(版)第二章金融体系预览(英文习题及)

Chapter2OverviewoftheFinancialSystem2.1SingleChoiceEveryfinancialmarketperformsthefollowingfunction:A)Itdeterminesthelevelofinterestrates.B)Itallowscommonstocktobetraded.C)Itallowsloanstobemade.D)Itchannelsfundsfromlenders-saverstoborrowers-spenders.Financialmarketshavethebasicfunctionofbringingtogetherpeoplewithfundstolendandpeoplewhowanttoborrowfunds.assuringthattheswingsinthebusinesscyclearelesspronounced.assuringthatgovernmentsneedneverresorttoprintingmoney.bothAandBoftheabove.bothBandCoftheabove.Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporation'sstockistradedinanover-the-countermarket.B)Peoplebuysharesinamutualfund.C)Apensionfundmanagerbuyscommercialpaperinthesecondarymarket.D)Aninsurancecompanybuyssharesofcommonstockintheover-the-countermarkets.E)Noneoftheabove.Whichofthefollowingcanbedescribedasinvolvingdirectfinance?Acorporation'sstockistradedinanover-the-countermarket.Acorporationbuyscommercialpaperissuedbyanothercorporation.Apensionfundmanagerbuyscommercialpaperfromtheissuingcorporation.BothAandBoftheabove.BothBandCoftheabove.Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Acorporationtakesoutloansfromabank.B)Peoplebuysharesinamutualfund.C)Acorporationbuyscommercialpaperinasecondarymarket.D)Alloftheabove.E)OnlyAandBoftheabove.Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)AbankbuysaU.S.Treasurybillfromoneofitsdepositors.Acorporationbuyscommercialpaperissuedbyanothercorporation.Apensionfundmanagerbuyscommercialpaperintheprimarymarket.BothAandCoftheabove.7)Financialmarketsimproveeconomicwelfarebecausetheyallowfundstomovefromthosewithoutproductiveinvestmentopportunitiestothosewhohavesuchopportunities.theyallowconsumerstotimetheirpurchasesbetter.theyweedoutinefficientfirms.theydoalloftheabove.theydoAandBoftheabove.AcountrywhosefinancialmarketsfunctionpoorlyislikelytoA)efficientlyallocateitscapitalresources.B)enjoyhighproductivity.C)experienceeconomichardshipandfinancialcrises.D)increaseitsstandardofliving.Whichofthefollowingaresecurities?AcertificateofdepositAshareofTexacocommonstockATreasurybillAlloftheaboveOnlyAandBoftheaboveWhichofthefollowingstatementsaboutthecharacteristicsofdebtandequityaretrue?A)Theybothcanbelong-termfinancialinstruments.Theybothinvolveaclaimontheissuer'sincome.Theybothenableacorporationtoraisefunds.Alloftheabove.OnlyAandBoftheabove.Themoneymarketisthemarketinwhich_________aretraded.A)newissuesofsecuritiesB)previouslyissuedsecuritiesC)short-termdebtinstrumentsD)long-termdebtandequityinstrumentsLong-termdebtandequityinstrumentsaretradedinthe_________market.A)primaryB)secondaryC)capitalD)moneyWhichofthefollowingareprimarymarkets?TheNewYorkStockExchangeTheU.S.governmentbondmarketTheover-the-counterstockmarketTheoptionsmarketsNoneoftheaboveWhichofthefollowingaresecondarymarkets?A)TheNewYorkStockExchangeB)TheU.S.governmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)AlloftheaboveAcorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheA)secondarymarketbyaninvestmentbank.B)primarymarketbyaninvestmentbank.secondarymarketbyastockexchangebroker.secondarymarketbyacommercialbank.IntermediarieswhoareagentsofinvestorsandmatchbuyerswithsellersofsecuritiesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.E)noneoftheabove.IntermediarieswholinkbuyersandsellersbybuyingandsellingsecuritiesatstatedpricesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.E)noneoftheabove.AnimportantfinancialinstitutionthatassistsintheinitialsaleofsecuritiesintheprimarymarketistheA)investmentbank.B)commercialbank.C)stockexchange.D)brokeragehouse.Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?Mostcommonstocksaretradedover-the-counter,althoughthelargestcorporationshavetheirsharestradedatorganizedstockexchangessuchastheNewYorkStockExchange.Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.Moneymarketsecuritiesareusuallymorewidelytradedthanlonger-termsecuritiesandsotendtobemoreliquid.Alloftheabovearetrue.OnlyAandBoftheabovearetrue.20)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?Abondisalong-termsecuritythatpromisestomakeperiodicpaymentscalleddividendstothefirm'sresidualclaimants.Adebtinstrumentisintermediatetermifitsmaturityislessthanoneyear.Adebtinstrumentislongtermifitsmaturityistenyearsorlonger.Thematurityofadebtinstrumentisthetime(term)thathaselapsedsinceitwasissued.21)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?A)Fewcommonstocksaretradedover-the-counter,althoughtheover-the-countermarketshavegrowninrecentyears.Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.Capitalmarketsecuritiesareusuallymorewidelytradedthanlongertermsecuritiesandsotendtobemoreliquid.Alloftheabovearetrue.OnlyAandBoftheabovearetrue.Whichofthefollowingmarketsissometimesorganizedasanover-the-countermarket?A)ThestockmarketB)ThebondmarketTheforeignexchangemarketThefederalfundsmarketalloftheaboveBondsthataresoldinaforeigncountryandaredenominatedinthatcountry'scurrencyareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.BondsthataresoldinaforeigncountryandaredenominatedinacurrencyotherthanthatofthecountryinwhichtheyaresoldareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.Financialintermediariesexistbecausetherearesubstantialinformationandtransactioncostsintheeconomy.improvethelotofthesmallsaver.areinvolvedintheprocessofindirectfinance.doalloftheabove.doonlyAandBoftheabove.Themainsourcesoffinancingforbusinesses,inorderofimportance,areA)financialintermediaries,issuingbonds,issuingstocks.B)issuingbonds,issuingstocks,financialintermediaries.C)issuingstocks,issuingbonds,financialintermediaries.D)issuingstocks,financialintermediaries,issuingbonds.Thepresenceoftransactioncostsinfinancialmarketsexplains,inpart,whyfinancialintermediariesandindirectfinanceplaysuchanimportantroleinfinancialmarkets.equityandbondfinancingplaysuchanimportantroleinfinancialmarkets.corporationsgetmorefundsthroughequityfinancingthantheygetfromfinancialintermediaries.directfinancingismoreimportantthanindirectfinancingasasourceoffunds.28)FinancialintermediariescansubstantiallyreducetransactioncostsperdollaroftransactionsbecausetheirlargesizeallowsthemtotakeadvantageofA)poorlyinformedconsumers.B)standardization.C)economiesofscale.D)theirmarketpower.29)Thepurposeofdiversificationistoreducethevolatilityofaportfolio'sreturn.raisethevolatilityofaportfolio'sreturn.reducetheaveragereturnonaportfolio.raisetheaveragereturnonaportfolio.Aninvestorwhoputsallherfundsintooneasset_________herportfolio's_________.A)increases;diversificationB)decreases;diversificationC)increases;averagereturnD)decreases;averagereturnThroughrisk-sharingactivities,afinancialintermediary_________itsownriskand_________therisksofitscustomers.A)reduces;increasesB)increases;reducesreduces;reducesincreases;increases32)Thepresenceof_________infinancialmarketsleadstoadverseselectionandmoralhazardproblemsthatinterferewiththeefficientfunctioningoffinancialmarkets.noncollateralizedriskfree-ridingasymmetricinformationcostlystateverificationWhenthelenderandtheborrowerhavedifferentamountsofinformationregardingatransaction,_________issaidtoexist.A)asymmetricinformationB)adverseselectionC)moralhazardD)fraudWhenthepotentialborrowerswhoarethemostlikelytodefaultaretheonesmostactivelyseekingaloan,_________issaidtoexist.A)asymmetricinformationB)adverseselectionC)moralhazardD)fraudWhentheborrowerengagesinactivitiesthatmakeitlesslikelythattheloanwillberepaid,_________issaidtoexist.A)asymmetricinformationadverseselectionmoralhazardfraud36)Theconceptofadverseselectionhelpstoexplainwhichfirmsaremorelikelytoobtainfundsfrombanksandotherfinancialintermediaries,ratherthanfromthesecuritiesmarkets.whyindirectfinanceismoreimportantthandirectfinanceasasourceofbusinessfinance.whydirectfinanceismoreimportantthanindirectfinanceasasourceofbusinessfinance.onlyAandBoftheabove.onlyAandCoftheabove.37)Adverseselectionisaproblemassociatedwithequityanddebtcontractsarisingfromthelender'srelativelackofinformationabouttheborrower'spotentialreturnsandrisksofhisinvestmentactivities.B)thelender'sinabilitytolegallyrequiresufficientcollateraltocovera100percentlossiftheborrowerdefaults.theborrower'slackofincentivetoseekaloanforhighlyriskyinvestments.noneoftheabove.38)Whentheleastdesirablecreditrisksaretheonesmostlikelytoseekloans,lendersaresubjecttothemoralhazardproblem.adverseselectionproblem.shirkingproblem.free-riderproblem.principal-agentproblem.39)Financialinstitutionsexpectthatmoralhazardwilloccur,astheleastdesirablecreditriskswillbetheonesmostlikelytoseekoutloans.opportunisticbehaviorwilloccur,astheleastdesirablecreditriskswillbetheonesmostlikelytoseekoutloans.borrowerswillcommitmoralhazardbytakingontoomuchrisk,andthisiswhatdrivesfinancialinstitutionstotakestepstolimitmoralhazard.D)noneoftheabovewilloccur.Successfulfinancialintermediarieshavehigherearningsontheirinvestmentsbecausetheyarebetterequippedthanindividualstoscreenoutgoodfrombadrisks,therebyreducinglossesduetoA)moralhazard.B)adverseselection.C)badluck.D)financialpanics.Infinancialmarkets,lenderstypicallyhaveinferiorinformationaboutpotentialreturnsandrisksassociatedwithanyinvestmentproject.ThisdifferenceininformationiscalledA)comparativeinformationaldisadvantage.B)asymmetricinformation.C)variantinformation.D)caveatvenditor.Thelargestdepositoryinstitutionattheendof2004waslifeinsurancecompanies.pensionfunds.stateretirementfunds.noneoftheabove.Whichofthefollowingfinancialintermediariesaredepositoryinstitutions?A)AsavingsandloanassociationB)AcommercialbankC)AcreditunionAlloftheaboveOnlyAandCoftheabove44)Whichofthefollowingisacontractualsavingsinstitution?AlifeinsurancecompanyAcreditunionAsavingsandloanassociationAmutualfundWhichofthefollowingarenotinvestmentintermediaries?A)AlifeinsurancecompanyB)ApensionfundC)AmutualfundD)OnlyAandBoftheaboveWhichofthefollowingareinvestmentintermediaries?FinancecompaniesMutualfundsPensionfundsAlloftheaboveOnlyAandBoftheabove47)Thegovernmentregulatesfinancialmarketsforthreemainreasons:toensuresoundnessofthefinancialsystem,toimprovecontrolofmonetarypolicy,andtoincreasetheinformationavailabletoinvestors.toimprovecontrolofmonetarypolicy,toensurethatfinancialintermediariesearnanormalrateofreturn,andtoincreasetheinformationavailabletoinvestors.toensurethatfinancialintermediariesdonotearnmorethanthenormalrateofreturn,toensuresoundnessofthefinancialsystem,andtoimprovecontrolofmonetarypolicy.toensuresoundnessoffinancialintermediaries,toincreasetheinformationavailabletoinvestors,andtopreventfinancialintermediariesfromearninglessthanthenormalrateofreturn.Whichofthefollowinggovernmentregulationshasthechiefpurposeofimprovingcontrolofthemoneysupply?A)depositinsuranceB)restrictionsonentryintobankingorinsuranceC)reserverequirementsD)restrictionsontheassetsfinancialintermediariescanholdAsymmetricinformationcanleadtowidespreadcollapseoffinancialintermediaries,referredtoasaA)bankholiday.B)financialpanic.C)financialdisintermediation.D)financialcollapse.ForeigncurrenciesthataredepositedinbanksoutsidethehomecountryareknownasA)foreignbonds.Eurobond.Eurocurrencies.Eurodollars.U.S.dollarsdepositedinforeignbanksoutsidetheUnitedStatesorinforeignbranchesofU.S.arereferredtoasA)Eurodollars.B)Eurocurrencies.C)Eurobonds.D)foreignbonds.Banksprovidingdepositorswithcheckingaccountsthatenablethemtopaytheirbillseasilyisknownasliquidityservices.assettransformation.risksharing.transactioncosts.A________iswhenonepartyinafinancialcontracthasincentivestoactinitsowninterestratherthanintheinterestsoftheotherparty.A)moralhazardB)riskC)conflictofinterestD)financialpanicFireandcasualtyinsurancecompaniesarewhattypeofintermediary?ContractualsavingsinstitutionDepositoryinstitutionsInvestmentintermediariesNoneoftheaboveThecountrywhosebanksarethemostrestrictedintherangeofassetstheymayholdisA)Japan.B)Canada.C)Germany.D)theUnitedStates. 答案 八年级地理上册填图题岩土工程勘察试题省略号的作用及举例应急救援安全知识车间5s试题及答案 ：1-5：DAEBE6-10:DECDD11-15:CCEEB16-20:CDADC21-25:BEABD26-30:AACAB31-35:BCABC36-40:DABCB41-45:BDDAD46-50:EACBC51-55:AACAD