单选题Correspondent banking faces a problem of definition. Five years ago the business was preoccupied with electronic funds transfer. The spread of Swift's messaging network and the developing of the equally efficient clearing systems promised to elevate the medium through which banks communicate and fitted the traditional concept of correspondent banks talking to each other. By streamlining this function, however, the nature of the business changed and the importance of nurturing interbank relationships dwindled in the eyes of some correspondent bankers. Technology tends to lead to concentration, because the customer has gone to the bank that is bigger and faster, and can handle more volume, explains Ian Cormack, who heads Citicorp's financial institutions group in London and sits on the council of the clearing system in the UK. Moving or receiving money has always been at the heart of interbank activity. Lawrence Grand, international banking director at Barclays, makes the fundamental point that correspondent banking will always exist in a world where banks have to talk to other banks to conduct money transmissions. This view is shared at Manufacturers Hanover, where Joseph Long-aberdi, a banking vice president and senior representative, believes funds transfer business is still the major product over which correspondent banks wage battle. But while the need to balance interbank accounts remains a core function of the business, the complexion of the funds passing through the payments system has altered dramatically. The rise and rise of financial activity has displaced trade - related flows, particularly in the period after Big Bang, until today around 90 per cent of the business consists of financial transactions, estimates Mr. Cormack. Volumes continue to rise significantly in the major clearing centres, largely feeding off growth in securities processing and foreign exchange. The value of dollar - dominated transactions passing through New York's clearing house inter - bank payments system (Chips) increased by 23.7 percent last year to a daily average of $ 526 billion, equivalent to 126 840 transactions a day, and compared with $ 425 billion and 113 758 transactions in 1986. In London's sterling market the value of daily transactions passing through the clearing house automated payments system (Chaps) climbed by 28.5 percent in the year ending March 1988 to ￡45 billion, or 23 441 transactions a day, compared with ￡3 billion and 20 958 in the previous months. Keeping pace with growth has not been easy, particularly for the banks which for reasons of size, cost and strategy have been confined to a marginal role in the business. Commitment to the technological infrastructure is vital. Five years ago Manufacturers Hanover had 75 million invested in a worldwide telecommunications network. Anyone who baulked at such an investment five years ago would find it difficult to enter the market today.

单选题The People's Bank of China shall ______ and exercise supervision and control over the financial industry under the leadership of the State Council. A. formulate and implement monetary policies B. invent and use monetary policies C. provide and harness monetary policies D. create and apply monetary policies

单选题The reliability principle requires that accounting information be dependable--free from significant error and bias. Users of accounting information rely on its truthfulness. To be reliable, information must be verifiable by people outside the business; Financial statement users may consider information reliable if independent experts would agree that the information is based on objective and honest measurement. Consider the error in a company's failure to accrue interest revenue at the end of an accounting period. This error results in understated interest revenue and understated net income. Clearly, this company's accounting information is unreliable. Biased information -- data prepared from a particular viewpoint and not based on objective facts -- is also unreliable. Suppose a company purchased inventory for $ 25. 000. At the end of the accounting period, the inventory had declined in value and can be replaced for $ 20 000. Under the lower of cost or market rule, the company must record a $ 5 000 loss for the decrease in the inventory's value. Company management may believes that the appropriate value for the inventory is $ 22 000, but that amount is only an opinion. If management reports the $ 22 000 figure, total assets and owner's equity will be overstated on the balance sheet. Income will be overstated on the income statement. To establish a reliable figure for the inventory's value, management could get a current price list from the inventory supplier or call in an outside professional appraiser to revalue the inventory. Evidence obtained from outside the company leads to reliable, verifiable information. The reliability principle applies to all financial accounting information --from assets to owner's equity on the balance sheet and from revenue to net income on the income statement.

单选题Cash advances under factoring are not loans, since ______.

单选题Based on Exhibit 1, the underlying economic pension expense ($ millions) for Duban for 2007 would be closest to: ()

单选题He wants to get a loan to ______ some improvements in his factory. A. fluctuate B. adjust C. finance

单选题______ money refers to currency issued on the basis of bank's credit instead of gold reserve.

单选题A.Retailbusinessneedsalotofcash.B.Wholesalebusinessneedsonlycreditcards.C.Retailandwholesalebusinessesarequitethesame.D.Retailandwholesalebusinessesaredoneindifferentways.

单选题Possible masons for unbalanced statements are ______.

单选题[此试题无题干]

单选题Forfaiting is a method of providing non - recourse ______.

单选题 Passage 3 Secured loans involve the pledge of specific collateral. An example is a loan that is secured by a chattel mortgage on an automobile or some other form of personal property. Pledged collateral for secured loans may consist of a variety of assets such as real estate, warehouse receipts, accounts receivable, plants and equipment, trust receipts, negotiable bills of lading, oil runs, corporate stocks, and bonds. The basic requirement of such assets is marketability. The main reason for requesting that a loan be secured is to reduce the bank's risk of loss in the event the borrower is unwilling or unable to repay the loan at maturity. Security does not assure that the loan will be repaid; however, it does reduce the risk, since the hank becomes a preferred creditor in the event of liquidation, and takes precedence over general creditors in the liquidation of any assets pledged to the bank as collateral. The value of the assets securing a loan may deteriorate, and this deterioration, coupled with a forced sale, may not furnish sufficient funds to cover the indebtedness. In arranging security for a loan, it is imperative that the bank obtain the primary claim to the collateral and that its value be as great as, or greater than, the amount of the loan. Should the value of the collateral exceed the amount of the loan, and the bank be forced to liquidate it because of default on the part of the borrower, the excess is returned to the borrower. In the event the security is not sufficient to cover the loan, the bank can in some instances obtain, through court proceedings, a deficiency judgment for the difference. This entitles the bank to a claim on additional property or income, should the borrower have any. In recent years some states have enacted legislation limiting the use of deficiency judgments in the area of consumer lending. In most instances this has taken the form of eliminating the deficiency judgment when the loan is reduced below a certain level. The objective of limiting deficiency judgments was to reduce overcharging on consumer durable goods at the retail level. The limitation was later extended to lenders as well. Limiting the use of the deficiency judgment has increased the risk of lending and will eventually reduce the availability of credit to certain borrowers. Consumer credit will, to an increasing extent, be made available only to those borrowers who have a good, well-established credit record.

单选题From the bank’s point of view, a liberal leverage calculation is better.

单选题In an extreme case--bankruptcy--the owner's ___ will be repaid only after everyone else has received what they are owed.

单选题Incoterms provides for ______.

单选题Government - to - government bilateral loans are generally in the form of grants or credits with very low interest rates and long maturities. The closest meaning of bilateral is ______. A. bilingual B. bilabial C. a double side D. biped

单选题{{B}}Section One{{/B}} Directions: There are three passages in this section. Each passage is followed by some questions or unfinished statements. For each of them, there are four choices marked A, B, C and D. Passage 1 Banking organizations are highly geared, much more than commercial or industrial companies. They have custody of large volume of monetary items, which makes them vulnerable to misappropriation and fraud. They therefore need to establish formal operating procedures, well defined limits for individual discretion rigorous system of internal control. Banking organizations engage in a large volume and variety of transactions. This necessarily requires complex accounting and internal control system and widespread use of electronic data processing. Banking organizations often assume significant commitments without any transfer of funds. These items may not involve accounting entries and consequently the failure to record such items may be difficult to detect. And most importantly, the failure of a bank, unlike most commercial firms, affects more than the fortunes of its shareholders and creditors, and may destabilize the whole economy. Effective supervision of banking organizations is an essential component of a strong economic environment in that the banking system plays a central role in making payments and mobilizing and distributing savings. Strong and effective banking supervision provides a public good that may not be readily available in the marketplace. Along with effective macroeconomic policy, it is critical financial stability in any country. While the cost of banking supervision is indeed high, the cost of poor supervision has proved to be even higher. For all these reasons, banks throughout the world are generally accorded a higher degree of official, supervision and regulation than other types of businesses. At the same time, banks are also provided with important elements of official protection. For example, the central bank usually acts as a lender of last resort to protect commercial banks against a temporary liquidity drain. This protection is an important component of the official safety net bank stopping the banking system. Another major aspect of that safety net takes the form of deposit insurance fund to guarantee bank depositors that they will get their money back in the event of a bank failure.

单选题A.TheFedraisedinterestrateby0.25%.B.TheFedwantedtolowertheunemploymentrate.C.TheFedwantedtocontrolinflation.D.TheFedincreasedtwokeyinterestrates.

单选题With the advent of Web- based commerce, start - ups are not a threat to other companies.

单选题Low asset quality might affect a bank's capital ratio or even lead to the bankruptcy of the bank.