单选题 Passage 2 Accounting information is expressed primarily in monetary terms. The monetary unit is the prime means of measuring assets. This measure is not surprising given that money is the common denominator in business transactions. In the United States, the monetary unit is the dollar; in Great Britain, the pound sterling; in Japan, the yen. The stable-monetary-unit concept provides an orderly basis for handling account balances to produce the financial statements. Unlike a liter, a foot, and many other measurements, the value of the monetary unit may change over time. Most of us are familiar with inflation. Groceries that cost $50 three years ago may cost $60 today. The value of the dollar changes. In view of the fact that the dollar does not maintain a constant value, how does a business measure the worth of assets and liabilities acquired over a long span of time? The business records all assets and liabilities at cost. Each asset and each liability on the balance sheet is the sum of all the individual dollar amounts added over time. For example, if a company bought 100 acres of land in 1975 for $60,000 and another 100 acres of land in 1992 for $300,000, the asset of land on the balance sheet carries a $360,000 balance, and the change in the purchasing power of the dollar is ignored. The stable-monetary-unit concept is the accountant's basis for ignoring the effect of inflation and making no restatements for the changing value of the dollar. Let's look at the short-comings of this concept. Suppose another company paid $ 600,000 for the same 200 acres of land in 1992. Its land would be the same as the preceding company's land, but its balance sheet would show a much higher amount for the land. How do we compare the two companies' balance sheets? The comparison based on the stable-monetary-unit concept may not be valid because mixing dollar values at different times is like mixing apples and oranges.

单选题A credit may be advised to a beneficiary through another bank (the advising bank) without engagement on the part of the advising bank, but that bank, if it elects to advise the credit, shall ______. A. inform the issuing bank of the credit which it advises without delay B. endorse the amount negotiated on the reverse of the credit which it advises C. add his confirmation to the credit which it advises D. take reasonable care to check the apparent authenticity of the credit which it advises

单选题For the stability of the banking industry, the minimum capital adequacy ratios are not necessary.

单选题{{B}}Section One{{/B}} Directions: In this section ,you will hear ten short statements. Each statement will be spoken only once. After each statement, there will be a pause. During the pause ,you must read the four suggested answers marked A,B,C and D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.

单选题Off- site surveillance enables bank supervisors to be aware of the nationwide economic trends and thus facilitates policy development in the banking sector.

单选题On a hot day, the price and the quantity sold of ice creams both increase. This can reflect a: ()

单选题International payments and other messages are often sent through an international computer network called ______. A. CHAPS B. SWIFT C. BACS D. EIMT

单选题Mergers and acquisitions simply mean that one company would attempt to take over another by gaining enough of its common stock to gain control. In the simplest sense, merger means two companies becoming one with the acquirer being in the commanding position. Mergers come in one of several distinct forms. A horizontal merger brings together two companies in a similar industry--two steel companies for example. A vertical merger brings together two companies in related industries. A steel company taking over an energy producer such as a coal mine would be an example. An automobile producer taking over a parts manufacturer is another. In either case, the merger is designed to produce a synergy between the two companies that did not exist before. The horizontal merger should produce greater scale and efficiency, avoiding duplication of products and production. Both bring together companies related either directly or indirectly. Another type of merger, or takeover as the case may be, is the merger of two unrelated companies. This is known as the conglomerate merger--a company purposely buying another not engaged in the same business at all. This sort of merger and the companies it creates-- conglomerates--were originally conceived to serve as hedge against changing economic climates. Leveraged buyout (LBO) is the purchase of one company by another using mainly borrowed funds. Generally most M&A activity involves one company buying another, taking it out of the public marketplace. On occasion, the management of a company will itself tender for the outstanding shares of a company, accomplishing the same ends. This type of privatization is referred to as a management buyout, or MBO. Acquisitions are classified as either friendly or hostile, depending upon the reaction of tile target company"s directly to the proposed bid. If management remains opposed and attempts to dissuade shareholders from accepting the offer of the acquirer, the proposed purchase price is known as a hostile offer, as opposed to a friendly offer if they agree to the terms and conditions. But it should not be assumed that all hostile bids will be successful. Target companies can mount expensive defenses to ward off unwanted suitors, although the costs can be quite high. Some of those defenses are also products of the 1980s and are equally or more famous than some of the financial engineering techniques developed during the same period.

单选题Which of these best describes the U.S. Federal Reserve? （　　）

单选题Recovery from the turmoil in Asian financial markets has been remarkably rapid but the problems have left _____ scars on the local banking system.

单选题If the demand for CDs is more elastic than the supply, a ＄3-tax per CD will increase the consumer price by ______. (a)＄3. (b)more than ＄1.50, but less than ＄3. (c)＄1.50. (d)less than ＄1.50.

单选题A.Theywillwritetotheirhome.B.Theywillwritetotheirheadquarter.C.Theywillaskfortheirrights.D.Theywillwaitforanofficer.

单选题 Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and question will be spoken only once. During the pause, you must read the four choices marked A, B, C, D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.

单选题A rise in interest rate will cause ______.

单选题The actual chartering processes and scrutinizing factors considered by different chartering authorities may he. different.

单选题Directions: In this section, you will hear short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only ONCE. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.{{B}}Passage one{{/B}}

单选题 Directions: There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D.{{B}}Passage One{{/B}} Insurance policies usually contain a {{U}}(56) {{/U}} clause that excludes a fixed amount of the loss from {{U}}(57) {{/U}} Casualty insurance policies frequently contain a coinsurance clause in the contract. A coinsurance clause provides that the insurance company shall be liable {{U}}(58) {{/U}} only a portion of any loss {{U}}(59) {{/U}} by the insured unless the insured carries insurance which totals a certain percent, frequently 80-90 percent of the fair value of the asset. In the {{U}}(60) {{/U}} of a loss, the insured recovers from the insurance company that portion of the loss which the face of the insurance policy bears to the amount of insurance that should be carried as required by the coinsurance clause.

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