金融英语听力-中财金融学考研英语听力提高方法

发布时间：2017-09-22 所属栏目：考研英语学习方法

一 : 中财金融学考研英语听力提高方法

听力提高需要精听和泛听相结合。[www.61k.com］

所谓精听，就是听到什么就写下什么。听一句，写一句。如果听不懂，就反反复复听，直到听懂了，写得出来了。如此听完一段录音，然后对照录音原文，检查自己的听写文字。把错的改正过来，再对照它反复听录音原文几遍。听的时候想想自己为什么会听错，是单词不熟悉，还是连读，破读没有听好?

精听的要求是：把录音的每个字，每个词都听写出来，听懂100%的内容。

这种方法很麻烦，但绝对是最好的有效的方法了。建议买个复读机，这样可以省去倒带的麻烦。

所谓泛听，是指只听不写。听一篇文章不超过三次。然后作所附的题。

泛听的要求是，只听大概内容和少量细节，不要求100%的听懂。

初练听力的人往往认为精听很麻烦，泛听很方便，所以倾向于泛听。这是很普遍的现象。但是须知惟有精听和泛听结合，才能有效的提高听力。

关于精听和泛听的结合问题。对于听力很不好的朋友，精听的比例要大些，比如每精听一篇文章，泛听1篇文章。等到听力有了一点进步后，再改为每精听一篇文章泛听2篇;再依次改为精听一篇，泛听3篇。但无论无何，精听量：泛听量不能小于 1：5。

精听在于培养你的分辨单词，读音能力。泛听在于培养你的一次性抓住文章大概要义的能力。

听力在英语考试中占据了非常大的比例，因此，听力的好坏直接影响着我们最终的英语成绩。希望上述的金融学考研英语听力复习方法可以帮到大家。

专业课复习方法指导

第一，大家在看书时一定要注意调控自己的读书注意力，把注意力集中在考试的侧重点上，尽管这些地方有可能很枯燥，也要耐着性子啃下去。对于一些虽然有趣但考试考到的可能性比较小的知识点应该一带而过。比如你如果要考中国人民银行，那么一些模型或经济图形的数学特征尽管很有趣，尤其对于理工的朋友来说。但你也应该一带而过，因为是不会考的(在知识点方面谁也没有权利这样说，但具体的考查方式上还是决定大家看书时重点的取舍的)。

第二，看书切勿贪多求全。肯定会有朋友觉得看得很慢，有时当日给自己定下的任务不能完成，其实快慢只是表象。曾经有名金融状元在经验帖中就有提到他在开始看书时一天只看三页。所以看得慢的朋友完全没有必要太过担心，但同时也要注意绝对不能让这成为你的借口。重要的是你要明白你看得慢的原因是什么?是精力不够集中还是读书的过程太注重思考?如果是后者，该怎样解决这个问题呢?

答案就是要适当调整你的思考。比如货银中货币供给的那一章，首先从感性上，货币供给的涉及主体：央行是肯定的，同时不要忽略了银行和非银行公众。而这3者各控制供给的哪个环节，通过什么工具，影响其控制作用大小的因素又是什么等。

回到课本，我们有：基础货币×货币乘数=货币供给。那我们如何定义基础货币，货币乘数又是什么，而它和存款乘数又有何联系与区别等等，而这个等式中的因素又如何和我们一开始的感性认识建立联系。最后把货币创造的这个过程画出来形成体系，其他关于其的知识点都可围绕着你画出的骨干进行血肉补充。照这样做的话，你就没有理由抓不住重点，或时间耗得过多。

第一遍时没必要给自己压力过大，要和第二阶段的任务区分开来。此处假设自己在从事实务、在新闻发布会上向群众阐述、在解释给没有相关知识背景的听等等，都可以加深理解记忆。综上所述，看金融学书籍时一定要做到：细、全、准，如此专业课拿高分不是问题。

祝广大学子考学顺利！同学们可以查看凯程考研网站，里面有中央财经大学的金融硕士考研经验视频，分享高分成功经验

二 : 金融英语听力最终版

Unit 1

Short Dialogs

Multiple Choices

Dialog 1

W: Hi, Mike. Why do you look puzzled?

M: I’ve learnt that there are four big commercial banks in your country. Would you please tell me what they are?

W: Yes, it is a pleasure. They are Bank of China, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of

China.

M: So, does CCB refer to China Construction Bank?

W: I don’t see any reason why not. You can simply call them respectively BOC, CCB, ICBC and ABC.

Question: Which of the following is NOT among the four major commercial banks of China? (D)

Dialog 2

M: It is reported that some joint-stock banks have been established in several major cities.

W: Exactly. They are allowed to offer various banking services to individuals and businesses just as the four big commercial banks do.

M: You said it. Can you tell me some joint-stock banks?

W: It is no sweat. China Minsheng Banking Corp. Ltd., China Citic Bank,

Industrial Bank Co., Ltd., and Guangdong Development Bank are all joint stock banks.

M: What about Shenzhen Development Bank?

W: Of course it is one of them.

Question: Which of the following is NOT mentioned in their conversation? (A)

Dialog 3

M: Hi! I just read the news that many foreign banks have set up branches or representative offices in our major cities, such as Beijing, Shanghai and Guangzhou. They think China is a huge market and there are more chances for them to make a fortune.

W: Sure as shooting. I’m told that The Hong Kong & Shanghai Banking Corporation Limited has established branches in Shanghai and Beijing. One of my classmates is now working in a branch of the Bank of East Asia. It is also a foreign bank.

W: Wonderful! There will be more employment opportunities for you when you graduate a year later.

Question: What is the man according to the dialog? (C)

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Dialog 4

W: Is the president still the head of Bank of China after it became a public corporation through listing on the stock exchange?

M: No. Generally speaking, the shareholders’ meeting is the top authority and then the Board of Directors. The president is appointed and confirmed by the Board of Directors. He is authorized by the Board to be in charge of the management and operation of the bank and required to report to the Board. Question: Which of the following has the right to decide the president of BOC?

(C)

Long Conversations

Conversation 1 Bank of China

W: Dr. Zhang, I’d like you to meet Ms. Brown. Ms. Brown, this is Dr. Zhang, Manager of

Beijing Branch, Bank of China.

M: Nice to meet you, Ms. Brown. Welcome to our branch.

W: Nice to meet you, Dr. Zhang. BOC is one of the four big commercial banks of China.

It’s my honor to come here and have a visit.

M: Well, Ms. Brown. Have you heard of anything about our bank?

W: Of course, a lot. I once read the magazine The Banker, er… in 2007, I think, and I learnt from a report that BOC ranked the 9th among the world’s top 1,000 banks. It is incredible for me to be right here, exactly at the bank, Dr. Zhang. I’m very excited.

Would you please tell me more about your bank? I’d like to learn about the 9th largest bank in the world.

M: It is my pleasure, Ms. Brown. The full name of our bank now is Bank of China Limited, shortened to BOC. Frankly, I’m proud of our bank.

W: Yes. I know that. And I’ve studied the history of your bank. The rapid

development of BOC is really unbelievable. As a public company, what about its management and organizations?

M: Generally speaking, BOC has a very effective management structure. Of course, the shareholders’ meeting is on the top of the management. Then there is the Board of Directors. Under the board, there are some committees making up the top management.

W: These committees will discuss important matters and then report to the Board of Directors?

M: Without doubt. The main sections under the top management include the operational section and the supervisory section. The operational section includes different departments dealing with banking operations, general business and supporting business. The supervisory section includes the Auditing Department, the Inspection Department, and the Security

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Department.

W: And there are many branches and sub-branches at home and abroad. Am I right?

M: Absolutely right. You know so much about our bank.

W: You see, I’ve made some study of Chinese banking. It is my field of study for a master’s degree. Well, one more question. Would you please tell me the types of business offered by BOC?

M: BOC is mainly engaged in commercial banking, including corporate banking, retail banking, and online banking or e-banking. We also offer services such as letters of guarantee, syndicated loans, financial advisory services, and so on.

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W: Thank you very much for your introduction. I think I’ve learnt a lot about BOC. No doubt that BOC is the first largest commercial bank in China. M: Oh, well, there is still a long way for us to go. You know, Industrial and Commercial Bank of China ranked the 7th in the world last year.

W: Shortly it is ICBC, right? And there are also Construction Bank of China and Agricultural Bank of China.

M: Exactly. Together with BOC, they are the four big commercial banks of China.

A Lecture Banks in China

Scripts & Answers

(The Host): Ladies and Gentlemen:

Today we are honored to have invited Mr. Lin, the president assistant of

Guangzhou Branch, Bank of China, to come to our department and give us a speech. Let’s give him a warm welcome.

(Mr. Lin): Good Evening, Ladies and Gentlemen. My speech today is about the Chinese banks.

All the banks in our country can be divided into state-owned commercial banks, joint equity commercial banks, the rural banking institutions, foreign banks and policy banks.

The four big commercial banks of China are Bank of China, China

Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China. With China’s entry into the WTO, these banks were

transformed from wholly state-owned commercial banks to

limited companies by listing on stock markets.

There are many joint-stock or joint-equity banks among the commercial banks. Their share in the banking market has been growing rapidly. They operate entirely on a commercial basis and mainly serve the local economic

development in large and medium-sized cities. China Minsheng Banking Corp. Ltd., China Citic Bank, China Industrial Bank Co., Ltd., Guangdong

Development Bank, Shenzhen Development Bank, China Merchants Bank, and Bank of Communications are examples of them. The joint-stock banks

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have become major banks in China. For instance, Shanghai Pudong Development Bank in 2007 ranked amongst the Top

Three Strongest Banks in mainland China by the Asian Banker.

We also have rural banking institutions. They are agricultural banks and rural credit cooperatives that offer bank services to people in rural areas in China. Many foreign banks have established their branches in China. Since the end of May, 2006, the number of foreign banking institutions in China increased from 177 to 264, including 14 locally incorporated foreign banks, 183 foreign bank branches and 52 sub-branches. Hong Kong & Shanghai Banking Corporation Limited and the Bank of East Asia are examples of them.

The three policy banks established in 1994 are Agricultural Development Bank of China, China Development Bank, the Export-Import Bank of China. They facilitated the separation of policy banking from commercial banking operations.

Unit 2

Short Dialogs

Task 1 Multiple Choice

Scripts & Answers

Dialog 1

W: Why can’t I tell interest rate from exchange rate? Who can help me?

M: Well, It is not as difficult as you think. There is a simple way to tell the

difference. When you deposit money with a bank or borrow money from

a bank, you usually earn or pay interest at the set interest rate. If you go to

exchange RMB for some foreign currency, you’ll need to know the current

exchange rate of RMB to that currency. Have you got it?

W: Yeah, I think I’ve got it. The interest rate is the price of local currency on

the local market and the exchange rate is the price of one currency against

another one on the foreign exchange market.

Question: When will exchange rate be used according to the man? (D)

Dialog 2

W: This is the Credit Card Center of China Construction Bank. What can I do

for you?

M: I want to apply for a Long Credit Card. I don’t know what documents are

needed for the application.

W: You are welcome, sir. Just your ID card and your Cer tif icate of

Employment will be required.

M: Oh, very good. I have brought them with me. Here they are.

W: All right. Please fill in an Application Form. Do you have any idea about

the card?

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M: Yes, a little. I’m told it is very convenient to make payment with a Long Credit Card. But how can I put money to my card?

W: It is a piece of cake. When you have a credit card, you hold a credit card account with our bank. You can deposit money to your credit card account through ATMs or over the counter at any bank outlet. If you are too busy to come, you can choose to transfer money from your current account

automatically. We’ll send you a monthly statement and tell you the balance of your account.

Question: What will the customer do if he wants to deposit money to his credit card account? (D)

Dialog 3

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W: Excuse me, would you please tell me the meaning of the word “outstanding balance” on my statement?

M: Yes, well, outstanding balance refers to the amount the card holder should repay to the bank.

W: If the outstanding balance on my statement is $2,000, I should repay the money to the bank immediately I receive it. Am I right?

M: Take it easy. There is a grace period of at least 35 days for a credit card and the statement will tell you the maturity of repayment. It is OK if you deposit enough money to your credit card account before maturity.

Question: What does the term “outstanding balance” mean according to the conversation? (D)

Dialog 4

M: Morning, madam. What can I do for you?

W: Morning, sir, I have a time deposit with your bank. A 5-year time deposit. The balance of the deposit account is 35,000 yuan. At the moment I need an amount of money for emergency. Can I withdraw some money from the deposit account?

M: How much do you want?

W: 20,000 yuan.

M: It’s OK, but the interest should be calculated at the rate on a current

account. What about the rest? Do you want it to be transferred to your

current account?

W: No. I’ll keep it in the time deposit account.

M: All right, but I have to tell you that we should withdraw it first at the current rate of interest and then deposit the money to your account. The

value date of your time deposit is updated from now on.

Question: What will happen if the woman withdraws money from her time deposit account before maturity? (D)

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Long Conversations

Conversation 1 Personal Deposit Services

Scripts & Answers

W: Hi, Robert. What brings you here?

M: Hi! Glad to see you. I’m here to open a RMB account. Could you give me some information?

W: I’d love to. What kind of deposit would you like to have?

M: Well, I’m not sure. Would you please tell me the personal deposit services offered by your bank?

W: Of course. For personal deposit services we have demand deposits, fixed time deposits and savings deposits as well as certificates of deposit. If you have a small amount of money and withdraw cash frequently, you’d better have a demand deposit and open a checking account or a current account. You can write checks on your account, pay bills or transfer your money from one account to another online and get cash through ATMs. If you have a large amount of money and intend to keep it for a long time, I think a fixed time deposit or a certificate of deposit is better. You can open a deposit account. M: What’s the difference?

W: With a checking account, you can write checks on your account and withdraw cash at any time you need, but the interest rate is very low. A fixed time deposit can earn more interest because we offer a higher rate on it.

M: What’s the rate on a certificate of deposit?

W: Oh, the rate on CDs is similar to a fixed time deposit. You may choose different terms for the deposit, such as three months, six months, or a year. We will issue a certificate of deposit or a bankbook for you. You are not allowed to withdraw money from your account until maturity.

M: What if I need to withdraw money from a deposit account before maturity?

W: You’ll lose some interest since a penalty will be charged for your withdrawal of money from your deposit account in advance. Your interest will be calculated at the rate on a current account.

M: How can I withdraw my money from a current account?

W: The current account takes the form of a deposit book as well as a bank card. You may withdraw or deposit money at any time with the card through ATMs or over the counter with your bankbook or bank card.

M: I’d rather open a current account with a bank card.

W: OK. Please fill in this deposit slip and state your currency and the amount here. And please put your passport number and your name here.

M: Here you are. I want to deposit RMB 5,000 yuan. Here is the money. Is everything all right?

W: Yeah, the amount is correct. … Oh, yes, may I have a look of your passport, please? We need a copy of your passport on file. … Thank you. Robert, would you please set a password for your card? Yes, just key in your password through the password processor. Your password should be an 8-digit number. OK. … Now, please key in your number

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again. All right, everything is OK. Here is your bank card and your passport. Please

check it.

M: Fine. Thank you.

W: You are welcome. See you.

M: See you.

Lectures

Lecture 1 Types of Bank Accounts

Scripts & Answers

A Broadcasting Speech:

Ladies and gentlemen, this is the speaker of the Industrial and Commercial Bank of China. It’s an honor for me to be here and give a brief introduction to three principal types of personal accounts offered by our bank.

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First, current accounts. The balance of a current account is repayable on demand and the account holder has the right to draw checks.

A customer may be granted an overdraft, that is to say, he may be permitted to draw checks up to an agreed figure beyond the balance of his current account. If a customer overdraws his current account without the bank’s permission, he may thereby commit an offence under the Bank Act.

The bank charges interest on a day-to-day basis on overdrafts on current account. The rate

of interest is a matter for agreement, but is very frequently between 1% and 5% above the bank’s base rate. The bank usually charges commission for services rendered, whether the account is in credit or overdrawn. Commission is normally debited half-yearly or quarterly.

The bank supplies customers with periodical loose-leaf statements setting out the debit and credit entries in their accounts.

Secondly, deposit accounts. Such deposits are made for fixed terms, such as one, two, three, six or twelve years. Before maturity, the balance of a customer’s deposit account is repayable upon

personal application after a stated period of notice, which at the present time is usually seven days. The customer has no right to draw checks on his deposit accounts.

The bank allows interest on deposit accounts at a rate which varies with its base rate. The

bank does not usually charge commission on a deposit account. If services, such as the collection of dividends or the payment of standing orders, are undertaken, the customer will normally have a current account as well as a deposit account, and commission will therefore be charged in the current account.

The bank supplies its customer with a passbook setting out the debit and credit entries in the account. Alternatively, if a fixed sum is to be deposited, it is still the practice in some places for the bank to issue to its customer a “deposit receipt”.

Thirdly, savings accounts. These accounts are a special type of deposit accounts which are intended primarily for small savers. The rate of interest on savings accounts is usually a little lower than that on deposit accounts, but the rate is fairly static, that is to say, it does not vary with every change in base rate. Some banks allow the full deposit account rate of interest on

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savings account balances in excess of a certain figure, e.g. $200.

Unit 3

Short Dialogues

Task 1 Multiple Choice

Scripts & Answers

Dialog 1

M: Hi, Xiaohong. There is news about bankruptcies of some U.S. banks. It seems the banks are subject to some risks in their operation.

W: Yes. Excessive interest rate risk can pose a significant threat to a bank’s earnings and capital base.

M: Do you know the exact meaning of the interest rate risk?

W: It is difficult to explain it in a few words. Let me see, eh… Generally

speaking, interest rate risk is the risk arising from the change in value of

an interest-bearing asset, such as a loan or a bond, due to fluctuation in

interest rates. As rates rise, the price of a fixed rate bond will fall. As rates

fall, the price of the bond will rise.

M: So the task of control over the interest rate risk would be critical to banks, because the change in interest rates will affect the value of a bank’s

interest-bearing assets.

W: Right, but sometimes it is beyond the control of one bank.

Question: What is usually considered the cause of interest rate risk according to the woman? (D)

Dialog 2

M: Professor Wang, would you tell me what would happen if a bank had

inadequate liquidity?

W: There will be dire consequences, I think. You know that liquidity is a

prime concern in banking operation and a shortage of liquidity has often

been a trigger for bank failures. However, holding assets in a highly liquid form tends to reduce the income from that asset.

M: It is known that cash is the most liquid asset.

W: Exactly. Cash is liquid but pays no interest. So banks usually try to reduce liquid assets as far as possible. Without sufficient liquidity to meet the

demands of their depositors, nevertheless, a bank would experience the

risk of a bank run.

Question: Which of the following is the key reason that liquidity is a prime concern in banking operation according to the conversation? (B)

Dialog 3

M: Lin, our teacher told us today that all the loans made by a commercial

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bank will be classified into five catalogs: normal, observational, inferior,

questionable, and losing. Now, I want to know how to determine which

catalog one loan goes to. Would you tell me about it?

W: Well, it is not an easy job. But it is necessary for the credit risk analysis. As far as I know, the credit risk classification is made according to the repayment

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capacity of the borrower. If a loan is classified as inferior, questionable or

losing, it is said to be a bad loan. The bank will be required to prepare bad loan reserve and the banking regulators will do something for the loan.

M: I see that it is a measure to prevent credit risk.

Question: What is implied if a loan is classified as an observational one? (D)

Dialog 4

M: Diana, what do you think of the subprime mess in the United States?

W: I’ve heard of the word hundreds of times these days. As far as I know, it is

one of the huge risks caused by hedge funds, and the conflicts of interest

have led a lot of banks and companies, especially investment banks into

trouble. They are all the consequences of financial deregulation. Some people

commented that they would reverse field in time to prevent another 1929.

M: Some economic strategy has attracted a lot of criticism recently. They have

come into force in the name of free-market efficiency. People criticized

that some policies have replaced real productive innovation with financial

engineering and shifted wealth from families to corporations, and put the

entire American economy at ever greater risk.

Question: What are they talking about? (B)

Long Conversations

Conversation 1 Apply for an Auto Loan

Scripts & Answers

W: Hello, Mr. Smith. Please have a seat. What can I do for you today?

M: I want to borrow some money to buy a car. A friend of mine, Jack Richardson, bought a new car last week. He told me that he got his loan here.

W: Oh, yes. I remember him. I was the loan officer who attended to the business for him. M: He said that you were very helpful. I know very little about loans and I hope you can introduce them to me.

W: No problem. What questions do you have?

M: First, I want to know if loans for buying cars are commercial loans or personal loans. W: Neither, Mr. Smith, they’re auto loans. Commercial loans are the loans extended to businesses. Personal loans are made to individuals, but not for buying cars.

M: Thank you! Got it. But how much money can I get for an auto loan?

W: I’m afraid you should tell me your use of the car first.

M: For personal use. Is there any difference?

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W: Yes. If you use the loan to purchase automobiles for personal use, you may borrow up to 80% of the purchase price.

M: Wonderful. What about the interest rate?

W: The current rate is 6.78% per annum. It is a floating rate, you know.

M: What’s the term of the loan?

W: The term of the loan shall not exceed 3 years. How do you plan to repay the loan, by instalments or in a lump sum?

M: I want to repay the loan by monthly instalments, equally, of course.

W: OK. How much money do you need for the loan?

M: 80% of the purchase price of the car, er…, that is RMB 80,000 yuan. But do you need any guarantee for the loan?

W: That is exactly what I’m going to tell you. To apply for personal auto loans, you need to provide guarantee, such as pledge-backed property, mortgaged autos that you purchase, mortgaged houses, or third-party guarantees.

M: Third-party guarantee?

W: Absolutely. Besides, we’ll also check your credit record to make sure that you always paid back your loans in the past. Excuse me, do you have any current account with our bank? M: Yes, we have a RMB current account as well as a USD time deposit with your bank. W: What is the average balance of your current account?

M: About a 4-digit number. Oh, yes, I want to use my USD time deposit as the collateral. The account balance is $20,000 and the term is 5 years. The money is saved for my

daughter. I’ll send her to study abroad. Is it all right?

W: That’s very good. I think there will be no problem. But I have to tell you that the

account would be frozen during the period of the loan. Is there any problem?

M: No problem.

W: All right. Now what you need to do is to fill out this application form and prepare your documents.

M: Thank you very much. I’ll start right now.

Lectures or News Reports

A Lecture Lending Business

Scripts & Answers

Well, today, I’d like to introduce the lending business.

We all know that lending to commercial customers is more complex than lending to

personal customers. This is because commercial customers are involved in a much wider range of activities. Commercial lending refers to lending services to sole proprietors (sole traders), partnerships, private companies and public limited companies. As the term implies, commercial lending services offered by banks provide financial assistance to business and commercial

sectors. In Hong Kong, the most popular is the trade financing in import-export sectors, followed by building and construction, wholesale and retail business, and of course, manufacturing and production sectors. Depending on the size of the operation, the need for financing in the commercial

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sector may range from a few thousand to billions of Hong Kong dollars.

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The duration of the commercial loan may be short-term (up to 12 months), medium-term

(1-5 years), or long-term (5 years and more). Thus, a sole trader may require bank finance for his export bills or a loan (30 days term) against his imports, while a public company may acquire a long-term loan facility for the acquisition of a commercial building. Therefore, the sole trader may request an overdraft on his current account from the bank, while the public company is likely to

ask for a loan for specific purpose with a repayment schedule over a longer period of time. Since commercial lending involves a much wider scope and range of lending criteria and procedures, it deserves a separate discussion next time.

Unit 4

Listen carefully and choose the best answer to the question after each dialog.

Scripts & Answers

Dialog 1

M: Well, you’re back at last from the bank.

W: Yes, just now. The manager of the Credit Department said that they will

learn about the economic performance of our business from the financial

statements submitted to them.

M: Exactly. He can make a comparison between the financial statements

of one year with those of the next year. It is particularly helpful in

understanding a company’s financial position.

W: I understand that if we want to borrow money from a bank, we should

prepare accounting reports and submit to the bank our financial statements

on all the activities of operating, investing and financing of our company.

M: Yes. The manager will read the statements and get the data implied by the

accounting reports in order to make decision.

Question: What need to be submitted to the bank according to the dialog? (B)

Dialog 2

W: Now let’s review the entity concept. There is an example here. We have

a business, a barbershop, as example. The balance of the owner’s equity

account is $30,000 at the end of the year. The owner explains that only

half of that amount—$15,000—is the net income from operations of the

business. The other $15,000 is the receipt from the sale of his private

motorboat. What do you think of his way of making the financial report?

M: The owner is all wet. According to the entity concept, he should account

for the money generated by the business—one economic unit—separately

from the money generated by the sale of an item belonging not to the

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business but to his private property a second economic unit.

W: Thumbs up! In fact, this separation makes it possible to view the barbershop’s financial position clearly.

Question: What can we learn from the example? (C)

Dialog 3

M: Professor, would you please tell me what must be classified as business assets?

W: That’s all right. Er … assets of a business are the items expected to be of benefit in the future. Land, buildings, and equipment are examples of plant assets.

M: What about cash, accounts receivable, and notes receivable due within a year or less?

W: They are all current assets.

M: Which is more liquid, demand deposit with a bank or accounts receivable? W: Demand deposit, of course. It is the most liquid other than cash.

Question: Which of the following is NOT mentioned as an asset? (B)

Dialog 4

W: All right, now let’s review the accounting equation. It is known that the accounting equation shows the relationship among assets, liabilities and owner’s equity. The equation is the basic tool used by accountants when they prepare financial statements. It is very interesting, isn’t it?

M: Yes, it is. I find it is easy for us to explain a balance sheet according to the equation. You see, assets usually appear on the left-hand side of the accounting equation and liabilities and owner’s equity on the right-hand side of the accounting equation.

W: Liabilities and owner’s equity are the legal and economic claims against the assets. The two sides are always equal to each other, that is, the two sides must be kept in balance.

M: This is the reason that the statement of financial position is called a balance sheet.

Question: Which of the following statements is NOT correct? (D)

Long Conversations

Conversation 1 Entries of Financial Statements

Scripts & Answers

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W: Good morning, everyone. Today we are going to study how to classify the financial statements’ entries. There are some financial statements’ entries on the blackboard.

Please tell, where each entry would appear, in a balance sheet or in an income statement. If it is a balance sheet item, is it an asset, a liability, or owner’s equity? Er, now… who will come and have a try?

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M: Let me have a try. As far as I’m concerned, accounts payable, mortgage payable, notes payable can be classified as liabilities on the balance sheet.

W: Well done. Johnson. Come on!

M: I think, accounts receivable, interest receivable, cash, supplies and land must be

classified as assets and put on the left-hand side of the balance sheet. But I don’t know where buildings are? Do they belong to owner’s equity?

W: I don’t think so. Buildings are an item of assets, a sort of fixed asset, of course.

M: So is equipment. I’ve got it. Cash, supplies, equipment, buildings, and land are all

classified as items of assets. But what are the items of owner’s equity on the balance

sheet?

W: Retained earnings, I think. It is an item of owner’s equity. Capital stock, I think it is certainly an item of owner’s equity.

M: There are several items of revenue and expense. I think they are items in the income statement.

W: Absolutely right. Sales revenue, consulting revenue, advertising expenses, rent

expenses, salaries & wages expenses and utilities expenses are the items in the income statement. M: There are some other items in the income statement, for example, income tax expenses, interest revenue, operating income, income before taxes. And we can get net income

and earnings per share by computing all the elements in this statement.

W: Excellent. Thank you. Now let’s go to the next chapter. It is about the statement of cash flows.

Unit 5 Financial Instruments

Short Dialogs

Multiple Choice

Scripts & Answers

Dialog 1

M: I don’t know why the presentation of my check for payment is refused by the paying bank. W: Let me have a look. Oh, I see. Your check is written in lead pencil. It is not accepted by any bank. You should write it in ink.

M: I see. Thank you very much.

W: And your check has no signature by the writer. It is invalid, I think. It is a false check. Are you the named payee? Where did you get the check? You are kidding, aren’t you?

M: Don’t get mad, I’m kidding. I only want to know how much you’ve learnt about a check.

Question: What do you know about the check mentioned in the conversation? (C)

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Dialog 2

W: Did you hear about what happened to Mr. Williams last week?

M: Yes, I’ve heard it. Poor Williams. It is a great loss to him, anyway.

W: Absolutely. 5,000 dollars is not a small amount of money. He should not have issued an open check payable to bearer. Anyone who got it would have the right to present it for payment to the paying bank. It is not the paying bank’s duty to verify the payee’s legal identity.

M: He himself may be to blame for the loss.

Question: What happened to Mr. Williams? (A)

Dialog 3

W: Excuse me, Professor Chen. Could you tell me something about the special crossing? I don’t understand it.

M: No problem. The special crossing is the stamp of the name of the collecting bank on the face of a check, usually made by the collecting bank. The purpose is to inform the paying bank to credit the amount of the check only to the named bank’s account.

W: So it acts as an order to the paying bank in the service of clean collection of some financial instruments. Thanks, Professor Chen. I’ve got it now.

M: You are welcome.

Question: What will the paying bank do if there is a check with a special crossing on it? (B) For Reference

支票分普通支票（open check）和划线支票（crossed check）。（www.61k.com]普通支票可直接到付款行提示兑现。划线支票分为一般划线支票（general crossing）和特别划线支票（special crossing）。一般划线支票由持票人本人提示支票并请银行收款存入持票人的账户。特别划线支票是在平行线中写明具体代收银行的名称，表示该款项必须贷记到划线指定的银行账户。

clean collection 光票托收，指委托银行从国外付款人处收取支票或汇票款项的业务，因为只涉及金融票据的收款，不涉及运输单据的交付，因此称为光票托收。

Dialog 4

M: If a customer found his banker’s draft lost, what should he do?

W: He should report the loss to the drawer bank and the drawee bank as soon as possible. M: Will the draft be paid to the named payee after the loss is notified?

W: It depends. If the draft is presented for payment, the drawee bank will verify the identity of the holder. If he is entitled to get the payment, the draft will be paid.

Question: What will the drawee bank do after being informed of the loss of a draft? (C)

Long Conversations

Conversation 1 Bills Discounting

Scripts & Answers

W: Bank of China. May I help you?

M: Yes. I’d like to get some information about bill discounting. Could you please do me a favor?

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W: No problem, sir. We offer the service of discounting bills if they are satisfied with the rules. Would you please tell me the type of your bill?

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M: It is very kind of you, Madam. My bill is a usance draft payable at 90 days after sight for RMB 6,000 yuan. It has been accepted by the drawee and his bank. Originally I didn’t think we’d have to discount it, but I need cash at the moment because of the shortage of working capital. You know the financial crisis now. Can I discount it with your bank?

W: Well, your bill is a banker’s acceptance according to what you say. We can discount such bills at a prime discount rate if the accepting bank has a sound credit standing. Could you please

present your bill now? I think I’d better have a look and make certain of the information of the bill and the accepting bank.

M: OK, here you are.

W: Oh, yes, it is a usance draft. The drawee is a joint-venture company in Guangzhou and the acceptance is made on July 21, 2009. Well, payable at 90 days after sight, so the expiry date is October 19, 2009. The presentation for payment of the acceptance will be made in 43 days from now. The drawee’s bank is Bank of China. All right, sir, I think it can be discounted without recourse. The credit standing of the accepting bank and the creditworthiness of the drawee are beyond question.

M: Wonderful. Much thanks, Madam. What is the discount rate?

W: The current discount rate is 8% per annum.

M: 8% per annum. How much can I get for the discounting?

W: Let me see. Well, 6,000 times (8% over 360) times 43, we can get 57.33 yuan. That is the amount you should pay to our bank for the service. And the amount you can get is

5,942.67 yuan.

M: Very good. Can I get the money now?

W: Yeah, of course. Please show me your account number and your ID card or passport. The money will be credited to your account right away.

Lecture 1 Banker’s Acceptance

Scripts & Answers

Hello, my boys and girls. Today we’ll study banker’s acceptance.

Banker’s acceptance is a very old form of commercial credit. Through its acceptance, a bank adds its good reputation and creditworthiness to bills, thereby making the bills much more reliable and marketable than it would otherwise be. The mechanics of the operation typically work as follows: Suppose that an American exporter sells wheat to a German importer. The terms of the sales contract stipulate that the German importer will pay for the wheat 90 days after the shipment has been effected and both the importer and his bank should make an acceptance when the draft and required shipping documents are presented. For a variety of reasons, however, the American firm may want its money now, and not want to wait for the 90 days. If so, he may draw a usance draft payable 90 days after sight on the importer’s bank, requiring the bank to pay a stipulated sum of money to the holder of the draft at the 90th days after the sight of the draft. Along with the draft, the American exporter will send the appropriate documents showing that the wheat has actually been shipped. When the bank receives the draft, together with all the documents, it’ll stamp the word “accepted” across the face of the draft. Now the accepted draft is called the banker’s

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acceptance. By accepting the draft, the bank has given its unconditional guarantee to the payment of the draft when it falls due. The draft now becomes a negotiable and marketable instrument. It is returned to the American exporter. He will then sell it to some investor through a regular dealer who trades in banker’s acceptance or discount it directly with a commercial bank at the current discount rate. In this way he can get payment immediately, usually on a non-recourse basis.

Unit6 这一单元只能找到这些了

Passage1

In the foreign exchange market, exchange rates are quoted for the selling and buying of foreign exchange. These rates are normally applied to the wholesale level where substantially large transactions take place. Commercial banks, merchant banks, corporations, particularly those of multinationals, and major government institutions are the principal participants in such large transactions.

Spot rates are rates quoted for spot transaction for foreign exchange. Spot transactions require delivery of the exchange involved within two business days. The rates are normally determined by the supply of the demand for and the continuously needed foreign currencies. When the domestic currency is not directly traded with another currency in the foreign exchange market, it requires a third country's currency as a base to determine the common relationship. The rate determined in terms of a third currency is called “cross rate”. For example, if a Chinese merchant wants to know the exchange rate between the Philippines Peso and RMB but cannot find the direct currencies, the merchant has to work it out by using the US dollar as a common base.

Passage2

The overwhelming majority of international payments are made through the media of foreign exchange traded in foreign exchange markets. The foreign exchange market is not an organized market in the same sense as a stock exchange or commodity exchange. In other words, there is no single, physical place where purchases and sales are executed. While markets are organized in various ways in different countries of the world, most foreign exchange transactions are simple arranged by two parties and executed by telephone or telex. The most important dealers in foreign exchange transactions are large commercial banks, which maintain foreign exchange “dealing rooms” and execute foreign exchange transactions between themselves or on behalf of their corporate customers. The foreign exchange market is made of two sections: the spot market for spot transactions and the forward market for forward transactions.

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The method of quoting the prices or rates of exchange for different currencies takes one of two forms, the direct quotation method and the indirect quotation method. Under the direct quotation, the rates are quoted in terms of a variable number of home currency per fixed foreign currency unit, and China adopts this method. Under the indirect quotation method, the rates are quoted in terms of a variable number of foreign currency units to the fixed unit of home currency, the exchange market in London practices this method.

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Unit 7

Short Dialogues

Multiple Choice

Scripts & Answers

Dialog 1

W: Excuse me, would you please tell me the current exchange rate of RMB to the USD? I want to buy some US dollars for RMB yuan.

M: No problem. The current exchange rate is 673 yuan for 100 US dollars. How much USD are you going to buy?

M: 10,000 US dollars.

W: In cash?

M: No. I have had a RMB current account and a USD current account with your bank. Here are the passbooks. Please credit the dollars to my USD account. I’ll transfer the money to my account with Citibank in New York. I’ll make the fund transfer by myself through e-banking.

Question: How much RMB yuan would be paid for 10,000 US dollars? (A)

Dialog 2

W: Morning, sir! What can I do for you?

M: Morning, Madam! I’ll receive a great amount of US dollars in 35 days. I think there would be exchange risk because of the depreciation of the US dollar. Someone advised me to make a forward transaction with a bank. Would you please give me a suggestion about that?

W: You are welcome, sir. Have a seat, please. I’ll send for our manager to talk it over with you.

M: Thank you, Madam.

Question: What will the man do in order to avoid the exchange risk? (C)

Dialog 3

W: Hi, what is the financial news on China Daily? There is no good news these days because of the financial crisis, I’m afraid.

M: There is a piece of news about our foreign exchange reserve but I don’t know if it is good or not.

W: Foreign exchange reserve? It usually increased, I believe.

M: Maybe you are right. The People’s Bank of China said Tuesday that our country’s foreign exchange reserve increased by $417.8 billion in 2008, $44.1 billion less than in 2007.

W: Yeah, I’ve read that news. The reserve growth slowed over the months last year. The total reserve was up 27.34 percent over 2007, the lowest rate since 2001.

M: Some analysts said that the fall in the growth rate is the result of a

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shrinking trade surplus and a possible slowdown in the inflow of “hot

money”, and the flow of hot money began to dry up for some reason.

Question: Which of the following is not the cause of the fall in our foreign exchange reserve growth? (D)

Dialog 4

W: Professor, what do you think of the opinion that China should depreciate the yuan?

M: As far as I’m concerned, letting the yuan depreciate is a good option since inflation is no longer a threat while the dollar starts a rising cycle. The

dollar is unlikely to depreciate against Western currencies and even major Asian currencies. If the yuan does not depreciate China’s exports will take a big hit.

W: Yeah, some experts have the same opinion as yours. They said that a minor change in the value of the yuan will not help exporters much. China should set the yuan at 7.5 to the dollar, up from the current 6.8 to the dollar, to

greatly boost exports.

M: I agree.

Question: What is the professor’s opinion about the RMB yuan? (A)

Long Conversations

Conversation 1 Buy RMB Against USD

Scripts & Answers

W: Hello, sir. Is there anything I can do for you?

M: Yes, I come to buy some RMB yuan for US dollars. I will stay in Shanghai for several

weeks.

W: You are welcome. How much RMB do you want?

M: I need at least 3,000 yuan.

W: All right. This is an exchange memo. Please fill in your name and the amount you want.

M: OK. By the way, what’s the spot rate of the US dollar against the yuan? W: 6.5639 to the dollar.

M: Oh, my God. The rate is declining greatly. I’d better exchange more RMB this time.

Maybe I’ll buy less next week. 5,000 yuan, please. How much dollar will be paid for 5,000 yuan?

W: In notes or just debit to your USD account?

M: Is there any difference?

W: The rate is a bit lower in notes. That is 6.5225 for the dollar notes.

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M: All right. I only have cash with me.

W: OK. 766.57 dollars, please.

M: 766.57 dollars. Here is 800 dollars. I’m sorry I don’t have any small change with me.

W: It doesn’t matter. I have the small change for you. Er… sir, would you please show me

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your passport?

M: Yes, here it is.

W: Well, sir, everything is OK. Now, Here is your change of 33 dollars and 43 cents, your

passport, the exchange memo, and the amount of 5,000 yuan. The notes are of the denomination of 100 yuan. Please check them.

M: Thank you. Oh, exchange memo? Shall I keep it for later use?

W: Yes, please. If you have leftover RMB when you leave China you may change it into the

US dollars by submitting the exchange memo.

M: Thank you for the information. I’ll keep it safe. Sorry to have bothered you so much.

W: You are welcome. See you.

M: See you.

Lectures

Lecture 1 Foreign Exchange Dealings with a Bank

Scripts & Answers

Customer Bank’s Dealing Department

Customer’s Confirmation Bank’s Confirmation

Accounting Entries Payment Instruction File Copies

Bank’s Operations Department

Trading Ticket

Ladies and gentlemen, do you know how to make a foreign exchange transaction? Let’s

look at the screen. OK, here is the flow chart of foreign exchange transactions. A typical foreign

exchange transaction begins with a customer, which may be an individual, a company, or

another bank. The customer enters into the trade with the bank’s dealing department. The bank’s

dealing department transacts the foreign exchange with another bank’s dealing department. The

bank confirms the transaction with the customer, usually by phone, and the customer approves

the confirmation. A trading ticket, showing the details of the transaction—quantity of which

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currency at the transacted price and maturity of any forward rate agreement—is forwarded by

the dealing department to the bank’s operations department, the so-called back room, where

appropriate accounting entries, payment instructions, and file copies are recorded. Here is an example of a spot transaction:

Assume that on Wednesday, January 10, the XYZ Company, a US manufacturer, must

make a payment for tools ordered from Germany. The invoice shows that the payment due is

EUR50,000. The transaction may involve three steps. First, XYZ Company calls the foreign

exchange department of its bank and requests the current exchange rate for purchasing EUR50,000. Second, the bank tells XYZ Company that the current spot rate for the euro

against the US dollar is 1.4374, i.e., 100 euros for 143.74 US dollars. If XYZ Company agrees

to buy 50,000 euros at this rate, the dealer of the bank enters the “fill” or the price at which the

order is filled on his trading sheet. The confirmation is generated later by the operations room

of the bank, and the parties have committed to deliver the respective currencies. The market

operates on a good-faith basis, i.e., because transactions are entered by phone or electronic

communication with written confirmations and payments to follow, parties rely on each other

to make payments or delivery. Therefore, the bank will sell 50,000 euros to XYZ Company

in exchange for 71,870 US dollars. The transaction is valued for two business days later on

Friday, January 12. You know it is a spot transaction and the exchange rate specified is good

for two business days. Third, on Friday, January 12, the bank will deliver 50,000 euros to

XYZ Company’s supplier in Germany and XYZ Company will deliver 71,870 US dollars to

the bank.

The procedure for a foreign exchange transaction:

1. The foreign exchange transaction begins with a customer who enters into the trade with

the bank’s dealing department.

2. The bank’s dealing department transacts the foreign exchange with another bank’s dealing department.

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3. The bank confirms the transaction with the customer, usually by phone.

4. The customer approves the confirmation.

5. A trading ticket showing the details of the transaction is forwarded by the dealing department to the bank’s operations department, the so-called back room.

6. The operations department makes record of the appropriate accounting entries, payment

instructions, and file copies.

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