99真题

到大家论坛下载更多FECT金融英语资料 FECT 初级考试1999 年考题 LISTENING (20 Points) Part One Directions: In this section, you will hear ten short statements. Each statement will be spok en only once. After each statement there will be a pause. During the pause, you must read th e four suggested answers marked A, B, C, and D, and decide which is the best answer. Then ma rk the corresponding letter on the ANSWER SHEET with a single line through the center. Now you will hear the example: She went to the bank with Mr. Smith. You will read: A. She went home. B. She liked Mr. Smith. C. She went to the bank. D. She went to Mr. Smith’s house. Statement C, “She went to the bank” is the closest in meaning to the statement “She went to the bank with Mr. Smith.” Therefore, you should choose answer C. Now listen to the statements. 1.A. You can get the funds by M/T. B. You can remit the money by M/T. C. The funds are sent by M/T. D. You have sent the money by T/T. 2. A. There are three copies. B. The documents have been made out. C. The documents are often made out in 3 copies. D. There are three documents. 3. A. You have signed the contract with them. B. You will sign the contract with them. C. You are interested in signing the contract. D. You’ll be asked to sign the contract. 4.A. Must the time draft be presented? B. At what time must draft be presented? C. When has the time draft been paid? D. Must the time draft be paid? 5. A. The loan is of USD 50,000. B. The loan is of USD 5,000. C. The loan is of USD 50,000,000. D. The loan is of USD 500,000. 6. A. The position is held by spot transactions. B. There is a position in foreign exchange market. C. Spot transaction is the most important transaction in exchange market. D. Foreign exchange market is held by spot transactions. 7. A. The receipt was sent t o you. B. The payer’s receipt should be sent away. C. Please pay us against the payee’s receipt. D. Please send us the payee’s receipt 8. A Bankers are becoming more able in modern business. B. Banks are working with global strategy in their outlook and organization. C. Banks are granting more loans to organizations. D. There are more commercial banks managing in foreign exchange dealing. 9. A. More and more bookkeeping work is done by computers. B. There is more bookkeeping work after using computers. C. Bookkeeping work goes more detailed at all levels. D. Bookkeeping work is all done by computers. 10. A. We have had your specimen signature. B. You should provide us with your specimen signatures. C. You should sign on the space. D. It’s necessary for you t o sign the statement. Part Two 到大家论坛下载更多FECT金融英语资料 Direction: In this section, you will hear some short conversations. At the end of each conve rsation, a question will be asked about what was said. The conversation and the question wil l be spoken only once. During the pause, you must read the four choices marked A, B, C, and D, and decide which is the best answer, then mark the corresponding letter on the ANSWER SHE ET with a single line through the center. Now you will hear: M: Does our bank have a direct correspondent relationship with the Bradlay’s Bank? W: No, we don’t. So we have to advise this L/C via another bank. Q: Which of the following is right? Now you will read: A. We can advise this L/C to the Bradlay’s Bank. B. The Bradlay’s Bank is our correspondent. C. The L/C has to be advised by a third bank. D. We should advise this L/C by ourselves. From the conversation we know that we have to advise this L/C via another bank. The best ans wer is C. Therefore you should choose answer C. 11. A Foreign exchange B. Foreign exchange risk. C. Foreign exchange market D. Change of home currency value. 12. A Very good. B. not good C. Totally unsatisfactory D. Very bad 13. A.To the post office B. To the department store. C. To the city branch. D. To DEF Compan y 14. A. One B. Two C. Three D. Four 15. A. $1.5605 B. $1.5615 C. $1.5625 D. $1.5635 Part Three Direction: In this section, you will hear two short passages. At the end of each passage, yo u will hear some questions. The passages and the questions will be spoken only ONCE. After y ou hear a question, you must choose the best corresponding letters on the ANSWER SHEET with a single line through the center. 16. A Check cards B. Debit cards C. Cash cards D. Credit cards 17. A. Differ according to the terms of loans B. There is little difference. C. Vary a lot according to customers. D. They are different among countries and banks. 18. A. 5 per cent over the base rate. B. Less than 4 per cent. C. 4 per cent over the base rate. D. More than 5 per cent. 19. A. Financial technology. B. Financial innovations C. Financial engineering D. Financial opportunities 20. A. It is a new development. B. It is a kind of complicated term. C. It is a financial innovation. D. It is a broad term. READING AND WRITING Part One (15 points) Direction: There are ten blanks in the following passage. For each blank there are four choi ces marked A, B, C, and D. You should choose the best answer and mark the corresponding lett er on the ANSWER SHEET by drawing a single line through the center. 21. is the foundation of private accounting, which analyzes a business’ costs to help manag ers control expenses. A. Budgeting B. Management information system C. Internal auditing D. Cost accounting 22. You are requested to send us to authenticating the cable L/Cs issued by your bank in the future. A. your specimen signature book B. your telegraphic test key C. your tariffs D. your terms and conditions 23. If the supply increases at a more rapid rate than the production of goods and services, is the result. A. capital…. Deflation B. capital.. .. inflation C. money …. inflation D. money … deflation 24. A red clause letter of credit contains a “red clause ” which authorizes an intermediat e bank to to the seller before shipment. A. effect negotiation B. give an advice C. make payment D. grant an advice 25. If the exporter is badly in need of funds to fulfill the contract, he would ask the buye r to provide a , if possible. A. revocable Documentary Credit B. irrevocable Documentary Credit C. red clause Documentary Credit D. stand-by Documentary Credit 26. Under CIF term, the seller is responsible for . A. producing clean bill of lading marked “ shipped on board” and “ freight payable at the destination”. B. Arranging for issuing of import license and payment of import costs, duties and taxes. C. Paying all the costs relating to the goods before the time they have passed the ship’s r ail at the port of delivery. D. Beat all risks of loss of damage to the goods until such time as they have arrived at the named port of destination. 27. When capital inflows into a nation, its effect on the nation’s balance of payments acco unts is . A. surplus increases B. deficit increases C. no effect D. all of the above 28. Liquidity . A. is a measure of how quickly an item may be converted to foreign currencies B. is a measure of how quickly an item may be converted to cash. C. is a measure of how quickly an item may be converted to liabilities. D. is a measure of how quickly an item may be converted to fixed capital 29. Failure to make payments of interest or repayment of principal on the due date is called . A. default B. bankruptcy C. deferred payment D. ill-will 30. If the goods were dispatched directly to the collecting bank without prior arrangement, should take all risks arising from the dispatchment. A. the shipping company B. the consignee C. the master of the ship D. the consigner 31. If a telex does not state that the mail confirmation is the only operative credit instru ment, the telex will be certainly . A. the operative credit instrument B. the confirmation to the advising bank C. the negotiation sent by the issuing bank D. the documents of the confirming bank 32. Performance bonds undertake that a stated penalty is to be paid by the if the contracted goods are not of the required standard. A. exporter B. consignee C. importer D. bank 33. For ordinary remittance, the remitting bank shall transfer to the paying bank’s account on the date of remittance. A. the money B. the cover C. the amount D. the proceeds 34. is defined as an unconditional order in writing drawn on a bank signed by the drawer , r equiring a bank to pay on demand a sum certain in money to, or to the order of a named perso n or to the bearer. A. A draft B. A promissory note C. A cheque D. A bond 35. Banks usually ask for , when cheques are cashed over the counter (not usually for custom er’s own checks). A. guarantees B. reimbursements C. endorsements D. certificates issued by authorities concer ned Part Two (10 points) Directions: There are ten blanks in the following passage. For each blank there are four cho ices marked A, B, C, and D,. You should choose the best answer and mark the corresponding le tter on the ANSWER SHEET by drawing a single line through the center. Passage One The reasons why the authorities in the developing countries, as well as in many developed on es. 36 to maintain interest rates at low levels might be briefly mentioned as follows: the d esire to keep down the cost of servicing the public sector’s 37 ; the suspicion that oligop olistic financial markets would set excessively high lending rates, especially for smaller b orrowers, or excessively large 38 between deposit and lending rates; fears that higher inter est rates damage 39 sectors or groups; the belief that higher interest rates result in 40 in vestment and growth ; concerns about the adjustment costs 41 both financial institutions and non-financial enterprises; and worries that a rise in interest rates may be 42 , either thr ough the direct impact on costs or the indirect effect through expectations. In many instanc es, a policy of retaining low interest rates through administrative controls arises from a d esire to 43 the consequences of other polices being pursued, such as maintaining a large 44 and 45 private credit expansion, on interest rates, investment and growth. 36. A scheme B. are disinclined C. disagree D. are inclined 37. A. products B. costs C. management D. debt 38. A. profits B. assets C. spreads D. spaces 39. A. running B. managing C. disadvantaged D. advantaged 40 A. higher B. lower C. quicker D. slower 41. A. managed by B. resulted from C. faced by D. produced by 42. A. prosperous B. inflationary C. deflectable D. recessive 43. A. bring about B. avoid C. result in D. appeal for 44. A. fiscal deficit B. revenue C. currency volume D. stock 45. A. extending B. supporting C. developing D. limiting Part Three (10 points) Directions: Read the following passages, determining the sentences “Right ” or “Wrong ”. If there is not enough information to answer “Right ” or “Wrong ”, choose “Doesn’t say.”Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center. Passage One Most bills of lading are “shipped” bills of lading, but some others know as “received for shipment” bills of lading (also called “alongside ” bills of lading) are also used. The d ifference between these two types may be seen from the following examples: “Shipped in apparent good order and condition by …. on board the steamship of motor vessel …..” “Received in apparent good order and condition from ….. for shipment on the ship …. Or ot her persons ….” Where the ship owner issues a “shipped” bills of lading, loaded on board his ship; Where h e issues a “received for shipment” bills o f lading, he acknowledge that the goods are stor ed under his control waiting for shipment. The buyer under aci or fob contract may reject a “received for shipment” bills of lading and insist on a “shipped” bills of lading, unles s the contrary is expressly agreed upon by the parties to the contract or is customary in a particular trade. 46. Most bills of lading are “clean ” bills of lading. A. Right B. Wrong C. Doesn’t say 47.Where the ship owner issues an “on board” bill of lading, he acknowledges that the good s are loaded on board his ship. A. Right B. Wrong C. Doesn’t say 48. The buyer reject a “received for shipment” bills of lading in any case. A. Right B. Wrong C. Doesn’t say Passage Two Accounting provides the techniques for gathering economic data and the language for communic ating such data to different individuals and institutions. Investors in a business enterprise need information about its financial status and its futur e prospects. Bankers and suppliers appraise the financial soundness o f a business organizati on and assess the risks involved before making loans or granting credit. Government agencies are concerned with the financial activities of business organizations for purpose of taxati on and regulation. Employees and their union representatives are also vitally interested in the stability and the profitability of the organization that hires them. All of them, indivi duals or institutions, can obtain necessary information and make their appropriate decisions with the help of accounting techniques. For example, comparison of past performance with pl anned objectives may reveal the means of accelerating favorable trends and reducing those th at are unfavorable. 49. The financial position and future prospects are of the concern of business investors. A. Right B. Wrong C. Doesn’t say 50. Before making loans to customers, banks would try to get rid of risks involved. A. Right B. Wrong C. Doesn’t say 51. Employees may show little concern in the earning of a business enterprise in which they work. A. Right B. Wrong C. Doesn’t say 52. According to this passage, people can hardly acquire and exchange economic data by means of accounting techniques. A. Right B. Wrong C. Doesn’t say Passage Three Similar to a non-financial business, a commercial bank obtains funds from creditors and shar eholders; uses funds for its raw materials, labor, and capital, and recovers funds, hopefull y in excess of the amount spent. The raw materials purchased are funds instead of iron, clot h or food, and the products sold are funds packaged in a usable form instead of steel, cloth ing, or groceries. As in a non-financial business a bank management’s basic objective shoul d b e to maximize the value o f the owner’s investment in the bank. Useful information on the appropriate tradeoffs between returns made and risks taken is obtained from relatively effic ient markets for most publicly held banks, The management of smaller banks seeks to achieve the highest returns for the risk level deemed appropriate by the shareholders. 53. The recovery of funds of a commercial bank is ideally managed on a parallel with its exp enditure. A. Right B. Wrong C. Doesn’t say 54. A commercial bank should try its best to increase the profits of its creditor and owners hip sources. A. Right B. Wrong C. Doesn’t say 55. Relatively efficient market can usually provide information on the credit worthiness of a commercial bank. A. Right B. Wrong C. Doesn’t say Part Four (15 points) Directions; There are three passages in this part. Each passage is followed by some question s or unfinished statements For each of them there are four choices marked A, B, C, and D. Yo u should have the best choice and mark the corresponding letter on the ANSWER SHEET by drawi ng a single line through the center. Passage One We will live in a society when cash no linger exists. Instead, “cash” would be electronic, as in bank-card systems. Notes and coins would be abandoned. Its benefits would be profound and fundamental. Theft of cash would become impossible. Bank robberies and cash-register rob beries would cease to occur. Attacks on shop keepers, taxi-drivers, and cahiers would all en d. Purse snatching would become a thing of the past. Urban streets would become saf e. Retail shops in once dangerous areas could operate in safety. Securities cost and insurance premiu m would fall. Property values would rise. Neighborhood would improve. In the long run, a cha nge from cash to recorded electronic money would be accompanied by a flow of previously inco me-tax revenues running in the tens of billions of dollars. As a result, income-tax rate cou ld be lowered or the national reduced. National electronic-money system would operate as a debit-card system. Each individual’s “m oney ” would be held in his money-system account. A transaction would effect an instant tra nsfer of money from his account to that of another account holder. Only cash would be suppla nted by electronic money. The use of checks, drafts, money orders, traveler’s checks, cashi er’s checks, as well as letter of credit, acceptances, and other financial instruments woul d remain in regular use. Credit card and automatic-teller-machin e system would not necessari ly change, although you could no longer obtain cash at ATMs. 56. we will live in a society where no longer exist. A. money B. theft C. bank-card system D. Cash 57. In future, money will be in the form of . A. cash B. notes and coins C. recorded electronic funds-transfer system D. paper gold 58. Which of the following statements is false? A. In a cash-free society, bank robberies and cash register robberies would not occur. B. Retail shops could operate in safety. C. Automatic-teller-machine system would have to change. D. Purse snatching would simply become possible. 59. According to the passage, in future, neighborhoods would improve because . A. cash would be longer in use. B. there would be more safety guards C. more prisons would be set up. D. People would be better off 60. make(s) it possible to divorce money from evil. A. Letters of credit B. Electronic funds –transfer technology C. Credit cards D. Traveler’s checks Passage Two Document against acceptance (D/A) is exactly like document against payment (D/P) except that, instead of signing the sight draft and paying on presentation of documents to receive the b ill(s) of lading, the importer accepts the usance (time) draft that creates an obligation si milar to a promissory note called a trade acceptance. This can be used for finance purposes under some conditions. This is a promise to pay in a certain number of days, after accepting the documents, usually for a term of between 30 and 180 days. D/A terms are more secure tha n open account because the transaction and receipt of goods are evidenced by a negotiable in strument. It is much easier to enforce a financial instrument that an account receivable. Wh ich must be proven to the courts. However, a sharp increase in risk over D/A occurs because the importer now has the goods, and the exporter only has a promise to pay. The bank has no responsibility to collect the funds on or after the due date. Both your bank and the foreign bank are purely conduits, or agents for transmittal and collection. It is very important no t to confuse a banker’s acceptance, which carries the credit of a bank, with a trade accept ance mentioned here. The latter is non better than the credit and integrity of the buyer as opposed to the bank. 61. If D/A terms are used to settle international transactions, then . A. the seller must pay on presentation of documents B. a sight draft is usually used C. the importer can get the bill(s) of lading only after he accepts the time draft D. a promissory note is created 62. In the passage, the sentence “this can be used for finance purposed under some conditio ns” means that . A. the buyer gives credits to the seller B. the buyer can get the goods and even sell it before he has to pay C. the buyer promise to pay in30 days D. an obligation is created 63. To the seller, which of the following is disadvantage of D/A? A. It is much more secure in comparison with open account. B. It is much more enforceable than an account receivable. C. The seller has to incur much higher risk of dishonor of the bills. D. The collecting bank is responsible for the payment in the event of the dishonor of the gb ills. 64. The most important difference between a banker’s acceptance and a trade acceptance is t hat . A. the acceptances are made by different agents B. credits are given by different agents C. the banker’s acceptance is inferior to a trade acceptance D. the banker’s acceptance depends on the bank’s credit, while the latter depends on the c redit of the buyer. 65. The word “conduits” in the passage means . A. the banks assume no responsibility if the buyers fail to meet their payment obligation sp ecified in the commercial contract B. the banks assume no responsibility for consequences arising from any causes beyond their control. C. Just acting as agents, the banks transmit documents and collect money in accordance with the directions given by the principal D. All of the above Passage Three Providing for a payment mechanism or the transfer of funds is one of the important functions performed by commercial banks and it is increasing in importance as greater reliance is pla cing on the use of checks and credit cards. The increasing efficiency with which funds are m anaged is indicated by the gradual decline in money holdings relative to the gross national product over the years, despite an increase in the number of financial transactions. In rece nt years the only kind of money that has increased relative to national is coin, primarily b ecause of the growth of metering and vending machines. As we can see, at present check depos its are assuming a larger portion of the transaction load, and they are being used more effi ciently. Most of the checks in the nation are cleared through the commercial banking system. Checks d rawn on and deposited in the same bank merely transfer funds from one counter to another. If only two banks are involved in the same town, there is a direct exchange of checks. When se veral banks are involved within the same city, a clearing house arrangement is usually emplo yed. The process becomes a bit more complicated and time-consuming. Banks have employed computers and other sophisticated equipment to speed the clearing proces s, reduce costs, and improve accuracy. In recent years considerable thought and research hav e been given to what has become known as checkless banking. This would activate computers in banks throughout the nation and thus transfer funds from the purchaser’s account to the se ller’s account. The ATM can be used to withdraw cash from a depositor’s account, make depo sits and loan repayments, and transfer funds between a depositor’s savings and checking acc ounts. 66. Although banking transaction load is ever heavier, . A. there is less money among the people B. more funds are managed in commercial banks C. money management shows higher efficiency D. there is a gradual decline of funds in gross national product 67. In the writer’s view what is being used more efficiently? A. Money holdings B. Check deposits C. Coins D. Metering and vending machines 68. How is the clearing of checks involved in two banks in the same city? A. through the clearing house B. by transfer of funds from one account to another C. through a correspondent bank D. by direct exchange of checks 69. According to the passage, can eliminate bank checks and the subsequent work. A. credit cards B. some sophisticated equipment C. computers D. a device of electronic transfer of funds 70. The central idea of this passage is . A. electronic transfer of funds B. bank’s payment mechanism C. clearing of checks D. computer and payment Part Five (10 points) Directions : There are ten blanks in this part . In each blank, you should put one of the wo rds given below in its proper form. Write your answer on the ANSWER SHEET. write draw supervise distinguish act lend make offer refer repay Banking 71 to the business of taking deposits and making loans. As financial intermediaries, banks may also 72 a whole range of other financial services, such as insurance, credit card s and foreign exchange, but their 73 characteristic is their role in the money supply throug h the creation of deposits. When a bank 74 a loan it incurs a book debt to a customer in ret urn for a promise to 75 it. The ability of a bank to create money in this way is limited in most countries by government control on 76 as well as by its obligation to pay out current a ccount deposit in cash on demand. Since the bank’s customers meet most of their needs for m oney by 77 cheques on their deposits, the cash holdings the banks need are only a small frac tion of their total deposits. The settlement of debts arising between banks through cheques 78 on one bank and deposited in another is made through a clearing house. Banks are 79 and r egulated in most countries by the central bank, which 80 as lender of last resort. Part Six ( 5 points ) Directions: Describe the procedures of D/P at sight according to the number given in the cha rter. Write your answer on the ANSWER SHEET . Step one and Step seven have been provided. 6 Collecting Bank Remitting Bank 3 5 4 2 7 1 Buyer (drawee) Seller (beneficiary) Part Seven (15 points ) Directions: Write a letter according to the following request. Write your answer on the ANSW ER SHEET. 以甲银行名义,用正式信函格式写一封英文信给乙银行,内容如下: 关于你行5月5日电传所述没有收到我行5月3日 要求 对教师党员的评价套管和固井爆破片与爆破装置仓库管理基本要求三甲医院都需要复审吗 偿付的电传,实际上我行已收到你行对该电传的答复。这意味着该电传已成功地送达你方。请核查并立即办理付款,追付起息日至付款日5月7日。否则,我行保留要求迟期付款的利息的权利。 到大家论坛下载更多FECT金融英语资料 FECT 初级考试1999 年考题 LISTENING (20 Points) 1-20.(omission) 21.D BCDD,CABAC 31.DBABC,DDCBD 41.ACAAA,BACAA 51.BDABC,DCABB 61.CCDDD,DDBDA. Section 3 Bank of China Beijing Branch May 20,1998 Bank A New York U.S.A. Dear sirs, Concerning that your respected bank have not received your fax referred to May 3 requested reimbursement telex on May 5, in fact I will have to receive your reply to the telex. This means that the fax has been successfully served your side. Requests for payment verification and immediately go to pay interest from the date of payment May 7. Otherwise, I will request to retain the late payment interest. Yours faithfully, Lang Yong Manager Bank of China