Ⅰ. Translate the following words and expressions from English into Chinese (10%)
1. income distribution of a market
2. set forth
3. clean credit
4. equity investment
5. akin to
6. endowment of nature
7. all risks
8. non-trade settlement
9. standing committee
10. comparative advantage
Ⅱ. Translate the following words and expressions from Chinese into English(10%)
Ⅲ. Match the words and expressions on the left with the explanations on the right(10%)
21. productive a. one in which one of the parties agrees to supply, at the contract price, a complete product ready for use, such as a new home, factory, ship, etc.
22. primary commodities b. absence of agreement
23. hyperinflation c. to substitute a claim against one person for a claim against another person
24. discrepancy d. a person who owns money
25. practitioner e. producing in high efficiency or in large quantity
26. turnkey project f. those commodities not processed, or only slightly processed, usually farm produce or raw materials
27. constitute g. money held aside to meet future demand
28. subrogate h. make up; amount to; form
29. reserve i. a person engaged in the practice of a profession or occupation
30. debtor j. soaring of prices beyond control
21.______ 22. ______23. ______24. ______25. ______
26. ______27. ______28. ______29. ______30. ______
Ⅳ. Make brief explanations of the following terms or give the full name of the abbreviation in English (10%)
32. confirmed credit
33. dirty float
34. international licensing
Ⅴ. Answer the following questions in English(20%)
36. Why is it necessary to change the term “marine insurance” into “transportation insurance”?
37. What institutions does the World Bank Group consist of?
38. Why does the exporter sometimes require a confirmed letter of credit?
39. What are the two wheels of APEC?
Ⅵ. Translate the following into Chinese (15%)
40. It should be noted, however, that the existence of a letter of credit is not a guarantee of payment to anyone. Its existence only assures payment to the beneficiary if the terms and conditions of the letter of credit are fulfilled. In addition, a letter of credit does not insure that the materials purchased will be those invoiced or shipped.
41. The IFC was established in 1956. Its function is to assist the economic development of less-developed countries by promoting growth in the private sector of their economies and helping to mobilize domestic and foreign capital for this purpose. Membership in the IBRD is a prerequisite for membership in the IFC.
Ⅶ. Translate the following into English(25%)