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1、2021安徽金融英语考试模拟卷（4）本卷共分为2大题50小题，作答时间为180分钟，总分100分，60分及格。一、单项选择题（共45题，每题2分。每题的备选项中，只有一个最符合题意） 1.The normal income statement which constitutes one of the financial statements of company, is financial income statement. So functional income statement is an income statement that segregates all costs by us
2、e; it shows revenues less cost of goods sold ( gross margin) less selling and administrative expenses. This approach is useful for financial reporting purpose; it provides outside readers with information about company’s progress and about which functional areas are being emphasized. For manag
3、ement’s use in the decision-making process, however, an income statement that follows a cost behavior approach, often referred to as a Contribution Margin Income Statement, is more valuable.Form the functional income statement we can see clearly the total revenue, total cost and gross profit e
4、tc.（）A. RightB. WrongC. Doesn’t say2.The original issuer of a security is referred to as a borrower, and the purchaser is referred to as a lender. Most securities traded in the secondary markets belong to one of two broad classifications: bonds or stocks. Bonds are credit instruments redeemabl
5、e in a given number of dollars and yielding a fixed return. Important characteristics of bonds include face (or par) value, maturity date, and coupon rate. Face values for most bonds are 5; 1 000, although some government issues have $ 10 000 face values. Face value represents the total amount of ca
6、sh payable to the owner at the bond’s maturity date, which can range from 1 to 30 years. Prior to maturity, yearly coupon payments equal to the coupon rate times the face value are paid. These coupons represent a profit to the bond owner. Coupon rates on newly issued bonds closely follow the l
7、evel of interest rates in the economy. Once set in the initial primary market sale, however, the coupon on a given issue will not change in response to changing interest rates in the economy. Instead, the market price of the bond changes. When a bond’s coupon rate is equal to the general level
8、 of interest rates prevailing in the economy, the bond’s market price will be equal to its face value. When the coupon rate is higher than prevailing interest rates, the bond will sell at a premium over its face value. When the coupon rate is lower than prevailing interest rates, the bond will
9、 sell at a discount from its face value. Interest on bonds constitutes a legal obligation, and failure to pay it may result in bankruptcy.Preferred stocks are similar to bonds in that they have stated face values (often 100) and a specified dividend payment (similar to a bond’s coupon). They d
10、iffer from bonds because they do not have a scheduled maturity date and because yearly dividends may remain unpaid for a few years without forcing the issuer into bankruptcy. Common stocks have no specified yearly cash payments or maturity date. These securities have an infinite life on which cash w
11、ill be earned only if the issuer has satisfactory profits. Because the cash returns on bonds are the most certain, they are viewed as the least risky investment and provide the lowest expected rate of return. Preferred stocks are viewed as more risky than bonds and less risky than common stocks. Com
12、mon stocks are the most risky and provide the largest expected returns.Preferred stocks are similar to bonds except that（）.A. they don’t have face value.B. they don’t have interest.C. they don’t have maturity date.D. they don’t have a scheduled maturity date and dividends may
13、 remain unpaid for a long time.3.Harper Grant Ltd. is a well - known and respected trading company. We handle imports directly from manufactures in 35 different countries, and currently export to 46 different countries worldwide.We are looking for enthusiastic people to work in our office in Bermuda
14、 on temporary 3 -, 6 - and 9 - month contracts. Applicants must be able to speak and write at least one foreign language fluently and can be nationals of any country.Experience in import/export will be an advantage, but as special training will be available this is not essential. The main requiremen
15、ts arc a willingness to work as a member of a team, to cope with pressure, and to be prepared occasionally to work long hours when necessary.There are several posts available and long -term prospects are good, though initially all successful applicants will be contracted for a maximum of 9 months.Th
16、e salary we will offer is excellent. We will pay for your return air fare and provide adequate accommodation at a nominal rent.Please apply in your own handwriting, enclosing your resume to Sally Langley, Personnel Office, Harper Grant Ltd, 1084 Great West Road, London W25.According to the advertise
17、ment, only citizens of Britain can apply for the job.（）A. RightB. WrongC. Doesn’t say4.Investment institutions (6) the third major category in our financial system. These institutions combine the relatively small amounts of savings from many individuals and invest the (7) in financial assets.
18、Mutual funds purchase corporate stocks and bonds as well as government securities. Real estate investment trusts invest in (8) and mortgages. Money market funds invest in short - term debt securities. While individual investors can invest directly in such securities, investment institutions (9) smal
19、l investors diversification and experienced management of their funds. The fourth category consists of financial companies. These companies provide loans directly to consumers and businesses. Sales and consumer finance companies lend to individuals. Sales finance companies finance installment loan p
20、urchases of automobiles and other (10) goods. Consumer finance companies provide small loans to individuals and households. The fifth category consists of securities market institutions that are involved in the savings - investment process and the marketing and transferring of claims to wealth. Cred
21、it -reporting and credit-rating organizations aid lenders in deciding whether to extend credit to consumers and businesses.10.（）A. tangibleB. familyC. industrialD. durable5.Portfolio management is becoming an (1) part of the credit process. In the management of their portfolio, commercial banks emph
22、asize the importance of asset and earning (2) , the immediate recognition as losses of all credit judged to be (3) , and the maintenance of appropriate credit loss (4) . All identified losses should be immediately (5) 4.（）A. preparationB. positionC. differenceD. allowance6.The normal income statemen
23、t which constitutes one of the financial statements of company, is financial income statement. So functional income statement is an income statement that segregates all costs by use; it shows revenues less cost of goods sold ( gross margin) less selling and administrative expenses. This approach is
24、useful for financial reporting purpose; it provides outside readers with information about company’s progress and about which functional areas are being emphasized. For management’s use in the decision-making process, however, an income statement that follows a cost behavior approach, of
25、ten referred to as a Contribution Margin Income Statement, is more valuable.From the normal income statement we can see gross margin.（）A. RightB. WrongC. Doesn’t say7.In 1944, officials from forty - five nations assembled for a historic meeting at Bretton Woods in the United States. Even thoug
26、h World War II was still going on, international monetary authorities and world leaders were planning for the future. They wanted to make provisions for the economic problems they expected to follow by the end of the war. These efforts resulted in the formation of the International Monetary Fund. Th
27、e IMF attempts to encourage monetary cooperation, to promote excharige rate stability, and to plan international arrangements on ex- change rates. In addition, the Fund attempts to prevent competitive exchange rate reductions among its members. It also tries to eliminate or reduce any foreign exchan
28、ge controls that slow down world trade. In order to attain these objectives, however, very large financial reserves are needed. The necessary reserves are obtained in the form of deposits, which are required from each member when joining the Fund. The size of the deposit is known as the member&rsquo
29、;s quota.The quota is the heart of the International Monetary Fund. The Fund authorities set the size of the quota. It is based on the economic importance of the country as shown by such indicators as populations, international trade, and GNP. Traditionally, the quota has been paid in a combination
30、of gold and the member’s own currency, with 25 percent in gold and the rest in currency. It is important because it determines the maximum amount that the member can draw out in times of difficulty. Sometimes new members have succeeded in reducing the quotas set by the IMF. They have usually r
31、egretted this decision when they later needed to withdraw large a- mounts from the Fund.Perhaps the main function of the IMF has been to help members with balance of payments problems so as to prevent a monetary crisis. For instance, a small country could experience storm, which greatly reduced its
32、main export crop. Because of the considerable shortfall in ex- port, the country would earn much less foreign exchange than usual. As a result, there would be a current account deficit. Tile country could have difficulty in paying for essential imports, for its official reserves might not provide en
33、ough foreign exchange. Without help from abroad, the country could solve the payments problem in two ways. It could allow its currency to devalue because of the reduced international demand, or it could prevent the exchange rate from falling by using exchange control. Both of these methods seem too
34、dramatic. However, because the country’s problems are very short - term ones. Under these circumstances, the Compensatory Finance Facility can be used to obtain the necessary foreign exchange.The member quota is（）.A. the money a member is required to deposit when joining the Fund.B. the money
35、a member could withdraw from the Fund each year.C. the total amount of money the IMF has.D. the money a member should deposit when withdrawing the Fund.8.Harper Grant Ltd. is a well - known and respected trading company. We handle imports directly from manufactures in 35 different countries, and cur
36、rently export to 46 different countries worldwide.We are looking for enthusiastic people to work in our office in Bermuda on temporary 3 -, 6 - and 9 - month contracts. Applicants must be able to speak and write at least one foreign language fluently and can be nationals of any country.Experience in
37、 import/export will be an advantage, but as special training will be available this is not essential. The main requirements arc a willingness to work as a member of a team, to cope with pressure, and to be prepared occasionally to work long hours when necessary.There are several posts available and
38、long -term prospects are good, though initially all successful applicants will be contracted for a maximum of 9 months.The salary we will offer is excellent. We will pay for your return air fare and provide adequate accommodation at a nominal rent.Please apply in your own handwriting, enclosing your
39、 resume to Sally Langley, Personnel Office, Harper Grant Ltd, 1084 Great West Road, London W25.In the advertisement, a nominal rent means that the cost for rent is quite insignificant.（）A. RightB. WrongC. Doesn’t say9.Portfolio management is becoming an (1) part of the credit process. In the m
40、anagement of their portfolio, commercial banks emphasize the importance of asset and earning (2) , the immediate recognition as losses of all credit judged to be (3) , and the maintenance of appropriate credit loss (4) . All identified losses should be immediately (5) 5.（）A. written offB. excludedC.
41、 includedD. paid off10.In 1944, officials from forty - five nations assembled for a historic meeting at Bretton Woods in the United States. Even though World War II was still going on, international monetary authorities and world leaders were planning for the future. They wanted to make provisions f
42、or the economic problems they expected to follow by the end of the war. These efforts resulted in the formation of the International Monetary Fund. The IMF attempts to encourage monetary cooperation, to promote excharige rate stability, and to plan international arrangements on ex- change rates. In
43、addition, the Fund attempts to prevent competitive exchange rate reductions among its members. It also tries to eliminate or reduce any foreign exchange controls that slow down world trade. In order to attain these objectives, however, very large financial reserves are needed. The necessary reserves
44、 are obtained in the form of deposits, which are required from each member when joining the Fund. The size of the deposit is known as the member’s quota.The quota is the heart of the International Monetary Fund. The Fund authorities set the size of the quota. It is based on the economic import
45、ance of the country as shown by such indicators as populations, international trade, and GNP. Traditionally, the quota has been paid in a combination of gold and the member’s own currency, with 25 percent in gold and the rest in currency. It is important because it determines the maximum amoun
46、t that the member can draw out in times of difficulty. Sometimes new members have succeeded in reducing the quotas set by the IMF. They have usually regretted this decision when they later needed to withdraw large a- mounts from the Fund.Perhaps the main function of the IMF has been to help members
47、with balance of payments problems so as to prevent a monetary crisis. For instance, a small country could experience storm, which greatly reduced its main export crop. Because of the considerable shortfall in ex- port, the country would earn much less foreign exchange than usual. As a result, there
48、would be a current account deficit. Tile country could have difficulty in paying for essential imports, for its official reserves might not provide enough foreign exchange. Without help from abroad, the country could solve the payments problem in two ways. It could allow its currency to devalue beca
49、use of the reduced international demand, or it could prevent the exchange rate from falling by using exchange control. Both of these methods seem too dramatic. However, because the country’s problems are very short - term ones. Under these circumstances, the Compensatory Finance Facility can be used to obtain the necessary foreign exchange.A member of the IMF could withdraw large amounts of money if（）.A. it has reduced its quota.B