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1、2023年山东金融英语考试真题卷（6）本卷共分为1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50题，每题2分。每题的备选项中，只有一个最符合题意） 1.A Red Clause Documentary Credit is a Documentary Credit with a special condition incorporated into it that authorizes the Confirming Bank or any other Nominated Bank to make advances to the Beneficiary bef
2、ore presentation of the documents. The clause is incorporated at the specific request of the Applicant, and the wording is de- pendent upon his requirements. The Red Clause Documentary Credit is so called because the clause was originally written in red ink to draw attention to the unique nature of
3、this Documentary Credit. The clause specifies the amount of the advance authorized, which, in some in- stances, may be for the full amount of the Documentary Credit. The Red Clause Documentary Credit is often used as a method of providing the seller with funds prior to shipment. Therefore, it is of
4、value to middlemen and dealers in areas of commerce that require to a form of pre - financing and when a buyer would be willing to make special concessions of this nature. For example, it could be used by a wool importer in England to enable a wool shipper in Australia to obtain funds to pay the act
5、ual suppliers (either by direct purchase or through the wool auctions) by obtaining a loan from the Australian bank, either on an unsecured basis or against the security of interim documents. This would enable repayment of the loan, plus interest, from the proceeds due to the Australian Beneficiary
6、when the wool was shipped and documents were presented in accordance with the terms of the Documentary Credit. If, however, the Beneficiary failed to ship the wool so as to repay the loan by presenting documents called for by the Documentary Credit, the Australian bank would have the right to demand
7、 repayment, with interest, from the Issuing Bank and that bank would have a similar right of recourse against the Applicant. This kind of arrangement places the onus of final repayment on the applicant, who would be liable for repayment of the advances if the Beneficiary failed to present the docume
8、nts called for under the Documentary Credit, and who would also be liable for all costs-such as interest or foreign exchange hedging- incurred by the Issuing Bank, the Confirming Bank, if any, or any other Nominated Bank.What would the Australian bank do, if the Beneficiary failed to ship the wool s
9、o as to re- pay the loan by presenting documents A. The Australian bank will have had the right to demand repayment, with interest, from the Issuing Bank. B. The Australian bank would have been entitled to demand repayment, with interest, from the Issuing Bank. C. The Australian bank would have had
10、the right to demand repayment, with interest, from the Issuing Bank. D. The Australian bank would be entitled to demand repayment, with interest, from the Issuing Bank. 2.The balance of payments is a statistical record of all the economic transaction between residents of the reporting country and re
11、sidents of the rest of the world during a given time period. The usual reporting period for all the statistics included in the accounts is a year. A good or bad set of figures can have an influential effect on the exchange rate and can lead policy makers to change the content of their economic polic
12、ies. Deficits may lead to the government raising interest rate or reducing public expenditure to reduce expenditure on imports. Alternatively, deficits may lead to calls for protection against foreign imports or capital controls to defend the exchange rate.Which of the following transactions is not
13、included in Chinese balance of payments A. Bond transaction with Citibank. B. Service transaction between local enterprise and Sino -foreign joint company incorporated in China. C. Capital inflow to Beijing subsidiary of Swiss multinationals. D. Loan from IMF.A key definition that needs to be resolv
14、ed at the outset is that of a domestic and foreign resident. It is important to note that citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics. The term residents comprises individuals, households, firms and the public authorities. The
15、re are some problems that arise with respect to the definition of a resident. Multinational corporations are by definition resident in more than one country. For the purposes of balance - of - payments reporting the subsidiaries of a multinational are treated as being a resident in the country in wh
16、ich they are located even if their shares are actually owned by domestic residents. Another problem concerns the treatment of international organizations such as the International Monetary Fund, the World Bank, United Nations and so forth. These institutions are treated as being foreign residents ev
17、en though they may actually be located in the reporting country. For example although the International Monetary Fund is located in Washington, contributions by the US government to the Fund are included in the US balance -of-payments statistics because they are regarded as transactions with a forei
18、gn resident. Tourists are regarded as being foreign residents if they stay in the reporting country for less than a year.The criterion for a transaction to be included in the balance of payments is that it must involve a transaction between a resident of the reporting country and a resident from the
19、 rest of the world. Purchases and sales between residents from the same country are excluded.3.Washington March 15 - The administration of President Carl Arling today predicted another six months of slow GNP growth and rising inflation. Chief economic advisor to the president, Walter Abel, told a ne
20、ws conference that in- creased foreign competition, rising prices for raw materials, and high interest rates would hold economic growth to less than 3% for the year with inflation rising above 7%.To lower interest rates artificially would be harmful to the economy. A. Right B. Wrong C. Doesnt sayAbe
21、l said, however, that administration programs to restructure the economy would begin bearing fruit toward the end of the year and that growth in the gross national product would turn sharply upwards in the last quarter.He also said that the administration of President Arling was determined to increa
22、se investment in high technology industries, upgrade aging plant equipment in heavy industry, and encourage workers to increase productivity.Abel admitted that high interest rates threatened the strategy, but warned that any action to artificially lower interest rates risked fueling even greater inf
23、lation.We are still recovering from the recession caused by the previous administration and attempts to force the pace of recovery could be dangerous, he said.4.A Red Clause Documentary Credit is a Documentary Credit with a special condition incorporated into it that authorizes the Confirming Bank o
24、r any other Nominated Bank to make advances to the Beneficiary before presentation of the documents. The clause is incorporated at the specific request of the Applicant, and the wording is de- pendent upon his requirements. The Red Clause Documentary Credit is so called because the clause was origin
25、ally written in red ink to draw attention to the unique nature of this Documentary Credit. The clause specifies the amount of the advance authorized, which, in some in- stances, may be for the full amount of the Documentary Credit. The Red Clause Documentary Credit is often used as a method of provi
26、ding the seller with funds prior to shipment. Therefore, it is of value to middlemen and dealers in areas of commerce that require to a form of pre - financing and when a buyer would be willing to make special concessions of this nature. For example, it could be used by a wool importer in England to
27、 enable a wool shipper in Australia to obtain funds to pay the actual suppliers (either by direct purchase or through the wool auctions) by obtaining a loan from the Australian bank, either on an unsecured basis or against the security of interim documents. This would enable repayment of the loan, p
28、lus interest, from the proceeds due to the Australian Beneficiary when the wool was shipped and documents were presented in accordance with the terms of the Documentary Credit. If, however, the Beneficiary failed to ship the wool so as to repay the loan by presenting documents called for by the Docu
29、mentary Credit, the Australian bank would have the right to demand repayment, with interest, from the Issuing Bank and that bank would have a similar right of recourse against the Applicant. This kind of arrangement places the onus of final repayment on the applicant, who would be liable for repayme
30、nt of the advances if the Beneficiary failed to present the documents called for under the Documentary Credit, and who would also be liable for all costs-such as interest or foreign exchange hedging- incurred by the Issuing Bank, the Confirming Bank, if any, or any other Nominated Bank.What function
31、 does a Red Clause Documentary Credit have A. It puts the liability of repayment on the Applicant. B. It places the liability of final repayment on the Applicant. C. It has the responsibility of final repayment at the Applicant. D. It takes the responsibility of final repayment at the Applicant. 5.T
32、he balance of payments is a statistical record of all the economic transaction between residents of the reporting country and residents of the rest of the world during a given time period. The usual reporting period for all the statistics included in the accounts is a year. A good or bad set of figu
33、res can have an influential effect on the exchange rate and can lead policy makers to change the content of their economic policies. Deficits may lead to the government raising interest rate or reducing public expenditure to reduce expenditure on imports. Alternatively, deficits may lead to calls fo
34、r protection against foreign imports or capital controls to defend the exchange rate.What is the alternative name for the World Bank A. International Bank for Reconstruction and Development. B. International Finance Corporation. C. International Development Association. D. International Settlement B
35、ank.A key definition that needs to be resolved at the outset is that of a domestic and foreign resident. It is important to note that citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics. The term residents comprises individuals, house
36、holds, firms and the public authorities. There are some problems that arise with respect to the definition of a resident. Multinational corporations are by definition resident in more than one country. For the purposes of balance - of - payments reporting the subsidiaries of a multinational are trea
37、ted as being a resident in the country in which they are located even if their shares are actually owned by domestic residents. Another problem concerns the treatment of international organizations such as the International Monetary Fund, the World Bank, United Nations and so forth. These institutio
38、ns are treated as being foreign residents even though they may actually be located in the reporting country. For example although the International Monetary Fund is located in Washington, contributions by the US government to the Fund are included in the US balance -of-payments statistics because th
39、ey are regarded as transactions with a foreign resident. Tourists are regarded as being foreign residents if they stay in the reporting country for less than a year.The criterion for a transaction to be included in the balance of payments is that it must involve a transaction between a resident of t
40、he reporting country and a resident from the rest of the world. Purchases and sales between residents from the same country are excluded.6.A. The check is out of date. B. The check is post-dated. C. The check is in too large amount. D. The check is a crossed one. 7.A. It means being convenient to be
41、 carried. B. It means being readily to be divided. C. It means being easily identified. D. It means being carried in a big basket. 8.A. Bank card business. B. Bank card fraud. C. Technologies used in bank. D. International card fraud. 9.A. The cost principle states that assets and services that are
42、acquired should be recorded at their current price. B. The cost principle states that assets and services that are acquired should be recorded at their actual historical cost. C. The Reliability Principle states that assets and services that are acquired should be recorded at their current cost. D.
43、The Reliability Principle states that assets and services that are acquired should be recorded at their actual historical cost. 10.A. $ 680 million B. $ 860 million C. $ 680 billion D. $ 860 billion 11.A. Four. B. Two. C. Three. D. Five. 12.A. The collecting bank is the bank at the sellers country.
44、B. The collecting bank acts only as an agent for the remitting bank. C. The collecting bank knows the buyer very well. D. The collecting bank noticed that the draft and the documents were received. 13.A. A contractual arrangement. B. A counterpart. C. Many types of risks. D. Credit risk. 14.A. Its t
45、he same over the 10-year period. B. Its getting worse over the 10-year period. C. Its getting better over the 10-year period. D. There is no way to solve the problem. 15.A. The relationship between the drawee and collecting bank will be taken into consideration first of all. B. The remitting bankers
46、 instructions will be paid much more attention. C. The remitting bankers instructions will be less important than the relationship between the drawee and collecting bank. D. The remitting banker must consider the relationship between the drawee and collecting bank. 16.Passage 1Which of the following
47、 is excluded from the commercial bank depositsA. Demand deposits. B. Time deposits.C. Checking accounts. D. Treasury bills.17.A. cash B. notes and coins C. recorded electronic funds-transfer system D. paper gold 18.Passage 2What is the balance of paymentsA. The balance of payments is a digital table
48、 of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.B. The balance of payments is a figured table of all the economic transactions between residents of the reporting country and resident of the rest of the world during a given time period.C. The balance of payments is a statistical record of all the economic transactions between residents of the reporting country and resi