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对外经济贸易大学

2004年攻读硕士学位研究生入学考试

金融学院金融学专业基础试题 科目代码：421

所有答题（包括英语的判断题和选择题）均做在答卷纸上，并在每题答案前标明各级题号。答在本试题卷上无效。本试题卷共5页。

一、True-False Questions (1×15=15 points. Please write “T ” for true statements or “F ” for false statements following every question number on your answer sheet)

1. An American tourist visiting Germany and spending money there (for lodging, food, etc.) will reduce the U.S. current account deficit and reduce Germany’s current account balance.

2. A weakening of the U.S. dollar with respect to the British pound would likely reduce the U.S. exports to Britain and increase U.S. imports from Britain.

3. Among the agencies providing loans to foreign governments are the International Monetary Fund, the World Bank, and the International financial Corporation.

4. According to the “J curve effect”, a weakening of the U.S. dollar relative to its trading partners’ currencies would result in an initial increase in the current account balance. followed by a subsequent decrease in the current account balance.

5. A bank will buy a foreign currency at the ask quote and will sell a foreign currency at the did quote.

6. U.S. dollar deposits placed in banks located in Europe and other continents are known as eurodollars.

7. If the forward rate were the same as the spot rate, and interest rates of the two countries differed, it would be possible for astute investors to engage in arbitrage to earn virtually riskless profits.

8. A cross exchange rate between two foreign currencies can easily be obtained with the two currencies’ exchange rates relative to the dollar.

9. If the British government desires an appreciation in its currency with respect to the U.S. dollar, it would consider intervening in the foreign exchange market by buying dollars with pounds.

10. If the current spot rate exceeds the exercise price of a put option, that option is classified as being out of the money.

11. A European option can only be exercised at maturity, while an American option can be exercised any time prior to maturity.

12. A corporation wishing to hedge payables using options would likely purchase call options: a corporation wishing to hedge receivables would likely purchase put options.

13. An advantage of a fixed exchange rate system is that governments are not required to constantly intervene in the foreign exchange market to maintain exchange rates within specified boundaries.

14. The absolute form of Purchasing Power Parity (PPP) states that the rate of change in the prices of products should be similar when measured in a common currency.

15. Since the balance of payments simply reflects the result of international accounting, all transactions are measured using double-entry bookkeeping.

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