中级口译教程Model Test M1～M13分析中级口译教程M1E1gracious invitation 盛情邀请heartwarming 暖心的When the visitor arrives, it is as if returning home. 宾至如归。
joint venture 合资企业gained and profited 获利的中级口译教程M1E2the restructuring of the group’s organization 集团组织的重建give rise to the problem of … 引发…的问题relocate the new group 为新的集团选择所在地head offices 总部机构recommend 推荐，意见中级口译教程M1C1上有天堂，下有苏杭Just as there is a paradise in Heaven, there are Suzhou and Hangzhou on earth.毫无夸张之意be no exaggeration苏杭这两座邻近上海的历史名城以其秀丽的景色每年吸引了数以百万计的海内外游客。
The scenic beauty of this two historic cities near Shanghai attract millions of tourists from home and abroad every year.迷人的苏州造景园林charming Suzhou landscape garden中国南方园林建筑艺术的典范the typical of Chinese southern garden architecture造就了无数自然景观create numerous natural landscape给游客带来了如诗般的意境bring the tourists a poetic mood苏州观光的必游之地 a must for tourists visiting Suzhou中级口译教程M1C2尤为引人注目particularly spectacular逐渐形成…with … coming into shape崛起rising黄金宝地most valuable place海外投资热点 a hot destination of overseas investment璀璨的东方明珠brilliant oriental pearl独特的魅力unique charm富有远见卓识的…… with broad vision金融家financiers企业家entrepreneurs大展宏图readily materialize one’s ambitions中级口译教程M2E1act according to the principle of … 遵循…的原则mutual respect and mutual benefit 互相尊重，互惠互利dignity and fairness 尊严与公平fundamental interest 根本利益ambitious undertaking 雄心勃勃的伟业great endeavor 伟大的事业中级口译教程M2E2two roughly symmetrical hemisphere 两个大致相称的半球be comparable in … 在…方面相近i.e. 也就是说spatial 空间的musical perception 对音乐的感知sophisticated cognitive abilities 复杂的认知能力中级口译教程M2C1上海联华制衣公司Shanghai Lianhua Garment Manufacturing Company 海外营销部Overseas Marketing Department进行业务洽谈have business talk with sb.建立公司海外销售网the establishment of overseas marketing network请多多指教。
扬州大学2024年硕士研究生招生考试初试试题（A卷）科目代码211科目名称翻译硕士英语满分100分注意：①认真阅读答题纸上的注意事项；②所有答案必须写在答题纸上，写在本试题纸或草稿纸上均无效；③本试题纸须随答题纸一起装入试题袋中交回！Section One Vocabulary and StructureDirections:In this part,there are30incomplete sentences.For each sentence there are four choices marked[A],[B],[C]and[D].Choose the ONE that best completes the sentence and then write your answers on the ANSWER SHEET.(30points,1point each)1.They want a warning by the United States to Japan that any move against the British in Asiameans war with us.Their empire is mighty rickety at this point.They hope such a warning will________.[A]cover it up[B]shore it up[C]make it up[D]give it up2.In an odd way the two leaders________each other.They were both Number One Men.Butthat was impossible.Who,then,was Number One?[A]finished[B]relinquished[C]extinguished[D]diminished3.The doctor told me that I had to______alcohol otherwise I would get into trouble.[A]cut in[B]cut off[C]cut out[D]cut up4.I________to say something of the kind to her,when she laughed at my clumsy complimentand said I had better take to writing fashion articles instead of political leaders.[A]refused[B]ventured[C]tortured[D]fractured5.The coasts remind me of people;either they are forbidding and________,or else theypresent no mystery and show all they have to give at a glance.[A]unapproachable[B]unavoidable[C]uncomfortable[D]unyielding6.I like also the________information which he imparts from time to time without insistence;he has traveled much,and has used his eyes and kept his ears open.[A]out-of-the-way[B]in-the-way[C]by-the-way[D]on-the-way7.She had lived to be very old and at last________.Her only living daughter was with herwhen she died,and I was told that in death her face was that of a child.[A]energetic[B]infirm[C]miserable[D]panic8.There are things in nature that________an awful quiet in the heart of man.[A]engender[B]endanger[C]enact[D]enforce9.Doubtless some instinct impels me________to cram these the last weeks of my life with thegentler things I never had time for,releasing some suppressed inclination which in fact wasalways latent.[A]gluttonously[B]glutinously[C]autonomously[D]anonymously10.As the hurricane________northward across Mississippi,it dropped more than28inches ofrain into West Virginia and Southern Virginia.[A]raked its way[B]found its way[C]pushed its way[D]cut its way11.When you were playing for the highest________,you made the highest bid.[A]flakes[B]stakes[C]mistakes[D]brakes12.“I told you—Cut it out!”The words spat forth with sudden savagery,all pretense of________gone.[A]fierceness[B]shrewdness[C]happiness[D]blandness13.Some people do well in IQ test,scoring much higher above the mean value of100,but havecontributed________to the intellectual and cultural life of the society.[A]disproportionately[B]unconsciously[C]indefinitely[D]unaccountably14.Such literary and cultural richness offers a________of this city’s long history.[A]gaping[B]gazing[C]glimpse[D]glance15.A special commission will be set up within three months to study the question of how to________historical houses in the city.[A]conserve[B]deserve[C]preserve[D]reserve16.Trying to________the best course of action,he talked with his father and mother.[A]draw out[B]take out[C]get out[D]reason out17.It would be wrong to always adopt a(n)________attitude towards their errors orshortcomings.[A]empathetic[B]conscientious[C]accommodating[D]passionate18.Apart from his regular salary,he also received________income from nonemploymentsources,such as rent,pensions,and interest.[A]mellifluous[B]meticulous[C]mischievous[D]miscellaneous19.The precious manuscripts were hopelessly________by long exposure in the cold,dampcellar.[A]ruined[B]damaged[C]destroyed[D]contaminatedernment-funded training and free back-to-school programs for laid-off workers are________,but few experts believe they will be able to keep up with the pace of the new technology.[A]in effect[B]under way[C]on the go[D]in accord21.There could be other________...and now was the time to consider them.Traveling bysecondary roads would be difficult without knowing the terrain.[A]complications[B]modifications[C]creations[D]gratificationsughter does produce short-term changes in the function of the heart and its blood vessels,________heart rate and oxygen consumption,but it is actually hard to bring about the same benefits as the way,say,walking or jogging does.[A]alleviating[B]boosting[C]impairing[D]stabilizing23.I tried to relax because I knew I would use up my oxygen sooner________.[A]the more excited I got[B]I got excited more[C]and more I got excited[D]and I got more excited24.By2050the world will have about2billion people aged over60,three times________today.[A]as many as[B]as much as[C]as that of[D]as those of25.The revolutionary fighter would rather die with his head high than________with his kneesbent.[A]to live[B]living[C]live[D]lived26.________they must learn in a course is not provided in the classroom.[A]Many things[B]All in which[C]Much of what[D]All of which27.Her terror was so great________somewhere to escape,she would have run for her life.[A]only if there had been[B]that there had only been[C]that had there only been[D]if there was only28.It is encouraging to note that in recent years,cigarette smokers have been________thedecline,especially among older people.[A]in[B]on[C]off[D]by29.For my own part,it seems that the main requirement of an international language,be itanalytic or synthetic,is that it________.[A]would be easily learned[B]is easily learned[C]will be easily learned[D]be easily learned30.He had been searching in the antique market for a week and finally found for him a________wooden writing desk.[A]little pretty Chinese square old black[B]pretty little Chinese square old black[C]pretty little square old black Chinese[D]old black pretty Chinese little squareSection Two Reading ComprehensionPart One:Multiple ChoiceDirections:In this part,there are three passages.Each passage is followed by some questions or unfinished statements.For each of them there are four choices marked[A],[B],[C]and[D]. Read the passages carefully and then decide on the BEST choice.Write your answers on the ANSWER SHEET.(24points,2points each)Passage OneI remember meeting him one evening with his pushcart.I had managed to sell all my papers and was coming home in the snow.It was that strange hour in downtown New York when the workers were pouring homeward in the twilight.I marched among thousands of tired men and women whom the factory whistles had unyoked.They flowed in rivers through the clothing factory districts,then down along the avenues to the East Side.I met my father near Cooper Union.I recognized him,a hunched,frozen figure in an old overcoat standing by a banana cart.He looked so lonely,the tears came to my eyes.Then he saw me,and his face lit with his sad,beautiful smile—Charlie Chaplin’s smile.“Arch,it’s Mikey,”he said.“So you have sold your papers!Come and eat a banana.”He offered me one.I refused it.I felt it crucial that my father sell his bananas,not give them away.He thought I was shy,and coaxed and joked with me,and made me eat the banana.It smelled of wet straw and snow.“You haven’t sold many bananas today,pop,”I said anxiously.He shrugged his shoulders.“What can I do?No one seems to want them.”It was true.The work crowds pushed home morosely over the pavements.The rusty sky darkened over New York building,the tall street lamps were lit,innumerable trucks,street cars and elevated trains clattered by.Nobody and nothing in the great city stopped for my father’s bananas.“I ought to yell,”said my father dolefully.“I ought to make a big noise like other peddlers, but it makes my throat sore.Anyway,I’m ashamed of yelling,it makes me feel like a fool.”I had eaten one of his bananas.My sick conscience told me that I ought to pay for it somehow.I must remain here and help my father.“I’ll yell for you,pop,”I volunteered.“Arch,no,”he said,“go home;you have worked enough today.Just tell momma I’ll be late.”But I yelled and yelled.My father,standing by,spoke occasional words of praise,and said I was a wonderful yeller.Nobody else paid attention.The workers drifted past us wearily, endlessly;a defeated army wrapped in dreams of home.Elevated trains crashed;the CooperUnion clock burned above us;the sky grew black,the wind poured,the slush burned through our shoes.There were thousands of strange,silent figures pouring over the sidewalks in snow.None of them stopped to buy bananas.I yelled and yelled,nobody listened.My father tried to stop me at last.“Nu,”he said smiling to console me,“that was wonderful yelling.Mikey.But it’s plain we are unlucky today!Let’s go home.”I was frantic,and almost in tears.I insisted on keeping up my desperate yells.But at last my father persuaded me to leave with him.1.The word“unyoked”in the first paragraph describes the city workers’________.[A]eagerness to go home[B]passivity and coldness[C]harsh living situation[D]happiness of release from work2.Which of the following is intended to be a pair of contrast in the passage?[A]Huge crowds and lonely individuals.[B]Weather conditions and street lamps.[C]Clattering trains and peddlers’yells.[D]Moving crowds and street traffic.3.Which of the following statements is NOT suitable to describe the character of the son?[A]He is compassionate towards people around him,not only his father.[B]He feels a strong sense of responsibility for his father’s duty.[C]He is shy in yelling to sell bananas.[D]He is quite determined and loving.4.What is the main theme of the story?[A]The misery of the factory workers.[B]The difficulties to survive in a harsh environment.[C]Generation gap between the father and the son.[D]Love between the father and the son.Passage TwoFrom the health point-of-view we are living in a marvelous age.We are immunized from birth against many of the most dangerous diseases.A large number of once fatal illnesses can now be cured by modern drugs and surgery.It is almost certain that one day remedies will be found for the most stubborn remaining diseases.The expectation of life has increased enormously.But though the possibility of living a long and happy life is greater than ever before,every day we witness the incredible slaughter of men,women and children on the roads.Man versus the motor-car!It is a never-ending battle which man is losing.Thousands of people the world over are killed or horribly killed each year and we are quietly sitting back and letting it happen.It has been rightly said that when a man is sitting behind a steering wheel,his car becomes the extension of his personality.There is no doubt that the motor-car often brings out a man’s very worst qualities.People who are normally quiet and pleasant may become unrecognizable when they are behind a steering-wheel.They swear,they are ill-mannered and aggressive,willful as two-year-olds and utterly selfish.All their hidden frustrations,disappointments and jealousies seem to be brought to the surface by the act of driving.The surprising thing is that society smiles so benignly on the motorist and seems to condone his behavior.Everything is done for his convenience.Cities are allowed to become almost uninhabitable because of heavy tragic;towns are made ugly by huge car parks;the countryside is desecrated by road networks;and the mass annual slaughter becomes nothing more than a statistic,to be conveniently forgotten.It is high time a world code were created to reduce this senseless waste of human life.With regard to driving,the laws of some countries are notoriously lax and even the strictest are not strict enough.A code which was universally accepted could only have a dramatically beneficial effect on the accident rate.Here are a few examples of something that might be done.The driving test should be standardized and made far more difficult than it is;all the drivers should be made to take a test every three years or so;the age at which young people are allowed to drive any vehicle should be raised to at least21;all vehicles should be put through stringent annual tests for safety.Even the smallest amount of alcohol in the blood can impair a person’s driving ability.Present drinking and driving laws(where they exist)should be made much stricter.Maximum and minimum speed limits should be imposed on all ernments should lay down safety specifications for manufacturers,as has been done in the USA.All advertising stressing power and performance should be banned.These measures may sound inordinately harsh.But surely nothing should be considered as too severe if it results in reducing the annual toll of human life.After all,the world is for human beings,not for motor-cars.5.The main idea of this passage is________.[A]Traffic accidents are mainly caused by motorists[B]Thousands of people the world over are killed each year[C]The laws of some countries about driving are too lax[D]Only stricter traffic laws can prevent accidents6.What does the author think of society toward motorists?[A]Society smiles on the motorists.[B]Victims of accidents are nothing.[C]Society condones their rude driving.[D]Huge car parks are built in the cities and towns.7.What does the author mean by“his car becomes the extension of his personality”?[A]Driving can show his real self.[B]Driving can show the other part of his personality.[C]Driving can bring out his character.[D]His car embodies his temper.8.Which of the followings is NOT mentioned as a way against traffic accidents?[A]Build more highways.[B]Stricter driving tests.[C]Test drivers every three years.[D]Raise age limit and lay down safety specifications.Passage ThreeThe first clue came when I got my hair cut.The stylist offered not just the usual coffee or tea but a complimentary nail-polish change while I waited for my hair to dry.Maybe she hoped this little amenity would slow the growing inclination of women to stretch each haircut to last four months while nursing our hair back to whatever natural colour we long ago forgot.Then there was the appliance salesman who offered to carry my bags as we toured the microwave aisle.When I called my husband to ask him to check some specs online,the salesman offered a pre-emptive discount,lest the surfing turn up the same model cheaper in another store. That night,for the first time,I saw the Hyundai ad promising shoppers that if they buy a car and then lose their job in the next year,they can return it．Suddenly everything’s on sale.The upside to the economic downturn is the immense incentive it gives retailers to treat you like a queen for a day.During the flush times,salespeople were surly, waiters snobby.But now the customer rules,just for showing up.There’s more room to stretch out on the flight,even in a coach.The malls have that serene aura of undisturbed wilderness,with scarcely a shopper in sight.Every conversation with anyone selling anything is a pantomime of pain and bluff.Finger the scarf,then start to walk away,and its price floats silkily downward.When the mechanic calls to tell you that brakes and a timing belt and other services will run close to$2,000, it’s time to break out the newly perfected art of the considered pause.You really don’t even have to say anything pitiful before he’ll offer to knock a few hundred dollars off.Restaurants are also caught in a fit of ardent hospitality,especially around Wall Street:Trinity Place offers$3drinks at happy hour any day the market goes down,with the slogan“Market tanked?Get tanked!”—which ensures a lively crowd for the closing bell.The“21”Club has decided that men no longer need to wear ties,so long as they bring their wallets.Food itself is friendlier:you notice more comfort food,a truce between chef and patron that is easier to enjoy now that you can get a table practically anywhere.New York Times restaurant critic Frank Bruni characterizes the new restaurant demeanor as“extreme solicitousness tinged with outright desperation.”“You need to hug the customer,”one owner told him.There’s a chance that eventually we’ll return all this kindness with the extravagant spendingthat was once decried but now everyone is hoping will restart the economy.But human nature is funny that way.In dangerous times,we clench and squint at the deal that looks too good to miss, suspecting that it must be too good to be true.Is the store with the super cheap flat screens going to go bust and thus not be there to honor the“free”extended warranty?Is there something wrong with that free cheese?Store owners will tell you horror stories about shoppers with attitude,who walk in demanding discounts and flaunt their new power at every turn.These store owners wince as they sense bad habit forming:Will people expect discounts forever?Will their hard-won brand luster be forever cheapened,especially for items whose allure depends on their being ridiculously priced?There will surely come a day when things go back to“normal”;retail sales even inched up in January after sinking for the previous six months.But I wonder what it will take for US to see those $545Sigerson Morrison studded toe-ring sandals as reasonable?Bargain-hunting can be addictive regardless of the state of the markets,and haggling is a low-risk,high-value contact sport.Trauma digs deep into habit,like my85-year-old mother still calling her canned-goods cabinet“the bomb shelter.”The children of the First Depression were saving string and preaching sacrifice long after the skies cleared.They came to be called the“greatest generation”.As we learn to be decent stewards of our resources,who knows what might come of it?We have lived in an age of wanton waste,and there is value in practicing conservation that goes far beyond our own bottom line.9．According to the passage,what does“the first clue”suggest?[A]Shops try all kinds of means to please customers.[B]Shops,large or small,are offering big discounts.[C]Women tend to have their hair cut less frequently.[D]Customers refrain from buying things impulsively.10.Which of the following best depicts the retailers now?[A]Bad-tempered.[B]Highly motivated.[C]Over friendly.[D]Deeply frustrated.11.What does the author mean by“the newly perfected art of the considered pause”?[A]Customers now rush to buy things on sale.[B]Customers have got a sense of superiority.[C]Customers have learned how to bargain.[D]Customers have higher demands for service.12.What is the main idea of the last two paragraphs?[A]Extravagant spending would boost economic growth.[B]One’s life experience would turn into lifelong habits.[C]Customers should expect discounts for luxury goods.[D]The practice of frugality is of great importance.Part Two:Answer the QuestionsDirections:In this part,you are going to read one passage.Read the passage carefully and then answer the questions following the passage.Write your answers on the ANSWER SHEET.(16 points,4points each)When I meet people for the first time,they sometimes quote back to me a line in my speech at the2004Democratic National Convention that seemed to strike a chord:“There is not a black America and white America and Latino America and Asian America—there’s the United States of America.”For them,it seems to capture a vision of America finally freed from the past of Jim Crow and slavery,Japanese internment camps and Mexico braceros,workplace tensions and cultural conflict—an America that fulfills Dr.King’s promise that we be judged not by the color of our skin but the content of our character.In a sense,I have no choice but to believe in this vision of America.As the child of a black man and a white woman,someone who was born in the racial melting pot of Hawaii,with a sister who’s half Indonesian but who’s usually mistaken for Mexican or Puerto Rican,and a brother-in-law and niece of Chinese descent,with some blood relatives who resemble Margaret Thatcher and others who could pass for Bernie Mac,so that family get-togethers over Christmas take on the appearance of a UN General Assembly meeting,I’ve never had the option of restricting my loyalties on the basis of race,or measuring my worth on the basis of tribe.Understanding this reality requires a reminder of how we arrived at this point.As William Faulkner once wrote,“The past isn’t dead and buried.In fact,it isn’t even past.”We do not need to recite here the history of racial injustice in this country.But we do need to remind ourselves that so many of the disparities that exist between the African-American community and a larger American community today can be traced directly to inequalities passed on from an earlier generation that suffered under the brutal legacy of slavery and Jim Crow.Segregated schools were,and are,inferior schools;we still haven’t fixed them,fifty years after Brown vs.Board of Education,and the inferior education they provided,then and now,helps explain the pervasive achievement gap between today’s black and white students.Moreover,I believe that part of America’s genius has always shown its ability to absorb newcomers,to forge a national identity out of the disparate lot that arrived on our shores.In this we’ve been aided by a Constitution that—despite being marred by the original sin of slavery—has at its very core the idea of equal citizenship under the law;and an economic system that,more than any other,has offered opportunity to all comers,regardless of status or title or rank.Of course, racism and nativist sentiments have repeatedly undermined these ideals;the powerful and the privileged have often exploited or stirred prejudice to further their own ends.But in the hands of reformers,from Tubman to Douglass to Chavez to King,these ideals of equality have gradually shaped how we understand ourselves and allowed us to form a multicultural nation the like of which exists nowhere else on earth.Questions:13.What is the main theme of the speech?14.Why does the speaker say that his family together is like UN General Assembly?15.Why does the speaker think it important to form a multicultural nation?16.What are the possible major factors that have led to so many disparities between theAfrican-American community and a larger American community today?Section Three WritingDirections:The revolutionary online application ChatGPT has brought immense concerns to the education field.Foreign language teachers were among the most anxious,exacerbated by the extensive media coverage buzzing about its capabilities.Some teachers and educational administrators see ChatGPT as opening Pandora’s box,posing threats to students’development of critical thinking and writing abilities.Some argue that ChatGPT offers major opportunities for teachers and learners to improve second/foreign language teaching and learning,especially towards a more personalized learning experience.Thus,how the chatbot can be harnessed by learners and teachers become a question.Write a composition of about400words on the topic of “My attitude towards the use of ChatGPT in English learning”.You may use a subtitle to guide your writing.Write your answer on the ANSWER SHEET.(30points)Note:In the first part of your writing you should state clearly the thesis statement(i.e.,your main argument), and in the second part you should support your argument with appropriate details.In the last part you should bring what you have written to a natural conclusion or a summary.Marks will be awarded for content, organization,grammar and appropriateness.Failure to follow the above instructions may result in a loss of marks.。
金融时间序列分析英文试题（芝加哥大学）（3）Graduate School of Business,University of ChicagoBusiness41202,Spring Quarter2005,Mr.Ruey S.TsaySolutions to MidtermAll tests are based on the5%signi?cance level.Problem A:(30pts)Answer brie?y the following questions.1.For problems1to6,consider the daily log return,in percentages,of the S&P500composite index from January1996to December31,2004for2267data points.Sum-mary statistics of the percentage log returns from SCA and Splus are attached.See Page 1of the attached output.Is the mean of percentage log returns signi?cantly di?erent from zero?Why?A:t-ratio=1.187<1.96.Thus,the mean return is not signi?cantly di?erent from zero.2.Suppose one invested$1dollar on the S&P500index at the very beginning of1996andheld the investment until the end of2004.What was the value of the investment at the market closing on December31,2004?A:total log return=0.0299*2267/100=0.67783so that the value=exp(0.67783)≈1.97.3.Test the null hypothesis that the skewness of the log returns is zero.Draw your conclu-sion.A:t-ratio=?0.0939/0.0514=?1.83<1.96so that the skewness is no signi?acnt di?erent from zero.4.Given that the last percentage log return was?0.134(i.e.T=December31,2004),which is the corresponding simple return?A:R t=exp(?0.134/100)?1=?0.001339=.1339%.5.Are the log return serially correlated?You may use Q(10)of the series to answer thequestion.A:Q(10)=13.9with p-value0.178so that there is no serial correlation.6.Is there any ARCH e?ect in the log return series?You may use Q(12)of the squaredseries to answer the question.A:Yes,Q(12)of squared return is large at490(in SCA)and has a p-value of0.0from Splus.7.Give two empirical features of daily log returns of a?nancial asset.A:Any two of(a)high kurtosis,(b)volatility clustering,(3)skew to left.18.What is the purpose of studying kurtosis of an asset return series?A:Understanding the tail behavior(or risk)of the return.9.Describe two applications of studying sample autocorrelation function(ACF)of an assetreturn series.A:(a)To test serial correlations in the return series,(b)to identify MA order.10.Describe two methods that can be used to identify the order of an AR model.A:(a)PACF,(b)Criterion functions such as AIC or BIC.11.Consider the AR(1)model(1?0.9B)r t=0.2+a t,where{a t}is an independent andidentically distributed random variables with mean zero and variance1.0.What is the half-life of the series?A:Half-life=ln(0.5)/ln(0.9)=6.58time units.12.Suppose that the log return r t of an asset follows the model below:r t=0.02+a t,a t=σt t,σ2t=0.116+0.42a2t?1.Let p t be the log price of the asset at time t and p T( )be the -step ahead forecast of the log price at the forecast origin T.Then,what is the value of p T( )as increases?A:0.02is the slope of time trend so that p T( )→∞as increases.13.For problems13-14,consider quarterly series of U.S.unit labor cost from1947to2004.The data were seasonally adjusted and obtained from the Federal Reserve Bank of St Louis.Let x t=(1?B)ULC t be the?rst-di?erenced series of the data at time t.The model(1?0.371B2)x t=0.265+(1+0.171B4)a t,σa=0.5998,?ts the data reasonably well.Under the?tted model,what is the mean of x t,i.e.E(x t) =?A:E(x t)=0.265/(1?0.371)=0.421.14.Does the model imply that there exist business cycles in the unit labor cost?Why? A:No,because the two roots are real.From1?0.371x2,we have x=±1/ (0.371).15.Give two weaknesses of the GARCH-type of models for modeling asset volatility.A:Any two of(a)symmetric response to past positive and negative returns,(b)restric-tive,(c)providing no explanation of volatility clustering,(d)no adaptive in forecasting.2Problem B.(20pts)This problem is concerned with theanalysis of quarterly earnings per share of the Procter&Gamble(PG)Company from1992to the?rst quarter of2003 for45data points.The data were obtained from First Call.Log transformation was taken to stabilize the variability of the /doc/889308787.html,puter output is attached;p.2-6of output. Due to strong seasonal pattern,which results in models that are close to being non-invertible, we analyze the seasonally di?erenced series in Splus.Let x t be the logarithm of quarterly earnings per share and w t=(1?B4)x t.Thus,SCA uses x t and Splus uses w t.1.(5points)Because ACF of the log earnings shows strong seasonal pattern,the seasonaldi?erence(1?B4)is taken.The ACF of the seasonally di?erenced data indicates no further di?erencing is necessary.Write down the?tted model for the x t series(not the di?erenced w t).A:(1?0.47B)(1?B4)x t=0.0508+(1?0.307B4)a t,σa=0.0502.2.(4points)Is the AR coe?cient of the?tted model statistically signi?cant?Why?A:Yes,the t-ratio is3.26,which is greater than the critical value1.96.3.(4points)Is there any serial correlation in the residuals of the?tted model?Use Q(12)of the ACF of residuals to answer the question.[Hint:for a chi-square distribution with m degrees of freedom,the expected value is m.]A:Q(12)=8.8which is less than E(χ210)=10so that p-value>0.05.4.(4points)Let T=45be the forecast origin.What are the1-step and2-step aheadforecasts of the?tted model(after taking anti-logtransformation)?A:x45(1)=0.912and x45(2)=3.95(from SCA).For Splus,x45(1)=exp(0.0087?.1743)=0.847,x45(2)=exp(?.012479+1. 278152)=3.55.5.(3points)Give an interpretation of the estimated constant0.0508of the?tted modelfor x t.A;Slope of time trend.3and the S&P500index from January1999to December2004with sample size T=1508.We employ the market model:r t=α+βr m,t+e t,where r t and r m,t are Wal-Mart stock return and S&P500index return,respectively.Splus output is attached;page6of output.Answer the following questions.1.(4points)Write down the?tted market model.A:r t=0.0205+0.9606r m,t+e t.2.(4points)The Ljung-Box statistics of the ACF of residuals show some minor serialcorrelations,but the ACFs are relatively small so we ignore the serial correlations and perform the ARCH e?ect test.Is there an ARCH e?ect in the residuals of the?tted market model?A:Yes,archTest gives a p-value about0.0.3.(4points)We employ a GARCH(1,1)model(called“m2”in the output).Write downthe?tted /doc/889308787.html,ment on the?tted model.A:Let r t and r m,t be the Wal-Mart stock return and S&P500index return,respectively.The model isr t=0.9386r m,t+a t=0.9386+σt t, t～t6.41σ2t=?4.29×10?5+0.0377a2t?1+0.963σ2t?1.The negative estimate ofα0does not make sense,but it is statistically not di?erent from0.Also,the?α1+?β1≈1so that the?tted model indicates an IGARCH(1,1)model without the constant.4.(6points)Further analysis indicates that an EGARCH(2,1)model?ts the data better.There are two leverage e?ect parameters.Are these two e?ects statistically signi?cant?Why?You may test the e?ect individually.A:Examine the t-ratio of the two leverage parameter estimates.For Lev(1),the t-atio is?2.129.For Lev(2),the t-ratio is?1.847.In both cases,the p-values are less tha0.05so that they are both signi?cant.[It you use two-sided tests,then Lev(2)is notsigni?cant.]5.(2points)What are the1-step ahead forecasts for the return and its volatility of Wal-Mart stock at the forecast origin T=1508using the EGARCH model.A:zero for return and0.7082for volatility.4from January1995to December2004with2519observations.Splus output is attached;page 8of output.Answer the following questions.The ACFs of the returns are small so that the mean equation consists of a constant term only.1.(5points)Consider the?tted GARCH(1,1)model.The volatilityequation isσ2t=0.042+0.049a2t?1+0.944σ2t?1.Letηt=a2t?σ2t.Rewrite the prior vo latility equation in an ARMA form for the{a2t} series.A:a2t=0.042+0.993a2t?1+ηt?0.944ηt?1.2.(5points)Write down the?tted EGARCH(1,1)model with leverage e?ect(both meanand volatility equations and the parameter of the conditional distribution used).A:The model isr t=0.04918+a t=0.04918+σt t, t～t6.68ln(σ2t)=?0.06316+0.1033(|a t?1|?0.5464a t?1σt?1)+0.989ln(σ2t?1).3.(4points)Test the hypotheses H o:v=5vs H a:v=5,where v is the degrees offreedom of the conditional Student t distribution.Draw your conclusion.[Hint:you may use the usual t-ratio test.]A;t-ratio=6.684?5=2.62>1.96.Thus,reject H o:v=5.4.(5points)To better understand the leverage e?ect,use the?tted EGARCH(1,1)modelto calculate the ratioσ2t( =?3)2t ,where t denotes the iid sequence of the innovationsde?ned in class.A:From the?tetd volatility equation,we haveσ2t=exp(?0.06316)(σ2t?1).989exp(0.1033| t?1|?0.0564 t?1). Therefore,σ2t( =?3)σ2t( =3)=exp(?0.0564(?3))exp(?0.0564(3))=exp(0.0564×6)=1.403.5.(4points)Used the?tted EGARCH model and T=2519as the forecast origin.Whatare the1-step ahead forecasts of log return and volatility?A:Forecast of log return is0.0492and forecast of volatility is1.184.6.(4points)Write down the mean equation of the?tted GARCH-M model for the data.A:r t=0.058+0.00629σ2t+a t.7.(3points)Based on the GARCH-M model,is the risk premium statistically signi?cant?Why?A:No,the t-ratio is0.453with p-value=0.65(two-sided).5。
2024江西学位英语考试真题及答案2024 Jiangxi College English TestPart I Listening Comprehension (30 points)Section A (10 points)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. Both the conversation and the question will be spoken only once. After each question, there will be a pause. During the pause, you must read the four choices 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.1. A) Go ahead.B) You’re welcome.C) It’s a pleasure.D) You’re welcome.2. A) No, I didn’t.B) Yes, I know.C) No, you can’t.D) How do you do?3. A) Traffic in town.B) The latest film.C) The place of interest.D) The world population.4. A) Reading a book.B) Listening to music.C) Watching TV.D) Surfing the internet.5. A) It was expensive.B) It was helpful.C) She didn’t like it.D) She couldn’t hear it.6. A) You have lost it.B) It is here on my desk.C) Check with the lost and found.D) If you want it back, leave a message.7. A) A new coat.B) His opinion.C) Stress over grades.D) Wet weather.8. A) In September.B) In August.C) In November.D) In December.9. A) On Saturday.B) On Sunday.C) On Friday.D) On Monday.10. A) A bookshop.B) A shoe store.C) A flower shop.D) A fruit store. Section B (10 points)Directions: In this section, you will hear 3 short passages. At the end of each passage, you will hear some questions. Both the passage 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 mark the corresponding letter on the Answer Sheet with a single line through the center.Passage OneQuestions 11 to 13 are based on the passage you have just heard.11. A) To enjoy the beautiful scenery.B) To have a barbecue.C) To go bird-watching.D) To take a walk.12. A) 4 hours.B) 3 hours.C) 1 hour.D) Half an hour.13. A) White.B) Red.C) Black.D) Brown.Passage TwoQuestions 14 to 16 are based on the passage you have just heard.14. A) The history of college dorms.B) Information about school traditions.C) The advantages of living on campus.D) Ways to improve the dorm life.15. A) Difficulties in paying the rent.B) Lack of social life.C) Dirty and noisy environment.D) High cost and limited facilities.16. A) Clean and quiet.B) Having plenty of restaurants.C) With comfortable beds and a nice view.D) Feeling lonely and unsafe.Passage ThreeQuestions 17 to 20 are based on the passage you have just heard.17. A) Here.B) In the classroom.C) In the library.D) In a restaurant.18. A) Title of the book.B) Author of the book.C) Number of copies.D) Total cost.19. A) Next Monday.B) This Monday.C) Last Monday.D) Two weeks from Tuesday.20. A) Pay the bill before leaving.B) Collect the book at noon.C) Read and return by 3 p.m. Friday.D) Come back to check on Friday.Part II Reading Comprehension (40 points)Section A (15 points)Directions: For each blank in the following passage, there are four words or phrases marked A), B), C) and D). Fill in each blank with the word or phrase that best fits the context.The projection is that the number of students in the stage would increase to 2 million people by 2024, which is 7 years later than the forecast in an annual report by a registered education business grant from the National Institute for Education. The standard 21 have filled 811,000 spots during a period 22 took public interest 23 the increase, creating an average of about 121,000 each year. However, the projection of 24 will have 2 million individuals researching on the same stage in 7 years, however, the rate of expansion is projected to 25 between 2021 and 2024 which will see the rate of filling 26 to 136,000 students each year. This progression has been slow, however it is very likely that the rate of absorption of students will increase by 27 which may be due to an increase in the standard of delivery from universities and technical institutions offering tutorials as well asan advanced form of academics as well as the realization by students in academic benefits.21. A) calculationB) estimateC) predictionD) assessment22. A) whoB) asC) whereD) which23. A) ofB) forC) intoD) with24. A) workB) employeesC) jobsD) recruitments25. A) raiseB) expandC) be higherD) increase26. A) upB) outC) downD) in27. A) dataB) tableC) sourcesD) numberSection B (15 points)Directions: Read the following three passages. Each passage is followed by several questions or unfinished statements. For each of them, there are four choices marked A), B), C) and D).Choose the best answer and mark the corresponding letter on the Answer Sheet.Passage OneFast Food RestaurantsFast food is one of the world’s most profitable industries, with companies earning billions of dollars each year. Fast food restaurants have in fact become so popular that there are now 44,000 locations in over 100 different countries.28. How many locations do fast food restaurants have worldwide?A) 44,000B) Over 100C) MillionsD) Thousands29. How much money do fast food companies earn yearly?A) MillionsB) BillionsC) TrillionsD) Thousands30. In how many countries do fast food restaurants have locations?A) 44B) 100C) 200D) 300Passage TwoBullying in SchoolsBullying has become a serious issue in schools worldwide, with many students experiencing verbal and physical abuse from their peers. It is estimated that over 20% of students are bullied in school each year.31. What percentage of students are bullied in school annually?A) 10%B) 20%C) 30%D) 40%32. What kinds of abuse do students experience from their peers?A) Verbal and physicalB) Emotional and mentalC) Physical and mentalD) Verbal and emotional33. Why has bullying become a serious issue in schools?A) Lack of disciplineB) Lack of awarenessC) Lack of attentionD) Lack of preventionPassage ThreeTechnology in EducationTechnology has revolutionized the way education is delivered in schools around the world. With the use of computers, tablets, and interactive whiteboards, teachers can now engage students in more interactive and creative ways.34. How has technology changed education?A) It has made it more engagingB) It has made it more difficultC) It has made it more traditionalD) It has made it more boring35. What devices are used in schools for teaching?A) Tablets and interactive boardsB) Books and pensC) Desks and chairsD) Paper and pencils36. In what way can teachers engage students using technology?A) By giving lecturesB) By assigning homeworkC) By using online resourcesD) By creating interactive lessonsSection C (10 points)Directions: Read the following passage. Answer the questions according to the information in the passage.Volunteering is a great way to make a difference in your community. Whether you are helping out at a local charity or organizing a community event, volunteering can be a rewarding experience. Not only does it provide you with the opportunity to give back, but it also allows you to meet new people and develop new skills.37. What is volunteering?38. What are the benefits of volunteering?39. What can you do as a volunteer?40. How can volunteering help you develop personally?Part III Writing (30 points)Directions: For this part, you are allowed 30 minutes to write a short essay on one of the following topics. You should write at least 150 words.1. The importance of learning a second language2. The impact of social media on society3. The benefits of travel4. The role of technology in educationSample answers:1. The importance of learning a second languageLearning a second language has numerous benefits. It allows people to communicate with others from different cultures and countries, which can lead to new friendships and opportunities. Additionally, learning a second language can improve cognitive abilities and enhance problem-solving skills. Overall, learning a second language is a valuable skill that can enrich one's personal and professional life.2. The impact of social media on societySocial media has had a profound impact on society, shaping the way people communicate and interact with each other. It has transformed the way information is shared and has created new opportunities for businesses and individuals to connect with others. However, social media also has its drawbacks, such as the spread of misinformation and the negative impact it can have on mental health. Despite these challenges, social media remains a powerful tool for connecting people and sharing ideas.3. The benefits of travelTraveling allows people to explore new cultures, broaden their perspectives, and create lasting memories. It provides an opportunity to step out of one's comfort zone and experience different ways of life. Traveling can also improve language skills, increase cultural awareness, and promote personal growth. Overall, travel offers countless benefits and can be a transformative experience for those who embark on new adventures.4. The role of technology in educationTechnology has revolutionized the way education is delivered, making it more accessible and interactive. It has allowed students to access information and resources from anywhere in the world, enabling personalized learning experiences. Technology in education has also transformed the way teachers engage with students, creating new opportunities for collaboration and creativity. While technology has its challenges, such as screen time and digital distractions, its role in education is undeniable and will continue to shape the future of learning.In conclusion, the 2024 Jiangxi College English Test covers listening comprehension, reading comprehension, and writing. By preparing for and taking this exam, students can improvetheir English language skills and gain valuable experience in academic testing. Good luck to all the test-takers!。
