单选题Investment banking helps the holders of the accumulated wealth who wish to re - allocate their assets in the financial markets.

单选题CharlesoperatesaretailbusinessinLondon.On30June2003,therewasafireinhisstore.Hisbooksofaccountandmostofhisstockweredestroyed.Thevalueoftheundamagedstockwasagreedat＄5,000.HisTradingAccountfortheyearended31December2002wasasfollows:＄＄Sales492,000Openingstock31,000Purchases{{U}}154,000{{/U}}185,000Less:Closingstock{{U}}37,400{{/U}}Grossprofit{{U}}147,600{{/U}}On1January2003,histradecreditorstotaled＄15,000andmonthlystatementsreceivedbyhiminearlyJulyshowedthatthetradecreditorson30June2003amountedto＄31,000.AllsalesinCharles'businessareonastrictcashbasisandhisstockisfullyinsured.Accordingtohisbankstatements,hereceived＄270,000fromcustomersandpaid＄69,000tosuppliersbetweenIJanuaryand30June2003.Charlesinformsyouthatheincreasedhissellingpricesby20%on1January2003butpurchasepriceshaveremainedunchangedforseveralyears.Required:CalculatethecostofthestocklostbyCharleson30June2003.

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 Fractional reserve banking is the practice of keeping only a traction of deposits in the form of reserves. Depository institutions (commercial banks, savings and loan associations, mutual savings banks, and credit unions) are able to do this because only a small fraction of their depositors is expected to turn up during any given day or week to withdraw their deposits. The bulk of deposits is invested in financial assets, from which the depository institutions earn most of their income. Those income-earning financial assets range from bills, notes, and bonds issued by private corporations and by the federal, state, and municipal governments to mortgage loans for housing. Each type of financial institution has a different type of portfolio of assets, which reflects their area of special expertise in managing financial assets. To demonstrate how depository institutions create money under the present system of fractional reserve banking, hypothetical example of a commercial bank, Southwest National Bank, will be used. It is assumed that federal regulations require Southwest National Bank to hold a percentage of its deposits in the form of cash reserves. This is the reserve requirement. The reserves may be held in the form of currency and coin on the premises, a form of reserves called vault cash, or they may be held in a deposit at a regional Federal Reserve Bank. Assume that the Southwest National Bank management, taking into account the reserve requirement and the projected amount of withdrawals arid deposits, decides to keep 20 percent of its deposits in rescues.

单选题The upper limit of the percentage of bank capital that may be extended to a private sector non - bank barrower is set at 10%.

单选题If a bank negotiates a credit, it will advance money to the beneficiary on presentation of the required documents and will charge interest on the advance from the date of the advance until such time as it receives reimbursement from the issuing bank. Such negotiation advances are said to with recourse, so that, if payment is not ultimately forthcoming from the issuing bank, the negotiating bank will be able to claim repayment from the beneficiary of the advance, plus interest.

单选题Lisa and Frank Edwards developed a ______ of monthly expenses to see how much money they would have left over to make loan payments on a refrigerator. A. data B. profile C. consumer credit

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单选题The acceptance credit ______.

单选题The sentence "if' an exporter sells goods on a one - off basis" means ______.

单选题The need for financial provision ______ not only to producers but also to consumers.

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单选题From a Chinese bank's point of view, the currency account which it maintains abroad is known as ______, while a RMB account operated in China for a foreign bank is termed A. a vostro account...a nostro account B. a nostro account...a vostro account C. a mirror account...a nostro account D. a vostro account...a mirror account

单选题 There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. Although money is traded in all markets, the reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are traded in secondary markets. Finns that specialize in trading either new or reissued financial assets are called primary and secondary dealers, respectively. Both new and reissued securities are traded in many markets, such as the U. S money market. The New York Stock Exchange, however, is a secondary market.

单选题HubGlobal,Inc.hasissuedtwoclassesofdebtsecuritiestofinanceitsoperations,afirstmortgagebondanddebenturebonds.Allelseequal,willthedefaultandrecoveryratesofthedebenturelikelybehigherthanthefirstmortgagebond?()

单选题If a promissory note is not paid on time, it cannot be protested.

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 the 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Which of the following would NOT cause a shift upward of the consumption schedule? ()

单选题According to The Basle Committee's "Core principles fur effective banking supervision", banks are not encouraged to operate with capital lower than the minimum.

单选题{{B}}Passage Two{{/B}}

单选题For managerial account, variable cost means ______.