。

Chapter1Ⅰ.1. Money and risk and how they are interrelated.2. Recently a number of websites have been created to give consumers basic price comparisons for services.3. Allows a company to determine how much credit it can extend to customers before it begins to have liquidity problems.4. refer to money used by entrepreneurs and businesses to buy what they need to make their products or provide their services or to that sector of the economy based on its operation, i.e., retail, corporate, investment banking.5. A new discipline that uses mathematical and statistical methodology to understand behavioral biases in conjunction with valuation.6. An area of finance dealing with the financial decisions corporations make and the tools and analysis used to make these decisions.7. A main branch of applied mathematics concerned with the financial markets.8. The application of the principles of finance to the monetary decisions of an individual or family unit.Ⅱ.1.maximize risks2. mathematics statistics3. money offering4. determine liquidity5. aggregates accepts6. economics behavioralⅢ.translate the following sentences into English.1.The commercial management is the important aspects of the business management，Do not have the appropriate financial plan, the enterprise is not likely to be successful.2. Financial institutions is the basic aim of the public welcome by the financial assets into they can accept financial assets.3. Enterprise management is risky, so financial manager must evaluate the risks and management.4. Investment decision first refers to the investment opportunity, often referring to capital investment projects.5. Cash budget is often used to assess whether is the enterprise have enough cash to maintain the daily operation of the enterprise operation and if there is too much cash surplus.6. According to the view of finance, capital is the enterprise to the purchase of goods to produce other goods or provide services of currencyⅣ. Translate the following sentences into chinese.1.现金预算非常重要,特别是为小型企业,因为它允许公司确定多少信用可以向客户开始之前就有流动性问题。

Unit 1Short DialogsMultiple ChoicesDialog 1W: Hi, Mike. Why do you look puzzled?M: I’ve learnt that there are four big commercial banks in your country.Would you please tell me what they are?W: Yes, it is a pleasure. They are Bank of China, China Construction Bank,Industrial and Commercial Bank of China and Agricultural Bank ofChina.M: So, does CCB refer to China Construction Bank?W: I don’t see any reason why not. You can simply call them respectivelyBOC, CCB, ICBC and ABC.Question: Which of the following is NOT among the four major commercial banks of China? (D) 译文女：你好！麦克。

为什么一脸困惑呀？男：我知道你们国家有四大商业银行，请你告诉我是哪几家，好吗？女：行，乐意效劳。

这四大商业银行是中国银行、中国建设银行、中国工商银行和中国农业银行。

男：所以CCB 是指中国建设银行吗？女：一点不错。

你可以简单地分别称它们BOC, CCB, ICBC 和ABC。

Dialog 2M: It is reported that some joint-stock banks have been established in severalmajor cities.W: Exactly. They are allowed to offer various banking services to individualsand businesses just as the four big commercial banks do.M: You said it. Can you tell me some joint-stock banks?W: It is no sweat. China Minsheng Banking Corp. Ltd., China Citic Bank,Industrial Bank Co., Ltd., and Guangdong Development Bank are all joint stockbanks.M: What about Shenzhen Development Bank?W: Of course it is one of them.Question: Which of the following is NOT mentioned in their conversation? (A)译文男：有报道说在一些大城市已经建立了数家股份制银行。

姓名_____________________ 学号：_____________________1. Complete each statement of the following with the best one:1. In order to facilitate purchases in the future, we require a commodity that can be used asA. a store of valueB. a legal tenderC. a medium of exchangeD. a standard of deferred payment2. Because of the functions of a store of value and a unit of account, a debt stated in dollars can be repaidA. with any commodities as you likeB. to meet the needs of the sellerC. in money at a later date plus interestD. at any time if we have the currency3. The extent to which money can be “socially acceptable” depends onA. the value of the commodity used as moneyB. people’s confidence in using or owning moneyC. what is selected as moneyD. standard of unit of value4. A government bond states the face value in terms of dollars and when the bond matures, the government paysthe bondholder the face value of the bond in dollars, which is the function of ____ of money.A. medium of exchangeB. a unit of accountC. store of valueD. standard of deferred payment5. If you want to store money for future purchases, you can __ unit there is a need.A. leave it in a bank accountB. exchange it for other types of commodityC. trade it for valuablesD. defer the payment6. The production of money should be restricted either through legislation or a limited supply because ____ ifanyone could produce money with little cost.A. it is not safe to have too much moneyB. money is too easy for people to produceC. money would lose its value as a medium of exchangeD. money would not be accepted universally7. The Fed places the MMDAs and MMMFs in ___ along with savings and time deposits in consideration ofthe two forms of money mainly used for savings and only secondarily for transactions.A. M1B. M2C. M3D. reserves8. Much attention is focused on the rate at which the money supply grows because money growth ___ inflation,unemployment, and general economic activity.A. determinesB. encouragesC. promotesD. influences9. Currency, coins, and demand deposit in commercial banks are used primarily for transactions or as _____A. a reserve of the loansB. a measure of money supplyC. a medium of exchangeD. a fixed asset10. ____ is the most closely watched of the three measures of the money supply.A. M1B. M2C. M3D. Ms11. Suppose a bank has a 10 percent reserve ratio, $5,000 in deposits, and it loans out all it can given the reserveratio.A. It has $50 in reserves and $4,950 in loans.B. It has $500 in reserves and $4,500 in loans.C. It has $555 in reserves and $4,445 in loans.D. None of the above is correct.12. The reserve ratio is 5 percent and a bank receives a new deposit of $500, this bankA. must increase its required reserves by $25.B. will initially see its total reserves increase by $500.C. will be able to make a new loan of $475.D. All of the above are true.13. When a bank loans out $100, the money supplyA. does not change.B. increases.C. decreases.D. may do any of the above.14. An open market saleA. increases the money supply.B. doesn't change the money supply.C. decreases the money supply.D. has an indeterminate effect on the money supply.15. The balance sheet for the following three questions.First Bank of ErehwonAssets LiabilitiesRequired Reserves $20.00 Deposits $100.00Loans $80.00⑴. The reserve ratio isA. zero percent.B. 20 percent.C. 80 percent.D. percent.⑵. If $1,000 is deposited into the First Bank of Erehwon,A. liabilities will decrease by $1,000.B. assets will increase by $1,000.C. total reserves will initially increase by $200.D. required reserves will increase by $800.⑶. If the reserve ratio is 12.5 percent, then $5,600 of money can be generated byA. $64 of new reserves.B. $448 of new reserves.C. $700 of new reserves.D. $800 of new reserves.16. Under a fractional-reserve banking system, banksA. hold more reserves than deposits.B. generally lend out a majority of the funds deposited.C. cause the money supply to fall by lending out reserves.D. All of the above are correct.17. When a bank loans out $1,000, the money supplyA. does not change.B. decreases.C. increases.D. may do any of the above.18. If the reserve ratio for all banks is 12.5 percent, then $2,000 of additional reserves can create up toA. $8,000 of new money.B. $16,000 of new money.C. $32,000 of new money.D. None of the above is correct.19. Banks act as intermediaries byA. bringing together car buyers and auto dealersB. bringing together real estate brokers and home buyersC. printing money for all to useD. serving the credit needs of borrowers and the security needs of saversE. selling shares of stock to investors20. Asymmetric information in financial markets exists whenA. teachers know more about banking than students doB. borrowers know more about their ability to repay loans than lenders doC. lenders know more about borrowers than borrowers know about themselvesD. borrowers pay off a loan before it is dueE. borrowers and lenders know more about banking than banks do21. Coins in the United States are manufactured and distributed by theA. FedB. U.S. MintC. U.S. TreasuryD. FBIE. Controller of the Currency22. If you returned a $5Federal Reserve note to the Fed, you could receiveA. $5 in silverB. $5 in goldC. 5 one-dollar billsD. 10 one-dollar billsE. a small gold bar23. If a bank has $6000 in checkable deposits and the required reserve ration is 0.2, then the bank can lendA. $4000B. $16000C. no more than $4800D. no less than $3000E.$100024. Suppose that a bank has $6000 in checkable deposits and the required ratio is 0.2. If the bank wishes to hold no excess reserves, its actual reserves will beA. $4000B. $1200C. $3000D. less than $1000E. $480025. Bank reserves can be held in the form ofA. loans and cash in the bank’s vaultB. loans and deposits with the FedC. loans and checking accountsD. deposits with the Fed and cash in the bankE. deposits with the Fed and checking accounts26. Suppose the required reserve ration is 0.1 and Linda deposits $4000 in cash at the College State Bank. If thebank held no excess reserves before Linda’s deposit and now increases its reserves by $500, which of the following is true?A. The bank must have lent out an additional $4000B. The $500 are required reservesC. The bank has excess reserves of $100D. Both the bank’s assets and its liabilities rise by $500E. The bank has $500 in excess reserves27. Suppose a commercial bank’s reserves increase by $3000 and the bank, which holds no excess reserves, makesa loan of $2400. What is the required ratio?A. 0.1B. 0.2C. 0.25D. 0.75E. 428. If the required ratio is 0.1 and the Fed buys a $5000 security from a depository institution, what happens to themoney supply?A. NothingB. It increases by $5000C. It decreases by $5000D. It increases by $50000E. It decreases by $5000029. The banking system creates money in the sense that itA. prints moneyB. creates excess reserves from loansC. creates loans from excess reservesD. creates required reserves from loansE. creates loans from required reserves30. If r is the required reserve ratio, which of the following is the simple money multiplier?A. rB. 1/(1-r)C. 1-rD. 1/rE. r231. If the simple money multiplier is 5, the required reserve ratio must beA. 5%B. 0C. 10%D. 50%E.20%32. The Fed’s sale of US government securities in open market operations constitutes aA. contractionary policy because it lowers the amount of total reserves in the banking systemB. contractionary policy because it lowers the amount of required reserves in the banking systemC. expansionary policy because it raises the amount of total and excess reserves in the banking systemD. expansionary policy because it raises the amount of excess reserves and lowers the amount of requiredreserves in the banking systemE. expansionary policy because it raises the amount of required reserves in the banking system33. The primary tool the Fed uses to control the money supply isA. the discount rateB. the required reserve ratioC. the discount windowD. charteringE. open market operations34. Decreasing the required reserve ratio isA. a contractionary policy because it lowers the amount of total reserves in the banking systemB. a contractionary policy because it lowers the amount of excess reserves in the banking systemC. an expansionary policy because it raises the amount of required reserves in the banking systemD. an expansionary policy because it raises the amount of total reserves in the banking systemE. an expansionary policy because it raises the amount of excess reserves in the banking systemPassage 1A credit card is a plastic card (or its equivalent) to be used upon presentation by the cardholder to obtain money, goods, or services, possibly under a line of credit established by the card issuer. The cardholder is billed for any outstanding balance.Credit card customers are given a credit limit on the credit card account and can buy goods services up to this amount. Normally, banks will set different credit lines for the different groups of cardholders. Every time cardholder uses a credit card for purchasing, he/she must sign a sales slip in the presence of the seller, and the signature is then compared to the signature on the card. Copies of the sales ships have the details of the card and they also show the details and amount of the sale.Each month the cardholder receives a statement from the bank which details all the transactions in the month, together with the total amount outstanding and any minimum amount that needs to be paid. When the full balance is not settled each month, the cardholder is charged a compound interest (say 0.05%) on the outstanding balance, and this is supposed to provide the bank with a main source of income (although in china, this revenue is still low because people are reluctant to run into debt). Other two major sources of credit card services are the annual fee from the cardholders and the percentage of the sales revenue as the commission paid by the seller.1. A credit card is a plastic card and the like to be used to obtain money, goods, or services and an overdraft is notallowed.A. RightB. WrongC. Doesn’t say2. Normally, banks will set different credit limits on different customers’ credit card accounts.A. RightB. WrongC. Doesn’t say3. Each month the credit cardholder will receive a statement from the bank showing the details of the transactionsexcluding the total amount outstanding.A. RightB. WrongC. Doesn’t say4. If the balance of the credit card is not fully settled, the cardholder will have to pay a compound interest on theoutstanding amount.A. RightB. WrongC. Doesn’t sayPassage 2Economists define money (or, equivalents, the money supply) as anything that is generally accepted inpayment for goods of services or in the payment of debts. Currency, which is dollar bills and coins, clearly fits this definition and is one type of money. When most people talk about “money”, they are talking about currency. To define money merely as currency is much too narrow for economist. Because checks are also accepted as payment for purchases, checking account deposits are considered money as well. An even broader definition of money is often needed because other items such as savings deposits can in effect function as money if they can be quickly and easily converted into currency or checking account deposits. As you can see, there is no single, precise definition of money or the money supply, even for economists.Whether money is shells or rocks or gold or paper, it has three primary functions in any economy: as a medium of exchange, a unit of account, and a store of value. Of the three functions, its function as a medium of exchange is what distinguished money from other assets such as stocks, bonds, and houses. In most all market transactions in our economy, money in the form of currency or checks is a medium of exchange; that is, it is used to pay for goods and services. The use of money a medium of exchange promotes economic efficiency by eliminating much of the time spent in exchanging goods and services. To see why, let’s look at a barter economy, one without money, in which goods and services are exchanged directly for other goods and services.5. In the viewpoint of economists, which of the following is wrong?A. Money is currency.B. Money means money supply.C. Checks are money in a narrow sense.D. Savings deposits can be considered as money in a narrow sense.6. Which of the following is true according to the passage?A. A check used to pay for goods and services is a medium of exchange.B. The use of money saves little time spent in exchanging goods and services.C. In a barter economy, people exchange their goods and services directly for what they want.D. Checking account deposits can’t be considered as money in a narrow sense.7. Which of the following is true in the eyes of most common people?A. Currency is money.B. Money means currency only.C. Dollar bills and coins are money, savings deposits as well.D. Checks are also money.8. “Barber” probably meansA. Goods in exchange for goods.B. Goods in exchange for services.C. Domestic trade.D. International trade.9. Which of the following title best suits the passage?A. Money and CurrencyB. Money and Its FunctionsC. The Value of MoneyD. Currency and Its Functions。

金融英语初级-1(总分：100.00，做题时间：90分钟)一、{{B}}Part One Listening{{/B}}(总题数：2，分数：10.00){{B}}Section One{{/B}} Directions: In this section, you will hear 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. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center. {{B}}Section One{{/B}} Directions: In this section, you will hear 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. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.（分数：5.00）A.$ 300 in traveler's checks, $ 200 in U.S. dollars.B.$ 200 in traveler's checks, $ 500 in U.S. dollars.C.$ 500 in traveler's checks, and the balance in U.S. dollars.D.$ 500 in traveler's checks, $ 200 in U.S. dollars. √解析：[听力原文] $ 500 in traveler's checks, $ 200 in U.S. dollars and the balance in Renminbi.A.The company's profits are far more than its losses. √B.The company has no losses.C.The company has no profits.D.The company has more losses than profits.解析：[听力原文] The company's profits greatly outweighed its losses.A.The interest rate for borrowing money is 6.5 percent.B.The interest rate for borrowing money has reached 7.5 percent. √C.The interest rate for borrowing money is 7.0 percent.D.The interest rate for borrowing money has decreased from 7.5% to 6.5%.解析：[听力原文] The interest rate for borrowing money has been raised from 6.5 percent to 7.5 percent.A.The shopkeeper didn't want to keep the goods for me.B.The shopkeeper promised to keep the goods for me, but I must leave a deposit. √C.Even if I left a deposit, the shopkeeper still didn't want to keep the goods for me.D.The shopkeeper was too busy to keep the goods for me.解析：[听力原文] The shopkeeper promised to keep the goods for me if I left a deposit.A.You can sign these checks if you are asked to do so.B.You shouldn't sign these checks.C.You may sign these checks on our behalf. √D.You haven't the right to sign these checks.解析：[听力原文] You may sign these checks on our behalf.（分数：5.00）A.Bank lends to those who want to lend.B.Bank borrows from those who want to lend. √C.Bank borrows from those who want to borrow.D.Bank can't lend money to people.解析：[听力原文] As a financial intermediary, the bank lends to those who want to borrow and borrows from those who want to lend.A.When a bank lends out money, it will not charge any interest to the customer.B.When a bank lends out money, it will charge interest to the customer. √C.When a bank lends out money, the borrower needn't return the money.D.When a bank borrows money than those who want to lend, it needn't pay anything.解析：[听力原文] Whenever a bank ]ends out money it will generally charge interest to the customer.A.The financial reporting is used to provide information useful for making investment and lending decision. √B.The financial reporting is useless.C.The financial repotting can't help people to decide whether they invest on something or not.D.The financial reporting has no objectives.解析：[听力原文] The primary objectives of financial reporting is to provide information useful for making investment and lending decisions.A.China wants to encourage competition from foreign financial institutions. √B.China can't expand the list of areas open to foreign banking establishment.C.China has to restrict the list of the areas open to foreign banking establishment.D.China failed to expand the list of the areas open to foreign banking establishment.解析：[听力原文] To encourage competition from foreign financial institutions, China has expanded the list of areas open to foreign banking establishments to include all large cities throughout the country.A.Cash is crucial to a country's economy.B.Money is crucial to a country's economy.C.Capital is crucial to a country's economy.D.Banks are crucial to a country's economy. √解析：[听力原文] Banks are crucial to a country's economy, they serve as the center point of the exchange of money throughout the economy.二、{{B}}Section Two{{/B}}(总题数：2，分数：10.00)Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and the question will be spoken only once. During the pause, you must read the four choices marked A, B, C, D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and the question will be spoken only once. During the pause, you must read the four choices marked A, B, C, D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.（分数：5.00）A.Tomorrow morning.B.This evening. √C.This afternoon.D.Tomorrow.解析：[听力原文] W: When can you have the agreement ready? M: We will get it ready this evening and sent it to your office for your signature tomorrow morning. Q: When is the agreement ready?A.The one - year plan.B.The three - month plan.C.The six - month or twelve - month plans. √D.The two - year plan.解析：[听力原文] W: What maturities are the most popular? M: Most of our customers use the six - or twelve - month plans. Of course, you may renew the certificate on maturity if you wish. Q: What maturities are the most popular?A.The minimum deposit reserve. √B.Adjusting the base interest rate.C.Regulating rediscounting.D.Open market operations.解析：[听力原文] W: What kind of monetary policy instruments may your bank use? M: They include adjusting the base interest rate, regulating, rediscounting, and open market operations. Q: Which of the following wasn't mentioned by the woman as a monetary policy?A.78507476.B.78107476.C.77007476.D.78007476. √解析：[听力原文] W: Excuse me, but may I ask your name and account number? M: Ah, I forgot to fill in. My name is Sully Thomas, my account number is 78007476. Q: What is his account number?A.RMB 10.B.RMB 2. √C.RMB 5.D.RMB 1.解析：[听力原文] W: Do you charge for cheeks? M: Yes, we do. Each check you write will cost RMB 2. Q: How much will it cost if you write a check?（分数：5.00）A.Dutch guilders. √B.Swiss francs.C.Euros.D.U.S. dollars.解析：[听力原文] W: What kind of currency do you want to change? M: Dutch guilders, please. Q: What kind of currency does the man want to change?A.RMB 1000.B.RMB 2000.C.RMB5000. √D.RMB500.解析：[听力原文] W: How much cash do you plan to deposit in your account? M: RMB 5000, please. Q: How much money does the man plan to deposit in his account?A.Almost 500.B.Almost 5100.C.Almost 5500.D.Almost 5000. √解析：[听力原文] W: Do you know how many Savings and Loan Associations there are in the United States? M: There are almost 5000. Q: How many Savings and Loan Associations are there in the United States?A.the market prices.B.the expansion of the bank.C.hiring new staff.D.the cost of the bank operation. √解析：[听力原文] W: Why is the increase in the cost as large as eighteen percent? M: It is partly because of the increase in staff numbers required to deal with the expansion of the bank's fee - generation activities. Q: What are they talking about?A.The unused balance can be transferred to Canada.B.The woman must pay postage and telegraphic fees.C.The woman needn't pay postage and telegraphic fees. √D.The handling charges are free.解析：[听力原文] W: When I leave China, would the unused balance be transferred to Canada? Am I supposed to pay any charges for such a transfer? M: It can be done and is free of any handling charges except for the out - of- pocket expenses, such as postage and telegraphic fees. Q: Which of the following is not true?三、{{B}}Section Three{{/B}}(总题数：1，分数：3.00)Directions: In this section you will hem' three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C, and D. Then hark the corresponding letter on the ANSWER SHEET with a single line through the center. {{B}}Passage One{{/B}}Directions: In this section you will hem' three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C, and D. Then hark the corresponding letter on the ANSWER SHEET with a single line through the center. {{B}}Passage One{{/B}}（分数：3.00）A.the cashier will give you a sales slipB.the cashier will check your I. DC.the cashier will examine the sales slip carefullyD.the cashier will scold you for not taking cash with you √解析：[听力原文]21-23 Suppose you buy something in a department store which has a pre - arrangement with the bank to accept credit cards for payment of goods or service. You hand in your credit card to the cashier, the cashier will give you a sales slip. You sign the sales slip, and give it back to the cashier. The cashier first checks your I. D. to make sure that you are the lawful holder and user of the credit card and then examines the sales slip carefully because details of each sale are provided on the sales slip. A part of the required information is hand - written and the remainder is obtained by processing the credit card and sales slip through an imprinter which is usually provided by the card issuing bank. 21. If you hand in your credit card to the cashier, which of the following won't the cashier do?A.the government of tile cityB.the card issuing bank √C.the department storeD.the management department解析：[听力原文] Who provided the imprinter?A.Details of each sale are provided on tile sales slip. √B.There are no details of each sale in the sales slip.C.There is no signature on the sales slip.D.There is no other information on the 'sales slip.解析：[听力原文] Which of the following is true?四、{{B}}Passage Two{{/B}}(总题数：1，分数：3.00)（分数：3.00）A.rent a houseB.borrow a houseC.housing mortgage √D.earn inure money解析：[听力原文]24-26 Many people want very much to improve their living conditions, but most people cannot pay all the money at one time. They may turn to a housing mortgage. With a mortgage, the purchasers needn't pay all the money for the house at one time. They just pay a certain amount first and they can move into the house. The purchasers pay the remaining amount each month until they pay all the money. This is actually purchasing by installments. When providing the housingmortgage, the banks hold the certificate of the house property in their hands. The hank will give it to the buyer when he pays all the money. So if the buyer doesn't pay the rest back, the bank can compel the buyer to leave because the house actually belongs to the bank since the bank holds the certificate of the house property. 24. If people can't pay all the money for their new house at one time, what should they turn to?A.After they hand in their certificate of the house property.B.After they pay a certain amount of money first. √C.After they have paid all the money for the house.D.After they have the certificate of the house property.解析：[听力原文] According to the passage, when can people move into the house?A.the owner of the houseB.the banks √C.their friendsD.the buyer of the house解析：[听力原文] When providing the housing mortgage, who hold the certificate of the house property in their hands?五、{{B}}Passage Three{{/B}}(总题数：1，分数：4.00)（分数：4.00）A.72% √B.73%C.79%D.82%解析：[听力原文]27-30 Lower prices might not be enough to change the attitudes of many analysts and fund managers. Even top - rated Shanghai Petrochemical, which reported a 72% increase in net profit for last year, has its detractors. Fanton Chuck, an analyst at Crosby Securities (HK) Ltd., thinks Shanghai Petrochemical is wasting up to 30% of the oil it buys, an amount that could prove crippling. "A decent California plant may experience a wastage rate of 4% to 5% (for oil) ," he says. "We classify Shanghai Petrochemical a short - term trading buy." If you're feeling adventurous, he explains, buy now but think about exiting if the share price rises 10%. 27. According to the report of the top - rated Shanghai Petrochemical, how much did it increase in net profit last year?A.Higher pricesB.Average pricesC.Fixed pricesD.Lower prices √解析：[听力原文] Which of the following might not be enough to change the attitudes of many analysts?A.40% to 50%B.5% to 6%C.4% to 5% √D.14% to 15%解析：[听力原文] What is the wastage rate a decent Caliafornia plant may experience?A.Shanghai Petrochemical is wasting up to 30% of the oil it buys.B.Shanghai Petrochemical is a long- term trading buy. √C.Shanghai Petrochemical is a short- term trading buy.D.Shanghai Petrochemical was top - rated last year.解析：[听力原文] According to Fanton Chuck, an analyst at Crosby Securities Ltd., which one is not true?六、{{B}}Part Two Reading{{/B}}(总题数：10，分数：10.00)1.During tile Great Depression, the four years from 1929 to 1933, unemployment ______ almost one fifth of the labor force in the industrial world.（分数：1.00）A.inducedB.afflicted √C.incurredD.affixed解析：2.The historic ______ ceiling is $ 940, but scarcity of resources has long limited access to IDA funds to countries with per capita incomes less than $ 580.（分数：1.00）A.paymentB.repaymentC.eligibility √D.demand解析：3.The IDA charges only three fourths of 1 percent as a service charge on ______ loan balances. （分数：1.00）A.debtB.outperformingC.outdoingD.disbursed √解析：4.To date, there have been no ______ on loans made by the World Bank.（分数：1.00）A.fraudB.cheatC.mistakesD.defaults √解析：5.Alternatively, ______ may lead to call for protection against foreign imports or capital controls to defend the exchange rate.（分数：1.00）A.debtsB.loansC.regulationD.deficits √解析：6.At such a price, the VCR ______ the cost of home movie watching.（分数：1.00）A.counteredB.slicedC.slashed √D.dived解析：7.Applicable to the entire World Bank Group is the ______ of most governmental borrowers for multinational loans.（分数：1.00）A.likeB.influenceC.affectD.preference √解析：8.A physical commodity that is valued in its own ______ and also used as a means of payment is commodity money.（分数：1.00）A.characterB.termC.normD.right √解析：9.The IFC's policy is to favor joint ventures that have some local capital ______ at the outset. （分数：1.00）A.initiatedmitted √memoratedmigled解析：10.The World Bank's efforts to direct its hard loans to private enterprise have created a record of decades of ______ lending.（分数：1.00）A.botched √B.misledC.distortedD.capital解析：七、{{B}}Section Two{{/B}}(总题数：5，分数：5.00)A.actedB.tookC.played √D.had解析：A.thatB.byC.and √D.with解析：A.seeB.face √C.meetD.solve解析：A.sinceB.asC.for √D.because解析：A.in √B.overC.forD.at解析：八、{{B}}Passage Two{{/B}}(总题数：5，分数：5.00)A.effectiveB.confidentC.proficientD.efficient √解析：A.aimsB.objectivesC.purposes √D.actions解析：A.flowB.productionC.formation √D.income解析：A.muchB.manyC.such √D.a number of解析：A.abilityB.capacity √petenceD.skills解析：九、{{B}}Section Three{{/B}}(总题数：3，分数：3.00)21.The buyer has to pay the seller fully in advance in this ease.（分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：22.Cash in advance applies when the manufacturing process or services delivered are labor intensive.（分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：23.The seller can deal with the funds before the shipment of the goods through cash in advance. （分数：1.00）A.A. Right√B.B. WrongC.C. Doesn't say解析：十、{{B}}Passage Two{{/B}}(总题数：3，分数：3.00)24.The beneficiary will have to comply with excessive details requested by the bank.（分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：25.The applicants sometimes provide short - term loans to the beneficiary.（分数：1.00）A.A. RightB.B. WrongC.C. Doesn't say√解析：26.Rough information is required to be contained by the applicants in the documentary credit. （分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：十一、{{B}}Passage Three{{/B}}(总题数：4，分数：4.00)27.Internet banking obscures the service boundaries of banks and therefore reduces the risks. （分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：28.With the advent of Web- based commerce, start - ups are not a threat to other companies. （分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：29.The worlds of banking have been made more complicated and uncertain because of the internet as an increasingly important commercial tool.（分数：1.00）A.A. Right√B.B. WrongC.C. Doesn't say解析：30.Internet banking can save banks' resources of human power and capital.（分数：1.00）A.A. Right√B.B. WrongC.C. Doesn't say解析：十二、{{B}}Section Four{{/B}}(总题数：5，分数：5.00)31.What will be introduced to improve the basis for the required reserves?（分数：1.00）A.The role of rediscount.B.The role of market adjustment.C.The concept of average balance. √D.Indirect policy instruments.解析：32.Why is flexibility needed in selecting modes of open market transactions?（分数：1.00）A.To improve the settlement and clearing system.B.To enhance the role of open market in guiding short - term interest rates. √C.To optimize the timing and scale of open market transactions.D.To increase transaction frequency.解析：33.In sequencing of interest rate liberalization ______.（分数：1.00）A.local currency interest rate policies will be reformed before those governing foreign currency rates.B.rural rate policies are reformed following those for urban financial institutions.C.bank lending rates arc reformed ahead of deposit rates. √D.All of the above.解析：34.There will be no control over retail deposit interest rates and a flexible management of large amount deposit interest rates.（分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：35.While expanding the scope of bills eligible for discount, the ceiling on discount interest rate will be, gradually increased in support of the market - based interest rate reform. （分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：十三、{{B}}Passage Two{{/B}}(总题数：5，分数：5.00)36.In what way do banks act as "market - makers" in foreign exchange markets?（分数：1.00）A.By buying foreign currencies.B.By quoting exchange rates to customers.C.By avoiding the risks of the market.D.Both A and B √解析：37.Excessive interest rate risk impacts ______.（分数：1.00）A.the earnings of a bank.B.economic value of a bank's assets.C.capital base of a bank.D.All of the above. √解析：38.How many forms of interest rate risk were mentioned?（分数：1.00）A.5B.3C.2D.4 √解析：39.Running open foreign exchange positions is ______, especially during periods of instability in exchange rates.（分数：1.00）A.of law riskB.of high risk √C.of no riskD.visible解析：40.Repricing risk comes from ______.（分数：1.00）A.changes in the slope and shape of the yield curve.B.the express or implied options imbedded in many bank assets, liabilities and off- balance sheet portfolio.C.timing differences in the maturity and repricing of bank assets, liabilities and off- balance sheet positions. √D.None of the above.解析：十四、{{B}}Passage Three{{/B}}(总题数：5，分数：5.00)41.What does liquidity squeeze mean?（分数：1.00）A.There is enough available cash.B.There is a shortage of cash and liquid assets. √C.Liquid asset can be obtained from different sources.D.Banks don't have to worry.解析：42.How may banks provide for liquidity?（分数：1.00）A.By reserving cash.B.By stopping borrowing money.C.By drawing new deposits.D.Both A and C √解析：43.Why is it necessary for banks to maintain adequate liquidity?（分数：1.00）A.To meet the demand for withdrawals from deposits.B.To fulfill promises to lend at a specific time.C.To prepare for inter- bank settlements.D.All of the above. √解析：44.The higher the level of liquidity a bank maintains, the more, profit the bank can gain. （分数：1.00）A.A. RightB.B. Wrong√C.C. Doesn't say解析：45.What is the minimum liquidity ratio a bank is required to have?（分数：1.00）A.25 % per year.B.25 % in each calendar month. √C.the stun of liquefiable assets and qualifying liabilities.D.unspecified.解析：十五、{{B}}Passage Four{{/B}}(总题数：5，分数：5.00)46.To prevent money laundering, ______.（分数：1.00）A.banks need an effective audit.B.banks need to focus mi "know- your- customer" policies.C.banks need to detect and report suspicious transactions.D.Both B and C √解析：47.Which of the following is not correct?（分数：1.00）A.Internal controls must be supported by an effective audit function.B.In case of internal control weakness identified by auditors, management needs to take appropriate corrective action.C.Banking supervisors must ensure that banks only observe banking laws and regulations. √D.Sound internal controls and strong risk management practices are critical for the safe and sound operation of banking organizations.解析：48.To a banking organization, effective risk management and internal control can help ensure ______.（分数：1.00）A.that the bank will achieve long- term profitability targets.B.that the risks are identified and under control.C.that the bank will comply with relevant laws and regulations.D.All of the above. √解析：49.The function of an effective and it is ______.（分数：1.00）A.to decrease the risk of unexpected losses or damage to the bank's reputations.B.to help file bank achieve long - term profitability targets.C.to independently assess the adequacy, operational effectiveness and efficiency of the control systems within an organization. √D.All of the above.解析：50.Internal control consists of ______.（分数：1.00）A.management control.B.risk identification.C.correction of deficiencies.D.All of the above. √解析：十六、{{B}}Part Three Writing{{/B}}(总题数：1，分数：5.00)（分数：5.00）__________________________________________________________________________________________ 正确答案：()解析：① Application: The remitter applies to the bank for remittance by M/T. ② Sending Instructions of payment: The remitting bank sends instructions to the paying bank by airmail asking the latter to make the payment. ③ Sending Advice of Drawing: The paying bank sends tile advice of drawing to tile payee. ④ Drawing Money: The payee draws the money from the paying bank. ⑤ Making Payment: The paying bank pays money to the payee.十七、{{B}}Section Two{{/B}}(总题数：1，分数：5.00)52.China will continue to pursue a sound monetary policy, and seek refinements in the conduct of monetary policy by relying mainly on indirect policy instruments. First, open market operations will be expanded, and tile quality of the relevant decision - making will be improved to optimize the timing and scale of open market transactions. Transaction frequency will be increased and fine - turning measures will be taken as the occasion warrants.（分数：5.00）__________________________________________________________________________________________ 正确答案：()解析：中国将继续完善货币政策，在主要依靠间接政策工具执行货币政策方面做细致的工作。