Section One (10%)
　　Directions: There are ten statements in this section. For each statement there are four choices marked A,B,C,D.You should choose the best answer.
　　31. Which activities are not the investment banking activities?
　　A. underwriting new issues
　　B. financial advising
　　C. dealing and broking
　　D. savings’taking
　　32. ___________is the purchase of one company by another using mainly borrowed funds.
　　A. A horizontal merger
　　B. A leveraged buyout
　　C. A vertical merger
　　D. A MBO
　　33. The bill of lading is evidence of ownership. It thus functions as a ________.
　　A. receipt for goods
　　B. contract for delivery
　　C. title document
　　D. negotiable instrument
　　34. Liquidity ______________.
　　A. is a measure of how quickly an item may be converted to foreign currencies
　　B. is a measure of how quickly an item may be converted to cash
　　C. is a measure of how quickly an item may be converted to liabilities
　　D. is a measure of how quickly an item may be converted to fixed capital
　　35. Among various worries concerning the internet banking, the first and foremost is the problem of __________.
　　A. profit
　　B. interest
　　C. client
　　D. security
　　36. According to the rules of debit and credit for balance sheet accounts ______________.
　　A. decreases in asset, liabilities, and owner’s equity accounts are recorded by debits
　　B. increases in liabilities and owner’s equity accounts are recorded by credits
　　C. decreases in liabilities and asset are recorded by credits
　　D. increases in asset and owner’s equity are recorded by debits
　　37. _________ consist of a simultaneous sale or purchase of currency.
　　A. Spot transactions
　　B. Forward transactions
　　C. Option forward transactions
　　D. Swap transaction
　　38. Cash inflows from financing activities for a bank exclude: ________.
　　A. receiving deposits
　　B. issuance of equity securities (capital stock)
　　C. issuance of debt securities ( bond, notes, mortgages)
　　D. redemption of debt
　　39. When a bank holds some valuables on behalf of its customer, the relationship between the bank and customer is ___________.
　　A. debtor-----creditor
　　B. bailor--------bailee
　　C. principal-----agent
　　D. trustor-------trustee
　　40. The red clause documentary credit is often used as a method of ______.
　　A. providing the seller with funds prior to shipment
　　B. providing the buyer with funds prior to shipment
　　C. providing the seller with funds after shipment
　　D. providing the buyer with funds after shipment

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