2012年金融英语证书考试FECT模拟试题-3

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2012年金融英语证书考试FECT模拟试题-3
[简答题]Bancassurance
[名词解释]Margin requirement
[名词解释]Secondary market
[单项选择]School students paying a lower fare than adults on the MTR trains, or cheaper tickets to the theatre, is an example of: （　）
A. The suppliers making less profit because some customers pay a lower price.
B. Consumers obtaining more consumer surplus.
C. Price discrimination allowing the suppliers to make more profit from charging a higher price to
D. Price discrimination allowing the suppliers to make more profit from charging a lower price to customers whose demand is more elastic.
[简答题]What is Financial Liberalization And what is The Nature of Financial Liberalization
[单项选择] There is 5-year annuity of $3,000 per year. However, the first payment will not pay until year 3. Assuming the interest rate is 10%, calculate the present value of this annuity. ( )
A. $8397.
B. $9,399.
C. $10,258.
D. None of the above.
[名词解释]Interest ceiling
[单项选择]What market is the Most in need of the advertising ( )
A. Fully competitive market
B. Monopolize market
C. Competitive monopoly market
D. Oligopoly market
[单项选择] With C = 10 + 0.7Y and the level of income changing from $70 billion to $80 billion, the increase in consumption and the revised average propensity to consume (ape) respectively would be: ( )
A. $9 billion and 0.78.
B. $6 billion and 0.8.
C. $7 billion and 0.79.
D. $7 billion and 0.825.
[单项选择]Which belongs to the Tightening of fiscal policy tools ( )
A. Reduce government spending and increase tax revenue
B. Reduce government spending and reduce taxes
C. Increasing government spending and reducing taxes
D. Increase in government expenditure and increase tax revenue
[简答题]Explain the Mechanism of Money Supply.
[单项选择] In the context of break-even analysis, the Margin of Safety for a firm is: ( ) 　　
A. The difference between the sales revenue achieved and the break-even revenue.
B. The difference between planned (or actual) output and the break-even quantity in a particular time period.
C. The percentage difference between planned (or actual) output and the break-even quantity.
D. The difference between planned (or actual) output and the break-even quantity.
[简答题]List the Counter-measures of Deflation as more as possible.
[单项选择]Which of the following goods is likely to have the most elastic demand ( ) 　　
A. A particular brand of breakfast cereal.
B. Breakfast cereals in general.
C. A very cheap good on which not much is spent (e.g. matches newspaper) .
D. An essential good.
[单项选择]The value of national output: ( )
A. Is the same of the output of all businesses.
B. Is the aggregate of output of employed persons.
C. Is synonymous with aggregate manufacturing output.
D. Utilizes the "added value" concept.
[名词解释]Bank for International Settlements (BIS)
[简答题]Let’s take an example. Suppose that a share of Haier in the Hong Kong Stock Market had a closing price yesterday of HK $ 10, but new information was announced after the market closed that caused a revision in the forecast of price next year to go to HK $15. If the annual equilibrium return on Haier is 20%, what does efficient markets theory indicate the price will go to today when the market opens (Assume that Haier pays no dividends.)
[单项选择]A futures trader goes long one futures contract at $450. The settlement price 1 day before expiration is $500. On expiration day, the future is trading at $505. The least likely way the futures trader will lock in her profits on expiration is: ( )
A. Take delivery of the underlying asset and pay $500 to the short.
B. Close out the futures position by selling the futures contract at $505.
C. Take delivery of the underlying asset and pay the expiration settlement price to the short.
D. Cash settle the futures and receive the difference between $500 and the expiration settlement price.
[简答题]What is the Function of stock exchanges