第1题
What will a foreign seller do when he gets the letter of credit from the buyer?
A.He will draw a bill of exchange on the buyer's bank.
B.He will sell it and get money at once.
C.He will make payable on demand.
D.He will authorize the company to make the payment.
第2题
A derivative is a security which "derives" its value from another underlying (61) instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as (62) contracts and various indexes. Derivatives give the buyer greater leverage for a (63) cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a (64) of securities against losses. However, because derivatives have a date of (65) , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time.
(46)
A.bank
B.financial
C.mathematic
D.securities
第3题
听力原文: Back-to-Back credits consist of two entirely separate documentary credits, but one credit may act as security for the other. They apply in transactions when actual suppliers and ultimate buyers deal through a middleman. If the supplier insists on a documentary credit, the middleman may apply to his bank for a credit on his behalf. If the middleman's bank is satisfied with his creditworthiness, the bank will issue the credit in the normal way and no other formalities will apply. However, the "back-to-back" credit comes into use if the bank insists that the middleman obtain a documentary credit in his favor from the ultimate buyer as security for the "back-to-back" credit in favor of the actual supplier. Only the middleman and his banker know the "back-to-back" credit, and only they are concerned with credit.
25. What do the back-to-back credits consist of?
26.In which situation do the back-to-back credits apply?
27.In whose favor is the back-to-back credit issued.?
(25)
A.It consists of one commercial credit and one standby credit.
B.It consists of two entirely separate documentary credits.
C.It consists of a credit and some commercial documents.
D.It consists of a bill of exchange and a bill of lading.
第4题
Jenkins was a jeweller, who had made a large diamond (钻石) ring worth £57,000 for the Silkstone Jewellery Shop. When it was ready, he made a copy of it which looked【21】like the first one but was worth only £2,000. This he took to the shop, which【22】it without a question.
Jenkins gave the much more【23】ring to his wife for her fortieth birthday. Then ,the husband and wife【24】to Paris for a weekend. As to the【25】ring, the shop sold it for £60,000.
Six months later the buyer【26】it back to Silkstone's office. "It's a faulty (有瑕疵的)diamond," he said. "It isn't worth the high【27】paid. "Then he told them the【28】. His wife's car had caught fire in an【29】. She had escaped (幸免),【30】the ring had fallen off and been damaged (损坏) in the great【31】of the fire.
The shop had to【32】. They knew that no fire on earth can【33】damage a perfect diamond. Someone had taken the【34】diamond and put a faulty one in its place. The question was: who【35】it?
A picture of the ring appeared in the【36】. A reader thought he【37】the ring. The next day, another picture appeared in the papers which【38】a famous dancer walking out to a plane for Paris. Behind the dancer there was a woman【39】a large diamond ring," Do you know the【40】with the lovely diamond ring?" the papers asked their readers. Several months later ,Jenkins was sentenced to seven years in prison.
(41)
A.only
B.surely
C.nearly
D.exactly
第5题
The buyer played a large ______ for that kind of bicycle because it will sell well.
A.demand
B.command
C.order
D.purchase
第7题
(10)
A.Banks may guarantee the buyer or the seller in documentary collection.
B.Banks act as agents without responsibility of guarantee on either side.
C.Banks offer bank guarantee to both the buyer and the seller in documentary collection.
D.Banks are only responsible for the buyer in documentary collection.
第8题
Under the documentary credit, which of the following is false?
A.The buyer's bank will issue a documentary credit.
B.The seller has his bank's undertaking to pay.
C.If the seller presents the correct documents, he will be paid.
D.A bank acts as an intermediary between the buyer and seller and is willing to provide trade.
第11题
What will the buyer do if his bank buys the draft for him?
A.He will open a letter of credit.
B.He will repay the bank a short-term loan.
C.He will buy back the draft.
D.He will return the money to the seller.