成考复习题 资料17-2《金融专业英语》复习题

《金融专业英语》1/3《金融专业英语》复习题Answeringthefollowingquestions1.Whatistheinternationalbalanceofpaymentandwhichitemsdoesitconstituteby?2.Whichmethodscouldbeusedtobalancetheinternationalpaymentdeficit?3.Whichcategoriesdofinancialmarketsmainlyinclude?4.Whatarethemajorfunctionsofmoderncommercialbank?ClozeTestrisktotheabilityandwillingnessofborrowerswithinacountrytomeettheir

3.Risksharingarrangements4bankstospreadloanrisks,avoidtoomuchexposuretoindividualborrowersandaccordinglyundertake5toawiderrangeofentitiesthantheywouldconsiderprudenttodoindividually.Syndicates6loanrisksinformalandidentifiableways,makingexpliciteachbank’scontribution7thetotalrisk.Interbankmarketsdosoinlessformalways,8wehavenotedabove.9thatmultilateraldevelopmentbanksandofficialinstitutionsco-financewithbanksorguaranteebankloans,therisktocommercialbanksispartlyunderwritten.Finally,“crossdefault”clausesinsyndicationcontractsgiveanybanktherighttoacceleratealoanshouldtheborrower10onanyotherloan.Thesevariousarrangementsweredevelopedandlegallyrefinedsothatbanksundertakinginternationallendingwouldbelargelyprotectedfromtherisksthatparticipatingbankswouldotherwiseface.1.A.refertoB.referstoC.isreferredtoasD.refersas2.A.obligationB.obligationsC.moneyD.debts3.A.rightsB.rightC.obligationsD.obligation4.A.adopttoB.areadoptedby C.adoptedbyD.adoptby5.A.lending B.lendings C.borrowing D.borrowings6.A.divide B.divideinto C.divideupD.divideon7.A.to B.inC.onD.by8.A.before B.orC.sothatD.as9.A.Withintheextent B.AbovetheextentC.BelowtheextentD.Totheextent10.A.defaultB.faultC.errorD.objectIIITranslationfromEnglishintoChineseTheterm“foreignexchange”hasthreeprincipalmeanings.Inthefirstplace,itmeansthesystemutilizedinfinancinginternationalpayments.Oritmayrefertothesubjectwhichisstudiedtoobtainknowledgeastothefinancialoperationsconductedtodischargeinternationalobligations.Inthesecondplace,itmeansthemediausedtodischargeinternationalobligations.Forthepurposeofinternationalfinanceandexchange,theprincipalkindsofmediaaretelegraphictransfers,mailtransfers,bills,demanddrafts,cheques,banker’sdrafts,foreignbonds,coupons,dividendchecks,pensionchecks,commercialandpersonallettersofcredit,traveller’scheques,foreignnotesandcoins,etc..Thethirdmeaningoftheterm“foreignexchange”isthatitcovers,inageneralway,theratesatwhichforeignexchangeisquoted.Theoverwhelmingmajorityofinternationalpaymentsaremadethroughthemediaofforeignexchangetradedinforeignexchangemarkets.Theforeignexchangemarketisnotanorganizedmarketinthesamesenseasastockexchangeorcommodityexchange.Inotherwords,thereisnosingle,physicalplacewherepurchasesandsalesareexecuted.Whilemarketsareorganizedinvariouswaysindifferentcountriesoftheworld,mostforeignexchangetransactionsaresimplyarrangedbytwopartiesandexecutedbytelephoneortelex.Themostimportantdealerswhichmaintainforeignexchange“dealingrooms”andexecuteforeignexchangetransactionsbetweenthemselves’ofcredit,(3)paymentatadistance,and(4)allowinghedgingagainstexchangerisks.Themethodofquotingthepricesorratesofexchangefordifferentcurrenciestakesoneoftwoforms,thedirectquotationmethodandtheindirectquotationmethod.Underthedirectquotationmethod,theratesarequotedintermsofavariablenumberofhomecurrencyperfixedforeigncurrencyunit,andChinaadoptsthismethod.Undertheindirectquotationmethod,theunitstothefixedunitofhomecurrency,theexchangemarketinLondonpracticesthismethod.IVTranslationfromChineseintoEnglish商业企业许多企业在货币市场上买卖证券。因为交易涉及的金额较大，这种活动通常仅限于大型企业。如前所述，货币市场可以被企业用来放置闲置资金，也可以用来筹集闲置资金。投资公司货币市场也活跃着大量形形色色的经纪公司。这些经纪公司(做市商)的主要职能是“做市”，即为买卖双方持有一些货币市场证券的存货。这些公司对维持货币市场的流动性非常重要，因为它们有助于确保买卖双方很容易在初级市场和二级市场上推销其证券。保险公司财产和人身意外伤害保险的公司必须保持流动性，因为他们无法预测何时需要资金。为了满足这种需求，保险公司出售他们的一些货币市场证券，以筹集资金。至于寿险公司，他们的资金需求是可预期的，因而没有必要大量持有货币市场证券。然而，一种常见的做法是，个人可以通过银行和投资公司代理部门把他/她的钱投资于货币市场，以赚取比把钱存放在银行所获利息更高的利息。VReadingComprehensionPassageOneApartfromborrowingfrombanks,afirmoranindividualcanobtainfundsinafinancialmarketintwoways.Themostcommonmethodistoissueadebtinstrument,suchasabondoramortgage,whichisacontractualagreementbytheborrowertopaytheholderoftheinstrumentfixedamountsatregularintervals(interestandprincipalpayment)untilaspecifieddate(thematuritydate),whenafinalpaymentismade.Thematurityofdebtinstrumentisthetime(term)totheinstrument’sexpirationdate.Adebtinstrumentisshort-termifitsmaturityislessthanayearandlong-termifitsmaturityistenyearsorlonger.Debtinstrumentswithamaturitybetweenoneandtenyearsaresaidtobeintermediate-term.Thesecondmethodofraisingfundsisbyissuingequities,suchascommonstock,whichareclaimtoshareinthenetincome(incomeafterexpensesandtaxes)andtheassetsofabusiness.Ifyouownoneshareofcommonstockinacompanythathasissuedonemillionshares,youareentitledtoonemillionthofthefirm’snetincomeandonemillionthofthefirm’sassets.Equitiesusuallyearnperiodicpayments(dividends)andareconsideredlong-termsecuritiesbecausetheyhavenomaturitydate.Themaindisadvantageofowningacorporation’sequitiesratherthanitsdebtisthatanequityholderisaresidualclaimant;thatis,thecorporationmustpayallitsmaturedebtholdersbeforeitpaysitsequityholders.Theadvantageofholdingequitiesisthatequityholdersbenefitdirectlyfromanyincreaseinthecorporation’sprofitabilityorassetvaluebecauseequitiesconferownershiprightsontheequityholders.Debtholdersdonotshareinthisbenefitbecausetheirdollarpaymentsarefixed.1.Afirmoranindividualcanraisefunds_____.A.byborrowingfrombanksB.byissuingadebtinstrumentC.byissuingequitiesD.Alloftheabove2.Abondislong-termifitsmaturityis_____.A.betweenoneandtenyearsB.islessthanayearC.tenyearsorlongerD.within20years3.Commonstockrefersto____.A.claimstoshareinthenetincomeofabusinessB.preferredstockC.claimstoshareinthenetincomeandtheassetsofabusinessD.claimstodividends4.That“equityholder”is“aresidualclaims”means_____.A.thecorporationmustpayitsequityholderonlyafterpayingitsmaturedebtholdersB.theequityholderenjoystheprivilegeofbeingpaidfirstC.theequityholderwillbeneglectedD.theequityolderwillbelookeddownupon5.Holdingafirm’sequitiesisadvantageousthanowningitsdebtsinthat_____.A.debtholderssharethebenefitofanyprofitincreaseofthefirmB.equityholdersbenefitdirectlyfromanyincreaseoftheprofitabilityorassetvalueofthefirmC.equitiesgiveownershiprightstotheequityholdersD.BothBandCPassageTwoAprimarymarketisafinancialmarketinwhichnewissuesofasecurity,suchasabondorastock,aresoldtoinitialbuyersbythecorporationorgovernmentagencyborrowingthefunds.Asecondarymarketisafinancialmarketinwhichsecuritiesthathavebeenpreviouslyissued(andarethussecondhand)canbesold.Theprimarymarketsforsecuritiesarenotwellknowntothepublicbecausethesellingofsecuritiestoinitialbuyerstakesplacebehindcloseddoors.Animportantfinancialinstitutionthatassistsintheinitialsaleofsecuritiesintheprimarymarketistheinvestmentbank.Itdoesthisbyunderwritingsecurities,thatis,itguaranteesapriceforacorporation’ssecuritiesandthensellthemtothepublic.TheNewYorkStockExchange(NYSE),inwhichpreviouslyissuedstocksaretraded,isthebest-knownexampleofsecondarymarkets,althoughthebondmarkets,inwhichpreviouslyissuedbondsofmajorcorporationsandtheUSgovernmentareboughtandsold,actuallyhavealargertradingvolume.Otherexamplesofsecondarymarketsareforeignexchangemarkets,futuresmarkets,andoptionsmarkets.Securitiesbrokersanddealersarecrucialtoawell-functioningsecondarymarket.Brokersareagentsofinvestorswhomatchbuyerswithsellersofsecurities;dealerslinkbuyersandsellersbybuyingandsellingsecuritiesatstatedprices.1.Aprimarymarketis_____.A.afinancialmarketwherenewissuesofasecurityareresoldpublictoinitialbuyersB.afinancialmarketwherepreviouslytradedsecuritiesaresoldtoinitialbuyersC.afinancialmarketwherenewsecuritiesaresoldtoinitialbuyersbehindcloseddo