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1、2023年甘肃金融英语考试模拟卷（8）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.Which of the following is a difference between primary and secondary capital markets（）A. Primary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while secondary capi
2、tal markets are where securities trade after their initial offering.B. Primary markets are where stocks trade while secondary- markets are where bonds trade.C. Both primary and secondary markets relate to where stocks and bonds trade after their initial offering.2.An analyst, who is a CFA Institute
3、member, manages a high-grade bond mutual fund. This is his only professional responsibility. When the analyst comes across a speculative stock investment that he feels is a good investment for his personal portfolio, the analyst:（）A. may invest in the stock because the analyst would not purchase the
4、 stock for the bond portfolio he manages.B. may not invest in the stock because of his position as a portfolio manager.C. is in violation of Standard (A), Loyalty to Employer, by spending time analyzing stocks when he should only analyze bonds.3.Standard (B) Additional Compensation Arrangement, requ
5、ires that analysts inform their employer regarding additional compensation:（）A. in writing only, within 60 days after acceptance of the compensation.B. in writing or orally, upon receipt of the compensation.C. in writing only, upon receipt of the compensation.4.Paul Thomas, CFA, is designing a new l
6、ayout for research reports his firm writes and issues on individual stocks. In his design, Thomas includes a stock chart on the first page of each report. He does not reference that the charts are copied from an unrecognizable Finance web site. Thomas has:（）A. not violated CFA Institute Standards of
7、 Professional Conduct because these charts are widely available over the Internet.B. violated CFA Institute Standards of Professional Conduct because he did not make sure that the information in these charts is accurate.C. violated CFA Institute Standards of Professional Conduct because he did not s
8、tate the source of the charts.5.Which of the following statements about duration of a bond is least accurate（）A. The duration of a zero coupon bond is approximately equal to its maturity.B. The duration of a floater is equal to the time to the next reset date.C. If a bond has an effective duration o
9、f 7.5 , it means that a 1% change in rates will result in a 7.5% change in price.6.An argument against using the price-to-earnings (P/E) valuation approach is that:（）A. earnings power is the primary determinant of investment value.B. earnings can be negative.C. research shows that P/E differences ar
10、e significantly related to long-run average stock returns.7.An analyst who is evaluating a firms working capital management would be least likely to be concerned if the firms:（）A. trade payables turnover is lower than that of its peers.B. operating cycle is shorter than that of its peers.C. days of
11、inventory on hand is higher than the industry average.8.Kimberwick Technologies reports the following information as of December 31,2007. In addition, the company reported $1000 in depreciation expense. If the change in the cash balance for the year was $12000 using the indirect method, the cash col
12、lections and cash flow from operations (CFO) using the direct method is closest to:Cash collections CFO（）A. $49500 $ 21250B. $49500 $ 22250C. $50000 $ 21250AB C 9.With respect to closed-end investment companies, generally they.（）A. buy shares back from investors who want to sell.B. have the market p
13、rice of their shares determined by supply and demand.C. sell additional shares only through the secondary market.10.A CFA charter holder is caught shoplifting and is sentenced to nine months in prison. Is this a violation of Standard (D)（）A. Yes, because the prison sentence is more than six months.B
14、. No, because the prison sentence is less than one year.C. Yes, because the crime involved stealing.11.Paul Salyer, CFA and portfolio manager is making a presentation to a prospective client. Paul says that as a new portfolio manager, he made an average annual rate of return of 50 percent in the las
15、t two years at his previous firm and that based on this, he can guarantee a 50 percent return to the client. Which of the following statements is in accordance with the Standard (D), Performance Presentation（）A. Implying that he can guarantee a return.B. Imputing his past performance to future perfo
16、rmance.C. Stating his past performance as long as it is fact.12.Robinson Company had 1 million shares outstanding at the beginning of the year. On April 1, Robinson issued an additional 300000 shares. On July 1, Robinson issued 200000 more shares. What is Robinsons weighted average number of shares
17、outstanding for the calculation of earnings per share（）A. 1500000 shares.B. 1325000 shares.C. 1000000 shares.13.The Orchard Supply Company uses LIFO inventory valuation. Orchard Supply had a cost of goods sold of $1 million for the period. The inventory at the beginning of the period was $ 0.5 milli
18、on and the inventory at the end of the period was $0.6. Orchard Supplys LIFO reserve was $0.1 million at the end of the previous year and $ 0.2 at the end of the current year. What is Orchard Supplys cost of goods sold according to FIFO inventory valuation（）A. $ 0.8 million.B. $1.0 million.C. $ 0.9
19、million.14.Which of the following situations will most likely require a company to record a valuation allowance on its balance sheet（）A. To report depreciation, a firm uses the double-declining balance method for tax purposes and the straight-line method for financial reporting purposes.B. A firm wi
20、th deferred tax assets expects an increase in the tax rate.C. A firm is unlikely to have future taxable income that would enable it to take advantage of deferred tax assets.15.An analyst is investigating the distribution of the SMG stocks return over time. He calculated the mode of 12 percent, the m
21、ean of 11 percent, and the median of 11.5 percent. The distribution can be best described as:（）A. positively skewed, with a long tail on the left side.B. negatively skewed, with a long tail on the left side.C. positively skewed, with a long tail on the right side.16.An analyst asked an junior associ
22、ate to evaluate the performance of group of mutual funds over the last 10 years. The associate calculated the following performance statistics.The analyst suspects that the associate has made some errors in calculating the performance statistics. Based only on the expected mathematical relationship,
23、 between the two measures of return and between the two measures of dispersion calculated by the associate, did the associate most likely make errors in calculating the statistics associated with: Mutual Fund A Mutual Fund B ()A. No NoB. No YesC. Yes YesABC17.David Hoch, a graduate student at Miami
24、University, is putting together a research paper on differences in asset allocations between countries. Hochs paper contains the following statements: Statement 1: Countries with higher income tax rates typically have lower allocations to bonds. Statement 2: Countries with older populations typicall
25、y have lower allocations to equities. Statement 3: A strong government pension program may decrease the average equity allocation of a countrys citizens. Statement 4: Countries with an historical aversion to financial risk typically have lower allocations to equities. Hochs finance professor, Walter
26、 Denk, reads his research paper. Which of the following conclusions would be most valid for Denk to make（）A. Statement 2 reflects a common reason why average asset allocations differ across countries, but Statement 3 does not.B. Statement 1 reflects a common reason why average asset allocations diff
27、er across countries, but Statement 2 does not.C. Both Statements 1 and 4 reflect common reasons why average asset allocations differ across countries.18.Wei Zhang, CFA, manages accounts for high net worth clients including his own familys account. He has no beneficial ownership in his familys accoun
28、t. Because Zhang is concerned about the appearance of improper behavior in managing his familys account, when his firm purchases a block of securities, Zhang allocates to his familys account only those shares that remain after allocation to his other client accounts. The fee form managing his family
29、s account is based on his firms normal fee structure. According to the Standards of Practice Handbook, Zhangs best course of action with regard to management of his familys account would be to:()A. continue to manage his family’s account but treat it like his other client accounts.B. discontin
30、ue management of his family’s account and arrange for the account to be transferred to another firm.C. discontinue management of his family’s account and arrange for the account to he transferred to another investment manager in his firm.19.A. Lending covenants now are often made at comp
31、ound interest. B. Lending transactions now are often made at compound interest. C. Lending decisions now are often made at compound interest. D. Lending proposals now are often made at compound interest. 20.A. The money markets. B. The banks. C. The international trade. D. The buying of goods in the
32、 markets. 21.A. bill of lading B. documentary letter C. letter of credit D. insurance document 22.A. Stipulating the rate of interest. B. Stipulating the repayment date. C. Stipulating the amount and timing of any periodic cash interest payments. D. Stipulating the financial sponsor. 23.A. almost th
33、e same one B. rather different C. a little different D. doesnt mention 24.A bond is issued by a guarantor, usually a bank or an insurance company, on behalf of exporter. It is a guarantee to the buyer that the exporter will fulfill his contractual obligations. If these obligations are not fulfilled,
34、 the guarantor undertakes to pay a sum of money to the buyer in compensation. This sum of money can be anything from 1% to 100% of the contract value. If the bond is issued by a bank, then the exporter is asked to sign a counter indemnity which authorizes the bank to debit his account with any money
35、 paid out under the bond. Bonds are usually serried in connection with overseas contracts, or with the supply of capital goods and services. When there is a buyers market, the provision of a bond can be made an essential condition for the granting of the contract. Middle Eastern countries commonly r
36、equire bonds, but nowadays many other countries also require them. Most international aid agencies, such as the World Bank or the European Development Fund, and most government purchasing organizations in the developing world, now require bonds from sellers.Before a bank issues a bond for the export
37、er, the issuer and the applicant should have some kind of agreement in _ form.A. verbal B. written. C. bond D. L/C 25.A. Assuming inappropriately large financial risk can cause investors to lose sleep. B. Financial risk will not cause investors to lose sleep. C. Seeking to maximize profits appropria
38、tely can cause investors to lose sleep. D. No matter how much they earn, the investors will lose sleep. 26.A. Dollar against Pound B. document against payment C. delivery after payment D. dollar in payment 27.A. 13 days B. 30 days C. 33 days D. 23 days 28.A. At the exchange desk. B. On the board. C.
39、 On the desk. D. On the notebook. 29.A bond is issued by a guarantor, usually a bank or an insurance company, on behalf of exporter. It is a guarantee to the buyer that the exporter will fulfill his contractual obligations. If these obligations are not fulfilled, the guarantor undertakes to pay a su
40、m of money to the buyer in compensation. This sum of money can be anything from 1% to 100% of the contract value. If the bond is issued by a bank, then the exporter is asked to sign a counter indemnity which authorizes the bank to debit his account with any money paid out under the bond. Bonds are u
41、sually serried in connection with overseas contracts, or with the supply of capital goods and services. When there is a buyers market, the provision of a bond can be made an essential condition for the granting of the contract. Middle Eastern countries commonly require bonds, but nowadays many other
42、 countries also require them. Most international aid agencies, such as the World Bank or the European Development Fund, and most government purchasing organizations in the developing world, now require bonds from sellers.When the supply for a certain service is less than the demand on the market, th
43、e requirement by the importer to get a bond is much _.A. easier B. more difficult C. more happier D. the same 30.A. The issuing bank will charge a fee for giving a standby credit letter. B. The issuing bank will charge no fees for giving a standby credit letter. C. The issuing bank will amend the st
44、andby credit letter if appropriate. D. The issuing bank will revoke the standby credit letter if appropriate. 31.Which of the following is not among the generally accepted accounting principlesA. Cash basis. B. Prudence. C. Consistency. D. Going concern. 32.The cost-volume-profit (C-V-P) analysis ca
45、n be used in making decisions about _ and so on.A. selling prices B. production volumeC. levels of discretionary fixed costs D. all the three above 33.A. We are the credit card holders. B. We are the bank who can encash the card. C. We are the credit card company. D. We stopped your card losing. 34.
46、Liabilities that will be due within a short time (usually one year or less) and that are to be paid out of current assets are called _.A. long-term trust B. long-term liabilities C. current liabilities D. current investment35.A. By paying or accepting the bill of exchange. B. By paying in cash. C. B
47、y opening a letter of credit. D. By showing the bill of lading. 36.A. He will provide investment service. B. He will help the customers. C. He will join the commercial bank. D. He will purchase or sell securities. 37.A. The service fee is about 1 percent of the amount of credit involved. B. Its almost impossible for the issuer to honor the payment