金融英语 习题参考答案 杨琰

金融英语习题参考答案Unit1MoneyCreditandInterestRatesSectionAMoneyandmoneysupplyExercisesI.barter mediumofexchange storeofvalue unitofaccount currencydevaluationmetalmoney full-bodiedmoney goldstandard creditmoney legaltenderelectronicmoney moneycreation moneyleakage additionaldepositsII.Inordertobeamediumofexchange,moneymustholditsvalueovertime,thatis,itmustbeastoreofvalue.Moneyalsofunctionsasaunitofaccountorstandardofvalue,providingacommonmeasureofthevalueofgoodsandservicesbeingexchanged.Thecommoditymoneyistheoldestformofmoney,mainlyusedinabartereconomy.Almostallcountrieshaveexperiencedthestageofmetalmoneywhichusedtobeaperfectformofmoney.III.信用货币不包括或不代表特定的有价值商品。信用货币的价值取决于其在发行人信用基础上的普遍接受程度，并通过信贷流程创造。电子货币通常有两种形式：一种是各种塑料卡，如信用卡；另一种是网上银行账户。如果央行提高存款准备金率，货币乘数就会下降，这意味着存款创造和货币供应都会减少。SectionBCreditExercisesI.Commercialcreditisthecreditprovidedmutuallybetweenenterprisesandislinkeddirectlytogoodsexchange.Usuallycommercialcreditisprovidedeitherintheformofdeferredpaymentorpaymentinadvancewhenbusinessesconductgoodstransactions.Consumer’screditisthecreditthatbusinesses,banksandotherfinancialinstitutionsgranttoconsumersformeetingconsumers’demandforconsumergoods.Inconsumer’scredit,thedebtorsareconsumers.Anordercheck,whichisthemostcommonform,ispayableonlytothenamedpayeeorhisorherendorsee,asitusuallycontainsthelanguage“Paytotheorderof(name)”.II.银行信用已成为大多数国家现代信贷的主要形式。但银行信用不能完全取代商业信用。商业信用仍然是银行信用的基础。私人信用的违约风险非常高。私人信用涉及自主、分散、盲目的借贷行为，难以被政府金融机构规范和监管。SectionCInterestratesExerciseI.Interest interestrate simpleinterest compoundinterest timevaluenominalinterestrate realinterestrate fixedinterest floatinginterestratedepositinterestrate loaninterestrate legalinterestrate benchmarkinterestrateII.Therealinterestratereferstotheinterestrateadjustedbysubtractingtheexpectedchangeinpricelevel(inflation),whichcanmoreaccuratelyreflectthetruecostofborrowing.Inordertopreventoverheatingduringtheboomperiod,thegovernmentadoptedthepolicyoftighteningmonetarypolicyandraisinginterestrates;inthedepressionperiod,itrelaxedmonetarypolicyandloweredinterestrates.III.利息是以贷款的形式借入资金所产生的费用。利率是衡量借款人在一定时间间隔内使用借款而向贷款人支付的价格。公众将一年期定期存款利率作为基准市场利率，隔夜拆借利率是银行的基准市场利率。Unit2TheCentralBankSectionAOverviewoftheCentralBankExercisesI.centralbankmonetarypolicycreditpolicycurrencyissuingfinancialsupervisionquantitativeanalysislenderoflastresortdiscountratefinancialinstitutionsopenmarketoperationreserverequirement naturalrateofunemployment monetarypolicygoalII.Thecentralbankisresponsibleforformulatingandimplementingthenationalmonetaryandcreditpolicies,havingtheexclusiverighttoissuecurrencyandimplementingfinancialsupervision.Thecentralbankplaysanimportantroleinthenation’spaymentssystem.Itprovidesbankingservicestodepositoryinstitutionsandtothegovernment.Rediscountistheactofthecentralbanktoprovidefinancialsupporttocommercialbanksbybuyingdiscountedbutnotyetmaturedcommercialpaperheldbycommercialbanks.Windowguidancereferstoakindofmildandnon-mandatorymonetarypolicytoolthatthecentralbankinfluencesthecreditbehaviorofcommercialbanksthroughadviceandsuggestions,anditisakindofpersuasivesupervisionmeans.Bankingindustryisthemostheavilyregulatedfinancialinstitutionintheworld.Thislargelyreflectsthecriticallyimportantrolebankingindustryplayinthepaymentssystemandinprovidingcredittoindividualsandbusinesses.III.中央银行通过影响经济中的货币和信贷条件来执行国家货币政策，以追求最大的就业、稳定的价格和适度的长期利率。银行监管涉及对银行机构的监督、检查和审查，以评估其状况及其遵守相关法律法规的情况。公开市场操作是在中央银行的倡议下进行的，中央银行完全控制其交易量。公开市场操作灵活、精确，可以快速实施。再贷款是指中央银行向商业银行发放的贷款。再贷款是央行的主要资产业务之一。它充分体现了中央银行作为“最后贷款人”的职能。SectionBSomeMajorCentralBanksExercisesI.中国人民银行在国务院领导下，制定和实施货币政策，防范和化解金融风险，维护金融稳定。美联储是美国的中央银行。它的主要责任是提升金融部门的条件，以利于实现充分就业和以稳定的价格实现平衡经济增长的基本目标。欧洲央行在银行监管、货币、统计、宏观审慎政策和金融稳定以及国际和欧洲合作等领域执行具体任务。II．TheaimofmonetarypoliciesofthePBCshallbetomaintainthestabilityofthevalueofthecurrencyandpromoteeconomicgrowth.BecauseopenmarketoperationsarethemostimportantpolicytoolthattheFedhasforcontrollingthemoneysupply,theFOMCisnecessarilythefocalpointforpolicymakingintheFederalReserveSystem.Toadopttheeuro,countriesneedtofulfillcertaineconomiccriteria,namely,ahighdegreeofpricestability,asoundfiscalsituation,stableexchangeratesandconvergedlong-terminterestrates.Unit3CommercialBanksSectionAOverviewofCommercialBanksExercisesI.Interchangeability creditcreation savingsaccumulation collectionserviceinternationaltradesettlement stateownedcommercialbank corporatebankingpersonalbanking subsidiary brandimageII.商业银行还通过保持货币和银行存款的可互换性，并通过提供最快速、高效的货币支付机制，为货币供应提供灵活性和流动性。51SectionBPersonalBankingExercisesI.demandsavingsdeposit timedepositoflump-sumdepositandwithdrawaltimedepositofsmallsavingsforlump-sumwithdrawaltimedepositofprincipalreceivingandinterestwithdrawaltimeordemandoptionaldeposit depositslip certificateofdepositpassbook password lossreporting educationloanII.活期储蓄存款是一种对到期日、存取款时间和金额没有限制的存款方式。这是银行最基本、最常规的存款方式。申请正式挂失时，应提供客户名称、开户时间、交易类型、金额、账号、开户时预留地址、电话等账户信息。个人汽车贷款面向具有完全民事行为能力、持有有效个人身份证件、具有完全合法还本付息能力、资信良好的自然人。50%。申请人必须满足相关学校获得国家教育贷款的条件。目前，留学贷款仅限于商业贷款。III．TheminimumamountfortimedepositoflumpsumdepositandwithdrawalissetatRMB￥50.00,withoutanyupperlimit.Thematuritiesrangefromthreemonths,halfayear,oneyear,twoyearsandthreetofiveyears.Thistypeofdeposithasthecharacteristicsoflongtermandhighinterestrate.Thetermofpersonalcarloanshouldbenolongerthan5yearsandnolongerthan3yearsforsecondhandcarloan.Thelengthofmaturityofaneducationalloanisusuallyonetosixyears,maximumnotexceedingtenyearsinclusive.Thespecificlengthofmaturitydependsonthestudyconditionsoftheborrowerandthenatureofguarantee.SectionCCorporateBankingExercisesI.syndicatedloan leadbank exporterbuyer’scredit exportsupplier’screditmechanicalandelectricalproducts completeequipment workingcapitalloanguaranteedloan financialstatements businesslicense charterofthecompanymanagementfee commitmentfee internationalcommonpractice legalpersonII.银团贷款业务主要涉及安排行、牵头行、经理行、参与行、代理行、协调行等成员，他们将根据合同或各自的贷款比例履行职责、享有权利并承担风险。一般来说，人民币流动资金贷款按贷款支持方式可分为担保贷款和信用贷款，其中担保贷款的担保方式有保证、抵押或质押。III．Duringimplementationoftheloans,theborrowerdoesnotneedtofaceallmembersofthesyndicate,andrelevantwithdrawal,repaymentofprincipalwithinterestandothermanagementworkrelatedtotheloansshallbefulfilledbytheagencybank.capitalloanisakindofloanusedtomeettheshort-termdemandsofcustomersinthecourseofproductionandoperation.SectionDBankriskmanagementExercisesI.systematicmarketrisk operationalrisk assetliabilitymanagement riskpremiumportfoliorisk riskexposure loanpricing borrowingliquidity AssetSecuritizationII.信用风险是指资产或贷款在完全违约的情况下无法收回的风险，或贷款服务出现意外延迟的风险。外汇或货币风险是银行面临的主要市场风险之一。如果汇率灵活，任何给定货币的净空头或多头头寸都将使银行面临货币风险。III.Forbanks,profitabilityisgoingtodependonthemanagementofrisks,andriskmanagementistheircorebusiness.Riskmanagementinvolvesidentificationofthekeyfinancialrisks,decidingwhereriskexposureshouldbeincreasedorreduced,andfindingmethodsformonitoringandmanagingtheriskpositioninrealtime.Unit4InvestmentBanksSectionAOverviewofInvestmentbanksExercisesI．风险资本通常为最近成立并快速增长，但规模尚不足以进入公共股票市场的公司提供资本和战略指导。资产证券化是出售由金融资产池现金流支持的证券，它彻底改变了企业的融资方式。II.Mostinvestmentbanksearnasignificantproportionofrevenuefromtradingandinvestment.Outstandingplayersintradingincludemanyofthebestknowninvestmentbankinghousesandhedgefunds.Moneymanagementisanimportantsegmentofthecapitalmarketsandisbecominganintegralpartoftheinvestmentbankingbusiness.SectionBSecuritiesExercisesI.tradingatdiscount tradingatpremium bluechipstock preferredsharescommonshares incomeshares growthshares pennystockII.,这是基于政府拥有征税权的原则。1美元。它们是由投机企业提供的，可以在一夜之间兴衰。它们风险很大，只能用你能承受损失的资金来购买。III．Theparvalueisnotthepriceofthedebtinstruments.Itspricefluctuatesthroughoutitslifeinresponsetoanumberofvariablessuchasgeneraleconomicconditionsandthefinancialhealthoftheissuer.Preferredsharesaresomewhatlikebonds.Theygenerallyentitletheholdertoreceivefixedquarterlypaymentscalleddividendssoinvestorsbuythemtoproducefixedincome.SectionCStockMarketExercisesI.交易所交易货币市场基金是指符合交易所规定的上市条件，在交易所交易系统以竞价方式进行交易，并以基金净值认购或赎回的货币市场基金，基金份额总额不固定且持续。企业债券是指企业按照《企业债券管理条例》的法定程序发行并同意在规定期限内还本付息的证券。II．Treasurybonds,akindofgovernmentbondsissuedforraisingfinancialfunds,arethecertificatesforclaimsanddebtsissuedtoinvestorsbythecentralgovernment.Holdersofpreferredshareshavelimitedvotingrights.Exceptinspecialconditions,holdersofpreferredsharescannotattendshareholders’meetingsandtheirshareshavenovotingpower.SectionDSecuritiesRegulationExercisesI．中国证监会对境内证券期货监管机构实行垂直管理，对证券期货市场进行统一监管。投资管理司的重点是确保有关这些投资的披露对零售客户有用，并且确保消费者必须承担的监管成本不会过高。II．TheCSRCshallberesponsibleforsupervisingthesecuritiesmarketbehaviorsoflistedcompaniesandtheirshareholders;Supervisethelisting,tradingandsettlementofdomesticcontractfutures;Supervisethestockandfuturesexchangesandtheirseniormanagersinaccordancewithrelevantprovisions.ThemissionoftheU.S.SecuritiesandExchangeCommissionistoprotectinvestors,maintainfair,orderly,andefficientmarkets.Unit5InsuranceSectionAOverviewofInsuranceExercisesI．Insurer insured premium beneficiary policyclaim insurableinterest Insurancebroker insuranceagentprobabilityofloss principalofutmostgoodfaithII.保险是保险公司与购买保险的个人（或组织）之间签订的正式的、具有法律约束力的合同。只有当被保险人在保险标的物中拥有利益，并且这种利益实际上是可保险的，保险合同如果保险代理人是独立经纪人，他或她将向多家保险公司发送建议书，以获得最低价。如果该代表为某一特定公司的代理人工作，他或她将向该公司的承销部门提交该提案。III．Whentheeventcoveredbyinsurancepolicyhasoccurred,thepolicyholderorbeneficiaryshouldnotifytheinsurancecompany.Ifthelikelihoodofaninsuredeventissohigh,orthecostoftheeventsolarge,thattheresultingpremiumislargerelativetotheamountofprotectionoffered,itisnotlikelythatanyonewillbuyinsurance,evenifonTheprincipleofinsurableinterestisthemostimportantlegalprincipletoprotecttheprincipleofindemnity.Thedoctrineofinsurableinterestwasdevelopedasameansofensuringthattheinsurancecontractwouldnotbeusedforwageringpurposesandalsotomitigatethemoralhazard.SectionBTypesofInsuranceExercisesI.责任保险是一个非常广泛的超集，涵盖了对被保险人的法律索赔。指被保险人对他人的人身或财产造成损害时支付的款项。房屋保险为灾难造成的房屋损坏或毁坏提供赔偿。在某些地理区域，标准保险不包括某些类型的灾害，例如需要额外保险的洪水和地震。只要投保人活着，终身保单就提供保护，并继续及时支付保费。这种保险不仅提供死亡（保护II.Insuranceisaformofcontractbetweenaninsuredandinsurertoprotecttheinsuredfromfinanciallossesincaseofrisks.Theinsuredusuallypayspremiumstotheinsurer.Creditinsurancerepayssomeorallofaloanwhencertainthingshappentotheborrowersuchasunemployment,disability,ordeath.Therearemanytypesoflifeinsuranceavailabletodayandchoosingonecanbechallenging.Itisessentialtoevaluatethebenefitsthatcanbeattainedfromeachcover.Therearevariousfeaturesandfactorstoconsiderwhenmakingadecisionwithregardtothistypeofinsurance.Unit6DerivativesSectionAOverviewofDerivativesExercisesI.derivative underlying leverage speculation hedgefuture option forward swapII.衍生工具是一种金融合同,的价格变动有关。金融衍生品交易通常只需要少量保证金即可签订大额远期合约或互换不同的金融工具。金融衍生品的杠杆效应在一定程度上决定了其高投机性和高风险性。II．Exchange-tradedderivativesaretradedonthefloorsoforganizedsecuritiesexchangesandusuallyrequireagoodfaithormargindepositwhenbuyingorsellingacontract.Contrarytohedging,thepurposeofspeculationistotakealittlemorerisktoobtainhighreturns.Speculatorsgainhighspeculativeprofitsbyassumingtheriskstransferredbyhedgers.SectionBOptionsExercisesI.买权（看涨期权）卖权（看跌期权）期权费 行权通知 价内 价外 平价到期日 美式期权 欧式期权 沉没成本II．Anoptiongivesthebuyertherighttobuyorsellastandardquantityofaspecificfinancialinstrumentataspecificpriceonorbeforeaspecificfuturedate.Thegreatestcharmofoptionisthatitcanmakethebuyerofoptionlocktheriskinacertainrange,sothatthetransfereeofrightscanexercisehisrightsintheprescribedtime,andtheobligormustfulfillhisrights.SectionCFuturesandForwardsExercisesI.上海期货交易所 利率期货 商品期货 持仓保证金 交割 价格发现II.Metalfutures energyfutures financialfutures stockindexfuturesInitialmargin forwardcontractsUnit7ForeignExchangeMarketSectionAForeignExchangeandExchangeRatesExercisesI.Foreignexchange foreignexchangerate convertibleexchange spotexchangefinancialexchange directquotation indirectquotation fixedexchangeratemanagedfloatingexchangerate exchangestabilizationfundcurrencyboardsystem basketofcurrenciesII.可自由兑换外汇是指未经外汇管理部门批准，可以自由兑换成其他货币或支付给第三方的外币。可自由兑换外汇是国际结算中使用最多的，可以在国际金融市场上自由交易和出售，可以用来偿还国际金融中的债权债务。从长远来看，一国价格水平的上升（相对于外国价格水平）会导致其货币贬值，而该国相对价格水平的下降会导致其货币升值。浮动汇率制度是没有政府或中央银行干预的最简单的制度。外汇现货价格是由市场驱动的，由私人对该货币的需求和供给的相互作用决定。III．Foreignexchangecanpromotethedevelopmentofinternationaleconomyandtrade,andadjuststheinternationalfundsurplusandshortage.Asanimportantpartofacountry’sinternationalreserves,itisalsothemainmeansofpaymentforthesettlementofinternationaldebt.Exchangeratesareimportantbecausetheyaffecttherelativepriceofdomesticandforeigngoods.Whenacountry’scurrencyappreciates,thecountry’sgoodsabroadbecomemoreexpensiveandforeigngoodsinthatcountrybecomecheaper.Conversely,whenacountry’scurrencydepreciates,itsgoodsabroadbecomecheaperandforeigngoodsinthatcountrybecomemoreexpensive.Thecurrentinternationalmonetarysystemishybrid,withmanagedfloatingformajorcurrencies,freefloatingforsomecurrenciesandvarioustypesofpeggedexchangeratesystemsforothercurrencies.SectionBForeignexchangeservicesofcommercialbanksExercisesI.currencyconversion exchangememo traveler’scheckindividualforeignexchangepurchasing foreignexchangedealingradicalfluctuation technicalanalysis self-servicedealingrealtimedealing whitecollarinvestorII.旅行支票因意外遗失或被盗，可以办理挂失、理赔和紧急赔偿；如果发生意外情况，您可以申请旅行支票签发人提供的紧急救援服务。个人外汇交易是指个人在银行规定的时间内，通过柜台服务人员或通过电子银行服务方式进行的实盘外汇交易。在柜台交易中，可以在人性化的氛围中感受到良好的服务。它特别适合刚刚开始进行个人账户外汇交易的投资者。III．thetraveler’schequeispermanentlyvalidwithoutexpiringdate.Ifoncepurchasingisnotusedup,theremainingcanbeusedwhendepartingthecountrynexttime.Whenpurchasingtraveler'scheque,travelerscanchoosedifferentcurrenciesaccordingtodifferentcountriesandregionsofdestinations.Thecustomersshouldgotooutletsofbankstotransactthebusinesswithvalidpersonalidentitydocumentandrelevantmaterials.ThereisanannualtotalamountmanagementfordomesticresidentstopurchaseindividualforeignexchangeswiththeamountofanequalvalueofUSD50,000perpersonperyear.Iftheamountexceedstheannualtotalforeignexchangepurchasingamount,thebankwillexamineandverifyyourtrueneedproofsinaccordancewithforeignexchangemanagementregulations.foreignexchangedealingsbytelephonecanmakepromptconclusionsandcanbeoperatedinotherplacesthantheinvestor’shomeItisparticularlysuitableforthewhite-collarinvestorswhoareoccupiedwiththeirwork.Unit8InternetFinanceSectionAOverviewofInternetFinanceExercisesI.与传统金融机构和渠道相比，互联网金融具有应用轻、碎片化、财务管理及时等特点，更受中小企业青睐，更符合中小企业的发展模式和刚性需求。在互联网金融模式下，客户可以突破时间和地域的限制，在互联网上找到自己需要的金II.Internetfinance(ITFIN)isthecombinationoftraditionalfinanceandtheInternet.ItreferstothenewfinancialbusinessmodeinwhichtraditionalfinancialinstitutionsandInternetenterprisesuseInternettechnologyandinformationandcommunicationtechnologytoachievefinancing,payment,investmentandinformationintermediaryservices.UnderthemodeofInternetfinance,bothsidesofcapitalsupplyanddemandcancompleteinformationscreening,matching,pricingandtradingbythemselvesthroughthenetworkplatform.Ontheone