FECT 初级 2000 年真题及答案

　　Reading Part Two
　　Section One (10%)
　　Direction：There are ten statements in this section. For each statement there are four choic es marked A, B, C, and D. You should choose the best answer and mark the corresponding lette r on the ANSWER SHEET by drawing a single line through the center.
　　31. Since April 1994, the RMB exchange rate has been determined by .
　　A. the China foreign Exchange Trading System
　　B. the People’s Bank of China
　　C. supply and demand as well as trading situations in the China Foreign Exchange Swap Market
　　D. supply and demand as well as trading situations in the unified interbank foreign exchange market
　　32. If near money is to be used directly to purchase goods or services,it must be .
　　A. permitted by the business company
　　B. endorsed by the holder
　　C. drawn from a bank first
　　D. converted into cash or sight deposit
　　33. Which of the following is not one of the function of money?
　　A. Medium of exchange
　　B. Store of value
　　C. Financial assets
　　D. Standard for deferred payment
　　34. Unless otherwise stated in the letter of credit, banks will not accept presente d by the beneficiary.
　　A. the open cover
　　B. the cover note
　　C. the insurance certificate
　　D. the insurance policy
　　35. Factoring provides the following services except .
　　A. maintenance of the sales ledger
　　B. collection of accounts receivable
　　C. 100% non-recourse finance to the seller despite commercial disputes between the seller and the buyer
　　D. credit risk protection on the buyer
　　36. When the exported goods are insured under an open cover agreement, is the most appropriate document as evidence of insurance.
　　A. an open policy
　　B. an insurance certificate
　　C. an insurance policy
　　D. an inspection certificate
　　37. Advances to the importer can be given in the following ways except .
　　A. limits for issuing letters of credit
　　B. inward bills receivable
　　C. packing loans
　　D. delivery against the bank guarantee
　　38. As far as the beneficiary is concerned the letter of credit which is available by
　　 is the least favourable.
　　A. negotiation
　　B. acceptance
　　C. sight payment
　　D. deferred payment
　　39. Deposits, taken within the territory of the People’s republic of China by a foreign fin ancial institution shall not exceed percent of its total assets.
　　A. 20
　　B. 30
　　C. 40
　　D. 60
　　40. “Pay Chen RMB10,000 on the date of his marriage.” This is .
　　A. a bill of exchange
　　B. a cheque
　　C. a promissory note
　　D. an order