单选题Capital is at the top of any bank supervisor's list. The most basic form of capital is equity capital, which is the shareholder's financial interest or net worth. Equity capital serves several purposes: it provides a permanent source of revenue for the shareholders and funding for the bank; it is available to bear risk and absorb losses; it provides a base for further growth; and it gives the shareholders reason to ensure that the bank is managed in a safe and sound manner. Minimum capital adequacy ratios are necessary to reduce the risk of loss to depositors, creditors and other stakeholders of the bank and to help supervisors pursue the overall stability of the banking industry. Basle Committee's "core principles for effective banking supervision" require that supervisions set prudent and appropriate minimum capital adequacy requirements and encourage banks to operate with capital in excess of the minimum. When it appears appropriate due to the particular risk profile, uncertainties regarding the asset quality, risk concentrations or other adverse characteristics of a bank's financial condition, considerations of requiring higher than minimum capital ratios are encouraged. If a bank's ratio falls below the minimum, banking supervisions will act to ensure that it has realistic plans to restore the minimum in a timely fashion, or may consider putting additional restrictions on the bank's operations.
单选题Repurchase agreements are short - term ______ loans used by securities dealers and other market participants.
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单选题Types of risks So far we have used the term "risk" rather loosely. One type of risk is default risk, that is, the risk that the borrower will simply not repay the loan, due to either dishonesty or plain inability to do so. Another type of risk, called purchasing - power risk, is the risk that, due to an unexpectedly high inflation rate, the future interest payments, and the principal of the loan when finally repaid, will have less purchasing power than the lender anticipated at the time the loan was made. A similar risk is faced by borrowers. A borrower may cheerfully agree to pay, say, 15 percent interest, expecting that a 12 percent inflation rate will reduce the real value of the loan. But inflation may be only 4 percent. A third type of risk is called "interest - rate risk" or "market risk", that is, the risk that the market value of a security will fall because interest rates will rise. We will discuss this further later; here we just present the intuitive idea. Suppose that five years ago you bought a ten-year 1 000 bond carrying a 6 percent interest rate, and tile interest rate now obtainable on similar bonds also have five years to go until they mature is 8 percent. Would anyone pay 1 000 for your bond? Surely not, because they could earn 80 per year by buying a new bond, and only 60 per year by buying your bond. Hence, to sell your bond you would have to reduce its price. But suppose the bond, instead of having five years to maturity, would mature in, say, ninety days, what would its price be then? It would still be less than 1 000 since the buyer would get 6 percent instead of 8 percent interest for ninety days; but since getting a lower interest sell for only ninety days does not involve much of a loss, the bond would sell for something close to 1 000. Hence, while holding any security with a fixed interest rate involves some interest - rate risk, the closer to maturity a security is, the lower is this risk. On the other hand, if interest rates fall you gain because your bond is worth more; and the longer the time until the bond matures, the greater is your gain. But the fact that you may gain as well as lose does not mean that you are taking no risk. Diversification All three types of risks are relevant for deciding what assets to include in a portfolio, and what debts to have outstanding. (The term portfolio means the collection of assets one owns.) Anyone holding more than one type of asset has to consider not the risk of each asset taken by itself, but the totality of the risk on various assets and debts jointly. Suppose someone holds stock in a company that is likely to gain from inflation. The riskiness of a portfolio that combines both of these stocks may be less than the riskiness of each stock taken separately. A port- folio consisting of assets that are affected in opposite directions by given future events is less risky than are the assets that compose it when taken individually. Hence a low-risk portfolio need not contain only assets that individually have little risk; sometimes one reduces the riskiness of a portfolio by adding some high - risk assets that offset the risks of other assets in it.
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The importer will require a full set of
bills of lading in order to obtain the goods from overseas port. The bills of
lading can only be obtained by payment of the bill of exchange (D/P), or by
acceptance (D/A). Therefore, the importer cannot obtain the goods without paying
or accepting the bill of exchange, and conversely an exporter retains control of
the goods until payment or acceptance of bill of exchange. When goods are sent
by air, the airway bill could show the importer's bank as consignee. Once again
the importer must pay or accept a bill of exchange to be able to obtain the
goods. Once the importer has paid or accepted the bill of exchange, the
importer's bank will issue a delivery order. The delivery order is an authority,
signed on behalf of the bank, authorizing the airport to release the goods to
the named importer. An exporter should obtain the prior agreement of the
importer's bank before he consigns goods to that bank. In practice, the
importer's bank will not agree to be named as consignee, unless its own customer
is of major importance. When D/P terms are used, it is
unnecessary to include a bill of exchange, since the over- seas bank can release
documents on payment of the invoice amount. However, sight drafts are usually
included.
单选题The Central Bank in the open market buying and selling of securities is designed to: ()
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{{B}}Section One{{/B}}
Directions: In this section, you will hear short statements. Each statement will be spoken only once. After each statement there will be a pause. During the pause, you must read tile four suggested answers marked A, B, C and D, and decide which is the best answer. Then mark the corresponding letter on fire: ANSWER SHEET with a single line through the center.
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 tile best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
单选题[此试题无题干]
单选题(a)List4importantfeaturesaboutbudgetarycontrol.(b)SunnyLtd.hasthefollowinginformationfortheyearended31December2003:{{U}}Budgeted{{/U}}{{U}}Actual{{/U}}Levelofactivity75%80%＄＄Costs:Directmaterials75,00075,000Directlabour225,000200,000Variableoverhead{{U}}37,500{{/U}}{{U}}43,000{{/U}}Totalvariablecost337,500318,000Fixedoverhead{{U}}150,000{{/U}}{{U}}170,000{{/U}}Required:PrepareaflexiblebudgetforSunnyLtd.fortheyearended31December2003.
单选题In order to withdraw money the bank requires your ______.
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单选题A promissory note is ______.
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}}
Underwriting simply means that the
investment banker promises to buy the {{U}}(56) {{/U}} . The investment
banks help design the securities and buy it from the {{U}}(57) {{/U}}
with the intent of selling it to {{U}}(58) {{/U}} as quickly as
possible. Usually, the issue is not subscribed to in its entirety by the
{{U}}(59) {{/U}} investment banker but is {{U}}(60) {{/U}} among
other institutions as well.
单选题[此试题无题干]
单选题If a market is in equilibrium ______.
(a)buyers and sellers can buy and sell all they wish at the current price.
(b)there is no tendency for the price to rise or fall.
(c)the quantity supplied equals the quantity demanded.
(d)All of the above are correct.
单选题As part of an AIMR investigation into the conduct of Helen, CFA, AIMR requests records from Helen about her investment accounts. Helen writes AIMR a letter stating that under Standard IV (B.5), Preservation of Confidentiality that she is unable to comply with their request. Which of the following statement is TRUE? ()
单选题Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. Which of the following is least likely to be classified as a financial statement element? ()
单选题By purchasing government securities commercial banks are ______. A. borrowing from the government B. acquiring earning assets C. making a "loan" to the government D. both B and C