国际内部审计师(CIA考试)
The author doesn't mention those participants ______ in the London International Financial Futures Exchange( LIFFE ).A．who want to hedge against interest rate fluctuationsB．who wish to hedge against exchange rate fluctuationsC．who bet on which way interes
题目
The author doesn't mention those participants ______ in the London International Financial Futures Exchange( LIFFE ).
A．who want to hedge against interest rate fluctuations
B．who wish to hedge against exchange rate fluctuations
C．who bet on which way interest rate will move
D．both A and B
相似问题和答案
第1题：
Arbitrageurs in the futures markets are those people who ______.
A．take on the risks that hedgers want to shed
B．seek to hedge their risks
C．make the futures prices move in accordance with other markets
D．all of the above
解析：文章第一段提到while the arbitrageurs, ...at the right price. 套利者进入期货市场可以确保期货市场的价格和其他市场保持一致，从而使保值者和投机者以合理的价格进行交易。
第2题：
短文理解
听力原文： The Chinese currency is the Renminbi. China has maintained a unified managed floating exchange rate since January 1994. The exchange rate of the Renminbi is determined by the inter-bank foreign exchange market. The People' s Bank of China announces a reference rate for the Renminbi against the US dollar, the Hong Kong dollar, and the Japanese yen based on the weighted average price of foreign exchange transactions during the previous day's trading. Daily movement of the exchange rate of the Renminbi against the US dollar in inter-bank foreign exchange market is limited to 0.3% on either side of the reference rate as announced by the PBC. The buying and selling rates of the Renminbi against the Hong Kong dollar and the Japanese yen may not deviate more than 1% on either side of the reference rate. In the case of other currencies, the deviation may not exceed 0.5% on either side of their respective rates.
21. When did China begin to maintain a unified managed floating exchange rate?
22.Who determines the exchange rate of the Renminbi?
23.What is the deviation allowed on daily movement of the exchange rate of Renminbi against the US dollar?
(21)
A．1992
B．1993
C．1994
D．1995
解析：录音原文提到China has maintained a unified managed floating exchange rate since January 1994，中国从1994年1月开始实行单一的有管理的浮动汇率制。
第3题：
Foreign exchange markets are electronic communication systems that (56) major financial centers throughout the world. Exchange rates are determined (57) supply and demand relationships, relative interest rate levels, relative (58) of inflation, political risk, and economic risk. Alternatives (59) affecting settlement of purchase and sales claims were explored (60) with the instruments available to exporters and importers for financing their international activities.
(41)
A．focus
B．liaison
C．connect
D．associate
解析：focus定焦点，调焦，集中。liaison联络。connect连接，联合。associate使发生联系，使联合。
第4题：
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
解析：外汇通常指以外国货币表示的可用于国际结算的各种支付手段，包括纸币、支票、票据等。the rate of exchange between two currencies两国货币的汇率。synonymous with currency exchange与货币兑换率含义相同。
第5题：
A、What’s the exchange rate today
B、What kind of currency do you want to exchange for
C、What’s the amount you’d like to exchange
第6题：
The best title for the passage can he ______.
A．What Are Futures Used for
B．Who Are the Arbitrageurs, Speculators and Hedgers
C．How to Hedge Risks
D．How to Trade in Futures Market
解析：文章最适当的题目应选A项。
第7题：
In London, a premium on a foreign exchange rate means ______.
A．the foreign currency is dearer
B．the foreign currency is cheaper
C．the foreign currency is less valuable
D．it has no relevance at all
解析：外汇升水(premium)意味着外汇更贵，外币升值。discount贴水。foreign exchange rate汇率。foreign currency外币。
第8题：
A derivative is a security which "derives" its value from another underlying (61) instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as (62) contracts and various indexes. Derivatives give the buyer greater leverage for a (63) cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a (64) of securities against losses. However, because derivatives have a date of (65) , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time.
(46)
A．bank
B．financial
C．mathematic
D．securities
第9题：
______ are bonds which carry a rate of interest and give the owner the right to exchange the bonds at some stage in the future into ordinary shares according to a prearranged formula.
A．Treasury bonds
B．Corporate bonds
C．Convertible bonds
D．Revenue bonds
解析：句意：可转换债券(convertible bond)允许投资者按照事先规定的条件将附息债券转化为普通股。treasury bond长期国债。corporate bond公司债券。revenue bonds收益债券，指由地方政府及其所属机构所发行的、不以地方政府的征税能力作保证，而只以所筹建项目本身的收益来偿还的一种市政债券。
第10题：
听力原文：A currency swap is a second technique for hedging long-term transaction exposure to exchange rate fluctuations.
(10)
A．A currency swap is a better way to convert the long-term transaction into a spot transaction.
B．A currency swap makes long-term transaction exposure to exchange rate fluctuations.
C．A currency swap is a better way to reduce the risks of the long-term transactions owing to the exchange rate fluctuations.
D．A currency swap can in no way reduce the risk of exchange rate fluctuations.
解析：单句意思为“外汇浮动对远期交易有一定影响外汇互换可以降低这一风险。”