2011西財金融专业考研复试真题(学院)超详细.doc

2011西财金融专业考研复试真题（学院） 笔试 一、简答题 1. 央行货币政策工具的优缺点。 2. 央行独立性内容原则。 3. 有效市场假说 二、计算 1. MV=PT 现金交易说 2. 贴现 三、问答 1. 沉没成本 2. 金银复本位制 3. 中央银行建立标准 4. 利率 英语面试 中央银行的职能。 The central bank is the 1“bank of issue” ，is the only currency issuer in the country 2“bank of banks”The central bank as abank?of?banks,? refers to?the?central?bank only?business dealings with commercial banks and?other financial institutions,?not?of?a direct credit relationship with?the?businesses and individuals 3 Act?as?a?lender of last resort 4 The?central bank?is?the?national?bank refers to the central bank provide the country with?a variety of?financial services on behalf of the state to develop the implementation?of?monetary policy and external financial relations. The?central banks?monetary policy tools Reserve?system Rediscount Open market operations Determine?the?central banks?benchmark interest rate Refinancing 金融怎么使世界更美好？ 对金融的哪个部分（课题）感兴趣？为什么？用英文解释下证券市场线。 SML：Relationship between Expected Return on an Individual Security and Beta of the Security。 The Security Market Line (SML) is the graphical depiction of the capital-asset-pricing model (CAPM). The expected return on a stock with a beta of 0 is equal to the risk-free rate. The expected return on a stock with a beta of 1 is equal to the expected return on the market. The APT ：assumes that returns on securities are generated by a number of industrywide and marketwide factors By contrast,though the CAPM allows correlation among securities, it does not specify the underlying factors causing the correlation. CAPM ：This formula, which is called the capital-asset-pricing model (or CAPM for short), implies that the expected return on a security is linearly related to its beta. Since the average return on the market has been higher than the average risk-free rate over long periods of time, is presumably positive. Thus, the formula implies that the expected return on a security is positively related to its beta. The formula can