2012-2013学年二学期国际金融期末考试试卷(B卷)

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…………………………密………………………………封………………………………线……………………………………… ｛天津商业大学｝ 《｛国际金融双语｝》｛单元测验｝试卷(B 卷)

题目部分，（卷面共有17题，

100分，各大题标有题量和总分） 一、名词解释（5小题，共20分） 1、At-the-money (ATM) 2、Balance of payments (BOP) 3、Absolute purchasing power parity 4、Covered interest arbitrage (CIA) 5、Eurocurrency 二、简答题（7小题，共42分）

1、Fixed exchange rate regimes are sometimes implemented through a currency board (Hong Kong) or dollarization (Ecuador). What is the difference between the two approaches?

2、Where in the balance of payments accounts do the flows of “laundered” money by drug dealers and international terrorist organizations flow?

3、Define and give an example of each of the following quotes: A. Bid quote. B. Ask quote.

4、What is the relationship between interest rate parity and forward rates?

5、Why would anyone write an option, knowing that the gain from receiving the option premium is fixed but the loss if the underlying price goes in the wrong direction can be extremely large?

6、Explain what is meant by the term Impossible Trinity and why it is true.

7、A British firm has a subsidiary in the U.S., and a U.S. firm, known to the British firm, has a subsidiary in Britain. Define and then provide an example for each of the following management techniques for reducing the firm's operating cash flows. The following are techniques to consider: (a) matching currency cash flows (b) risk-sharing agreements (c) back-to-back or parallel loans

三、论述题（2小题，共20分） 1、Define the terms covered interest arbitrage and uncovered interest arbitrage . What is the difference between these two transactions? 2、Explain how the asset market approach can be used to forecast future spot exchange rates. How does the asset market approach differ from the BOP approach to forecasting? 四、计算题（3小题，共18分） 1、 The following exchange rates are available to you. (You can buy or sell at

the stated rates.)

Mt. Fuji Bank ￥92.00/$

Mt. Rushmore Bank SF1.02/$

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