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1、2021金融英语考试模拟卷（9）本卷共分为1大题31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31题，每题2分。每题的备选项中，只有一个最符合题意） 1.U. S. Treasury securities face several risks to varying degrees. Generally speaking, rank the following risks that an investor in a 5 percent coupon, 25-year, off-the-run U. S. Treasury bond, issued after 198
2、4, would face. Order them from left to right with the least likely risk first through the most likely risk faced by the investor last. 1=liquidity risk. 2=prepayment risk. 3=default risk. 4=interest rate risk.（）A. 1, 2, 3, 4.B. 2, 3, 1, 4.C. 4, 3, 1, 2.2.Which of the following statements regarding t
3、he value of the firm is most accurate（）A. A company’s legal and treasury departments act to reduce the tax rate from 37.5% to 37.0% , the value of the firm will increase.B. The government engages in a restrictive monetary policy and the expected inflation rate decreases, the P/E ratio will dec
4、rease.C. The board of directors increases the dividend payout ratio, the value of the company will increase.3.The monetary policy rule that would most likely result in the greatest increase in the price level after a productivity shock is a:（）A. fixed rule policy that focuses on file price level.B.
5、fixed-rule policy that focuses on GDP growth.C. feedback-rule policy that focuses on GDP growth.4.A fourth market transaction occurs when:（）A. a security is purchased by a dealer and then immediately resold.B. exchange-listed shares are traded in the OTC market.C. a buyer and seller complete a trade
6、 without the assistance of an intermediary broker.5.Mary Kim, CFA, practices in the established country of Oldasia as well as in the emerging country of Newasia. By regulation, Oldasia prohibits licensed investment advisors from trading in securities ahead of their clients. Newasia has no laws or re
7、gulations in this area. Mary Kim may:（）A. trade ahead of her clients in Newasia only.B. trade simultaneously with her clients in Newasia only, as long as she has made full disclosure to her clients that she reserves the right to do this.C. not trade ahead of her clients in either country.6.A company
8、 has a long-term take or pay commitment with its major supplier. When calculating the companys financial ratios, a financial analyst should:（）A. ignore the arrangement.B. add the present value of the minimum future commitment to the company’s debt only.C. add the present value of the minimum f
9、uture commitment to both the company’s debt and assets.7.Which of the following statements about unemployment is least accurate（）A. Frictional unemployment is unemployment due to changes in the economy that prevent qualified workers from being immediately matched with existing job openings.B.
10、The economy is said to be operating at full employment only if there is no cyclical or frictional unemployment in the economy.C. The economy is said to be operating at full employment when cyclical unemployment is zero.8.All of the following are required for a CFA Institute member to maintain his or
11、 her active status EXCEFF:（）A. remit a completed Professional Conduct Statement on an annual basis.B. Passing each exam in no more than two tries.C. paying membership dues to CFA Institute on an annual basis.9.A worker is most likely to earn economic rent when the marginal revenue product (MRP) from
12、 her labor and the supply curve for her type of labor exhibit which of the following characteristics MRP Supply curve（）A. High More elastic B. Low Less elastic C. High Less elasticA. B. C. 10.Cody Scott would like to screen potential equity investments to identify value stocks and selects firms that
13、 have low price-to-sales ratios. Unfortunately, screening stocks based only on this criterion may result in stocks that have poor profitability or high financial leverage, which are undesirable to Scott. Which of the following filters could be added to the stock screen to best control for poor profi
14、tability and high financial leverage Filter 1Include only stocks with a debt-to-equity ratio that is above a certain benchmark value. Filter 2Include only dividend paying stocks. Filter 3Include only stocks with an assets-to-equity ratio that is below a certain benchmark value. Filter 4Include only
15、stocks with a positive return-on-equity. Poor profitability High financial leverage（）A. Filter 2 Filter 3 B. Filter 2 Filter 1 C. Filter 4 Filter 3A. B. C. 11.Tony Calaveccio, CFA, is the manager of the Trust-Co Small Cap Venture Fund in Toronto. He places trades for the fund with Worldwide Brokerag
16、e. Worldwide suggests to Calaveccio that they are willing to provide him with additional compensation for order flow. Is this permissible under the Code and Standards（）A. Yes, if he receives written consent from Trust-Co and discloses the arrangement to his clients and prospects.B. Yes, if he disclo
17、ses the arrangement in writing to Trust-Co.C. Yes, if he obtains written permission from Trust-co and his clients and prospects.12.Bob Smith, CFA, is an outside board member of Atlantic Technologies, but is not paid by the firm for his services. An employee at Atlantic informs Smith that Atlantic ha
18、s improperly timed the booking of contracts to achieve the desired quarterly financial results. The misleading financial statements would turn losses into profits. Smith confers with the firms legal counsel who indicates that this conduct is, in fact, illegal. Smith urges Sharon White, Atlantics chi
19、ef operating executive, to change the financial statements, but she refuses to do so. According to CFA Institute Standards of Professional Conduct, which of the following statements best describes what Smith should do in this situation （）A. Smith should immediately make CFA Institute aware of the si
20、tuation at Atlantic.B. Smith should wait until the next board meeting, which is scheduled in two weeks, to make other board members aware of the situation.C. Smith should promptly disassociate himself from Atlantic’s actions by resigning as a director or by reporting the activities to the appr
21、opriate authorities.13.Which of the following is least likely to be considered a stated goal of the International Accounting Standards Board (IASB)（）A. Develop global accounting standards requiring transparency, comparability, and high quality in financial statements.B. Remain neutral in the debate
22、on the use of global accounting standards to avoid appearance of a conflict of interest.C. Account for the needs of emerging markets and small firms when implementing global accounting standards.14.The following information is calculated by using LIFO method, calculate the cost of goods sold using F
23、IFO. 2000 2001 Beginning Inventory $ 80000 $ 70000 Ending Inventory $ 70000 $ 50000 LIFO Reserve $ 5000 $ 8000 LIFO Cost of Goods Sold $ 300000 $ 250000（）A. $ 219000.B. $ 238000.C. $ 247000.15.Which of the following statements about the taxation of separate trading of registered interest and princip
24、al of securities (STRIPS) is FALSE（）A. Implicit interest taxation is a paramount issue for pension plans.B. A 10 -year Treasury note has 20 coupons and 1 principal payment.C. The STRIPS program began in 1985.16.All of the following practices constitute good corporate governance, EXCEPT:（）A. the firm
25、’s financial, operating, and governance activities are reported to shareholders in a fair, accurate, and timely manner, and management acts independent of the board of directors.B. the firm’s financial, operating, and governance activities are reported to shareholders in a fair, accurate
26、, and timely manner, and the board of directors protects shareholder interests.C. there are proper procedures and controls coveting management’s day-to-day operations and the firm acts lawfully in dealings with shareholders.17.Todd Gable, CFA, was attending a noon luncheon when he overheard tw
27、o software executives talking about a common vendor, Datagen, about how wonderful they thought the company was, and about a rumor that a major brokerage firm was preparing to issue a strong buy recommendation on the stock. Gable returned to the office, checked a couple of online sources, and then pl
28、aced an order to purchase Datagen in all of his discretionary portfolios. The orders were filled within an hour. Three days later, a brokerage house issued a strong buy recommendation and Datagens share price went up 20%. Gable then proceeded to gather data on the stock and prepared a report that he
29、 dated the day before the stock purchase. Gable has:（）A. violated the Standards by improper use of inside information.B. violated the Standards by using the recommendation of another brokerage firm in his report.C. violated the Standards by not having a reasonable basis for making the purchase of Da
30、tagen.18.Assume the tax rate is constant, based on the following information, calculate the balance of the deferred tax account at the end of the second year The company acquired the asset for $ 8000. The asset will generate $ 5000 a year. The companys tax rate is 40%. For tax purposes, the asset ca
31、n be straight-line depreciated over 4 years. For financial accounting purposes, the asset is depreciated straight-line over 5 years.（）A. $ 0.B. $ 240.C. $ 480.19.BSection One/BDirections: In this section, you will hear ten short statements. Each statement will be spoken only once. After each stateme
32、nt 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.AHouse mortgage has a short history.BHouse mortgage appeared in
33、 recent yearn in China.CNowadays, people still couldnt accept the idea of house mortgage.DMany years ago people accepted house mortgage in China. 20.BSection One/BDirections: In this section, you will hear ten short statements. Each statement will be spoken only once. After each statement there will
34、 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.AIf a country wants to be a member of the World Bank, it should first be the
35、 member of the International Monetary Fund.BThe membership of the International Monetary Fund is not so important.CThe membership of the International Monetary Fund is not important at all.DA few countries want to be members of the World Bank. 21.BSection One/BDirections: In this section, you will h
36、ear ten 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 li
37、ne through the center.AFace value is not important.BMaturity date is not important.CCoupon rate is important.DNothing is important. 22.BSection One/BDirections: In this section, you will hear ten short statements. Each statement will be spoken only once. After each statement there will be a pause. D
38、uring 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.AThe value of the U.S. dollar changed a lot.BThe value of the U.S. dollar didnt change a l
39、ot.CThe value of U.S. dollar had no change.DThe value of the U.S. dollar had little change. 23.BSection One/BDirections: In this section, you will hear ten 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
40、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.AThey will pay 100 francs in advance.BThey will pay 130 francs in advance.CThey will pay 130 francs later.DThey will pay 120 franc
41、s later. 24.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 wh
42、ich is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.AYou must report the loss of your card immediately to the bank.BYou will be scolded.CYou must give a new card to the hank.DYou must pay for tile new card. 25.Directions: In this secti
43、on you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C, and D.Then mark the corresponding letter an tile
44、ANSWER SHEET with a single line through the center.BPassage One/BA1994B1996C1998D1995 26.Directions: In this section you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you m
45、ust choose the best answer from the four choices marked A, B, C, and D.Then mark the corresponding letter an tile ANSWER SHEET with a single line through the center.BPassage One/BA280 millionB180 millionC280 billionD180 billion 27.Directions: In this section, you will hear ten short conversations. A
46、t 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 wi
47、th a single line through the center.AChecks.BTravelers cheeks.CTravelers letters of credit.DSecurities. 28.Directions: In this section you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C, and D.Then mark the corresponding letter an tile ANSWER SHEET with a single line through the center.BPassage One/BAsmall p