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. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.{{B}}Passage One{{/B}} The bank {{U}}(56) {{/U}} borrowers enough interest to pay the expense of the bank and have something left over for {{U}}(57) {{/U}}. The interest cannot be higher than the legal rate, which is established by state law and in most states is 6% per year. {{U}}(58) {{/U}} big loans, the interest rate is much less, even as low as 2%. The rate depends on the money market, when there is plenty of money {{U}}(59) {{/U}} to be borrowed, banks charge low rates of interest. A savings bank may pay its depositors 2% and lend the money at 3.5% or 4%. But when money is tight, interest rates go up, and a savings bank may try to {{U}}(60) {{/U}} depositors by offering 4% or 4.5% or even more and lending the money at 5% or 6%.

单选题Accounting practices rest on certain guidelines. The rules that govern how accountants measure, process, and communicate financial information fall under the heading GAAP, which stands for generally accepted accounting principles as follows: The Entity Concept The most basic concept in accounting is that of the entity. An accounting entity is an organization or a section of an organization that stands apart from other organizations and individuals as a separate economic unit. From an accounting perspective, sharp boundaries arc drawn around each entity so as not to confuse its affairs with those of other entities. The Reliability ( or Objectivity) Principle Accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible. This is the reliability principle. Reliable data are verifiable. They may be confirmed by any independent observer. Ideally, then, accounting records are based on information that flows from activities that are documented by objective evidence. Without the reliability principle, also called the objectivity principal, accounting records would be based on whims and opinions and would be subject to dispute. The Cost Principle The cost principle states that assets and services that are acquired should be recorded at their actual cost (also called historical cost). Even though the purchaser may believe the price paid is a bargain, the item is recorded at the price paid in the transaction. The cost principle also holds that the accounting records should maintain the historical cost of an assets for as long as the business holds the assets. There, are also the Going- Concern Concept and the Stable - Monetary- Unit Concept.

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Most banks would hesitate to commit their scarce reserves to such a customer unless there was good prospect of a ______ in the customer's circumstances.

单选题Which of tile following statements is the mast accurate?

单选题In the case of pledge, ______.

单选题The result is that companies worldwide have been forced to come to ______ with their financial risks.

单选题Ten months later, before a company can produce another annual report, it goes ______.

单选题Harper & Grant Ltd. is a well - known and respected trading company. We handle imports directly from manufactures in 35 different countries, and currently export to 46 different countries worldwide. We are looking for enthusiastic people to work in our office in Bermuda on temporary 3 -, 6 - and 9 - month contracts. Applicants must be able to speak and write at least one foreign language fluently and can be nationals of any country. Experience in import/export will be an advantage, but as special training will be available this is not essential. The main requirements arc a willingness to work as a member of a team, to cope with pressure, and to be prepared occasionally to work long hours when necessary. There are several posts available and long -term prospects are good, though initially all successful applicants will be contracted for a maximum of 9 months. The salary we will offer is excellent. We will pay for your return air fare and provide adequate accommodation at a nominal rent. Please apply in your own handwriting, enclosing your resume to Sally Langley, Personnel Office, Harper &Grant Ltd, 1084 Great West Road, London W25.

单选题A pidend paid by a company is

单选题Which of the following is long- term liability?

单选题 {{B}} Credit and credibility{{/B}} 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 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}} There are two types of cheques--the "crossed" and the "open" cheques. A "crossed" cheque is so called because it has two parallel lines across it--an "open" cheque does not. The effective difference is that a "crossed" cheque would not normally be cashed, but would need to be paid in to an account. An "open" cheque can be cashed by the payee at the branch of the bank upon which it is drawn. Should a "crossed" cheque fall into some unauthorized person's hands, he could not cash it. As it must go through an account, the bank is able to trace the presenter of the cheque and therefore the money may not be lost. Once an "open" cheque has been cashed over the counter of a bank by an unauthorized person, the money may never be recovered. For this reason, it is always wise to use "crossed" cheques when paying bills or sending cheques through the post. Should a customer wish to "cross" an "open" cheque before issuing it, he can do so simply by ruling two ink lines across it. To "open" a "crossed" cheque in order to draw cash for himself at his own branch, he simply writes "pay cash" between the parallel lines and adds his signature beneath.

单选题Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. Bishop Ltd. received an advanced payment of $10,000 on December 1, for rent on a property for December and January. On receipt they correctly recorded it as cash and unearned revenue. If at December 31, their year-end, they failed to make an adjusting entry related to this payment, ignoring taxes, what would the effect on the financial statements for the year be? ()

单选题The primary source of funds of fire and casualty insurance companies includes ______. A. savings deposits B. premiums from policies C. commercial paper, stocks and bonds D. all of the above

单选题The Bretton Woods Conference was convened in 1944 to find ways to avoid the 1 international economic difficulties of the post - World Wm" I era. It 2 the International Bank for Reconstruction and Development, commonly called the World Bank. This organization, 3 in Washington, D.C., is owned by over 125 member countries. Each of them contributes 4 to its operations. The largest 5 are the major industrial countries of North America and Europe.

单选题 Directions: In this section, you will hear three 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.{{B}}Passage One{{/B}}

单选题{{B}}Passage Two{{/B}} A major type of risk that banks face is credit risk or the failure of a counter-party to perform according to a contractual arrangement. This risk applies not only to loans but also to other on-and-off balance sheet exposures such as guarantees, acceptances and securities investments. Serious banking problems have arisen from the failure of banks to recognize impaired assets, to create reserves for writing off these assets, and to suspend recognition of interest income when appropriate.