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对外经济贸易大学 2005 年攻读硕士学位研究生入学考试
金融专业基础试题
所有答题（包括英语的判断题和选择题）均做在答题纸上，并在每题答案前标明各级题
号。在本试卷上答题无效。
一、True-False Questions（1 x 15=i5 points）．
Indicate whether each of the following statements is true or false by writing“T”Or“F”on your answer sheet．
1．In a freely floating exchange rate system，exchange rates are determined solely by the forces of supply and demand which，in turn，are influenced by fundamental economic variables．
2．According to the price·specie-flow mechanism，prices are equalized across countries， and the international payments are brought into equilibrium automatically．
3．According to the theory of the optimum currency area，the trade-off becomes favorable as the size of the economic unit shrinks．
4．The balance of payments is an accounting statement which measures all financial and economic transactions between domestic residents and non-residents over a specified period of time．
5．A currency is said to be selling at a premium if the forward rate expressed in dollars is less than the spot rate．
6．If the first forward quote（bid rate）is smaller than the second forward quote （offer rate）， then the forward rate is at a discount and the points are subtracted from the spot rate
7．If exchange rate inconsistencies exist in different money centers，exchange traders will take advantage of currency arbitrage opportunities．
8．An out-of-the-money option is worthful on its maturity date．
9．Purchasing power parity says that the currency with the higher rate of inflation is expected to depreciate relative to the currency with the lower rate of inflation．
10．If the forward rate is unbiased，then it should reflect the expected future spot rate at maturity．
11．Transaction risk can not be eliminated by pricing all contracts in the home currency．
12．The Eurobond market exists because investors are able to avoid government regulation and taxes．
13．Although interest rate swaps can be used to hedge interest rate risk，they may not be used to reduce costs．
14 ． The Brady plan called on Less
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