國際金融中英文版復(fù)習(xí)資料

國際金融中英文版國際金融中英文版Chapter2:PaymentsamongNationsSingle-ChoiceQuestions1.Acountry’sbalanceofpaymentsrecords:一個(gè)國家的國際收支平衡記錄了Ba.Thevalueofallexportsofgoodsandservicesfromthatcountryforaperiodoftime.b.Allflowsofvaluebetweenthatcountry?sresidentsandresidentsoftherestoftheworldduringaperiodoftime在一定時(shí)間段里一個(gè)國家居民的資產(chǎn)和其它世界居民資產(chǎn)的流動c.Allflowsoffinancialassetsthatcrossthatcountry?sbordersduringaperiodoftime.d.Allflowsofgoodsintothatcountryduringaperiodoftime.2.Acredititeminthebalanceofpaymentsis:在國際收支平衡里的貸項(xiàng)是Aa.Anitemforwhichthecountrymustbepaid.一個(gè)國家必須收取的條款b.Anitemforwhichthecountrymustpay.c.Anyimporteditem.d.Anitemthatcreatesamonetaryclaimowedtoaforeigner.3.Everyinternationalexchangeofvalueisenteredintothebalance-of-paymentsaccounts__________time(s).每一次國際等價(jià)交換都記進(jìn)國際收支帳戶２次Ba.1b.2c.3d.44.Adebititeminthebalanceofpaymentsis:在國際收支平衡中的借項(xiàng)是Ba.Anitemforwhichthecountrymustbepaid.b.Anitemforwhichthecountrymustpay.一個(gè)國家必須支付的條款c.Anyexporteditem.d.Anitemthatcreatesamonetaryclaimonaforeigner.5.Inanation'sbalanceofpayments,whichoneofthefollowingitemsisalwaysrecordedasapositiveentry?D在國際收支中以下哪個(gè)工程總被視為有利條項(xiàng)a.Changesinforeigncurrencyreserves.b.Importsofgoodsandservices.c.Militaryforeignaidsuppliedtoalliednations.d.Purchasesbyforeigntravelersvisitingthecountry.國外游客在本國發(fā)生的購置6.Thesumofallofthedebititemsinthebalanceofpayments:在收支平衡中所有貸項(xiàng)的總和Ba.Equalstheoverallbalance.b.Equalsthesumofallcredititems.等于所有借項(xiàng)的總和c.Equals?compensating?transactions.d.Equalsthesumofcredititemsminuserrorsandomissions.7.WhichofthefollowingcapitaltransactionsareenteredasdebitsintheU.S.balanceofpayments?以下哪個(gè)資本交易在美國的收支平衡中當(dāng)作借項(xiàng)？Ba.AU.S.residenttransfers$100fromhisaccountatCreditSuisseinBasel(Switzerland)tohisaccountataSanFranciscobranchofWellsFargoBank.b.AFrenchresidenttransfers$100fromhisaccountatWellsFargoBankinSanFranciscotohisCreditSuisseaccountinBasel.一個(gè)法國居民在舊金山的FargoBank用其帳戶轉(zhuǎn)帳１００美金到位于巴塞爾的瑞士信貸戶口c.AU.S.residentsellshisIBMstocktoaFrenchresident.d.AU.S.residentsellshisCreditSuissestocktoaFrenchresident.8.Anincreaseinanation'sfinancialliabilitiestoforeignresidentsisa:一個(gè)國家對另一個(gè)國家金融負(fù)債的增加是一種Ca.Reserveinflow.b.Reserveoutflow.c.Capitalinflow.資本流入d.Capitaloutflow.9___A_______aremoney-likeassetsthatareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.官方國際儲藏資產(chǎn)是一種類似于錢的資產(chǎn)，這種資產(chǎn)由政府掌握并作為政府間的一種支付手段得到充分認(rèn)可.a.Officialinternationalreserveassets官方國際儲藏資產(chǎn)b.Unofficialinternationalreserveassetsc.Officialdomesticreserveassetsd.Unofficialdomesticreserveassets10.Whichofthefollowingisconsideredacapitalinflow?以下哪項(xiàng)被視為資本流入Aa.AsaleofU.S.financialassetstoaforeignbuyer.美國一金融資產(chǎn)賣給一外國買家b.AloanfromaU.S.banktoaforeignborrower.c.ApurchaseofforeignfinancialassetsbyaU.S.buyer.d.AU.S.citizen?srepaymentofaloanfromaforeignbank.11.Inacountry?sbalanceofpayments,whichofthefollowingtransactionsaredebit?一個(gè)國家的收支平衡表中,哪個(gè)交易屬于借項(xiàng)？Aa.Domesticbankbalancesownedbyforeignersaredecreased.外國人擁有的國內(nèi)銀行資產(chǎn)的下降b.Foreignbankbalancesownedbydomesticresidentsaredecreased.c.Assetsownedbydomesticresidentsaresoldtononresidents.d.Securitiesaresoldbydomesticresidentstononresidents.12.Theroleof___D_______istodirectonenation’ssavingsintoanothernation?sinvestments:資金流的作用是指導(dǎo)一個(gè)國家的儲蓄進(jìn)入到另一個(gè)國家的投資a.Merchandisetradeflowsb.Servicesflowsc.Currentaccountflowsd.Capitalflows資金流13.Thenetvalueofflowsofgoods,services,income,andunilateraltransfersiscalledthe:商品效勞,收入和單方面轉(zhuǎn)讓等現(xiàn)金流的凈收益叫經(jīng)常賬目〔戶〕Ba.Capitalaccount.b.Currentaccount.經(jīng)常賬目〔戶〕c.Tradebalance.d.Officialreservebalance.14.Thenetvalueofflowsoffinancialassetsandsimilarclaims(excludingofficialinternationalreserveassetflows)iscalledthe:金融資產(chǎn)和類似的資產(chǎn)〔官方國際儲藏資產(chǎn)流除外〕的凈值流叫AFinancialaccount.金融帳b.Currentaccount.c.Tradebalance.d.Officialreservebalance.15.ThefinancialaccountintheU.S.balanceofpaymentsincludes:美國國家收支表中的金融帳包括：Ba.Everythinginthecurrentaccount.b.U.S.governmentpaymentstoothercountriesfortheuseofmilitarybases.美政府采用其它國家軍事基地所需支付款項(xiàng)c.ProfitsthatNissanofAmericasendsbacktoJapan.d.NewU.S.investmentsinforeigncountries.16.ＡU.S.residentincreasingherholdingsofaforeignfinancialassetcausesa:一個(gè)美國居民增持一外國金融資產(chǎn)會引起Da.CreditintheU.S.currentaccount.b.DebitintheU.S.currentaccount.c.CreditintheU.S.capitalaccount.d.DebitintheU.S.capitalaccount.美國資本帳的借帳17.AforeignresidentincreasingherholdingsofaU.S.financialassetcausesa:一個(gè)美國居民增持本國一金融資產(chǎn)會引起Ca.CreditintheU.S.currentaccount.b.DebitintheU.S.currentaccount.c.CreditintheU.S.capitalaccount.美國資本帳的貸帳d.DebitintheU.S.capitalaccount.18.Adeficitinthecurrentaccount:經(jīng)常帳戶中的赤字Aa.Tendstocauseasurplusinthefinancialaccount.會導(dǎo)致金融帳中的盈余b.Tendstocauseadeficitinthefinancialaccount.c.Hasnorelationshiptothefinancialaccount.d.Istheresultofincreasingexportsanddecreasingimports.19.InSeptember,2005,exportsofgoodsfromtheU.S.decreased$3.3billionto$73.4billion,andimportsofgoodsincreased$3.8billionto$144.5billion.Thisincreasedthedeficitin:2005年8月,美國商品出口降低了33億美元,共734億美元；商品進(jìn)口上升到1145億美元,上長了38億.這樣增加了哪個(gè)方面的赤字？Ca.Thebalanceofpayments.b.Thefinancialaccount.c.Thecurrentaccount.經(jīng)常帳戶d.Unilateraltransfers.20.WhichofthefollowingwouldcontributetoaU.S.currentaccountsurplus?以下哪項(xiàng)有助于美國現(xiàn)金帳的盈余？Ba.TheUnitedStatesmakesaunilateraltariffreductiononimportedgoods.b.TheUnitedStatescutsbackonAmericanmilitarypersonnelstationedinJapan.美國削減在日本的軍事人員c.U.S.touriststravelinlargenumberstoAsia.d.RussianvodkabecomesincreasinglypopularintheUnitedStates.21.Whichofthefollowingtransactionsisrecordedinthefinancialaccount?以下哪個(gè)交易會被當(dāng)作金融帳Aa.FordmotorcompanybuildsanewplantinChina福特摩托公司在中國設(shè)立車間b.AChinesebusinessmanimportsFordautomobilesfromtheUnitedStates.c.AU.S.touristspendsmoneyonatriptoChina.d.TheNewYorkYankeesarepaid$10millionbytheChinesetoplayanexhibitiongameinBeijing,China.22.IfaBritishbusinessbuysU.S.governmentsecurities,howwillthisbeenteredinthebalanceofpayments?如果一英國商人購置了美國政府的債,那么這個(gè)交易在收支平衡表中會被當(dāng)作是？Ca.Itwillappearinthetradeaccountasanimport.b.Itwillappearinthetradeaccountasanexport.c.ItwillappearinthefinancialaccountasanincreaseinU.S.assetsheldbyforeigners.會被當(dāng)作是外國人所有的美國資產(chǎn)增長d.ItwillappearinthefinancialaccountasadecreaseinU.S.assetsheldbyforeigners.23.Inthebalanceofpayments,thestatisticaldiscrepancyorerrortermisusedto:在收支平衡表中,統(tǒng)計(jì)差異與錯(cuò)誤工程會用來確保借帳總和跟貸帳總和一致Aa.Ensurethatthesumofalldebitsmatchesthesumofallcredits.b.Ensurethatimportsequalthevalueofexports.c.Obtainanaccurateaccountofabalance-of-paymentsdeficit.d.Obtainanaccurateaccountofabalance-of-paymentssurplus.24.Officialreserveassetsare:官方儲藏資產(chǎn)是Ba.Thegoldholdingsinthenation’scentralbank.b.Moneylikeassetsthatareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.官方國際儲藏資產(chǎn)是一種類似于錢的資產(chǎn)，這種資產(chǎn)由政府掌握并作為政府間的一種支付手段得到充分認(rèn)可c.GovernmentT-billsandT-bonds.d.GovernmentholdingsofSDR’s25.Whichofthefollowingconstitutesthelargestcomponentoftheworld?sinternationalreserveassets?以下哪項(xiàng)構(gòu)成了世界國際儲藏資產(chǎn)的大部份？Da.Gold.b.SpecialDrawingRights.c.IMFReservePositions.d.ForeignCurrencies.外匯〔幣〕26.Thenetaccumulationofforeignassetsminusforeignliabilitiesis:海外凈資產(chǎn)的積累減去外債等于Ca.Netofficialreserves.b.Netdomesticinvestment.c.Netforeigninvestment.國外投資凈值d.Netforeigndeficit.27.Acountryexperiencingacurrentaccountsurplus:一個(gè)國家經(jīng)歷經(jīng)常帳戶的盈余Ba.Needstoborrowinternationally.b.Isabletolendinternationally.就有能力向外放貸c.Mustalsohavehadasurplusinits"overall"balance.d.Spentmorethanitearnedonitsmerchandiseandservicetrade,internationalincomepaymentsandreceiptsandinternationaltransfers.28.The___C_______measuresthesumofthecurrentaccountbalanceplustheprivatecapitalaccountbalance.官方結(jié)算差額是指經(jīng)常帳戶余額的總和加上私人資本帳〔B=CA+FA,FA:為非官方投資和儲藏〕a.Officialcapitalbalanceb.Unofficialcapitalbalancec.Officialsettlementsbalance官方結(jié)算差額d.Unofficialsettlementsbalance29.Iftheoverallbalanceisin__A________,thereisanaccumulationofofficialreserveassetsbythecountryoradecreaseinforeignofficialreserveholdingsofthecountry'sassets.如果綜合差額處于盈余，那么會出現(xiàn)本國官方儲藏資產(chǎn)的積累或者國外官方儲藏的減少〔B=CA+FA,B+OR=，OR:官方儲藏金額〕a.Surplus盈余b.Deficitc.Balanced.Foreignhands30.WhichofthefollowingisthecurrentaccountbalanceNOTequalto?以下哪項(xiàng)不等同于經(jīng)常工程Da.Thedifferencebetweendomesticproductanddomesticexpenditure.b.Thedifferencebetweennationalsavinganddomesticinvestment.c.Netforeigninvestment.d.Thedifferencebetweengovernmentsavingandgovernmentinvestment.政府儲蓄與政府投資的差值True/FalseQuestions31.Capitalinflowsaredebitsandcapitaloutflowsarecredits.資金流入是借項(xiàng)，資金外流是貸項(xiàng)32.Thenetvalueoftheflowofgoods,services,income,andgiftsisthecurrentaccountbalance.(T)商品,效勞,收入和單方面轉(zhuǎn)讓等現(xiàn)金流的凈收益叫經(jīng)常賬目余額33.Thenetflowoffinancialassetsandsimilarclaimsistheprivatecurrentaccountbalance.金融資產(chǎn)和類似的資產(chǎn)的凈值叫經(jīng)常帳目余額34.Themajorityofcountries'officialreservesassetsarenowforeignexchangeassets,financialassetsdenominatedinaforeigncurrencythatisreadilyacceptableininternationaltransactions.(T)大部份官方儲藏資產(chǎn)作為以外匯資產(chǎn)和金融資產(chǎn)為命名的外幣在世界上交易與流通.35.Acountry'sfinancialaccountbalanceequalsthecountry'snetforeigninvestment.一個(gè)國家的金融帳差額相當(dāng)于一個(gè)國家的凈國外投資36.Acountryhasacurrentaccountdeficitifitissavingmorethanitisinvestingdomestically.一個(gè)國家如果在國內(nèi)的儲蓄比投資要大,那么會出現(xiàn)經(jīng)常賬目赤字37.Theofficialsettlementsbalancemeasuresthesumofthecapitalaccountbalanceplusthepubliccurrentaccountbalance.官方結(jié)算差額是資金帳戶余額的總額加上公共經(jīng)常帳戶余額38.Anation'sinternationalinvestmentpositionshowsitsstockofinternationalassetsandliabilitiesatamomentintime.(T)一個(gè)國家的國際投資狀況反映出它在特定時(shí)間里的國際資產(chǎn)股份以及債務(wù)情況.39.Anationisaborrowerifitscurrentaccountisindeficitduringatimeperiod.(T)在一段時(shí)間內(nèi),如果一個(gè)國家的經(jīng)常帳出現(xiàn)赤字,那么它就是借方.40.Anationisadebtorifitsnetstockofforeignassetsispositive.如果一個(gè)國家的國外資產(chǎn)凈儲藏是正數(shù),那么它是借方〔債務(wù)方〕41.AtransactionleadingtoaforeignresidentincreasingherholdingsofaU.S.financialassetwillberecordedasadebitontheU.S.financialaccount.如果一項(xiàng)交易引起一外國居民增持美國金融資產(chǎn)的股份,那么這項(xiàng)交易在美國金融帳中會被當(dāng)作借項(xiàng)42.Acredititemisanitemforwhichacountrymustpay.貸項(xiàng)是指一個(gè)國家必須還款的條項(xiàng)43.Goldisamajorreserveassetthatiscurrentlyoftenusedinofficialreservetransactions.黃金作為主要的儲藏資產(chǎn),常被用在官方儲藏交易當(dāng)中.44.Thecurrentaccountbalanceisequaltothedifferencebetweendomesticproductandnationalexpenditure.(T)經(jīng)常工程余額等于國民生產(chǎn)與國民支出的差額45.In2007U.S.households,businessesandgovernmentwerebuyingmoregoodsandservicesthantheywereproducing.(T)2007年,美國家庭,商業(yè),政府購置的商品和效勞比他們生產(chǎn)〔商品和效勞〕的要多.46你是提供以下信息,一個(gè)國家的國際交易,在一個(gè)特定年份:Serviceexports$346Serviceimports$354Merchandiseexports$480Merchandiseimports$348Incomeflows,net$153Unilateraltransfers,net$142Increaseinthecountryholdingofforeignassets,net(excludingofficialreservesassets)$352Increaseinforeignholdingsofthecountryassets,net(excludingofficialreserveassets)$252Statisticaldiscrepancy,net$154CA余額:$346-354+480-348+153+142=$419；官方結(jié)算余額:$346-354+480-348+153+142+252-352+154=$473；Changeinofficialreserveassets(net)=官方結(jié)算余額=$473Chapter3:TheForeignExchangeMarketSingle-ChoiceQuestions1.Foreignexchangeis:D外匯交易是a.Theactoftradingdifferentnations?monies.不用國家貨幣的交易b.Theholdingsofforeigncurrency.對不同貨幣的持有c.Theactofimportingforeigngoodsandservices.d.Both(a)and(b)arecorrect.2.IfthepriceofBritishpoundsintermsofU.S.dollarsis$1.80perpound,thenthepriceofU.S.dollarsintermsofBritishpoundsis:B如果英磅對美元的匯率是1比1.8,那么美元對英磅的匯率是1比0.555a.1.80￡perdollar.b.0.555￡perdollar.c.0.90￡perdollar.d.3.60￡perdollar.3.SupposetheexchangeratebetweentheJapaneseyenandtheU.S.dollaris100yenperdollar.AJapanesestereowithapriceof60,000yenwillcost:B假設(shè)日元對美元的匯率是100比1,那么一臺日元為60000的音響要花多少美元a.$1,667b.$600c.$6,000d.$1004.SupposethataKoreantelevisionsetthatcosts600woninKoreacosts$400intheUnitedStates.Thesepricessuggestthattheexchangeratebetweenthewonandthedollaris:Awonperdollarb.0.75wonperdollarc.$1.50perwond.$3perwon5.The___D_______exchangerateisthepricefor“immediate〞currencyexchange.即時(shí)匯率是指外匯的即時(shí)價(jià)格a.Currentb.Forwardc.Futured.Spot6.The___B_______exchangerateisthepricesetnowforanexchangethatwilltakeplacesometimeinthefuture.遠(yuǎn)期匯率是指由協(xié)議雙方預(yù)訂的將來會發(fā)生的匯率a.Currentb.Forwardc.Futurespotd.Spot7.Theforeignexchangemarketis:C外匯市場是指a.Asinglegatheringplacewheretradersshoutbuyandsellordersateachother.b.LocatedinNewYork.c.Agrouping,byelectronicmeans,ofbanksandtraderswhoworkatbanksthatconductforeignexchangetrades.銀行和交易者以電子方式集聚于一起進(jìn)行外匯的買賣d.LocatedinLondon.8.___D_______foreignexchangetradinginvolvescurrencyexchangesdonebetweenindividualsandbanks.小額外匯交易〔散戶外匯交易〕包含私人與銀行間的外匯交易a.Interbankb.Consumerc.Intra-bankd.Retail9.TheU.S.dollariscalleda____A______becauseitisoftenusedasanintermediarytoaccomplishtradingbetweentwoothercurrencies.美元被稱為周轉(zhuǎn)貨幣,因?yàn)榻?jīng)常被用來完成其它兩種貨幣的交易a.Vehiclecurrency周轉(zhuǎn)貨幣〔交易通貨〕bMaincurrencyc.Commoncurrencyd.Primarycurrency10.SupposethattheexchangevalueoftheBritishpoundis$2perpoundwhiletheexchangevalueoftheSwissfrancis50centsperfranc.Fromthiswecanconcludethattheexchangeratebetweenthepoundandthefrancis:Da.1francperpoundb.2francsperpoundc.3francsperpoundd.4francsperpound11.WhichofthefollowingisNOTafunctionoftheinterbankoperationsoftheforeignexchangemarket?D以下哪一個(gè)不是外匯交易市場中銀行間操作方式的一種？a.Providesabankwithacontinuousstreamofinformationonconditionsintheforeignexchangemarket.b.Providesabankthemeanstoreadjustitsownpositionquicklyandatlowcost.c.Permitsabanktotakeonapositioninaforeigncurrencyquickly.d.Providesabankwithtechnologicalresourcesforuseinforeignexchangetrading.提供技術(shù)資源給一間銀行,用來進(jìn)行外匯交易12.Underthemanagedfloatsystemofexchangerates,afallinthemarketpriceofacurrencyiscalled:B在管理浮動匯率制度下,一種貨幣價(jià)格的下降被稱為a.Devaluation.b.Depreciation.貶值c.Appreciation.d.Both(a)and(b).13.Interbanktradingisconducteddirectlybetween___A_______orthroughtheuseof_________thatprovideanonymityuntilthetradeiscompleteandreducesearchcosts.銀行間的交易是在交易者之間進(jìn)行的或者通過經(jīng)紀(jì)人提供操作直到交易結(jié)束.a.Traders;brokersb.Brokers;tradersc.Individualconsumers;thegovernmentd.Individualconsumers;brokers14.Acountry’sdemandforforeigncurrencyisderivedfrom:一個(gè)國家對外匯的需求來自于〔表示外國貨幣需求增加，本國貨幣流出〕a.Internationaltransactionsenteringthedebitcolumnofitsbalanceofpaymentsaccounts.國際交易進(jìn)入到其收款帳戶的借方欄里b.Internationaltransactionsenteringthesurpluscolumnofitsbalanceofpaymentsaccounts.c.Thecountry’sdemandforcurrencytofinanceexportsandcapitalinflows.d.Thecountry’sdemandforcurrencytofinanceitsgovernment’scompensatingtransactions.15.U.S.exportsofgoodsandserviceswillcreatea___B_______foreigncurrencyanda______U.S.dollars.美國商品與效勞的出口會創(chuàng)造出外匯的供應(yīng)以及美元的需求a.Demandfor;supplyofb.Supplyof;demandforc.Shortageof;demandford.Supplyof;shortageof16.U.S.importsofgoodsandserviceswillcreatea___A_______foreigncurrencyanda_____U.S.dollars.美國商品與效勞的進(jìn)口會創(chuàng)造出外匯的需求以及美元的供應(yīng)a.Demandfor;supplyofb.Supplyof;demandforc.Shortageof;demandford.Supplyof;shortageof17.U.S.capitalinflowswillcreatea____B______foreigncurrencyanda__________U.S.dollars.美國資本流入會創(chuàng)造出外匯的供應(yīng)和美元的需求a.Demandfor;supplyofb.Supplyof;demandforc.Shortageof;demandford.Supplyof;shortageof18.Ina____C______exchangeratesystemthereisnointerventionbythegovernmentorcentralbankers.浮動匯率制度里,政府與中央銀行不得進(jìn)行干預(yù)a.Fixedb.Peggedc.Floatingd.Managedfloat19.AsthevalueoftheyenfallsrelativetotheU.S.dollar:C如果日元對美元的匯率下降了,那么對日元的需求會上升a.JapanesegoodsbecomemoreexpensivetoU.S.consumers.b.Thesupplyofdollarswillfall.c.Thedemandforyenwillrise.d.U.S.goodsbecomelessexpensivetoJapaneseconsumers.20.Thedemandcurveforforeigncurrencyslopesdownwardbecauseastheexchangerate___A_______thequantitydemanded__________.外匯的需求曲線會下降是因?yàn)殡S著匯率的上升,需求量就下降a.Increases;decreasesb.Increases;increasesc.Decreases;decreasesd.Decreases;staysfixed21.ShiftsindemandawayfromFrenchproductsandtowardU.S.products(causedbyforcesotherthanchangesintheexchangerate)wouldresultinextraattemptsto___C_______eurosand__________dollars.如果法國商品的需求下降并轉(zhuǎn)穩(wěn)到美國商品身上〔由外力而是匯率引起〕，會引起歐元的額外賣與美元的購入a.Buy;buyb.Sell;sellc.Sell;buyd.Buy;sell22.Otherthingsequal,ifAmericanexportstoJapanincreaseandAmericanimportsfromJapandecrease,thenunderafloatingexchangeratesystem,wewouldexpectthedollarto:D其它條件一樣的情況下，美國出口到日本的商品上升而美國進(jìn)口日本的商品下降，在浮動匯率制度下，美元將對日元走強(qiáng)。a.WeakenagainsttheJapaneseyen.b.DepreciateagainsttheJapaneseyen.c.DevalueagainsttheJapaneseyen.d.StrengthenagainsttheJapaneseyen.23.AdecreaseinGermanresidents'willingnesstoinvestindollar-denominatedassetswillshiftthedemandcurvefor:D德國居民投資于美元計(jì)價(jià)資產(chǎn)的意欲下降的話，美元的需求將會下降。a.Eurostotheright.b.Eurostotheleft.c.Dollarstotheright.d.Dollarstotheleft.24.Ina_____A_____exchangeratesystemthegovernmentorcentralbankersintervenetokeeptheexchangeratevirtuallysteady.在固定匯率制度下，政府或中央銀行會盡力保持匯率的穩(wěn)定。a.Fixedb.Marketdrivenc.Floatingd.Forward25.WhichofthefollowingbestcharacterizesthecurrentU.S.exchangeratepolicy?C以下哪項(xiàng)最好地描繪出美國當(dāng)今的匯率政策？a.Anadjustablepeggedrate.b.Acrawlingpeggedrate.c.Afreelyfloating.自由浮動匯率d.Afixedexchangerate.26.WhichofthefollowinggroupsismostlikelytobenefitfromastrengtheningoftheU.S.dollaragainstmajorcurrencies?C如果美元對其它主要貨幣的匯率走強(qiáng)的話,以下哪一群人會得益？a.U.S.exporters.b.TheU.S.government.c.U.S.consumers.美國消費(fèi)者d.Foreignconsumers.27.Exchangeratesareequalizedindifferentlocationsdueto:A匯率在不同地方可以保持等同是因?yàn)樘桌鸻.Arbitrage.套利〔套匯〕b.Governmentinterventioninforeignexchangemarkets.c.Freetradeingoodsandservices.d.Theactionsofimportersandexporters.28.HowcouldyouprofitiftheexchangerateinLondonwas$2/￡whileinNewYorktheexchangeratewas$1.95perpound?C如果在倫敦的匯率是1英磅對2美元,而在紐約的匯率是1英磅對1.95美元.那么怎樣做才能賺錢？a.BuydollarsinNewYorkandselltheminLondon.b.BuypoundsinLondonandselltheminNewYork.C.BuypoundsinNewYorkandselltheminLondon.在紐約買英磅然后在倫敦賣d.BuydollarsinLondonandsellpoundsinNewYork.29.The2001-2007rapidgrowthinglobalforeignexchangetradingcanbeexplainedby:B01-07年間全球外匯交易的急速增長是因?yàn)榇笮蜋C(jī)構(gòu)投資者對中長期外國金融投資的增長a.Largeincreasesinshort-terminternationalcurrencyactivitiesbyhedgefunds.b.Increasesinlong-termforeignfinancialinvestmentsbylargeinstitutionalinvestors.c.IncreasesintheU.S.longtermgovernmentbondyields.d.Both(a)and(b)True/FalseQuestions1.Thegreaterpartofthemoneyassetstradedinforeignexchangemarketsaredemanddepositsinbanks.(T)大部份在外匯市場交易的現(xiàn)金資產(chǎn)都是活期存款.2.Mostforeignexchangetradingisdoneamongthebanksthemselvesintheretailpartoftheforeignexchangemarket.多數(shù)外匯交易都是在銀行間的散戶外匯市場完成交易的3.Thespotexchangerateisthepricenowforanexchangethatwilltakeplacesometimeinthefuture.即時(shí)匯率是指外幣在未來一定時(shí)間內(nèi)的匯價(jià).4.Frenchimportsofgoodsandserviceswillcreateademandforforeigncurrencyandasupplyofeuros.(T)法國對商品的進(jìn)出口會創(chuàng)造出對外匯的需求和歐元的供應(yīng).5.Inthefloatingexchangeratesystem,governmentofficialsmustinterveneintheexchangeratemarkettokeeptheexchangeratefromfluctuating.在浮動匯率制下,政府必須對外匯市場進(jìn)行干預(yù)以保證匯率不出現(xiàn)浮動.〔固定匯率〕6.AssumingtheJapanesehaveafloatingexchangerate,anincreaseinJapaneseexportsofgoodsandserviceswilltendtocausethevalueoftheyentoappreciate.(T)在浮動匯率制下,日本商品出口的增長會造成日元的升值〔本幣貶值有利出口，不利于進(jìn)口〕7.Tomaintainanundervaluedcurrency,monetaryauthoritiesmustinterveneintheforeignexchangemarkettobuyitscurrency.如果要保持匯率偏低的貨幣,貨幣當(dāng)局必須在外匯市場通過干預(yù),購置這種貨幣8.Triangulararbitragewillnotcausetheexchangeratebetweentwoforeigncurrenciestoequalize.三角套匯不會造成兩種貨幣間匯率的均等〔均衡〕9.From2001to2007,globalforeignexchangetradingmorethandoubled.(T)會01到07年間,全球外匯交易增長了兩倍多10.TheMaastrichtTreatysetaprocessforestablishingamonetaryunionandasingleunionwidecurrency.(T)馬斯特里赫特條約為建立貨幣同盟和統(tǒng)一聯(lián)盟制定了一套固定程序.Chapter4:ForwardExchangeandInternationalFinancialInvestment遠(yuǎn)期外匯和國際金融投資Single-ChoiceQuestions1.__A_______apositionexposedtorateriskistheactofreducingoreliminatinganetassetornetliabilitypositionintheforeigncurrency.對利率風(fēng)險(xiǎn)作出的避險(xiǎn)操作實(shí)際上是外匯上的一種減少、去除凈資產(chǎn)或凈負(fù)債的手法a.Hedgingb.Speculatingc.Investingind.Buying2.___B______istheactoftakinganetassetpositionoranetliabilitypositioninsomeassetclass.投機(jī)是一種在某些資產(chǎn)類別中取得凈資產(chǎn)或者凈負(fù)債的行為a.Hedgingb.Speculatingc.Investingd.Buying3.A____D______exchangecontractisanagreementtoexchangeonecurrencyforanotheronsomedateinthefutureatapricesetnow.遠(yuǎn)期外集合同是指交易雙方在商議好的日期內(nèi)按照交易商定的匯率進(jìn)行外匯交易。a.Spotdomesticb.Forwarddomesticc.Spotforeignd.Forwardforeign4.____C______meanscommittingoneselftoanuncertainfuturevalueofone'snetworthintermsofhomecurrency.投機(jī)是指致力于投資未來不確定的本國貨幣凈值。a.Sellingb.Hedgingc.Speculatingd.Importing5.AssumeyouareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:A假設(shè)你是一個(gè)中國出口商，你期望在60天內(nèi)取得$250,000，你可以通過怎樣的方法使美元貶值從而排除損失風(fēng)險(xiǎn)？a.Sellingdollarsintheforwardmarketfor60-daydelivery.購置60天的遠(yuǎn)期外集合同通過期貨市場賣出美元b.Buyingdollarsnowandsellingitattheendof60days.c.Sellingtheyuanequivalentintheforwardmarketfor60-daydelivery.d.KeepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.6.AssumeyouareanAmericanimporterwhomustpay500,000eurosattheendof90dayswhenyoureceive1,000casesofFrenchwineatyourwarehouseinNewYork.Ifyoudonotcoverthistransactionintheforwardmarket,youfaceariskoflossiftheeuro:B假設(shè)你是一個(gè)美國進(jìn)口商，當(dāng)收到寄來的1000箱法國紅酒時(shí)，必須90天內(nèi)付500,000歐元。如果你不在期貨市場對這交易買保險(xiǎn)的話，你可以因?yàn)闅W元對美元的升值而蒙受損失a.Depreciatesagainstthedollar.b.Appreciatesagainstthedollar.c.Eitherappreciatesordepreciatesagainstthedollar.d.Isfixed.7.Whichfinancialinstrumentprovidesabuyertheright(butnottheobligation)topurchaseorsellafixedamountofcurrencyataprearrangedprice,withinafewdaystoacoupleofyears?B外幣期權(quán)給買家一種權(quán)利〔不是義務(wù)〕,這種權(quán)利可以在幾天甚至幾年內(nèi),通過預(yù)先定好的價(jià)格買賣一定數(shù)量的外幣a.Letterofcredit.b.Foreigncurrencyoption.外幣期權(quán)c.Currencyswap.d.Forwardcontract.8.Concerningthecoveringofexchangemarketrisks,assumingthatadepreciationofthedomesticcurrencyisfeared,onecansaythatthereisanincentivefor:B關(guān)于外匯風(fēng)險(xiǎn)的保險(xiǎn)問題,假設(shè)一個(gè)國家的國內(nèi)貨幣將出現(xiàn)貶值,那么這是進(jìn)口商火速為未來需求買保險(xiǎn)的誘因.(本幣貶值將不利于進(jìn)口商，有利于出口商)a.Exporterstorushtocovertheirfutureneeds.b.Importerstorushtocovertheirfutureneeds.c.Bothexportersandimporterstorushtocovertheirfutureneeds.d.Neitherexportersnorimporterstorushtocovertheirfutureneeds.9.IfCanadianspeculatorsbelievedtheeurowasgoingtoappreciateagainsttheU.S.dollar,theywould:C如果加拿大投資者深信歐元會對美元升值的話,他們會大量買入歐元a.PurchaseCanadiandollars.b.PurchaseU.S.dollars.c.Purchaseeuros.d.Selleuros.9.Ifthespotpriceoftheeurois$1.10pereuroandthe30-dayforwardrateis$1.00pereuro,andyoubelievethatthespotratein30dayswillbe$1.05pereuro,youcanmaximizespeculativegainsby:C如果歐元的即時(shí)匯率是1.1美元每歐元,同時(shí)30天期貨匯率是1美元1歐元,你相信即時(shí)匯率在30天賒會變成1.05美元每歐元,那么你怎樣做才能利益最大化？〔美元將會升值〕a.Buyingeurosinthespotmarketandsellingtheeurosin30daysatthefuturespotrate.b.Signingaforwardforeignexchangecontracttoselltheeurosin30days.c.Signingaforwardforeignexchangecontracttosellthedollarsin30days.簽訂一遠(yuǎn)期外集合約以便在30天內(nèi)賣出美元d.Buyingdollarsinthespotmarketandsellingthedollarsin30daysatthefuturespotrate.10.Ifaninvestorstartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingisNOTaninvestmentchoicethatcanbemade?A如果一個(gè)投資者想以美元投資,最后也以美元收取利益,那么以下哪一項(xiàng)投資不是明智的？a.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency.用即時(shí)匯率賣出美元,用得到的收益投資于國外的金融工具,同時(shí)簽訂一份遠(yuǎn)期匯率合約用來買外幣b.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars.c.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate.d.Buyadollar-denominatedfinancialasset.11.Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofuncoveredinternationalinvestment?C如果一個(gè)投資者想以美元投資,最后也以美元收取利益,那么以下哪個(gè)選項(xiàng)是一種未保險(xiǎn)國際投資的例子？a.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency.b.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars.c.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate.用即時(shí)匯率賣出美元,然后用收益投資于外國金融工具,再用未來即時(shí)匯率買回美元d.Buyadollar-denominatedfinancialasset.12.Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofhedging?B如果一個(gè)投資者想以美元投資,最后也以美元收取利益,以下哪個(gè)選項(xiàng)是一種套頭交易？a.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency.b.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars.以即時(shí)匯率賣出美元,用收益投資于外國金融工具,再簽訂一份遠(yuǎn)期匯率合約用來買回美元c.Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate.d.Buyadollar-denominatedfinancia