金融exercise for234选择题样题Word文档格式.docx
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金融exercise for234选择题样题Word文档格式.docx
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Whichofthefollowingisconsideredacapitalinflow?
AsaleofU.S.financialassetstoaforeignbuyer
AloanfromaU.S.banktoaforeignborrower
ApurchaseofforeignfinancialassetsbyaU.S.buyer
AU.S.citizen'
srepaymentofaloanfromaforeignbank
3.
Inacountry'
sbalanceofpayments,whichofthefollowingitemswillberecordedasadebitentry?
Domesticbankbalancesownedbyforeignersarereduced
Foreignbankbalancesownedbydomesticresidentsarereduced
Assetsownedbydomesticresidentsaresoldtononresidents
Securitiesaresoldbydomesticresidentstononresidents
4.
WhenaU.S.residentincreasesherholdingsofaforeignfinancialasset,thisitemisrecordedasa:
creditentryintheU.S.currentaccount.
debitentryintheU.S.currentaccount.
creditentryintheU.S.capitalaccount.
debitentryintheU.S.capitalaccount.
5.
WhichofthefollowingwouldtendtocontributetoaU.S.currentaccountsurplus?
TheUnitedStatesmakesaunilateraltariffreductiononimportedgoods.
TheUnitedStatescutsbackonAmericanmilitarypersonnelstationedinJapan.
U.S.touriststravelinlargenumberstoAsia.
RussianvodkabecomesincreasinglypopularintheUnitedStates.
6.
Acountryexperiencingacurrentaccountsurplus:
needstoborrowinternationally.
isabletolendinternationally.
mustalsohavehadasurplusinitsoverallpaymentsbalance.
spendsmorethanitearnsonitsmerchandiseandtrade,internationalincomepaymentsandreceiptsandinternationaltransfers.
7..
Anationisconsideredtobea(n)_____intheinternationalmarket,ifitscurrentaccountisindeficit.
importer
exporter
borrower
lender
8.
Anationiscalledalenderif:
itsfinancialaccountisindeficitduringatimeperiod.
itscurrentaccountisinsurplusduringatimeperiod.
itscurrentaccountisindeficitduringatimeperiod.
itsnetstockofforeignassetsispositive.
9.
Anationiscalledacreditorif:
itprovidedfinancialassetstoothercountries.
10.
Theinternationalinvestmentpositionofacountryshows:
itsstocksofinternationalassetsduringatimeperiod.
itsstocksofinternationalliabilitiesduringatimeperiod.
itsstocksofinternationalassetsandliabilitiesatapointintime.
whetheritscurrentaccountisindeficitorsurplusatapointintime.
11.
IfthepriceofBritishpoundsintermsoftheU.S.dollarsis$1.80perpound,thenthepriceofU.S.dollarsintermsofBritishpoundsis:
≤1.80perdollar.
≤0.555perdollar.
≤0.90perdollar.
≤3.60perdollar.
12.
RapidincreasesintheU.S.exportsofgoodsandswillresultina(n)_____foreigncurrencyanda(n)_____theU.S.dollarsintheforeignexchangemarket.
increaseinthedemandfor;
increaseinthesupplyof
increaseinthesupplyof;
increaseinthedemandfor
shortageof;
surplusof
decreaseinthesupplyof;
decreaseinthedemandfor
13.
AnincreaseintheU.S.importsofgoodsandsfromtheEUcountrieswillresultina(n)_____euroanda(n)_____theU.S.dollarsintheforeignexchangemarket.
decreaseinthedemandfor;
decreaseinthesupplyof
surplusof;
shortageof
14.
AssumeyouareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:
sellingdollarsinthe60-dayforwardexchangemarket.
buyingdollarsnowandsellingthesedollarsattheendof60days.
sellingtheyuanequivalentintheforwardexchangemarketfor60-daydelivery.
keepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.
15.
AssumeyouareanAmericanimporterwhomustpay500,000Eurosattheendof90dayswhenyoureceive1,000casesofFrenchwineatyourwarehouseinNewYork.Supposethatyouhavenotcoveredthistransactionintheforwardmarket,inwhichofthefollowingcaseswillyousufferthelargestloss?
Theeurospotexchangeratevaluevis-à
-visthedollardoesnotchange
Theeuro(spot)initiallyappreciatesby2percent,andthendepreciatesby1percent
Theeuro(spot)initiallydepreciatesby3percent,andthenappreciatesby2percent
Theeuro(spot)initiallyappreciatesby3percent,andthendepreciatesby2.9percent
16.
A_____givestheholdertherightbutnottheobligationtosellaforeigncurrencyatsometimeinthefutureatapricesettoday.
forwardexchangecontract
currencyswap
putoption
calloption
17.
Whichofthefollowingfinancialinstrumentsprovidesabuyertheright(butnottheobligation)topurchaseorsellafixedamountofcurrencyataprearrangedprice,withinafewdaystoafewyears?
Letterofcredit
Currencyoption
Currencyswap
Forwardcontract
18.
Aninvestmentis_____ifitisfullyhedgedagainstexchange-raterisk.
covered
uncovered
speculative
riskneutral
19.
Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofacoveredinternationalinvestment?
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate
Buyadollar-denominatedfinancialasset
20.
Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofanuncoveredinternationalinvestment?
21.
Thecoveredinterestdifferentialis_____thesumoftheforwardpremiumonacurrencyandtheinterestratedifferential.
approximatelyequalto
morethan
exactlyequalto
lessthan
22.
Theexchangeratevalueofaforeigncurrencyis_____intheshortrunbyariseintheexpectedfuturespotexchangeratevalue.
raised
lowered
madevolatile
notaffected
23.
_____isbuyingacountry'
scurrencyspotandsellingthatcountry'
scurrencyforward,tomakeanetprofitfromthecombinationofthedifferenceininterestratesbetweencountriesandtheforwardpremiumonthecountry'
scurrency.
Coveredinterestarbitrage
Uncoveredinterestarbitrage
Coveredinterestparity
Uncoveredinterestparity
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