单选题The spot rate of United States dollars is 1.59～1.60; the three month premium is 0.50～0.45 cents. What is the rate at which a UK bank would buy dollars under a three -month fixed forward contract?

单选题The applicants sometimes provide short - term loans to the beneficiary.

单选题Mr. Wong is a small company. And it failed to record every transaction. Now you are provided with the following information: capital at 1 January 2003 is ＄30,000, capital at 31 December 2003 is ＄31,000. During 2003, drawings are ＄2,000. Then the net profit for the year 2003 is ______. (a)＄3,000. (b)＄-1,000. (c)＄1,000. (d)＄-3,000.

单选题The middleman will approach the ultimate buyer and ask him to arrange a transferable documentary credit in his (the middleman's) favour. Here "in the middleman's favour" means that ______.

单选题A forward exchange rate can move for two reasons: (1) because the spot rate moves, and (2) ______. A. because of changes in interest rate which affect the forward rates B. because of changes in interest rate which affect the forward differential C. for the changes in interest rate affect the forward rates D. because of changes in interest rate which affect the spot rates

单选题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At 1 January 2003, the balance of Billy Company's Provision for Bad Debts is ＄5,000. At 31 December 2003, the balance of trade debtors is ＄45,000. Billy Company's provision for bad debts equals to 10% of trade debtors. During the year 2003, the bad debt written off is＄2,000. Then Bad Debt expenses of Billy Company this year must be ______. (a)＄2,500. (b)＄1,500. (c)＄-1,500. (d)＄-2,5OO.

单选题Compared with an otherwise identical amortizing security, a zero-coupon bond will most likely have: ()

单选题A.billofladingB.documentaryletterC.letterofcreditD.insurancedocument

单选题Current deposits are money because they are ______. (a)legal tender. (b)fiat money. (c)token money. (d)a medium of exchange.

单选题Questions concerning the consequence of breach of contract and exemptions from liability ______.

单选题Karen, CFA, is the investment manager of a corporate pension plan. Under ERISA, she owes her fiduciary duty to: ()

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 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.

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单选题A syndicated loan is a loan arranged by a lead bank between borrower, itself, and a group of other banks that are parties to the original credit agreement. These syndicated banks share credit information and credit risk. A syndicated loan is a large credit, generally more than USD10 million, negotiated between a borrower and a single bank, but actually funded by several other banks. The negotiating or "lead" bank has often won the "mandate" from a number of competitors and has often underwritten a large portion of the credit and is responsible for organizing the syndication which includes inviting other banks to act as manager/ co - manager in providing additional underwriting support to the credit before going to market for general syndication to "participants". The resulting credit is governed by a single loan agreement signed by the borrower and all of the banks involved.

单选题Decreasing returns to scale may arise from ______. (a)specialization of inputs. (b)duplication of plant and equipment at equal cost. (c)inefficiencies in management. (d)using inputs in unequal proportions.

单选题A.Becauseitcostslesstosendtravellerschequesbyinsuredpostthansendcash.B.Becausetherateforcashisbetterthanthatfortravellerscheques.C.Becauseitcostsmoretosendtravellerschequesbyinsuredpost.D.Becauseitcostsmoretosendtravellerschequesbyinsuredpostthansendcash.

单选题The stock owner may cast all these ______ votes for one director or divide them among several.