单选题{{B}}Passage Two{{/B}} Banks face losses from three sources : their own position if short or long in a particular currency; dealing positions taken by employees who gamble with the bank's money; and defaults by counter-parties to forward exchange contracts and covering transactions. These risks were well illustrated by events in 1974: Bankhaus Herstatt, cologne, collapsed due largely to losses on its foreign exchange exposures; Lloyds Bank, Lugano, lost USD77 million due to unauthofised trading by staff. Herstatt's closure by the Bundesbank during working hours left many banks with unfulfilled foreign exchange transactions. Since then banks and authorities have tightened their control. Banks still take a position on foreign currencies and put traders on commission to speculate on their behalf, but mainly on within-day trading or on overnight positions. On longer-term positions banks aim to match liabilities and claims in a particular currency or cover the difference in the swap market.

单选题 Passage 3 Credit cards are an important part of American life. Whether we have a positive or negative image of credit cards, they are an inescapable part of our finances, either now or in the future. Without a credit card, it's just about impossible to rent a car, make a hotel or airline reservation, or even get a membership at a video store. Since credit cards are so important, yet so many people are in financial trouble because of them, we feel education is extremely important. We want to show our customers that credit cards are not toys; they are an important responsibility. A credit card can be used to "charge" things like clothes, tapes or C. D. 's, dinner at a restaurant, or maybe a hotel room while you're on vacation. When you charge something, you are agreeing to pay for your purchase at a later date. Basically, you are buying something now and paying for it later. Credit cards come with a "limit". Let's say your credit card has a limit of USD100.00. That means you can charge up to USD100.00 worth of items on your card. You will get a statement in the mail each month that lists the charges you have made. You will also have to make a payment every month that you have a balance owing. You can either make a minimum payment or you can pay any amount above that minimum payment up to the full amount. Don't worry about figuring out your minimum payment--your statement will tell you what it is. Of course, we highly recommend you pay your bill in full each month.

单选题Considering purchasing KH Company, you are evaluating KH's revenue generalizing ability. Then the following inventory valuation errors have been discovered. ·the 2000 year end inventory was overstated by ＄23,000 ·the 2001 year end inventory was understated by ＄61,000 ·the 2002 year end inventory was understated by ＄17,000 And the report income before taxes for KH was: Year Income before taxes 2000 ＄138,000 2001 ＄254,000 2002 ＄168,000 Required: (a)How much should the reported income before taxes have been for the years 2000, 2001 and 2002? (b)Discuss if 2000 year end inventory's overvaluation will influence file 2002 year's report income before taxes or not.

单选题I wrote a check for more money than I have in my account. I'm afraid I'm ______.

单选题Repricing risk comes from ______.

单选题There are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection that is documents against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view the order of preference is ______.

单选题While expanding the scope of bills eligible for discount, the ceiling on discount interest rate will be, gradually increased in support of the market - based interest rate reform.

单选题The data on external debts are not to be revealed to the public.

单选题A.Theminimumdepositreserve.B.Adjustingthebaseinterestrate.C.Regulatingrediscounting.D.Openmarketoperations.

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.