2012年中信银行总行招聘考试笔试试卷完整真题及答案解析.doc

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2012年中信银行总行招聘考试笔试试卷完整真题及答案解析

第一部分英语能力测试

第二部分专业知识测试

第三部分写作能力测试

2012 年中信银行总行招聘考试笔试试卷完整真题及答案解析第一部分英语能力测试一、单项选择 1. Which of the following is not a function of money? ______. A. To act as a medium of exchange B. To act as a unit of account C. To act as a store of value D. To provide a double coincidence of wants E. To act as a means of payment 2. The price in the foreign exchange market is called ______. A. the trade surplus B. the exchange rate C. the money price D. the currency rate 3. Market risk refers to the risk of______. A. financial prices fluctuations B. default C. fraud D. deferred payments 4. Which of the following is not among the generally accepted accounting principles? ______. A. Cash basis B. Prudence C. Consistency D. Going concern E. Money measurement. 5. What is a documentary letter of credit? ______. A. A conditional bank undertaking to pay an exporter on production of stipulated documentation B. A method of lending against documentary security C. An international trade settlement system biased in favour of importers D. All of the above 6. Holding a group of assets reduces risk as long as the assets ______. A. are perfectly correlated B. are completely independent C. do not have precisely the same pattern of returns D. have a correlation coefficient greater than one 7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an . A. liability B. debt C. equity

D. asset 8. What function is money serving when you buy a ticket to a movie? ______. A. store of value B. a medium of exchange C. transaction demand D. a unit of account 9. If foreigners expect that the future price of sterling will be lower, the ______. A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase C. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise D. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall 10. The documentary collection provides the seller with a greater degree of protection than shipping on ______. A. open account B. bank's letter of guarantee C. banker's draft D. documentary credit 11. Which of the following statements is not true of central banks? ______. A. They pay the government's salaries B. They always undertake the regulation of the banking system C. They are always the lender of last resort D. None of the above 12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______. A. appreciates by 12.70% B. depreciates by 14.55% C. depreciates by 12.70% D. appreciates by 14.55% 13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______. A. If X and Y are totally independent with each other, the risk of the portfolio is reduced B. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased 14. These are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection, that is document against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view, the order of preference is ______. A. (4) , (2) , (3) , (1)

B. (4) , (1) , (3) , (2) C. (4) , (3) , (1) , (2) D. (2) , (4) , (1) , (3) 15. The main liability on a bank balance sheet is ______. A. deposits B. capital and reserves C. loans and overdrafts D. cash 16. ______ shows that net income for a specified period of time and how it was calculated. A. The income statement B. The capital statement C. The accounting statement D. The statement of financial condition 17. Why must the liabilities and assets of a bank be actively managed? ______. A. Because assets and liabilities are not evenly matched on the same time scale B. Because assets and liabilities are evenly matched C. Because the interbank market uses LIBOR D. Because assets and liabilities can be underwritten 18. If the expected returns of two risky assets have a perfect negative correlation, then risk . A. is increased B. falls to zero C. is unaffected D. is reduced by one-half 19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that . A. some nations would experience continual deficits B. the exchange rates may experience wide and frequent fluctuations C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment D. nations would need a larger supply of international reserves than otherwise 20. What are your GBP/USD position and the average rate if you sell £4m at 1.6350 buy £5m at 1.6340 and sell $5m at 1.6348? A. Short £2 058 478.10 long $3 370 000 at 1.6371 B. Long £5 941 521.90 short $9710 000 at 1.6342 C. Short £5 941 521.90 long $9 710 000 at 1.6342 D. Long £4 058 478.10 short $6 630 000 at 1.6336 21. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract? ______. A. Import of goods priced in a foreign currency B. Import of goods priced in RMB C. Export of goods priced in RMB D. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract

22. Incoterms address ______. A. the risks of loss between the parties B. breaches of contract C. ownership rights D. type of ship used 23. Which of the following is or was an example of representative full-bodied money? ______. A. Debt money B. ATS account C. Gold certificate D. Demand deposit 24. Risks associated with investing in foreign countries are the following except ______. A. voting risk B. exchange rate risk C. country risk D. political risk 25. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each? ______. A. Exporter; Exporter B. Exporter; Importer C. Importer; Importer D. Importer; Exporter 26. Default risk refers to the possibility that a borrower may ______. A. be unable to repay the principal on his loan B. be unable to make the interest payments on his loan C. go bankrupt D. all of the above 27. What is the reserve requirement? ______. A. The requirement of a bank to deposit a percentage of money B. The requirement for deposits in cash C. The percentage of a bank's deposits in the form of cash reserves D. The requirement for cash reserves 28. A draft is like a check that can be endorsed but it isn't a title to goods, like ______. A. a bill of lading B. an inspection certificate C. a certificate of origin D. an insurance certificate 29. Arbitrage ______. A. is a general economic term for buying something where it is cheap and selling it where it is dear B. keeps exchange rates consistent across markets C. has been outlawed by the International Monetary Fund D. cannot occur where there is a forward exchange market E. both A and B 30. What is the purpose of comparing the ledger entries with the documents? ______. A. To prove that all the transactions have made for the right amounts

B. To prove that all the accounts have been posted correctly C. To check the number of all the debits and credits D. To post the right accounts 31. What is Dollar Cost Averaging? ______. A. A brokerage account that gives investors cheap trades B. The idea that prices tend to rise over the long term C. Buying stocks that are below average in value D. A flat quarterly mutual fund fee averaged throughout the year E. A strategy of investing money on a regular basis to take advantage of market fluctuations 32. From a Chinese bank's point of view, the currency account which it maintains abroad is known as______, while a RMB account operated in China for a foreign bank is termed ______. A. a vostro account... a nostro account B. a vostro account…a mirror account C. a mirror account…a nostro account D. a nostro account... a vostro account 33. Under FOB terms the bill of lading would state goods ______. A. loaded on board, freight payable at destination B. loaded on board, freight paid C. received for shipment, freight paid D. received for shipment, freight payable at destination 34. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses in its business. A. sources of the funds B. share capital C. investments D. advances to customers 35. International payments and other messages are often sent through an international computer network called ______. A. CHAPS B. BACS C. SWIFT D. EIMT 36. Low levels of uncertainty (risk) are associated with . A. stocks B. stock options C. higher potential returns D. lower potential returns 37. Government securities would appear on a commercial bank's balance sheet as ______. A. an asset B. reserves C. part of net worth D. a liability 38. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits,

______. A. there is no self-correcting mechanism B. currency values become unstable C. the value of the reserve currency declines D. world inflation increases 39. In a particular economy banks are required to keep 25 percent of all deposits in the form of reserves; this gives a credit-creation multiplier of ______. A. four B. three C. two D. five 40. Regulation of the money supply and financial markets is referred to as ______. A. fiscal policy B. income policy C. monetary policy D. budgetary policy 41. When a country runs a foreign trade deficit under a flexible foreign exchange rate system, its . A. imports automatically increase B. currency automatically depreciates C. exports automatically decline D. currency automatically appreciates 42. Which of the following statements is not true of accounting? ______. A. Accounting is language of business B. The user of accounting includes business, government, nonprofit organizations and individuals. C. Accounting is useful for decision making D. Accounting is an end rather than a means to an end 43. The term foreign exchange is best defined by the following statement: it is ______. A. the rate of exchange between two currencies B. synonymous with currency exchange C. the place in which foreign currencies are exchanged D. an instrument such as paper currency, note, and check used to make payments between countries 44. What is Asset Allocation? ______. A. Buying assets of different types, risks, and potential returns B. Buying assets with more than one brokerage account C. The ability to buy mutual funds D. Buying stocks for the long term 45. External users of financial accounting information include all of the following except . A. suppliers B. line managers C. general public D. creditors 46. CAPM is short for . A. Capital Asset Pricing Model

B. Cash Added Price Matrix C. Capital Asset Pricing Matrix D. Cost and Price Model 47. Liquidity measures the ______. A. value of an asset B. ease with which an asset can be exchanged C. usefulness of an asset D. economic and monetary reliability of an asset compared with other assets 48. In a letter of credit transaction, the bank pays the seller against ______ which agree(s) with______. A. documents... the credit B. merchandise... the contract C. documents... the contract D. merchandise...the buyer ordered 49. A barter economy is one that does not possess _______. A. any wealth B. printed currency C. a medium of exchange D. gold 50. Which of the following is not true of airway bill? ______. A. When goods are delivered to the airline, the airway bill is signed by them or their agents as a receipt of the goods B. Airway bill is a document of title to the goods C. Airway bill may also provide evidence of despatch of the goods where it has been stamped indicating details of the relevant flight D. None of the above 51. The value of money varies _____. A. directly with the unemployment rate B. directly with the price level C. inversely with the unemployment D. inversely with the price level 52. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______. A. the dollar has depreciated relative to the yen B. the dollar can now purchase more yen C. the yen can now purchase more dollars D. the US trade balance with the Japanese economy has improved 53. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______. A. price feedback theory B. trade feedback theory C. purchasing power parity theory D. J-curve theory 54. According to the optimal portfolio theory, where should portfolios lie? ______.

10% 24% 0.5 50% Normal Bull 02 0.3 05 A. On the efficient frontier B. Above the efficient frontier C. Under the efficient frontier D. Anywhere, as long as the portfolio is diversified 55. Which of the following is not a user of management accounting information? ______. A. Store manager B. Creditor C. CEO D. CFO 56. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______. Market Condition bear Probability Rate of return —25% A. 4% B. 10% C. 20% D. 25% Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent). Bear Market Probability Stock X_ Stock Y 57. Financial markets serve to channel funds from ______. A. the government to contractors B. investors to consumers C. consumers to producers D. savers to investors 58. The agreements that were reached at the Bretton Woods conference in 1944 established a system . A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations C. that prohibited governments from intervening in the foreign exchange markets D. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading 59. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? . A. Assets are originally recorded in accounting records at their cost to the business entity B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion C. Accountants assume that assets such as office supplies, land and buildings will be used in business Normal Market 0.2 0.3 Bull Market -20% 18% -15% 20% 10%

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2012年中信银行总行招聘考试笔试试卷完整真题及答案解析.doc

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