intervention

1

金融专业英语阅读（答案）

ChapterOne

MonetaryPolicy

(货币政策)…………………………………

ChapterTwo

ForeignExchangeRiskand

WhyItShouldBeManaged

(外汇风险和进行外汇管理的原因)………………………………………

ChapterThree

ToolsandTechniquesfor

TheManagementofForeignExchangeRisk

(控制外汇风险的工具和方法)…………………………………

ChapterFour

nExchange

Intervention

(美国对外汇交易的干预)…………………………………

ChapterFive

HistoryofAccounting

(会计的历史起源)…………………………………

ChapterSix

AccountingandBookkeeping

(会计和簿记)…………………………………

ChapterSeven

FinancialMarketsandIntermediaries

(金融市场和中间业务)…………………………………

ChapterEight

HistoryofInsurance

(保险的历史起源)…………………………………

ChapterNine

InsurancePolicy

(保险单)…………………………………

ChapterTen

2

BankforInternationalSettlements

(国际清算银行)…………………………………

ChapterEleven

CommercialBankLending

(商业银行借贷)…………………………………

ChapterTwelve

CreditAnalysis

(信贷分析)…………………………………

ChapterThirteen

WhatKindofMortgageLoanShouldYouGet?

(何种抵押贷款更适合你？)…………………………………

ChapterFourteen

MutualFund

(共同基金)…………………………………

ChapterFifteen

Bonds

(债券)…………………………………

ChapterSixteen

Options

(期权)…………………………………

ChapterOne

MonetaryPolicy

货币政策

Answers:

3

Multiplechoices

1.D2.B3.C4.C5.A

TrueorFal

1.F2.T3.F4.T5.F6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.E2.B3.D4.A5.C

Clo

Employment,demand,fiscalpolicytools,monetarypolicy,centralbank,interestrates,

"stable"prices,inflation,"federalfunds"rate,openmarketoperations

Translation:

TranslatethefollowingpassageintoChine

1.紧缩性货币政策和扩张性货币政策都涉及到改变一个国家的货币供应量水平。

扩张性货币政策增加货币供应量，而紧缩性货币政策会减少货币供应量。

2.当联邦储备体系在公开市场上购买有价证券，会引起证券价格上涨。债券价格

和利率成反比关系。联邦贴现率就是一种利率，因此降低联邦利率实际上就是

降低利率。如果联邦储备系统决定降低法定储备要求，那么银行能够进行投资

的资金会增加。这会引起投资比如债券价格的上涨，因此利率会降低。无论联

邦储备体系用何种方法来增加货币供应量，利率都会降低，债券价格会上涨。

TranslatethefollowingntencesintoEnglish

ouldmaintainastablecurrencyandprudentmonetarypolicy,andexpectedtostay

withinitsgrowthandinflationtargetsthisyear

ouldalsomaintainaprudentmonetarypolicytosupporteconomicdevelopment

whilepreventinginflationarypressureandfinancialrisks

’conomycontinuedtogrowsteadilyandrapidlyinthefirstquarter,with

investmentinfixedastsslowinganddomesticconsumptionaccelerating.

eofChina’slargeincreainitstradesurplusandforeignexchangerervesinthe

firstquarter,theeffectivenessofitsmonetarypolicy—udtohelpcontrolinflation—was

facing“riouschallenges.”

4

tralbankwouldektofurtherstreamlineitsforeignexchangesystemtofacilitate

ametime,itwouldtightenthemanagementofforeign

exchangeinflowsandttlement.

ChapterTwo

ForeignExchangeRiskandWhyItShouldBeManaged

外汇风险和进行外汇管理的原因

Answers:

Multiplechoices

1d,2,d3,b4,d5,c

TrueorFal

1.T2,F3,T4,F5,F

ReadthefollowingtextandthebestntencesforAtoEtofillineachofthegapsintext

1,E2,C3,B4,A5,D

Clo

Howeverperformfortotheextentfaceexpensivepatternsdevihedgingonlynominal

referencecurrency.

TranslatethefollowingpassageintoChine

1．第四，他们说企业没有任何外汇风险，因为企业用美元或日元（所在国的货币）做

业务。但是有一点很清楚，即使你用美元支付德国客户，当马克贬值，你的价格必须作

调整，否则你的价格就会比当地的竞争者低。

2．再说，股票持有者持有不同的债券，认为一个企业的外汇汇率变化的负面作用可以

用其他企业的盈利挽回。换句话说，汇率风险是可变化的，如果是这样，可能它就不是

风险。

TranslatethefollowingntencesintoEnglish

geriskissimpleinconcept:apotentialgainorlossthatoccursasaresultofan

exchangeratechange.

currenciestherearefuturesorforwardexchange

contractswhopricesgivefirmanindicationofwherethemarketexpectscurrenciestogo.

nerallyagreedthatleverageshieldsthefirmfromtaxes,becauinterestistax

deductiblewhereasdividendsarenot.

nsideranyuofriskmanagementtools,suchasforwards,futuresandoptions,as

arguethatsuchfinancialmanipulationslieoutsidethefirm’sfieldof

experti.

nsactionssuchasimportsandexportsarecovered,

andforeignsubsidiariesfiancéinlocalcurrencies.

5

ChapterThree

ToolsandTechniquesfortheManagementofForeignExchangeRisk

控制外汇交易风险的工具和方法

Answers:

Multiplechoices

1.D2.C.3.A.4.D.5.C.

TrueorFal

1.T2.F3.F4.T5.F.6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.C2.D3.E4.A5.B

Clo

hedge,interestdifferential,futures,denominating,debt,expod,logical,endsup,costly,

advantageous

Translation:

TranslatethefollowingpassageintoChine

外汇交易当然是指两种不用货币之间的交易了。每一组货币的交易或“买卖”都包含两

个部分。一个是即期市场，在这个市场中支付（交付）需在交易时立即进行（在实

际操作中一般是在第二个交易日进行），另一个就是远期市场。远期市场的汇率是在

交易的时候就先确定了，但实际的交易，或交付则是在未来的某个特定时间进行的。

2．外汇交易期权是指一种货币和另一种货币在未来进行交付的一个合同，在此合同中，

期权的所有者有权力以双方商定的价格买进（或卖出）货币，也可放弃该权力。买

进的权力叫看涨期权，卖出的叫看跌期权。为了获取此种权力就需要支付期权费。

期权的出售者收到期权费后，如果买方行使期权的话，那么卖方就有义务以先前预

定的价格交货或收货。

TranslatethefollowingntencesintoEnglish

1．Astheinternationalizationofbusinessgrows,sotoodoesyourcompany'xposureto

lsandtechniquesavailabletohelpyoumangethis

exposurearedevelopingrapidlybuttheinstrumentscarrytheirownparticularchallenges

andrisks,andthepriceforinappropriatehedgingstrategiescanbehigh.

heamountofthetransaction,thepaymentsprocedure,andtheexchangerateareall

determinedinadvance,noexchangeofmoneytakesplaceuntiltheactualttlementdate.

Thiscommitmenttoexchangecurrenciesatapreviouslyagreedexchangerateisusually

6

referredtoasaforwardcontract.

malcurrencyfutures

deliverydatesareMarch,June,SeptemberandDecember,whileforwardsareprivate

agreementsthatcanspecifyanydeliverydatethatthepartieschoo.

4．Anotherdifferenceisthatforwardsaretradedbyphoneandtelexandarecompletely

s,ontheotherhand,aretradedinorganizedexchanges

suchtheLIFFEinLondon,SIMEXinSingaporeandtheIMMinChicago.

5．Thusforwardsandfuturesrvesimilarpurpos,andtendtohaveidenticalrates,but

gcompaniesuforwards;futurestendtobeud

whenevercreditriskmaybeaproblem.

ChapterFour

nExchangeIntervention

美国对外汇交易的干预

Answers:

Multiplechoices

1.C2.B.3.A.4.B.5.C.

TrueorFal

1.F2.T3.T4.F5.F.6.F

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.C2.A3.D4.B5.E

Clo

Assigned,primary,typically,inconsultationwith,conducted,against,comparedwith,shift,

immediately,signal

Translation:

TranslatethefollowingpassageintoChine

1.美国财政部全权负责管理美国政府的外汇储备持有量。它和美联储密切合作控制美元

在外汇市场上的情况。如财政部觉得有必要削弱或是增强美元的地位时，它就会通知纽

7

约的美联储以财政部代理人的身份来干预外汇市场。

2.汇率是以一国货币表示另一国货币的价格。外汇汇率对一国政府来说有着很大的影

响，因为外汇汇率的变动影响到该国货物和金融工具的价值。因此，外汇汇率的突然或

是较大变动都将影响到一国市场和金融体系的健康状况。汇率变动也将影响到一国的国

际投资流向，以及出口和进口价格。这些因素反过来又会影响到通货膨胀和经济的增长。

TranslatethefollowingntencesintoEnglish

etheFed'spurchasorsalesofdollarsaresmallcomparedwiththetotalvolumeof

dollartrading,d,

interventionaffectstheprentandfuturebehaviorofinvestors.

stratedifferentialsbetweencountriesareoneofthemainfactorsthatinfluence

endstoflowintoinvestmentsincountrieswithrelativelyhighreal

(thatis,inflation-adjusted)interestrates,increasingthedemandforthecurrenciesofthe

countriesand,thereby,theirvalueintheFXmarket.

entionintheFXmarketisnottheonlywaymonetaryauthoritiescanaffectthevalue

oftheircountries’lbankscanalsoaffectforeignexchangeratesindirectly

byinfluencinginterestrates.

ryauthoritieshas

eralRerveBankofNewYork

intervenedonlytwicesince1995.

lbanksinothercountrieshavesimilarconcernsabouttheircurrenciesand

y,interventionoperationsare

undertakenincoordinationwithothercentralbanks.

ChapterFive

HistoryofAccounting

会计的历史起源

8

Answers:

Multiplechoices

1.B2.D3.C4.D5.A

TrueorFal

1.F2.F3.F4.F5.T6.T

ReadthefollowingtextandchoothebestntencesforAtoDbelowtofillineachof

thegapsintext

1.D2.B3.A4.C

Cloze

evolvedfrom,submit,astsandliabilities,maintained,disburments,audit,successors,

fiscaloperation,revenues,supervid

Translation:

TranslatethefollowingpassageintoChine

1．有人认为会计的发展仅仅是响应时代的需要，这些需要是因环境和社会需求方面的

变化而产生的。另外有人声称,会计学的发展本身就推动了商业的发展，因为只有使用

更为精确的会计方法，现代商业才能得以发展、繁荣，顺应经商者和大众的需求。不管

怎样，会计史能使我们一般性地了解经济贸易的历史，能帮助我们更好地预测随着全球

贸易的逐步发展，我们所面临的问题。

2.然而，古代人在记录、控制及核查财务往来方面遇到的困难与我们目前的困难并非完

全不同。政府尤其有强烈动机要求仔细记录财务收支情况，尤其是在关税收方面。并且，

在任何一个个人可以积聚财富的社会，富人们都希望审核一下受托管理他们资产的奴隶

和雇员的诚实度和技能。

9

TranslatethefollowingntencesintoEnglish

mostothermodernprofessions,accountinghasahistorythatisusuallydiscusdin

termsofoneminalevent–theinventionanddisminationofthedoubleentrybookkeeping

process.

mptingtoexplainwhydoubleentrybookkeepingdevelopedin14thcenturyItaly

insteadofancientGreeceorRome,tondescribesven"key

ingredients"whichledtoitscreation:

,thepersistentuofRomannumeralsforfinancialtransactionslongafterthe

introductionofArabicnumerationappearstohavehinderedtheearliercreationof

double-entrysystems.

etieswherenearlyallwereilliterate,writingmaterialscostly,numerationdifficult

andmoneysystemsinconsistent,atransactionhadtobeextremelyimportanttojustify

keepinganaccountingrecord.

ownedCodeofHammurabi,handeddownduringthefirstdynastyofBabylonia

(2285-2242B.C.),forexample,requiredthatanagentllinggoodsforamerchantgivethe

merchantapricequotationunderalorfaceinvalidationofaquestionedagreement.

ChapterSix

AccountingandBookkeeping

会计和簿记

Answers:

Multiplechoices

1.B2.A3.A4.B

TrueorFal

1.F2.F3.F4.T5.F6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

10

1.B2.D3.A4.E5.C

Cloze

exist,auditing,examination,accountant,financialstatements,engage,perform,enterpris,

concerned,accuracy

Translation:

TranslatethefollowingpassageintoChine

1.把交易记录在日记账上标志着复式记账制度的开始。在这个制度中，一个组织的财

务状况受到多个相互关联方面的影响，每一个方面都称作一个账户（例如，应付工资账

户）。每一笔交易都可看作由两个方面或更多方面组成，我们称之为交易的借方（或左

边）和贷方（或右边）,并且，其中每一方面都对组织的财务状况产生各自的影响。

2.将（所有的财务）数据转入分类账后，把所有账户的借方或贷方余额列出来，计算

一下所有的借方余额合计数是否与所有的贷方余额合计数相等（因为每一笔交易都被同

时记录为借方和贷方）。这种方法称为试算平衡。这一处理程序及其后的那些处理程序

都将在财务报告期的后期进行。一旦成功地做好试算平衡，会计循环的簿记部分就完成

了。

TranslatethefollowingntencesintoEnglish

ationrelatingtothefinancialpositionofanenterpriisprentedonabalancesheet,

whileation

relatingtoanorganization’sliquidity—namely,howitobtainsandspendscash—isshownon

astatementofcashflows.

stthreestepsfallunderthe

bookkeepingfunction—thatis,thesystematiccompilingandrecordingoffinancial

transactions.

extstepintheaccountingcycle,theamountsthatappearinthevariousjournalsare

transferredtotheorganization'sgeneralledger—aprocedurecalledposting.

iaryaccountsmayalsobekeptforthewagespaidtoeachemployee,foreach

buildingormachineownedbythecompany,andforamountsowedtoeachoftheenterpri's

11

creditors.

ocedureinvolvesariesof

bookkeepingdebitsandcreditstotransfersumsfromincome-statementaccountsintoowners'

equityaccounts.

ChapterSeven

FinancialMarketsandIntermediaries

金融市场和中间业务

Answers:

Multiplechoices

1.c2.a3.b4.b5.b

TrueorFal

1.t2.f3.t4.f5.t6.f

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.c2.a3.e4.d5.b

cloze

asts,houholds,corporatebonds,intermediary,source,condarycurities,interest,

liabilities,receipts,costs

Translation:

TranslatethefollowingpassageintoChine

1.一方面，我们可以把证券交易所，比如纽约证券交易所，看成是一个中介。这个中

介为买方和卖方之间的交易提供了一个固定场所。资产并没有大幅减少。如果没有

这个市场，交易成本会很大，结果就是交易的股票数量会大量减少。

2.所有的有价证券都是用来减少直接购买金融工具所带来的交易成本，比如不可分性

和信息的问题。但是，金融中介专门从事买卖各种有价证券。

TranslatethefollowingntencesintoEnglish

ctionscostxplaintheexistenceoftheindustryoffinancialintermediaries.

Consum

purchaoffinancialastsorcuritienablesindividualstotransferconsumptionthrough

12

time.

ermediary,however,isabletopurchalargeblocksofcuritiesandotherasts

andtoputtogethertheastsinaformdesiredbyconsumers,therebyeliminatinga

largeamountoftransactioncosts.

lworldoffrictions,however,specializedprofit-makingfinancialintermediaries

havearinandundergonemanymodificationstomeetthespecializedneedsofgroupsof

consumersoffinancialproducts.

wthofastsofvarioustypesoffinancialinstitutionsinthepost-worldwarⅡ

ycurities,whichareaststothe

intermediaryandliabilitiestohouholdsandbusiness,aregenerallyheldintheform

ofbonds,businessloans,mortgages,andstocks.

eoftheinstitutionsistoobtainfundsfromsurplusctorandtosupplyfundsto

ing,theybuyprimaryinstrumentsfromtheshortctorandll

theirownfinancialinstruments,whicharecalledcondaryinstruments,tothesurplus

ctor.

ChapterEight

HistoryofInsurance

保险的历史起源

Answers:

Multiplechoices

1-A2-C3-B4-B5-D

TrueorFal

1-F2-F3-F4-T5-F6-T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1-D2-A3-E4-C5-B

Clo

basic,operated,nior,federal,routine,contributions,tax,health,different,coverage

Translation:

TranslatethefollowingpassageintoChine

1.保险是一纸法律合约，保护人们免于遭受由于失去生命、丧失健康、诉讼失败或财产

损坏所带来的金钱损失。保险为个人和社会提供了一种方法，可以应对日常生活中面临

13

的某些风险。人们可从各种保险组织购买保险合约（称为保险单）。

2.几乎每个生活在现代工业化的国家里的人都购买保险。例如，大部分国家的法律都要

求拥有汽车的人购买保险才可以在公路上驾驶。贷方要求使用借款资助房屋或汽车购买

的人为该财产投保。商业伙伴为彼此投保人寿保险以保证即使其中一个合伙人死亡生意

仍会取得成功。

TranslatethefollowingntencesintoEnglish

hthemechanismofinsurance,however,thecarownercansharetheriskofan

accidentwithotherswhofacethesamerisk.

ange,allpolicyholders(peoplewhoowninsurancepolicies)receiveapromithat

thegroupofpolicyholders—asreprentedbytheinsuranceorganization—willpaywhenany

policyholderexperiencesacoveredloss.

uctioninriskbroughtbyinsurancereliesonamathematicalconceptcalledthelaw

oflargenumbers.

rsdistinguishbetweentwotypesofrisk:speculativeriskandpurerisk.

surancecompaniesnowhelpbusinessfinancelargelossincludingtho

incurredonspeculativerisks,suchastheinternationalexchangeofcurrency.

ChapterNine

InsurancePolicy

保险单

Answers:

Multiplechoices

1-C2-D3-D4-B5-A

TrueorFal

1-T2-F3-F4-T5-F6-T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1-C2-E3-A4-B5-D

Clo

pos,insured,extend,policyholder,renewable,coverage,increa,before,long-term,switch

14

Translation:

TranslatethefollowingpassageintoChine

1.首先，理赔代表要确认在发生损失时索赔者实际上已从公司购买保险单并且支付的保

险费能够包含该时间段。例如，如果保险客户未进行支付，导致保险单过期，则保险公

司不会对保险单过期后的索赔进行支付。

2.理赔代表还会确认保险单中达成的条款适用于特定索赔，包括导致损失的特别事件。

例如对人们的房屋进行保险的标准保险单一般涵盖如闪电、风暴等自然事件造成的损

失。然而，它们不包括洪水或地震造成的损失。最后，谨慎的理赔程序可确保索赔者的

保险团体其他成员尽可能少的支付保险费又可以充分支付正当索赔。

TranslatethefollowingntencesintoEnglish

themostimportantofthecriteriainclude:(1)thefinancialstabilityofthe

insurancecompany,(2)thepriceofpolicies,and(3)detailsofcoverageandrvice.

inanciallysoundcompanycanfulfillitspromitopayinallcircumstances.

pricesvarysignificantlyamongcompanies,butcompetitionusuallyforcesmost

companies’pricesintoanarrowrange.

ekingtobuyinsuranceoftenuthervicesofaninsuranceagentorbrokerto

assistintheirpurcha.

,adetailedexaminationofcoverageinpoliciesprovidedbydifferent,well-regarded

companiescanhelpconsumersmakethebestchoicebadontheriskstheyface,theirneeds,

andtheirfinances.

ChapterTen

BankforInternationalSettlements

国际清算银行

Answers:

Multiplechoices

1.B2.B.3.B.4.A.5.D.

TrueorFal

1.F2.T3.F4.F5.F.6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

C2.E3.A4.B5.D

Clo

Asts,raid,option,arrange,registered,consistof,original,dividends,votingrights,

15

reprentation

TranslatethefollowingpassageintoChine

1.国际清算银行从各中央银行吸收保证金，同时又向这些中央银行，并且通过它们，向

整个国际金融体系提供各项服务。它也为中央银行间的国际货币合作，咨询以及信息

的交流提供了一个平台；同时还引导货币，经济和金融方面的研究，并且充当国际财

务结算的代理人或受托人。

2.国际清算银行最初筹集资金时，所有参与银行都拥有选择权，既可以自行购买国际结

算银行的股份或是安排向公众出售这些股份。现在国际清算银行86％的股份都是以中

央银行的名义注册的，剩余14％的股份则由私人股东所持有。

TranslatethefollowingntencesintoEnglish

r,privateshareholdersdonothavevotingrightsorreprentationattheBISannual

ountry'scentralbankoritsnomineemayexercitherightsof

reprentationandvoting.

holdsmeetingsforthegovernorsofthecentralbanksandotherofficialsto

examineeconomic,financial,andmonetaryissuesandtofacilitateinternational

cooperation.

mitteebelievedthattheframeworkwouldstrengthenthesoundnessandstability

oftheinternationalbankingsystembyencouraginginternationalbankingorganizationsto

increatheircapitalpositions.

heAccordhasbeenakeyelementinpromotingthesafetyandsoundnessofthe

bankingsystem,financialinnovationhaxpodcertainweaknessinthecurrentcapital

Accord.

providesmanyinvestmentrvicesforitscustomersanditalsolendstocentral

bankssomeofthefundsitreceivesasdepositsfromothercentralbanks.

ChapterEleven

CommercialBankLending

(商业银行借贷)

Answers:

Multiplechoices

1.D2.C.3.D.4.B.5.D.

TrueorFal

1.T2.F3.F4.T5.F.6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

16

1.E2.D3.B4.A5.C

Clo

execute,paid-incapital,borrowedfunds,customers’deposits,inademand,jeopardize,

evaluate,potentialborrower,sought,repaid

Translation:

TranslatethefollowingpassageintoChine

1.银行只出于有利可图的目的发放贷款：对贸易进行融资，扩展业务等等。一旦银行

从申请人那里获得想要的信息，它会考虑所涉及的风险。这意味着评估贷款的3C：品

质、能力以及资本——借款人的诚实、他的还款能力以及他财务状况的稳定。

2.贷款经理必须收取一定金额来补偿高于那些适用于银行优惠利率借款人的风险。银

行优惠利率适用于短期贷款。如果贷款金额较大，并且必须通过一个较高的利率补偿，

银行通常会考虑对正常的商业贷款给予最长为5年的期限，尽管存在竞争性的国际压力

会使这一期限长达10年。

TranslatethefollowingntencesintoEnglish

ecisionisnegative,thecreditapplicantintitledtoapromptacknowledgementby

thebanksothathemayeitherekalternatefinancingordeferthepropodbusiness

transaction.

2.“Ondemand”meansthatthenotewillhavetobepaidatsuchtimewhenthebankdemands

’sacceptancescanbeudforonlycertaintypesoftransactions;involving

internationaltrade,ictrade,andthestorageofcommodities.

ditofficermustalsodecidewhethertomakeanuncuredloanoracuredloan

(curedbycollateralassignedtothebank,suchascuritiesorpreciousmetals),orwhether

theuncuredloanshouldbeguaranteed.

geloans,banksoftenformasyndicate,adevicewherebyoneormoremajorbanks

formaconsortiumofbanks,eachofwhichdisbursaportionoftheloan.

catemaybedesirablebecauoflegallendinglimitsonbanks,thegeneral

relationshipofthetotaldemandforcreditcomparedtothesupplyofloanablefunds,orthe

prudentbanker’sdesiretospreadtherisk.

ChapterTwelve

CreditAnalysis

信贷分析

17

Answers

MultipleChoices

1.A2.A3.B4.D5.B

TrueorFal

1.T2.F3.T4.F5.F6.T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachofthe

gapsintext

Answer:1.B2.D3.A4.E5.C

Cloze

repay,purcha,looksto,recognize,creditterms,protect,loanagreement,financial

limitations,specificprovisions,operatingenvironment

TranslatethefollowingpassageintoChine

1.信贷员评估这份报告，并与分析师共同讨论报告是否有错误、遗漏和夸大。如果信用

（贷款）无法满足银行的风险标准，信贷员就通知借款人最初的（借款）请求已被拒绝。

信贷员可以建议借款人采用一些步骤，以改善借款人的状况和还款前景，并在境况改善

之后再次提出借款请求。如果信用在风险范围之内可以接受，信贷员则提出明确的初步

贷款条件，包括贷款额度、到期日、利率、抵押担保要求、还款计划等。

2.很多小银行没有专门的信贷部门和专职的分析师来准备有关的信用历史纪录。信贷员

独自完成上面列出来的步骤，然后再决定是接受还是拒绝一项贷款请求。通常，贷款请

求在未经了解借款人的详细状况的情况下就被接受了。财务报表可能是手写的或是未经

审计，或不符合公认会计原则。然而，借款人也许拥有良好的信誉和充实的资产净值。

在这种情况下，信贷员要与借款人一起准备正式的贷款请求并获得尽可能充分的财务信

息。这可能意味着（信贷员）要亲自审计借款人的收入、支出、应收款项和存货等项目。

TranslatethefollowingntencesintoEnglish

Thecreditfilecontainsbackgroundinformationontheborrower,includingcallreport

summaries,pastandprentfinancialstatements,pertinentcreditreports,andsupporting

schedulessuchasanagingofreceivables,abreakdownofcurrentinventoryandequipment,

andasummaryofinsurancecoverage.

Ifthecustomerisapreviousborrower,thefileshouldalsocontaincopiesofthepastloan

agreement,cashflowprojections,collateralagreementsandcuritydocuments,anynarrative

commentsprovidedbypriorloanofficers,andcopiesofallcorrespondencewiththecustomer.

Capacityinvolvesboththeborrower’slegalstandingandmanagement’xpertiin

maintess

muvidual

mustbeabletogenerateincome.

Complacencyreferstothetendencytoassumethatbecauthingsweregoodinthepastthey

18

examplesareanoverrelianceonguarantors,reportednet

worth,orpastloanrepaymentsuccessbecauit’salwaysworkedoutinthepast.

Competitioninvolvesfollowingcompetitors’behaviorratherthanmaintainingthebank’sown

omethingbecauthebankdownthestreetisdoingitdoesnotmean

it’sgood.

ChapterThirteen

WhatKindofMortgageLoanShouldYouGet?

何种抵押贷款更适合你？

Answers:

Multiplechoices

1.d2.b3.c4.d5.c

TrueorFal

1.t2.f3.f4.f5.t6.t

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.b2.e3.d4.c5.a

Clo

mortgagebrokers,intermediaries,lender,adjustable-rateloans,package,fixedrates,

aggressive,holdonto,adjustable,adjustableloans

Translation:

TranslatethefollowingpassageintoChine

1.抵押贷款的数量就是你从贷款人那里借来用来买房的钱数。抵押贷款的期限就是你

返还所借款需要的时间。

2.在你贷款期间，你每月定期偿还本金和利息。在你贷款的头几年，你所偿还的大部

分钱是用来偿还你所欠的利息。贷款的最后几年，你主要偿还本金。这种偿还方式

叫做分期偿还。

TranslatethefollowingntencesintoEnglish

19

ndersnowhavetheirowncreditscoringsystemsthathelpthemfigureouthow

muchofariskapersonactuallypos—andsocanpricetheirloansaccordingly.

na30-yearfixed-rateloanareincrediblylow,andthoughafixedratestillcostsmore

thananadjustable-ratemortgage,thedifferencebetweenthetwoisnotthatgreat.

terestratesattheirlowestlevelsinyears,mortgagebrokersandbankersaretaking

morecallsthanNewYork'squit-smokinghotline.

monthlycashflowpermitsit,thly

paymentishigher,butyoupaylessinterestoverthelifeoftheloan.

,becauofrisinghomepricesandlowinterestrates,theracetowritejumboloans

hasbecomethemostcompetitivepartofthemarket—andlendersnolongergetawaywith

chargingsomuchforlargerloans.

ChapterFourteen

MutualFund

共有基金

Keys:

Multiplechoices

1.B2.D3.A4.D5.C

Trueorfal:

1.F2.T3.T4.F5.T

ReadthefollowingtextandchoothebestntencesforAtoDbelowtofillineachofthe

gapsintext.

BDCA

Clo:

Makeworkoriginallossdifferentfromdistributedexceed

pileofftpassmore

TranslatethefollowingntencesintoChine

1.如果你决定投资股票市场，共同基金能够让你简单地拥有股票而不用为选择那种股票

而发愁。

2.它的意思是基金不会把资本收益分配给股东，直到所获的利润大于其亏损。

TranslatethefollowingntencesintoEnglish

20

versificationsharplyreducestheriskofariouslossduetoproblemsina

particularcompanyorindustry

asyouhavefiveormoreyearstountilyouneedthemoney,stockfundswill

likelyprovideyouwithsuperiorreturnsoveranyotherinvestment.

blemthatmostpeoplehaveisthattheythinkbondsare“safe”–butbondreturns

arestillvolatile,andwillgiveyoualowerrateofreturnthanstocksovertime.

ChapterFifteen

Bonds

债券

Answers:

Multiplechoices

1-C2-C3-A4-A5-D

TrueorFal

1-T2-F3-T4-F5-T6-T

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1-E2-A3-B4-C5-D

Clo

facevalue,maturitydate,coupon,collect,regular,issues,principal,maturity,fixed-income,

yearlyincome

Translation:

TranslatethefollowingpassageintoChine

1.然而，当GE发行债券时，公司会保证偿还你的本金（面值）以及利息。如果你购

买债券并保留到到期日，你可以准确地知道将收回多少（总之，大部分情况如此。

我们稍后将讨论例外情况）。这就是债券也被称为“固定收入”投资的原因－债券可

以确保你有稳定的回报或年度收入。虽然债券也有很多风险，但是这种定期收入使

得它们在本质上比股票的波动要小。

2.为什么通货膨胀对债券持有者而言是一个问题？以这种方式来考虑：上涨的价格使

21

今天的美元在将来比今天的价值更小。既然债券会将你的钱套牢长达30年，上扬

的通货膨胀率就会具有特别的腐蚀效应。

TranslatethefollowingntencesintoEnglish

heentitiesneedmoneytooperate--tofundthefederaldeficit,forinstance,orto

buildroadsandfinancefactories--sotheyborrowcapitalfromthepublicbyissuing

bonds.

Estockspendsmostofitstimemovingupward,ithasbeenknowntospend

months--evenyears--goingtheotherway.

peopledojustthat,butmanyothers--includingthepros--buyandllbondson

theopenmarketbeforetheyreachmaturity.

ionrisk,creditriskandprepaymentriskareallfiguredintothepricingofbonds.

ioncouldrunrampant,riouslyerodingthepurchasingpowerofthat$1,000you're

suppodtogetbackin30years.

ChapterSixteen

Options

期权

Answers:

Multiplechoices

1.C2.D.3.D.4.C.5..A

TrueorFal

1.F2.T3.F4.F5.T6.F

ReadthefollowingtextandchoothebestntencesforAtoEbelowtofillineachof

thegapsintext

1.D2.E3.A4.C5.B

Clo

marginpurchacontrastassignedbeacquaintedwithterminologystrike

availablecurrentintervals

Translation:

TranslatethefollowingpassageintoChine

1.股票期权在到期月的第三个星期五结束时截止。所有上市期权都可为当前月份、下个

22

月份、甚至将来某些特定月份提供相应期权。每种股票与他们提供的期权都有对应的月

份周期。

2．内在价值和时间价值是决定期权价格的两种主要因素。内在价值可被定义为实值期

权协议价格的数额。实际上，就是随着时间的流逝期权的价值没有损失的那部分。

TranslatethefollowingntencesintoEnglish

1Thebuyerofcalloptionhaslimitedloss,andthemaximumlossisthepremiumwhilethe

potentialgainisprobablyunlimited.

2Thellerofcalloptionhasunlimitedloss,andthepotentialgainisprobablylimited----the

maximumprofitisthepremium.

3Foreigncurrencyoptionsmayultimatelybecomeanimportantfinancialinstrumentin

facilitatinginternationaltradebyreducingsomeoftheriskassociatedwithaflexible

exchangeratesystem..

4Foreigncurrencyoptionshaveanumberofadvantagesoverforwardorfuturescontractsas

ameansofavertingexchangeraterisk.

5Theuofforeigncurrencyoptionsislikelytogrowsimplybecauofrisingfamiliarity

withtheinstruments;themorethepeopleuoptionsandbecomecomfortablewiththem,the

largerthemarketislikelytobecome.