单选题Any transferee for value who takes possession of an endorsed bill of lading obtains a good title to it, provided the transferor had a good title in the first place. Hem "any transferee for value" and "good title" means' ______.

单选题The worlds of banking have been made more complicated and uncertain because of the internet as an increasingly important commercial tool.

单选题There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. The reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are waded in secondary markets. Firms that specialize in trading either new or reissued financial assets are called primary secondary dealers, respectively.

单选题Commercial banks perform a very important service to all sectors of the economy by providing facilities for the ______ of savings and making them available for economically and socially desirable purposes.

单选题Standby letters of credit can ______.

单选题 Passage 3 Providing for a payment mechanism or the transfer of funds is one of the important functions performed by commercial banks, and it is increasing in importance as greater reliance is placing on the use of checks and credit cards. The increasing efficiency with which funds are managed is indicated by the gradual decline in money holdings relative to the gross national product over the years, despite the increase in the number of financial transactions. In recent years the only kind of money that has increased relative to national income is coin, primarily because of the growth of metering and vending machines. As we can see, at present check deposits are assuming a larger portion of the transaction load, and they are, being used more, efficiently. Most of the checks in the nation are cleared through the commercial banking system. Checks drawn on and deposited in the same bank merely transfer funds from one counter to another. If only two banks are involved in the same town, there is a direct exchange of checks. When several banks are involved within the same city, a clearing hours arrangement is usually employed. The process becomes a bit more complicated and time-consuming. Banks have employed computers and other sophisticated equipment to speed the clearing process, reduce costs, and improve accuracy. In recent years considerable thought and research have been given to what has become known as checkless banking. This would activate computers in banks throughout the nation and thus transfer funds from the purchaser's account, make deposits and loan repayments, and transfer funds between a depositor's accounts, make deposits and loan repayments, and transfer funds between a depositor's savings and checking accounts.

单选题A bank has different kinds of security as cover for advance to its customers. There are several ways in which a bank may take security for an advance by lien, pledge, mortgage and hypothecation. In the case of an ordinary lien, the borrower is stile the owner of the property, but the creditor (bank) is in actual or constructive possession of the property, without as a rule having a right to sell it. The securities subject to the bank"s lien are those which come into a bank"s hands in the ordinary course of its business, for example, bills, cheques and other negotiable instruments deposited with the bank in order that it may collect file proceeds. Pledge is the characteristic model of taking goods as security. It arises when goods (or documents of title thereto) or bearer securities are delivered by one person (called the "pledgor") to another person (called the "pledgee") to be, held as a security for the payment of a debt or for the discharge of some other obligation, upon the express or implied undertaking that the subject matter of the pledge is to be restored to the pledgee as soon as tile debt or other obligation is discharged. The pledgee is entitled to the exclusive possession of the property until the debt is discharged, and the pledgee, in certain circumstances, has the power of sale, but the ownership remains in the pledgor, subject to the pledgee"s right. Securities subject to pledge are goods and chattel and fully negotiable securities. Delivery of possession may be either actual or constructive. Essentially, mortgage is an assignment or charge of some interest in land or other property, as security for the payment of a debt or the discharge of some obligation for which it is given subject to a right of redemption (or equity of redemption), discharge of the obligation the interest conveyed (or charged) shall be reconveyed (or discharged). The mortgagee has a special interest in the property, and also a power of sale, but the possession of the property usually remains with the mortgagor unless and until there is a default and the mortgagee enters into possession, which is rare, or exercises any of his other remedies. Securities subject to mortgage are title deeds, life policies, and stocks and shares and others chosen in action. Hypothecation is a transaction whereby goods may be made available as security for a debt without transferring either the property or the possession to the lender. There is risk of lending against the hypothecation of goods. Since the lender does not obtain actual or constructive possession of the goods, his measure of control over them is often very limited, giving the borrower an easy opportunity of dealing with them fraudulently.

单选题{{B}}Passage Three{{/B}}

单选题Which of tile following does not belong to current assets?

单选题At the beginning of a given period, Mr. Ting's inventory was all finished goods. The volume is 600. At file end of this period, 2,000 are completed units and 600 are partly completed. The partly completed units were deemed to be 50% complete. The manufacturing cost is ＄ 30,000. Then cost per unit is ______. (a)＄17.64 (b)＄13.04 (c)＄10.34 (d)＄15

单选题Assume that there is inflation in the United States and the government pursues a contractionary fiscal policy. The likely effect would be that ______. (a)there would be a lower domestic interest rate and an increase in the demand for dollars that would partially offset the policy. (b)there would be a depreciation in the value of the dollar and a decrease in net exports that would partially offset the contractionary fiscal policy. (c)there would be an increase in net exports and an increase in aggregate demand that would partially offset the policy. (d) there would be a decrease in net exports and a decrease in aggregate demand that would partially reinforce the policy.

单选题Portfolio management is becoming an (21) part of the credit process. In the management of their portfolio, commercial banks emphasize the importance of asset and earning (22) , the immediate recognition as losses of all credit judged to be (23) , and the maintenance of appropriate credit loss (24) . All identified losses should be immediately (25)

单选题{{B}}Passage Three{{/B}} Forming a corporation is more costly than starting a sole proprietorship. The cost may include, for example, attorneys fees, incorporation fees paid to the state, and other outlays necessary to bring the corporation into existence. These costs are charged to an asset account entitled organization costs. In the balance sheet, organization costs appear under the other assets caption. Conceptually, organization costs are an intangible asset that will benefit the corporation over its entire life. But as a practical matter, most corporations amortize this asset to expense over a period of only 5 years, as allowed under income tax regulations. Because the amortization of organization costs usually is immaterial in dollar amount, this convenient treatment is justified by the accounting principle of materiality.

单选题The party who creates the trust is ______.

单选题The statement of cash flows helps a firm to manage its _____ .

单选题{{B}}Passage Two{{/B}} A balance sheet is simply the enumeration of the various assets of a business on one side of a ledger and the enumeration of various liabilities and {{U}}(61) {{/U}} accounts on the other side. The two sides must be equal, or balance. Only one further point should be {{U}}(62) {{/U}}: A balance sheet refers to a single point in time, for example, the close of business on December 31. Taken by itself, a balance sheet does not show {{U}}(63) {{/U}} over time. It is what economists call a stock concept, not a {{U}}(64) {{/U}} concept. That is, the balance sheet shows the stock of goods a firm has on hand at any particular instant and does not show the flow of goods through the firm over time. For this reason, a balance sheet does not show business {{U}}(65) {{/U}}, which are a flow.

单选题There are three ways in which a banker may take security for an advance: (1) lien (2) by pledge (3) by mortgage (4) by indemnity

单选题A clean bill of lading could indicate that ______.

单选题A bank is perhaps offering a high rate of interest became it desperately needs to attract funds to avoid ______ bankruptcy.

单选题According to the passage, non - cash charge represents ______.