外语教育网
您的位置:外语教育网 > 行业英语 > 金融英语 > FECT考试 正文
  • 站内搜索:

FECT-1考试单选题练习(1)

2009-07-17 13:55

  1. Which of the following is not a function of money? ______.
  A. To act as a medium of exchange
  B. To act as a unit of account
  C. To act as a store of value
  D. To provide a double coincidence of wants
  E. To act as a means of payment

  2. The price in the foreign exchange market is called ______.
  A. the trade surplus
  B. the exchange rate
  C. the money price
  D. the currency rate

  3. Market risk refers to the risk of______.
  A. financial prices fluctuations
  B. default
  C. fraud
  D. deferred payments

  4. Which of the following is not among the generally accepted accounting principles? ______.
  A. Cash basis
  B. Prudence
  C. Consistency
  D. Going concern
  E. Money measurement.

  5. What is a documentary letter of credit? ______.
  A. A conditional bank undertaking to pay an exporter on production of stipulated documentation
  B. A method of lending against documentary security
  C. An international trade settlement system biased in favour of importers
  D. All of the above

  6. Holding a group of assets reduces risk as long as the assets ______.
  A. are perfectly correlated
  B. are completely independent
  C. do not have precisely the same pattern of returns
  D. have a correlation coefficient greater than one

  7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .
  A. liability
  B. debt
  C. equity
  D. asset

  8. What function is money serving when you buy a ticket to a movie? ______.
  A. store of value
  B. a medium of exchange
  C. transaction demand
  D. a unit of account

  9. If foreigners expect that the future price of sterling will be lower, the ______.
  A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall
  B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase
  C. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise
  D. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall

  10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.
  A. open account
  B. bank's letter of guarantee
  C. banker's draft
  D. documentary credit

  11. Which of the following statements is not true of central banks? ______.
  A. They pay the government's salaries
  B. They always undertake the regulation of the banking system
  C. They are always the lender of last resort
  D. None of the above

  12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.
  A. appreciates by 12.70%
  B. depreciates by 14.55%
  C. depreciates by 12.70%
  D. appreciates by 14.55%

  13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______.
  A. If X and Y are totally independent with each other, the risk of the portfolio is reduced
  B. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset
  C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased
  D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased

  14. These are four main methods of securing payment in international trade:
  (1) payment under documentary credit
  (2) open account
  (3) collection, that is document against payment or acceptance of a bill of exchange
  (4) payment in advance

  From an exporter's point of view, the order of preference is ______.
  A. (4) , (2) , (3) , (1)
  B. (4) , (1) , (3) , (2)
  C. (4) , (3) , (1) , (2)
  D. (2) , (4) , (1) , (3)

  15. The main liability on a bank balance sheet is ______.
  A. deposits
  B. capital and reserves
  C. loans and overdrafts
  D. cash

  16. ______ shows that net income for a specified period of time and how it was calculated.
  A. The income statement
  B. The capital statement
  C. The accounting statement
  D. The statement of financial condition

  17. Why must the liabilities and assets of a bank be actively managed? ______.
  A. Because assets and liabilities are not evenly matched on the same time scale
  B. Because assets and liabilities are evenly matched
  C. Because the interbank market uses LIBOR
  D. Because assets and liabilities can be underwritten

  18. If the expected returns of two risky assets have a perfect negative correlation, then risk .
  A. is increased
  B. falls to zero
  C. is unaffected
  D. is reduced by one-half

  19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that .
  A. some nations would experience continual deficits
  B. the exchange rates may experience wide and frequent fluctuations
  C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment
  D. nations would need a larger supply of international reserves than otherwise

  20. What are your GBP/USD position and the average rate if you sell £4m at 1.6350 buy £5m at 1.6340 and sell $5m at 1.6348?
  A. Short £2 058 478.10 long $3 370 000 at 1.6371
  B. Long £5 941 521.90 short $9710 000 at 1.6342
  C. Short £5 941 521.90 long $9 710 000 at 1.6342
  D. Long £4 058 478.10 short $6 630 000 at 1.6336

  答案:

  1.D 2.B 3.A 4.A 5.A 6.C 7.A 8.B 9.A 10.A
  11.B 12.B 13.D 14.B 15.A 16.A 17.A 18.B 19.B 20.D

[1][2][3][4][5]
相关热词:金融英语
行业英语辅导课程
李 健协和医科大学医学博士,美国国立卫生研究院博士后……详情>>
李健:医学英语网上辅导名师
高 云澳大利亚注册会计师协会会员,会计专业硕士……详情>>
高云:财会英语网上辅导名师
李文沛中国政法大学博士,师从著名法学家周忠海教授……详情>>
李文沛:法律英语网上辅导名师

  1、凡本网注明 “来源:外语教育网”的所有作品,版权均属外语教育网所有,未经本网授权不得转载、链接、转贴或以其他方式使用;已经本网授权的,应在授权范围内使用,且必须注明“来源:外语教育网”。违反上述声明者,本网将追究其法律责任。
  2、本网部分资料为网上搜集转载,均尽力标明作者和出处。对于本网刊载作品涉及版权等问题的,请作者与本网站联系,本网站核实确认后会尽快予以处理。本网转载之作品,并不意味着认同该作品的观点或真实性。如其他媒体、网站或个人转载使用,请与著作权人联系,并自负法律责任。
  3、联系方式
  编辑信箱:for68@chinaacc.com
  电话:010-82319999-2371