2025年FRM金融風險管理師考試專業試卷：金融風險管理專業英語試題考試時間：______分鐘總分：______分姓名：______一、FinancialMarketsandInstruments要求：Inthissection,youwillbetestedonyourunderstandingofvariousfinancialmarketsandinstruments.Pleaseanswerthefollowingquestionsbasedonyourknowledgeoffinancialmarketsandinstruments.1.Whatistheprimarypurposeofafuturescontract?a)Tobuyorsellassetsatafuturedateatapredeterminedpriceb)Todeterminethefuturepriceofanassetc)Toprovideliquiditytothemarketd)Tosettledisputesbetweenparties2.Whichofthefollowingisnotacharacteristicofabond?a)Fixedinterestpaymentsb)Fixedmaturitydatec)Ownershipoftheissuerd)Convertibleintoequity3.Whatisthetermusedtodescribetheriskthattheinterestrateonabondwillchange?a)Marketriskb)Creditriskc)Inflationriskd)Interestraterisk4.Whatistheprimarypurposeofaswapagreement?a)Toexchangecashflowsbetweenpartiesb)Toavoidcapitalgainsorlossesc)Toinvestinaforeigncurrencyd)Todiversifyaninvestmentportfolio5.Whichofthefollowingisnotafeatureofaconvertiblebond?a)Convertibleintoequityb)Fixedinterestpaymentsc)Callablebytheissuerd)Issuedbyacompanywithhighcreditrisk6.Whatisthetermusedtodescribetheriskthatthevalueofanassetwilldecreaseduetochangesinthemarket?a)Creditriskb)Marketriskc)Liquidityriskd)Operationalrisk7.Whatistheprimarypurposeofarepoagreement?a)Toborrowmoneyagainstsecuritiesb)Tolendmoneytoabroker-dealerc)Toprovideliquiditytothemarketd)Toavoidcapitalgainsorlosses8.Whichofthefollowingisnotatypeofderivative?a)Futuresb)Optionsc)Warrantsd)Stocks9.Whatisthetermusedtodescribetheriskthataborrowerwilldefaultontheirobligations?a)Marketriskb)Creditriskc)Liquidityriskd)Operationalrisk10.Whatistheprimarypurposeofacreditdefaultswap?a)Toprotectagainstdefaultriskb)Toprovideliquiditytothemarketc)Toavoidcapitalgainsorlossesd)Todiversifyaninvestmentportfolio二、FinancialInstitutionsandMarkets要求：Inthissection,youwillbetestedonyourunderstandingoffinancialinstitutionsandmarkets.Pleaseanswerthefollowingquestionsbasedonyourknowledgeoffinancialinstitutionsandmarkets.1.Whichofthefollowingisnotatypeoffinancialinstitution?a)Banksb)Insurancecompaniesc)Investmentbanksd)Retailstores2.Whatistheprimaryroleofacentralbank?a)Toregulatefinancialinstitutionsb)Toprovideliquiditytothemarketc)Toissuecurrencyd)Alloftheabove3.Whichofthefollowingisnotafunctionofacommercialbank?a)Acceptingdepositsb)Lendingmoneyc)Underwritingsecuritiesd)Providinginvestmentadvice4.Whatistheprimaryroleofaninvestmentbank?a)Toprovideliquiditytothemarketb)Tounderwritesecuritiesc)Toprovideinvestmentadviced)Alloftheabove5.Whichofthefollowingisnotatypeoffinancialmarket?a)Debtmarketb)Equitymarketc)Foreignexchangemarketd)Insurancemarket6.Whatisthetermusedtodescribetheriskthatafinancialinstitutionwillfail?a)Creditriskb)Marketriskc)Liquidityriskd)Systemicrisk7.Whatistheprimarypurposeofafinancialregulatoryagency?a)Topromotefinancialstabilityb)Toprotectconsumersc)Toensurefairandtransparentmarketsd)Alloftheabove8.Whichofthefollowingisnotatypeoffinancialinstrument?a)Stockb)Bondc)Currencyd)Derivative9.Whatisthetermusedtodescribetheriskthatafinancialinstitutionwillbeunabletomeetitsshort-termobligations?a)Creditriskb)Marketriskc)Liquidityriskd)Operationalrisk10.Whatistheprimarypurposeofafinancialmarket?a)Tofacilitatetheexchangeoffinancialassetsb)Toprovideliquiditytothemarketc)Toallocatecapitalefficientlyd)Alloftheabove三、FinancialInstrumentsandMarkets要求：Inthissection,youwillbetestedonyourunderstandingoffinancialinstrumentsandmarkets.Pleaseanswerthefollowingquestionsbasedonyourknowledgeoffinancialinstrumentsandmarkets.1.Whatistheprimarypurposeofafuturescontract?a)Tobuyorsellassetsatafuturedateatapredeterminedpriceb)Todeterminethefuturepriceofanassetc)Toprovideliquiditytothemarketd)Tosettledisputesbetweenparties2.Whichofthefollowingisnotacharacteristicofabond?a)Fixedinterestpaymentsb)Fixedmaturitydatec)Ownershipoftheissuerd)Convertibleintoequity3.Whatisthetermusedtodescribetheriskthattheinterestrateonabondwillchange?a)Marketriskb)Creditriskc)Inflationriskd)Interestraterisk4.Whatistheprimarypurposeofaswapagreement?a)Toexchangecashflowsbetweenpartiesb)Toavoidcapitalgainsorlossesc)Toinvestinaforeigncurrencyd)Todiversifyaninvestmentportfolio5.Whichofthefollowingisnotafeatureofaconvertiblebond?a)Convertibleintoequityb)Fixedinterestpaymentsc)Callablebytheissuerd)Issuedbyacompanywithhighcreditrisk6.Whatisthetermusedtodescribetheriskthatthevalueofanassetwilldecreaseduetochangesinthemarket?a)Creditriskb)Marketriskc)Liquidityriskd)Operationalrisk7.Whatistheprimarypurposeofarepoagreement?a)Toborrowmoneyagainstsecuritiesb)Tolendmoneytoabroker-dealerc)Toprovideliquiditytothemarketd)Toavoidcapitalgainsorlosses8.Whichofthefollowingisnotatypeofderivative?a)Futuresb)Optionsc)Warrantsd)Stocks9.Whatisthetermusedtodescribetheriskthataborrowerwilldefaultontheirobligations?a)Marketriskb)Creditriskc)Liquidityriskd)Operationalrisk10.Whatistheprimarypurposeofacreditdefaultswap?a)Toprotectagainstdefaultriskb)Toprovideliquiditytothemarketc)Toavoidcapitalgainsorlossesd)Todiversifyaninvestmentportfolio四、RiskManagementConcepts要求：Inthissection,youwillbetestedonyourunderstandingofriskmanagementconcepts.Pleaseanswerthefollowingquestionsbasedonyourknowledgeofriskmanagement.4.Whatisthedefinitionofrisk?a)Theuncertaintyoflossb)Thepotentialforprofitc)Thevolatilityofassetpricesd)Thestandarddeviationofreturns五、CreditRisk要求：Inthissection,youwillbetestedonyourunderstandingofcreditrisk.Pleaseanswerthefollowingquestionsbasedonyourknowledgeofcreditrisk.5.Whatistheprimarymethodusedtoassessaborrower'screditworthiness?a)Creditscoringb)Creditanalysisc)Creditratingsd)Alloftheabove六、OperationalRisk要求：Inthissection,youwillbetestedonyourunderstandingofoperationalrisk.Pleaseanswerthefollowingquestionsbasedonyourknowledgeofoperationalrisk.6.Whichofthefollowingisnotacomponentofoperationalrisk?a)Peopleb)Processesc)Technologyd)Alloftheabove本次試卷答案如下：一、FinancialMarketsandInstruments1.a)Tobuyorsellassetsatafuturedateatapredeterminedprice解析：期貨合約的主要目的是允許雙方在未來的某個日期以預定的價格買賣資產。2.c)Ownershipoftheissuer解析：債券不具備所有權特征，而是債務工具，代表了對發行人的債權。3.d)Interestraterisk解析：利率風險是指由于利率變動而導致的債券價值下降的風險。4.a)Toexchangecashflowsbetweenparties解析：掉期協議的主要目的是在雙方之間交換現金流。5.d)Issuedbyacompanywithhighcreditrisk解析：可轉換債券通常由信用風險較低的公司發行，而不是信用風險高的公司。6.b)Marketrisk解析：市場風險是指由于市場價格變動而導致資產價值下降的風險。7.a)Toborrowmoneyagainstsecurities解析：回購協議的主要目的是通過質押證券來借款。8.d)Derivative解析：股票、債券和貨幣都不是衍生品，衍生品是通過其他資產價格變動作出定價的金融工具。9.b)Creditrisk解析：信用風險是指借款人未能履行債務的風險。10.a)Toprotectagainstdefaultrisk解析：信用違約互換的主要目的是保護持有者免受違約風險的影響。二、FinancialInstitutionsandMarkets1.d)Retailstores解析：零售商店不是金融機構，而是商業零售企業。2.d)Alloftheabove解析：中央銀行的角色包括監管金融機構、提供市場流動性和發行貨幣。3.c)Underwritingsecurities解析：投資銀行的主要角色是承銷證券，而不是接受存款、貸款或提供投資建議。4.d)Alloftheabove解析：投資銀行的功能包括提供市場流動性、承銷證券和提供投資建議。5.d)Insurancemarket解析：保險市場不是傳統意義上的金融市場，而是保險產品和服務交易的市場。6.d)Systemicrisk解析：系統性風險是指整個金融系統面臨的風險，而不是個別金融機構的風險。7.d)Alloftheabove解析：金融監管機構的主要目的是促進金融穩定、保護消費者和確保市場的公平和透明。8.d)Alloftheabove解析：金融工具包括股票、債券、貨幣和衍生品。9.c)Liquidityrisk解析：流動性風險是指金融機構無法滿足其短期償付義務的風險。10.d)Alloftheabove解析：金融市場的目的是促進金融資產的交換、提供市場流動性、分配資本和提高效率。三、FinancialInstrumentsandMarkets1.a)Tobuyor