新整理海南金融英语(FECT)考试模拟卷.docVIP

海南金融英语(FECT)考试模拟卷 本卷共分为1大题33小题，作答时间为180分钟，总分100分，60分及格。 严格遵守考试纪律，维护考试秩序！ 一、单项选择题（共33题，每题2分。每题的备选项中，只有一个最符合题意） 1.Over-the-counter derivatives:() A. carry no default risk.B. have good liquidity in the over-the-counter (OTC) market.C. are customized contracts. 参考答案：C OTC derivative contracts (securities) are customized and have poor liquidity. The contract is with a specific counterparty and there is default risk since there is no clearinghouse to guarantee performance. 2.Which of the following types of companies are more likely to use the payback method to evaluate capital projects（） A. Asian companies and private companies.B. European companies and private companies.C. Asian companies and larger companies. 参考答案：B Surveys indicate that European companies and private companies tend to use the payback period criterion more than other types of companies. 3.When an unreliable estimate of costs exists and ultimate payment is assured, which of the following revenue recognition methods should be used（） A. Percentage-of-completion method.B. Completed contract method.C. Installment sales method. 参考答案：B The key word is unreliable. The completed contract method is used when cost estimates are unreliable. The percentage-of-completion method recognizes profit corresponding to the percentage of cost incurred to total estimated costs associated with long-term construction contracts. Percent-of-completion is used where contracts and cost estimates are reliable. The installment sales method recognizes revenue and associated cost of goods sold only when cash is received. Gross profit (sales-cost of goods sold) reflects the proportion of cash received. The cost recovery method is similar to the installment sales method but is more conservative. Sales are recognized when cash is received, but no gross profit is recognized until all of the cost of goods sold is collected. 4.Under the cost recovery method, profit is recognized:（） A. as collection occurs.B. after the amount of cost