单选题

Passage 2
Bankers' acceptances often arise in foreign trade. A business buying goods from abroad where it is not well known and does not have other credit arrangements will first obtain a letter of credit from its own bank. The letter will authorize the foreign seller to draw a draft on the company's bank. It can be made payable on sight, that is, upon presentation, payable upon arrival of merchandise, or payable in a fixed number of days. A draft can be made payable in, say, 30 days after it is presented to the bank against which it is drawn. This draft can be discounted at the seller's bank so that the seller receives immediate payment. If this is done, the draft can be sent through correspondent banks back to the domestic bank against which it is drawn. The domestic bank can buy the draft, a short-term loan agreement to be paid by the company buying the goods abroad. This action would tie up bank funds. Alternatively, the bank can stamp the draft "accepted" with the appropriate signature, thereby indicating that the bank guarantees the draft, and then sell it in the secondary market.

单选题 What gives rise to the bankers' acceptances?

【正确答案】 C

【答案解析】文中第一句话明确指出Bankers' acceptances often arise in foreign trade, arise起因于，give rise to引起。foreign trade和题中的international trade都指国际贸易或者对外贸易。

单选题 What will a foreign seller do when he gets the letter of credit from the buyer?

【正确答案】 A

【答案解析】文中第二句The letter will authorize the foreign seller to draw a draft on the company's bank，意思是信用证可以使卖方能从为买方提供服务的银行获得汇票。

单选题 How can the seller receive immediate payment if the draft is made payable on a future date?

A、 He can send the draft to the correspondent bank for immediate payment.
B、 He can present it to the bank against which it is drawn for payment.
C、 He can ask the buyer to pay the money.
D、 He can discount the draft at his bank and get money immediately.

【正确答案】 D

【答案解析】第六句指出This draft can be discounted at the seller's bank so that the seller receives immediate payment，意即卖方可以给予银行折扣来获得远期汇票的即期付款。

单选题 What will the buyer do if his bank buys the draft for him?

【正确答案】 B

【答案解析】倒数第三句The domestic bank can buy the draft, a short-term loan agreement to be paid by the company buying the goods abroad，是说当国内银行购买了卖方的远期汇票时，购买商品者就必须偿还银行的这笔短期贷款了。

单选题 What will happen if a draft is stamped "accepted" by a bank?

A、 The bank will sell it as soon as possible to the buyer.
B、 The draft will become money market funds.
C、 Dealers will buy it in the domestic market.
D、 The draft becomes a banker's acceptance and will be sold in the money market.

【正确答案】 D

【答案解析】最后一句指出Alternatively, the bank can stamp the draft "accepted" with the appropriate signature,...sell it in the secondary market, 意思是作为一种选择，由银行承兑的汇票可以在二级市场上流通(这是因为银行信誉度高的缘故)。