CMA-NewPart2-模拟考试05

北方苍凉月

第41题
In a managed floating exchange rate system
1、 the currency exchange rate is changed only when approved by the central bank administrators.
2、 the currency rate is supported by interventions by central banks in order to stabilize or alter rates.
3、 currency exchange rates are determined solely by market supply and demand.
4、 the currency rate is tied to a certain relationship to the price of gold.

第42题
A letter of credit is
1、 a bill that must be paid at a specified time in the future or upon completion of specified requirements by the exporter.
2、 a draft drawn to finance an export, with the bank promising to pay the draft at a specified future date to whomever holds the certificate.
3、 sent by a lender to an exporter on behalf of an importer stating that the bank will pay a draft with appropriate accompanying documentation.
4、 a written agreement where an importer agrees to sell product for an importer and remit proceeds of the sale when completed.

第43题
Garner Products is considering a new accounts payable and cash disbursement process which is projected to add 3 days to the disbursement schedule without having significant negative effects on supplier relations. Daily cash outflows average $1,500,000. Garner is in a short-term borrowing position for 8 months of the year and in an investment position for 4 months. On an annual basis, bank lending rates are expected to average 7% and marketable securities yields are expected to average 4%. What is the maximum annual expense that Garner could incur for this new process and still break even?
1、 $270,000
2、 $315,000
3、 $180,000
4、 $90,000

第44题
Dexter had a total sales of $250,000 in the first quarter of the year. If its accounts receivable (A/R) balance was $140,000 on January 1st and was $180,000 on March 31st, how much cash did it collect from its customers in the first quarter of the year?
1、 $250,000
2、 $210,000
3、 $40,000
4、 $290,000

第45题
Each month, a parts supplier sends a fabricator a monthly statement showing invoices for the period. Established credit terms are 5/10 net 30. Which of the following types of credit extension does this represent?
1、 Revolving credit
2、 Letter of credit agreement
3、 Installment credit
4、 Open account

第46题
What is the effective annual interest rate on a $3 million loan with an interest rate of 6%, a commitment fee of 0.5%, and a compensating balance of 7%?
1、 7.95%
2、 6.99%
3、 6.00%
4、 6.50%

第47题

Using the graph below, what was the price of the euro in U.S. dollars in July?
1、 $1.13
2、 $1.10
3、 $1.15
4、 $0.93

第48题
Which of the following is not a disadvantage of a flexible floating exchange rate system?
1、 Floating exchange rates facilitate international adjustments to negative economic developments.
2、 Floating exchange rates have not resolved balance of payments imbalances
3、 Floating exchange rates result in volatile exchange rates.
4、 Managed float lacks clear rules and guidelines to make the system viable in the long run.

第49题
Due to mismanagement of its domestic economic policies, country A is experiencing a drastic increase in inflation in relation to its neighbor country B, which happens to be its major trading partner. How will the increased inflation in country A affect the exchange rate between the two countries?
1、 Country A's currency will appreciate against country B's currency.
2、 Country A's currency will depreciate against country B's currency.
3、 There is insufficient information to determine the impact on the exchange rate.
4、 Country A's currency will not change against country B's currency.

第50题
The latest quarterly trade report indicates that the U.S. exported ￡360 billion to England and imported