FECT-Exercises-1（1）(1)

　　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. arepletely independent

　　c. do not have precisely the same pattern of returns

　　d. have a correlation coefficient greater than one wd*9m}?\ [ 外语园地金融英语 ] wd*9m}?\

　　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