单选题A.toSmooththemoneyflow.B.toaddmoneysupplytotheworld.C.togiveIMFmembersprivileges.D.togiveWorldBankmembersprivileges.

单选题In most countries banks must acquire a license in order to undertake banking business.

单选题 Directions: Read the following passages and determine whether the sentences are " Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong", choose "Doesn't say". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.{{B}}Passage One{{/B}} The BIS is the central bankers' central bank. It is very discreet, and very influential. It was founded in 1930 to act as a trustee for the loans associated with the Young Plan for Germany Reparations. The first members of the bank were the central banks of Belgium, France, Germany, Italy, Japan and the United Kingdom, together with three private U. S. banks. The Federal Reserve Bank subsequently became a member alone with all the major European central banks. Current membership consists of 30 central banks, of which 25 are European plus the United States, Canada, Australia, and South Africa. (The BIS was unique in having Alhania and South Africa as co-member. ) The board of directors is composed of the governors of the central banks of Belgium, France, Germany, Italy, and the United Kingdom, together with co-opted directors from among the governors of those member central banks that do not have a representative on the board. The BIS has three main functions. It acts as a bank, primarily as a central bankers' bank; it acts as a gathering place for central hankers, a vehicle for international monetary cooperation; and it acts as trustee for various international loans. The BIS's role as an intermediary provides a number of advantages to other central banks. The first is anonymity : sometimes it is not convenient for a central bank to be seen to withdraw its funds from the market. The second is risk spreading: a deposit with the BIS is very safe since the bank is highly liquid. Finally, deposits placed with the BIS can usually be withdrawn at very short notice.

单选题If a major borrower gets in trouble because of inability to ______ a loan, the bank may find itself in serious trouble as well.

单选题You have to pay high ______ on an estate. A. trust funds B. taxes C. returns

单选题Which of the following is not the distinction between bonds and stocks? A. Bonds are debt whereas stocks are equity. B. The bondholder does not share in the profits if a company does well, while the shareholder does. C. A sock's price fluctuates while that of a bond is fixed. D. In the case of bankruptcy, a bondholder will get paid before a shareholder does.

单选题Credit and credibility In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the public's deposits and running the payment system. Competition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank. The gales of change will leave many banks looking different in form and substance from a decade ago. Banking is traditionally thought of as one business, not least of all by bankers. Yet, as Mr. Thomas Steiner of Mckinsey, a management consultancy, points out, it comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will be- come the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will shrink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers' diaspora will be wide. Crossing the divides This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities business as they feel the regulators will let them get away with. Citicorp and J. P. Morgan have all been al- lowed to set up securities - underwriting affiliates slipping through the Section 20 loophole of the legislation separating commercial and investment banking. The two businesses have become so interwoven that, as Mr. Dennis Weatherstone, president of J. P. Morgan, says, we really have to rip the fabric to separate the threads. For their part, investment banks and securities houses have become direct suppliers of credit to wide range of financial and non - financial customers. They offer investment products that are virtual substitutes for interest - earning demand deposits. They own and operate non - bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial banking in their home market, American and Japanese investment banks and securities houses happily run such banking affiliates abroad. It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. Bankers are becoming everyday occurrences. Japan's Nippon Life joined the act in February by taking a 4% stake in Spain's Banco Bilbao Vizcaya for 250m. At home, Japanese insurers already have affiliations with banks, through the web of cross - shareholdings of the big industrial groups. America's third biggest re- tail stock broking firm, Pru - Bache, has dipped in the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep insurance into financial services. Retailers and manufacturers own securities companies, insurance firms' thrifts and non - bank banks. They offer a wide range of credit, investment - banking and insurance services, to companies and individuals alike.

单选题For a note payable to be paid in installments within 5 years, which of' the following statements is correct?

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单选题The markets for treasury bills in most developed countries have many different buyers and sellers.

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单选题FredPerry,CFA,purchased$100,000ofanewlyissuedTreasuryinflationprotectionsecuritybasedonthefollowingcharacteristicsandinformation.Thecouponpaymentattheendofoneyearisclosestto:()

单选题Which of the following is not true of forfaiting? ______.

单选题The normal downward slope of demand curves is necessarily explained by: （　　）

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单选题If rates fall to the ______ conversion price, the investor is locked an at that rate for the remaining life of the bond.

单选题To trade on a documentary bill basis, the documents are ______.

单选题A traveller's cheque is selfidentifying because the issuer can have his name on it.

单选题To finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is the Treasury bill, which is commonly issued by the ministry of finance. However, some Treasury bills, like the Treasury bill of the U. S. government, do not actually pay interest. Instead they are issued at a discount from par (their value at maturity). The investor's yield comes from the increase in the value of the security between the time it was pm, chased and the time it matures. Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because even if the government ran out of money, it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can be bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to.