Список вопросов базы знаний

Which of the two assertions are true and which are false?

A) Commodity markets are markets, where manufacturers can buy raw material such as wool, coffee, sugar, rubber, tea, copper and the other products of farms, plantations and mines around the world

B) It is a very important world centre for commodity trading of all kinds and because of London’s geographical position the London markets are open when the markets in both the United States and the Far East are open

Which of the two assertions are true and which are false?

A) Commodity markets are markets, where manufacturers can buy raw material such as wool, coffee, sugar, rubber, tea, copper and the other products of farms, plantations and mines around the world

B) It is an important invisible KGB agent, contributing about Ј300 million a year to the UK’s Balance of Payments

Which of the two assertions are true and which are false?

A) Companies sometimes also choose to capitalize part of their profit, i.e. turn it into capital, by issuing new shares to shareholders instead of paying dividends

B) Money can be regarded as a commodity and it is traded in the foreign exchange market

Which of the two assertions are true and which are false?

A) Companies wishing to raise more money for expansion can sometimes issue new shares, which are normally offered first to existing shareholders at less than their market price

B) This is known as a women’s rights issue

Which of the two assertions are true and which are false?

A) Credit cards can also be used as a cheque guarantee, mainly as identification

B) You can pay bills or draw cash up to Ј50 for any one transaction, but the limit is Ј30 in the Eurocheque system in banks in European countries

Which of the two assertions are true and which are false?

A) Direct credit means that your employer, or anyone else who wishes to pay you money, can pay the money to themselves instead

B) Cheques, postal orders and money orders (including International Money Orders) can be paid direct to your account also

Which of the two assertions are true and which are false?

A) Documents against acceptance (D/A). This means that the buyer or his bank will accept responsibility for payment of the sum on the Bill of Exchange, when the documents are surrendered

B) Documents against payment (D/P) means that payment must be made by the buyer or the buyer’s bank if they are against the payment, if they don’t want to pay.

Which of the two assertions are true and which are false?

A) Foreign currencies and other financial contracts can also be traded on the floor and walls of the London International Financial Futures Exchange

B) Commodities are bought and sold at a ‘spot’ price - for immediate delivery, or at a “forward” or ‘future’ price for delivery at a certain time in the future, in three thousand years’ time, for example

Which of the two assertions are true and which are false?

A) If a limited company goes bankrupt, it is wound up and its assets are liquidated (i.e. sold) to pay the debts of other companies

B) If the assets don’t cover the liabilities or the debts, they remain unpaid. The creditors simply do not get all their money back

Which of the two assertions are true and which are false?

A) If both banks have teleprinters, the transfer is called a telex transfer

B) In international transactions the Letter of Credit is the only document we need to study

Which of the two assertions are true and which are false?

A) If money is advanced by the bank to the exporter before his Bill of Exchange is due for payment, he must send the shipping documents to the bank and write a letter of hypothecation giving the bank the right to sell the goods if the Bill of Exchange is dishonoured

B) If the Bill of Exchange stays with the drawer’s bank until it is due for payment by the paying bank, it is ‘domiciled’ with the drawer’s bank

Which of the two assertions are true and which are false?

A) In most financial centres, there are also branches of lots of foreign banks, largely doing Eurocurrency business

B) A Eurocurrency is any currency of a European country

Which of the two assertions are true and which are false?

A) In some European countries (notably Germany, Austria and Switzerland) there have always been universal banks combining deposit and loan banking with share and bond dealing and investment services, as well as mountain skiing

B) Although a central bank can determine the minimum lending rate for its national currency it has no control over the foreign currencies

Which of the two assertions are true and which are false?

A) Individuals, and groups of people doing business as a partnership, have unlimited liability for debts, unless they form a limited company

B) If the business does badly and cannot pay its debts, any creditor can have it declared bankrupt and then the “cleaners” arrive and everyone goes to heavens

Which of the two assertions are true and which are false?

A) It is known as the Baltic Exchange because in the seventeenth century most of its business was with countries bordering the Baltic Sea

B) Business is carried out on the trading floor, where chartering agents, representing those who have cargoes, and brokers, representing those who have ships, make oral agreements

Which of the two assertions are true and which are false?

A) Many cheque guarantees and credit cards have the distinctive red and blue Eurocheque sign

B) The red and blue Eurocheque sign means that holders of the cards can use their cheque books with the credit card to draw cash from american banks located in “red” and “blue” states

Which of the two assertions are true and which are false?

A) Merchant and investment banks lend money to industry. British and American banks are now joining together in conglomerates

B) The interest rates that banks charge depend on the borrowers’ creditworthiness. European banks also do a lot of eurodollar, petrodollar and ekaterinodollar business

Which of the two assertions are true and which are false?

A) Merchant banks generally offer stockbroking and portfolio management services to rich corporate and individual clients

B) Investment banks in the USA are similar, but they can only offer hotdogs and cola at the times of financial crisis

Which of the two assertions are true and which are false?

A) Money can be regarded as a commodity and it is traded in the foreign exchange market

B) The growth area has been in container traffic run by shipping lines, and in bulk carriers, which are often chartered directly from pirates

Which of the two assertions are true and which are false?

A) Most companies begin as private limited companies

B) The owners of such companies have to put up the capital themselves, or borrow from friends or a bank, perhaps a bank specializing in venture capital

Which of the two assertions are true and which are false?

A) Nowadays, banks in the UK do not return your cheques with each statement, so it is advisable to keep a record of transactions on the counterfoil or stub

B) Crossed cheques are safe since they require crossing the street to the bank

Which of the two assertions are true and which are false?

A) Our country’s minimum interest rate is usually fixed by Sberbank

B) This is the discount rate, at which the central bank makes secured loans to commercial banks

Which of the two assertions are true and which are false?

A) Shareholders can sell their shares, wives and kids on the secondary market at any time

B) The market price of a share - the price quoted at any given time on the stock exchange, which reflects (more or less) how well or badly the company is doing – can not differ radically from its nominal value

Which of the two assertions are true and which are false?

A) The act of issuing shares (GB) or stocks (US) for the first time is known as floating a company director

B) Companies generally use an investment bank to underwrite the issue, i.e. to guarantee to purchase all the securities at an agreed price on a certain day, even if they can be sold to the public

Which of the two assertions are true and which are false?

A) The Baltic Exchange, situated in Yurmala, is an international shipping exchange, where traders, who have cargoes to ship can contact shipowners who have vessels to carry the cargoes, both parties operating through agents

B) Like several British financial institutions, the Baltic Exchange has its origin in the seventeenth-century coffee houses, where merchants would meet to drink coffee, read newspapers and transact business

Which of the two assertions are true and which are false?

A) The Bill of Exchange isn’t a ‘negotiable’ document

B) A document is negotiable, if ownership of the amount printed on it can be transferred to another person or company by delivery or endorsement (writing across the back) of the document

Which of the two assertions are true and which are false?

A) The buyer or his bank accepts the bill by writing a signature across it, and then either returning it to the drawer (or seller) or throwing it ith the garbage collector

B) The drawer can then hold it until it matures, or he can have it discounted by his bank

Which of the two assertions are true and which are false?

A) The cashcard is used with a 24 -hour cash dispensing service, with dispensers in many central sites, They can be used to obtain cash from the Kremlin at any time, day or night

B) A cheque can be either crossed or open

Which of the two assertions are true and which are false?

A) The distinction between commercial and investment banking has become clearer in recent years

B) Deregulation in the USA and Britain is leading to the creation of ‘financial supermarkets’: conglomerates combining the services previously offered by banks, stockbrokers, insurance companies, and so on with selling food, drinks and even toilet paper when needed

Which of the two assertions are true and which are false?

A) The drawer can have the Bill discounted at the rate of discount he makes

B) Suppose the Bill of Exchange is for Ј1,000, payable 90 d/s and dated 31st February. If the Bill is discounted at 5 % on the 2nd February, the drawer can receive Ј1,000 less the discount

Which of the two assertions are true and which are false?

A) The first significant Eurocurrency market was for US dollars in Europe, but the name is now used for foreign currencies held anywhere in the world (e.g. yen in the US, DM in Japan)

B) Since the US$ is the world’s most important trading currency - and because the US has for many years had a huge trade deficit - there is a market of many billions of Eurodollars, including the oil-exporting countries’ ‘petrodollars’

Which of the two assertions are true and which are false?

A) The growth area has been in container traffic run by shipping lines, and in bulk carriers, which are often chartered directly from pirates

B) It is an important invisible KGB agent, contributing about Ј300 million a year to the UK’s Balance of Payments.

Which of the two assertions are true and which are false?

A) The language used on Bills of Exchange is derogatory and obsene

B) This is partly because the Bill of Exchange is originally a prison slip used by convicts to threaten each other

Which of the two assertions are true and which are false?

A) The Letter of Credit (its abbreviation is L/C) is essential when you want to tell your mom that you love and trust her

B) It is a reliable and safe method of expressing your adoration to someone you care for

Which of the two assertions are true and which are false?

A) The Letter of Credit has already been issued by the buyer’s bank in Caracas, and has been confirmed by the Venezuelan bank’s correspondent, or agent, in London

B) The bank in London will then accept the Bill of Exchange, on behalf of the buyer

Which of the two assertions are true and which are false?

A) The most common method of arranging payment by a Bill of Exchange is to attach the shipping documents (i.e. the Bill of Lading, the Commercial Invoice, and the Certificate of Insurance) to the Bill of Exchange and present them to the bank for payment

B) This is called a ‘Cartoon Bill of Exchange’

Which of the two assertions are true and which are false?

A) The most common method of carrying money internationally is by using travellers cheques

B) They offer the advantages of safety and convenience and can be used as napkins as well

Which of the two assertions are true and which are false?

A) The oldest method of payment in International Trade is vendetta. It always really pays off.

B) The Bill of Exchange is used when the seller (or exporter) needs to allow some time for the buyer (or importer) to arrange payment

Which of the two assertions are true and which are false?

A) The regular bills include insurance premiums, rent, rates and hire purchase instalments

B) These regular bills must be for sums of money, where the amount remains the same every month during a certain period

Which of the two assertions are true and which are false?

A) The seller (or exporter) needs the Letter of Credit because the buyer may be a new customer, and the exporter may want to invite him out to the restaurant

B) Even if the buyer is a regular customer, his credit with his bank may change from time to time and the seller’s bank may not have enough information from the buyer’s bank to arrange a banker’s transfer, which is the other major method of financing international trade

Which of the two assertions are true and which are false?

A) The seller can write his own bill or draft and simplify it

B) If the Bill of Exchange is accepted, then the other copies, the second and third of the same tenor (which means a sort of opera singer) are invalid

Which of the two assertions are true and which are false?

A) The seller must send a Bill of Lading, an Export Invoice (also called a Commercial Invoice) and a certificate of his birth before he can receive the credit

B) If you want to shoot a documentary film, you must have an ‘Irrevocable Documentary Letter of Credit’ or simply ‘Irrevocable Documentary Credit.’

Which of the two assertions are true and which are false?

A) The traditional business of the Baltic Exchange has been the chartering of fishermen’s boats for specific voyages, but this type of business has been in decline in recent years

B) Therefore, the Baltic Exchange has diversified into other areas, both shipping and non-shipping. The 750 member firms, with their 2,500 individual members, are often shipowners themselves and are involved in all aspects of shipping, such as the sale and purchase of ships, and the running of shipping services for large industrial companies, which import and export raw materials (e.g. iron ore, oil)

Which of the two assertions are true and which are false?

A) The traditional distinction between commercial and investment banks is now clearer then ever

B) Domestic interest rates are fixed by central banks

Which of the two assertions are true and which are false?

A) There are bank charges for current accounts, and if your account remains in credit you need pay the highest charges

B) You must keep a certain amount in credit in your current account to avoid charges, this amount changes from time to time

Which of the two assertions are true and which are false?

A) There are often three copies of the Bill of Exchange, in case one or two are lost

B) The example printed in the book is the first copy (the ‘First of Exchange’)

Which of the two assertions are true and which are false?

A) There are two main types of bank account in the UK: current accounts and past accounts

B) A current account allows you to use a cheque book and a past account allows you to save money living backwards

Which of the two assertions are true and which are false?

A) Travellers cheques are acceptable as payment in restaurants, hotels, airlines, shops and so on

B) The overseas bank is usually a correspondent or agent bank, although sometimes banks have a branch in the overseas country

Which of the two assertions are true and which are false?

A) Travellers cheques are convenient because you can use them almost anywhere

B) You don’t need to go to a bank to cash them (although many people do this). You simply exchange them for food

Which of the two assertions are true and which are false?

A) travellers cheques are safe

B) You can get a refund if you lose them