FECT初級考試1999年考題

LISTENING(20

Points)

PartOne

Directions:Inthissection,youwillheartenshortstatements.Eachstatementwillbe

spok

enonlyonce.Aftereachstatementtherewillbeapause.Duringthepause,youmust

readth

efoursuggestedanswersmarkedA,B,C,andD,anddecidewhichisthebestanswer.

Thenma

rkthecorrespondingletterontheANSWERSHEETwithasinglelinethroughthe

center.

Nowyouwillheartheexample:

ShewenttothebankwithMr.Smith.

Youwillread:

A.Shewenthome.B.ShelikedMr.Smith.

C.Shewenttothebank.D.ShewenttoMr.Smith'shouse.

StatementC,“Shewenttothebank”istheclosestinmeaningtothestatement"She

went

tothebankwithMr.Smith.^^Therefore,youshouldchooseanswerC.

Nowlistentothestatements.

l.A.YoucangetthefundsbyM/T.B.YoucanremitthemoneybyM/T.

C.ThefundsaresentbyM/T.D.YouhavesentthemoneybyT/T.

2.A.Therearethreecopies.B.Thedocumentshavebeenmadeout.

C.Thedocumentsareoftenmadeoutin3copies.D.Therearethreedocuments.

3.A.Youhavesignedthecontractwiththem.B.Youwillsignthecontractwiththem.

C.Youareinterestedinsigningthecontract.D.You'llbeaskedtosignthecontract.

4.A.Mustthetimedraftbepresented?B.Atwhattimemustdraftbepresented?

C.Whenhasthetimedraftbeenpaid?D.Mustthetimedraftbepaid?

5.A.TheloanisofUSD50,000.B.TheloanisofUSD5,000.

C.TheloanisofUSD50,000,000.D.TheloanisofUSD500,000.

6.A.Thepositionisheldbyspottransactions.

B.Thereisapositioninforeignexchangemarket.

C.Spottransactionisthemostimportanttransactioninexchangemarket.

D.Foreignexchangemarketisheldbyspottransactions.

7.A.Thereceiptwassenttoyou.B.Thepayer'sreceiptshouldbesentaway.

C.Pleasepayusagainstthepayee'sreceipt.D.Pleasesendusthepayee'sreceipt

8.ABankersarebecomingmoreableinmodernbusiness.

B.Banksareworkingwithglobalstrategyintheiroutlookandorganization.

C.Banksaregrantingmoreloanstoorganizations.

D.Therearemorecommercialbanksmanaginginforeignexchangedealing.

9.A.Moreandmorebookkeepingworkisdonebycomputers.

B.Thereismorebookkeepingworkafterusingcomputers.

C.Bookkeepingworkgoesmoredetailedatalllevels.

D.Bookkeepingworkisalldonebycomputers.

10.A.Wehavehadyourspecimensignature.

B.Youshouldprovideuswithyourspecimensignatures.

C.Youshouldsignonthespace.

D.It'snecessaryforyoutosignthestatement.

PartTwo

Direction:Inthissection,youwillhearsomeshortconversations.Attheendofeach

conve

rsation,aquestionwillbeaskedaboutwhatwassaid.Theconversationandthequestion

wil

1bespokenonlyonce.Duringthepause,youmustreadthefourchoicesmarkedA,B,C,

and

D,anddecidewhichisthebestanswer,thenmarkthecorrespondingletteronthe

ANSWERSHE

ETwithasinglelinethroughthecenter.

Nowyouwillhear:

M:DoesourbankhaveadirectcorrespondentrelationshipwiththeBradlay'sBank?

W:No,wedon't.SowehavetoadvisethisL/Cviaanotherbank.

Q:Whichofthefollowingisright?

Nowyouwillread:

A.WecanadvisethisL/CtotheBradlay'sBank.

B.TheBradlay'sBankisourcorrespondent.

C.TheL/Chastobeadvisedbyathirdbank.

D.WeshouldadvisethisL/Cbyourselves.

FromtheconversationweknowthatwehavetoadvisethisL/Cviaanotherbank.The

bestans

werisC.ThereforeyoushouldchooseanswerC.

11.AForeignexchangeB.Foreignexchangerisk.

C.ForeignexchangemarketD.Changeofhomecurrencyvalue.

12.AVerygood.B.notgoodC.TotallyunsatisfactoryD.Verybad

13.A.TothepostofficeB.Tothedepartmentstore.C.Tothecitybranch.D.ToDEF

Compan

y

14.A.OneB.TwoC.ThreeD.Four

15.A.$1.5605B.$1.5615C.$1.5625D.$1.5635

PartThree

Direction:Inthissection,youwillheartwoshortpassages.Attheendofeachpassage,

yo

uwillhearsomequestions.ThepassagesandthequestionswillbespokenonlyONCE.

Aftery

ouhearaquestion,youmustchoosethebestcorrespondinglettersontheANSWER

SHEETwith

asinglelinethroughthecenter.

16.ACheckcardsB.DebitcardsC.CashcardsD.Creditcards

17.A.DifferaccordingtothetermsofloansB.Thereislittledifference.

C.Varyalotaccordingtocustomers.D.Theyaredifferentamongcountriesandbanks.

18.A.5percentoverthebaserate.B.Lessthan4percent.

C.4percentoverthebaserate.D.Morethan5percent.

19.A.Financialtechnology.B.Financialinnovations

C.FinancialengineeringD.Financialopportunities

20.A.Itisanewdevelopment.B.Itisakindofcomplicatedterm.

C.Itisafinancialinnovation.D.Itisabroadterm.

READINGANDWRITING

PartOne(15points)

Direction:Therearetenblanksinthefollowingpassage.Foreachblanktherearefour

choi

cesmarkedA,B,C,andD.Youshouldchoosethebestanswerandmarkthe

correspondinglett

erontheANSWERSHEETbydrawingasinglelinethroughthecenter.

21.isthefoundationofprivateaccounting,whichanalyzesabusiness,coststohelp

manag

erscontrolexpenses.

A.BudgetingB.ManagementinformationsystemC.InternalauditingD.Cost

accounting

22.YouarerequestedtosendustoauthenticatingthecableL/Csissuedbyyourbankin

the

future.

A.yourspecimensignaturebookB.yourtelegraphictestkey

C.yourtariffsD.yourtermsandconditions

23.Ifthesupplyincreasesatamorerapidratethantheproductionofgoodsandservices,

istheresult.

A.capital....DeflationB.capital....inflation

C.money....inflationD.money...deflation

24.Aredclauseletterofcreditcontainsa“redclause“whichauthorizesanintermediat

ebanktotothesellerbeforeshipment.

A.effectnegotiationB.giveanadviceC.makepaymentD.grantanadvice

25.Iftheexporterisbadlyinneedoffundstofulfillthecontract,hewouldaskthebuye

rtoprovidea,ifpossible.

A.revocableDocumentaryCreditB.irrevocableDocumentaryCredit

C.redclauseDocumentaryCreditD.stand-byDocumentaryCredit

26.UnderCIFterm,thesellerisresponsiblefor.

A.producingcleanbillofladingmarked“shippedonboard"and"freightpayableat

the

destination”.

B.Arrangingforissuingofimportlicenseandpaymentofimportcosts,dutiesandtaxes.

C.Payingallthecostsrelatingtothegoodsbeforethetimetheyhavepassedtheship'sr

ailattheportofdelivery.

D.Beatallrisksoflossofdamagetothegoodsuntilsuchtimeastheyhavearrivedat

the

namedportofdestination.

27.Whencapitalinflowsintoanation,itseffectonthenation'sbalanceofpayments

acco

untsis.

A.surplusincreasesB.deficitincreasesC.noeffectD.alloftheabove

28.Liquidity.

A.isameasureofhowquicklyanitemmaybeconvertedtoforeigncurrencies

B.isameasureofhowquicklyanitemmaybeconvertedtocash.

C.isameasureofhowquicklyanitemmaybeconvertedtoliabilities.

D.isameasureofhowquicklyanitemmaybeconvertedtofixedcapital

29.Failuretomakepaymentsofinterestorrepaymentofprincipalontheduedateis

called

.A.defaultB.bankruptcyC.deferredpaymentD.ill-will

30.Ifthegoodsweredispatcheddirectlytothecollectingbankwithoutprior

arrangement,

shouldtakeallrisksarisingfromthedispatchment.

A.theshippingcompanyB.theconsigneeC.themasteroftheshipD.theconsigner

31.Ifatelexdoesnotstatethatthemailconfirmationistheonlyoperativecreditinstru

ment,thetelexwillbecertainly.

A.theoperativecreditinstrumentB.theconfirmationtotheadvisingbank

C.thenegotiationsentbytheissuingbankD.thedocumentsoftheconfirmingbank

32.Performancebondsundertakethatastatedpenaltyistobepaidbytheifthe

contracted

goodsarenotoftherequiredstandard.

A.exporterB.consigneeC.importerD.bank

33.Forordinaryremittance,theremittingbankshalltransfertothepayingbank's

account

onthedateofremittance.

A.themoneyB.thecoverC.theamountD.theproceeds

34.isdefinedasanunconditionalorderinwritingdrawnonabanksignedbythe

drawer,r

equiringabanktopayondemandasumcertaininmoneyto,ortotheorderofanamed

perso

nortothebearer.

A.AdraftB.ApromissorynoteC.AchequeD.Abond

35.Banksusuallyaskfor,whenchequesarecashedoverthecounter(notusuallyfor

custom

er'sownchecks).

A.guaranteesB.reimbursementsC.endorsementsD.certificatesissuedbyauthorities

concer

ned

PartTwo(10points)

Directions:Therearetenblanksinthefollowingpassage.Foreachblanktherearefour

cho

icesmarkedA,B,C,andD,.Youshouldchoosethebestanswerandmarkthe

correspondingle

tterontheANSWERSHEETbydrawingasinglelinethroughthecenter.

PassageOne

Thereasonswhytheauthoritiesinthedevelopingcountries,aswellasinmany

developedon

es.36tomaintaininterestratesatlowlevelsmightbebrieflymentionedasfollows:the

d

esiretokeepdownthecostofservicingthepublicsector's37;thesuspicionthatoligop

olisticfinancialmarketswouldsetexcessivelyhighlendingrates,especiallyforsmaller

b

orrowers,orexcessivelylarge38betweendepositandlendingrates;fearsthathigher

inter

estratesdamage39sectorsorgroups;thebeliefthathigherinterestratesresultin40in

vestmentandgrowth;concernsabouttheadjustmentcosts41bothfinancialinstitutions

and

non-financialenterprises;andworriesthatariseininterestratesmaybe42,eitherthr

oughthedirectimpactoncostsortheindirecteffectthroughexpectations.Inmany

instanc

es,apolicyofretaininglowinterestratesthroughadministrativecontrolsarisesfromad

esireto43theconsequencesofotherpolicesbeingpursued,suchasmaintainingalarge

44

and45privatecreditexpansion,oninterestrates,investmentandgrowth.

36.AschemeB.aredisinclinedC.disagreeD.areinclined

37.A.productsB.costsC.managementD.debt

38.A.profitsB.assetsC.spreadsD.spaces

39.A.runningB.managingC.disadvantagedD.advantaged

40A.higherB.lowerC.quickerD.slower

41.A.managedbyB.resultedfromC.facedbyD.producedby

42.A.prosperousB.inflationaryC.deflectableD.recessive

43.A.bringaboutB.avoidC.resultinD.appealfor

44.A.fiscaldeficitB.revenueC.currencyvolumeD.stock

45.A.extendingB.supportingC.developingD.limiting

PartThree(10points)

Directions:Readthefollowingpassages,determiningthesentences“Right”or

“Wrong

Ifthereisnotenoughinformationtoanswer“Right“oruWrong”,choose“Doesn't

say.”

ThenmarkthecorrespondingletterontheANSWERSHEETbydrawingasingleline

throughthe

center.

PassageOne

Mostbillsofladingare“shipped”billsoflading,butsomeothersknowas''receivedfor

shipment^^billsoflading(alsocalled''alongside“billsoflading)arealsoused.Thed

ifferencebetweenthesetwotypesmaybeseenfromthefollowingexamples:

"Shippedinapparentgoodorderandconditionby....onboardthesteamshipofmotor

vessel

"Receivedinapparentgoodorderandconditionfrom.....forshipmentontheship....

Orot

herpersons.…”

Wheretheshipownerissuesa“shipped“billsoflading,loadedonboardhisship;

Whereh

eissuesa"receivedforshipment^^billsoflading,heacknowledgethatthegoodsarestor

edunderhiscontrolwaitingforshipment.Thebuyerunderaciorfobcontractmay

rejecta

''receivedforshipment“billsofladingandinsistona“shipped“billsoflading,unles

sthecontraryisexpresslyagreeduponbythepartiestothecontractoriscustomaryina

particulartrade.

46.Mostbillsofladingare“clean"billsoflading.

A.RightB.WrongC.Doesn'tsay

47.Wheretheshipownerissuesan“onboard^^billoflading,heacknowledgesthatthe

good

sareloadedonboardhisship.

A.RightB.WrongC.Doesn'tsay

48.Thebuyerrejecta"receivedforshipment“billsofladinginanycase.

A.RightB.WrongC.Doesn'tsay

PassageTwo

Accountingprovidesthetechniquesforgatheringeconomicdataandthelanguagefor

communic

atingsuchdatatodifferentindividualsandinstitutions.

Investorsinabusinessenterpriseneedinformationaboutitsfinancialstatusanditsfutur

eprospects.Bankersandsuppliersappraisethefinancialsoundnessofabusiness

organizati

onandassesstherisksinvolvedbeforemakingloansorgrantingcredit.Government

agencies

areconcernedwiththefinancialactivitiesofbusinessorganizationsforpurposeof

taxati

onandregulation.Employeesandtheirunionrepresentativesarealsovitallyinterested

in

thestabilityandtheprofitabilityoftheorganizationthathiresthem.Allofthem,indivi

dualsorinstitutions,canobtainnecessaryinformationandmaketheirappropriate

decisions

withthehelpofaccountingtechniques.Forexample,comparisonofpastperformance

withpl

annedobjectivesmayrevealthemeansofacceleratingfavorabletrendsandreducing

thoseth

atareunfavorable.

49.Thefinancialpositionandfutureprospectsareoftheconcernofbusinessinvestors.

A.RightB.WrongC.Doesn'tsay

50.Beforemakingloanstocustomers,bankswouldtrytogetridofrisksinvolved.

A.RightB.WrongC.Doesn'tsay

51.Employeesmayshowlittleconcernintheearningofabusinessenterpriseinwhich

they

work.

A.RightB.WrongC.Doesn'tsay

52.Accordingtothispassage,peoplecanhardlyacquireandexchangeeconomicdata

bymeans

ofaccountingtechniques.

A.RightB.WrongC.Doesn'tsay

PassageThree

Similartoanon-financialbusiness,acommercialbankobtainsfundsfromcreditorsand

shar

eholders;usesfundsforitsrawmaterials,labor,andcapital,andrecoversfunds,

hopefull

yinexcessoftheamountspent.Therawmaterialspurchasedarefundsinsteadofiron,

clot

horfood,andtheproductssoldarefundspackagedinausableforminsteadofsteel,

cloth

ing,orgroceries.Asinanon-financialbusinessabankmanagement'sbasicobjective

shoul

dbetomaximizethevalueoftheowner'sinvestmentinthebank.Usefulinformationon

the

appropriatetradeoffsbetweenreturnsmadeandriskstakenisobtainedfromrelatively

effic

ientmarketsformostpubliclyheldbanks,Themanagementofsmallerbanksseeksto

achieve

thehighestreturnsfortheriskleveldeemedappropriatebytheshareholders.

53.Therecoveryoffundsofacommercialbankisideallymanagedonaparallelwithits

exp

enditure.A.RightB.WrongC.Doesn'tsay

54.Acommercialbankshouldtryitsbesttoincreasetheprofitsofitscreditorand

owners

hipsources.A.RightB.WrongC.Doesn'tsay

55.Relativelyefficientmarketcanusuallyprovideinformationonthecreditworthiness

of

acommercialbank.A.RightB.WrongC.Doesn'tsay

PartFour(15points)

Directions;Therearethreepassagesinthispart.Eachpassageisfollowedbysome

question

sorunfinishedstatementsForeachofthemtherearefourchoicesmarkedA,B,C,and

D.Yo

ushouldhavethebestchoiceandmarkthecorrespondingletterontheANSWER

SHEETbydrawi

ngasinglelinethroughthecenter.

PassageOne

Wewillliveinasocietywhencashnolingerexists.Instead,"cash"wouldbeelectronic,

asinbank-cardsystems.Notesandcoinswouldbeabandoned.Itsbenefitswouldbe

profound

andfundamental.Theftofcashwouldbecomeimpossible.Bankrobberiesandcash-

registerrob

berieswouldceasetooccur.Attacksonshopkeepers,taxi-drivers,andcahierswouldall

en

d.Pursesnatchingwouldbecomeathingofthepast.Urbanstreetswouldbecomesafe.

Retail

shopsinoncedangerousareascouldoperateinsafety.Securitiescostandinsurance

premia

mwouldfall.Propertyvalueswouldrise.Neighborhoodwouldimprove.Inthelongrun,

acha

ngefromcashtorecordedelectronicmoneywouldbeaccompaniedbyaflowof

previouslyinco

me-taxrevenuesrunninginthetensofbillionsofdollars.Asaresult,income-taxrate

cou

Idbeloweredorthenationalreduced.

Nationalelectronic-moneysystemwouldoperateasadebit-cardsystem.Each

individuaFs“m

oney“wouldbeheldinhismoney-systemaccount.Atransactionwouldeffectan

instanttra

nsferofmoneyfromhisaccounttothatofanotheraccountholder.Onlycashwouldbe

suppla

ntedbyelectronicmoney.Theuseofchecks,drafts,moneyorders,traveler'schecks,

cashi

er'schecks,aswellasletterofcredit,acceptances,andotherfinancialinstrumentswool

dremaininregularuse.Creditcardandautomatic-teller-machinesystemwouldnot

necessari

lychange,althoughyoucouldnolongerobtaincashatATMs.

56.wewillliveinasocietywherenolongerexist.

A.moneyB.theftC.bank-cardsystemD.Cash

57.Infuture,moneywillbeintheformof.

A.cashB.notesandcoinsC.recordedelectronicfunds-transfersystemD.papergold

58.Whichofthefollowingstatementsisfalse?

A.Inacash-freesociety,bankrobberiesandcashregisterrobberieswouldnotoccur.

B.Retailshopscouldoperateinsafety.

C.Automatic-teller-machinesystemwouldhavetochange.

D.Pursesnatchingwouldsimplybecomepossible.59.Accordingtothepassage,in

future,neighborhoodswouldimprovebecause.

A.cashwouldbelongerinuse.B.therewouldbemoresafetyguards

C.moreprisonswouldbesetup.D.Peoplewouldbebetteroff

60.make(s)itpossibletodivorcemoneyfromevil.

A.LettersofcreditB.Electronicfunds-transfertechnology

C.CreditcardsD.Traveler'schecks

PassageTwo

Documentagainstacceptance(D/A)isexactlylikedocumentagainstpayment(D/P)

exceptthat,

insteadofsigningthesightdraftandpayingonpresentationofdocumentstoreceive

theb

ill(s)oflading,theimporteracceptstheusance(time)draftthatcreatesanobligationsi

milartoapromissorynotecalledatradeacceptance.Thiscanbeusedforfinance

purposes

undersomeconditions.Thisisapromisetopayinacertainnumberofdays,after

accepting

thedocuments,usuallyforatermofbetween30and180days.D/Atermsaremore

securetha

nopenaccountbecausethetransactionandreceiptofgoodsareevidencedbya

negotiablein

strument.Itismucheasiertoenforceafinancialinstrumentthatanaccountreceivable.

Wh

ichmustbeproventothecourts.However,asharpincreaseinriskoverD/Aoccurs

because

theimporternowhasthegoods,andtheexporteronlyhasapromisetopay.Thebank

hasno

responsibilitytocollectthefundsonoraftertheduedate.Bothyourbankandthe

foreign

bankarepurelyconduits,oragentsfortransmittalandcollection.Itisveryimportant

no

ttoconfuseabanker,sacceptance,whichcarriesthecreditofabank,withatradeaccept

ancementionedhere.Thelatterisnonbetterthanthecreditandintegrityofthebuyeras

opposedtothebank.

61.IfD/Atermsareusedtosettleinternationaltransactions,then.

A.thesellermustpayonpresentationofdocuments

B.asightdraftisusuallyused

C.theimportercangetthebill(s)ofladingonlyafterheacceptsthetimedraft

D.apromissorynoteiscreated

62.Inthepassage,thesentence“thiscanbeusedforfinancepurposedundersome

conditio

ns“meansthat.

A.thebuyergivescreditstotheseller

B.thebuyercangetthegoodsandevensellitbeforehehastopay

C.thebuyerpromisetopayin30days

D.anobligationiscreated

63.Totheseller,whichofthefollowingisdisadvantageofD/A?

A.Itismuchmoresecureincomparisonwithopenaccount.

B.Itismuchmoreenforceablethananaccountreceivable.

C.Thesellerhastoincurmuchhigherriskofdishonorofthebills.

D.Thecollectingbankisresponsibleforthepaymentintheeventofthedishonorof

thegbills.

64.Themostimportantdifferencebetweenabanker'sacceptanceandatrade

acceptanceisthat.

A.theacceptancesaremadebydifferentagentsB.creditsaregivenbydifferentagents

C.thebanker'sacceptanceisinferiortoatradeacceptance

D.thebanker,sacceptancedependsonthebank'scredit,whilethelatterdependsonthe

creditofthebuyer.

65.Theword“conduits”inthepassagemeans.

A.thebanksassumenoresponsibilityifthebuyersfailtomeettheirpaymentobligation

sp

ecifiedinthecommercialcontract

B.thebanksassumenoresponsibilityforconsequencesarisingfromanycausesbeyond

theircontrol

C.Justactingasagents,thebankstransmitdocumentsandcollectmoneyinaccordance

with

thedirectionsgivenbytheprincipal

D.Alloftheabove

PassageThree

Providingforapaymentmechanismorthetransferoffundsisoneoftheimportant

functions

performedbycommercialbanksanditisincreasinginimportanceasgreaterrelianceis

pla

cingontheuseofchecksandcreditcards.Theincreasingefficiencywithwhichfunds

arem

anagedisindicatedbythegradualdeclineinmoneyholdingsrelativetothegross

national

productovertheyears,despiteanincreaseinthenumberoffinancialtransactions.In

rece

ntyearstheonlykindofmoneythathasincreasedrelativetonationaliscoin,primarily

b

ecauseofthegrowthofmeteringandvendingmachines.Aswecansee,atpresentcheck

depos

itsareassumingalargerportionofthetransactionload,andtheyarebeingusedmore

effi

ciently.

Mostofthechecksinthenationareclearedthroughthecommercialbankingsystem.

Checksd

rawnonanddepositedinthesamebankmerelytransferfundsfromonecounterto

another.If

onlytwobanksareinvolvedinthesametown,thereisadirectexchangeofchecks.

Whense

veralbanksareinvolvedwithinthesamecity,aclearinghousearrangementisusually

emplo

yed.Theprocessbecomesabitmorecomplicatedandtime-consuming.

Bankshaveemployedcomputersandothersophisticatedequipmenttospeedthe

clearingproces

s,reducecosts,andimproveaccuracy.Inrecentyearsconsiderablethoughtandresearch

hav

ebeengiventowhathasbecomeknownaschecklessbanking.Thiswouldactivate

computersin

banksthroughoutthenationandthustransferfundsfromthepurchaser'saccounttothe

se

Iler'saccount.TheATMcanbeusedtowithdrawcashfromadepositor'saccount,make

depo

sitsandloanrepayments,andtransferfundsbetweenadepositor'ssavingsandchecking

acc

ounts.

66.Althoughbankingtransactionloadiseverheavier,.

A.thereislessmoneyamongthepeople

B.morefundsaremanagedincommercialbanks

C.moneymanagementshowshigherefficiency

D.thereisagradualdeclineoffundsingrossnationalproduct

67.Inthewriter'sviewwhatisbeingusedmoreefficiently?

A.MoneyholdingsB.CheckdepositsC.CoinsD.Meteringandvendingmachines

68.Howistheclearingofchecksinvolvedintwobanksinthesamecity?

A.throughtheclearinghouseB.bytransferoffundsfromoneaccounttoanother

C.throughacorrespondentbankD.bydirectexchangeofchecks

69.Accordingtothepassage,caneliminatebankchecksandthesubsequentwork.

A.creditcardsB.somesophisticatedequipmentC.computersD.adeviceofelectronic

transferoffunds

70.Thecentralideaofthispassageis.

A.electronictransferoffundsB.bank'spaymentmechanismC.clearingofchecksD.

computerandpayment

PartFive(10points)

Directions:Therearetenblanksinthispart.Ineachblank,youshouldputoneofthe

wo

rdsgivenbelowinitsproperform.WriteyouranswerontheANSWERSHEET.

writedrawsupervisedistinguishactlendmakeofferreferrepay

Banking71tothebusinessoftakingdepositsandmakingloans.Asfinancial

intermediaries,

banksmayalso72awholerangeofotherfinancialservices,suchasinsurance,credit

card

sandforeignexchange,buttheir73characteristicistheirroleinthemoneysupply

throug

hthecreationofdeposits.Whenabank74aloanitincursabookdebttoacustomerin

ret

urnforapromiseto75it.Theabilityofabanktocreatemoneyinthiswayislimitedin

mostcountriesbygovernmentcontrolon76aswellasbyitsobligationtopayout

current

accountdepositincashondemand.Sincethebank'scustomersmeetmostoftheir

needsform

oneyby77chequesontheirdeposits,thecashholdingsthebanksneedareonlyasmall

frac

tionoftheirtotaldeposits.Thesettlementofdebtsarisingbetweenbanksthrough

cheques

78ononebankanddepositedinanotherismadethroughaclearinghouse.Banksare79

andr

egulatedinmostcountriesbythecentralbank,which80aslenderoflastresort.

PartSix(5points)

Directions:DescribetheproceduresofD/Patsightaccordingtothenumbergiveninthe

cha

rter.WriteyouranswerontheANSWERSHEET.SteponeandStepsevenhavebeen

provided.

6

CollectingBankRemittingBank

354271

Buyer(drawee)Seller(beneficiary)

PartSeven(15points)

Directions:Writealetteraccordingtothefollowingrequest.Writeyouransweronthe

ANSW

ERSHEET.

以甲銀行名義，用正式信函格式寫一封英文信給乙銀行，內(nèi)容如下：

關(guān)于你行5月5日電傳所述沒有收到我行5月3日要求償付的電傳，實際上我行

已收到你行對該電傳的答

復(fù)。這意味著該電傳已成功地送達你方。請核查并立即辦理付款，追付起息日至

付款日5月7日。否則，

我行保留要求遲期付款的利息的權(quán)利。

LISTENING(20Points)

1-20.(omission)

21.D

BCDD,CABAC3l.DBABC,DDCBD4l.ACAAA,BACAA5l.BDABC,DCABB61.CCD

DD,DDBDA.

Section3

BankofChina

BeijingBranch

May20,1998

BankA

NewYork

U.S.A.

Dearsirs,

ConcerningthatyourrespectedbankhavenotreceivedyourfaxreferredtoMay3

requested

reimbursementtelexonMay5,infactIwillhavetoreceiveyourreplytothetelex.This

means

thatthefaxhasbeensuccessfullyservedyourside.Requestsforpaymentverification

and

immediatelygotopayinterestfromthedateofpaymentMay7.Otherwise,Iwill

requesttoretain

thelatepaymentinterest.

Yoursfaithfully,

LangYong

Manager

BankofChina

FECT初級2000年考題及答案

ReadingPartTwo

SectionOne(10%)

Direction：Therearetenstatementsinthissection.Foreachstatementtherearefour

choic

esmarkedA,B,C,andD.Yo