财经英语复习考点翻译

财经英语复习考点翻译

整理人：经济141李颖新、金融142蓝婉允

一、EXERCISE5

选词填空

Unite 1

1.Now I’m clear about how the bank deals with the saver’s (deposited) money.

现在我很清楚知道银行如何处理储蓄者的存款。

2.Our company (acquired) that piece of land by purchase.

我们公司通过收购购买了这片土地。

3.The court established that he has a (claim) to the property of his stepfather.

法院确定他对继承人的财产提出索赔。

4.The uncovered foreign exchange position can be very (risky) because of the fluctuation of the exchange rates.

由于汇率波动，未被发现的外汇头寸可能是非常危险的。

5.It was the high (yield) that encouraged Mr. Smith to buy that bond.

这种债券是高收益的，鼓励史密斯先生购买。

6.Theory is based on practice and (in turn) serves practice.

理论来源于实践，反过来又服务于实践

7.In the foreign exchange market, you have (a variety of) choices to cover the exchange risks.

在外汇市场中，您有多种选择来应对汇率风险。

8.Adam Smith’s concept of “invisible hand “can be (applied to) modern economy.

亚当·史密斯的“看不见的手”的概念可以应用于现代经济。

9.The primary function of money is to (facilitate) exchange.

货币的主要功能是促进交换。

10.(A range of) more specialized banks, together with the Bank of England, make up the structure of British banking.

一系列更专业的银行与英格兰银行一起构成英国银行业的结构。

Unite 2

1.U.S. Treasury bills (are central to) money market transactions.

国库券是货币市场交易的核心。

2.Money and banks play (dominant) roles in our economic life.

货币和银行在我们的经济生活中发挥主导作用。

3.Banks may borrow temporary reserves from the FRS as a (alternative) to selling secondary reserves.

银行可以从FRS中借用临时储备作为销售次级储备的替代方案。

4.The money market (is characterized by) its physical invisibility.

货币市场的特点是它的物理不可见性。

5.The financial market (consist of) foreign exchange markets, money markets, bond markets and equity markets.

金融市场（包括）外汇市场，货币市场，债券市场和股票市场。

6.Money market instruments are financial claims of low default risk, short term to maturity and high marketability. Now, let’s discuss these characteristics (respectively).

货币市场工具是低违约风险，短期到期和高市场竞争力的金融债权。现在，让我们分别讨论这些特性。

7.In the money market, the purpose of a dealer is (distinct from) that of a broker.

在货币市场上，交易商的目的不同于经纪人的目的

8.Financial futures markets are important (in that)they provide a way for financial market participants to protect themselves against changes in interest rates.

金融期货市场很重要，因为它们为金融市场参与者提供一种保护自己免受利率变化的方法。

9.Many finance companies in our country (specialize in) consumer finance, particularly in small loans.

我国许多金融公司专门从事金融消费，特别是小额贷款。

10. OTC trading of securities, over-the-country trading for short,（is conducted)by telephone ,telex, and computer links.

证券的场外交易，简称国内交易，通过电话，电传和计算机进行连接。

Unite 3

1.A documentary draft is a draft accompanied by documents of title to goods .The draft ( is drawn up ) by the exporter who also collects other necessary documents.

跟单汇票是一种附有代表货物所有权的汇票，该汇票由出口商收集其他必要文件并起草。

2.The shipping documents submitted may be rejected for not (conforming to) the the terms of the credit.

提交的装运单据可能因不符合信用证条款而被拒收。

3.The sales contract (specifies) container shipment for the goods.

销售合同指定集装箱装运货物。

4.Those goods have to be inspected (prior to ) shipment.

这些货物在装运前必须检查。

5.Under an open account arrangement, Mr. Wang got his funds (tied up ) in the transaction with a foreign company.

在一个开放的帐户安排下，王先生把他的资金与一家外国公司的交易捆绑在一起。

6.Generally speaking, a factor (will substitute) its accounting services (for ) the accounting work of his clients.

一般来说，一位赊账经纪商会以其会计服务取代其客户的会计工作。

7.The economist (sets out ) his ideas clearly in his article that the central bank should carry out a loose monetary policy .

经济学家在他的文章中清楚地阐述了他的想法，即中央银行应该执行宽松的货币政策。

8.The fed (imposes)reserve requirement (on) banks so that they keep part of their deposits on reserve, either in the bank or with the Federal Reserve.

美联储规定了银行的存款准备金率，以便他们将部分存款准备金保留在银行或与美联储。

9.A letter of credit always indicates the exact documents which the beneficiary must （submit) . 信用证要求受益人需要提交严格符合的单据

10.Fortunately our company (has obtained) a loan for the project from the local government.

幸运的是，我们公司从当地政府获得了项目贷款。

Unite 4

1.Because top managers are important (assets) to a firm, the corporation can purchase executive insurance .

由于高层管理人员是一个公司的重要资产，公司可以购买执行保险

2.“All risks “type coverage (protects) you ( against ) all the risks or perils that may cause loss to the covered property.

"一切险"的类型覆盖保护你免收可能会导致覆盖的财产损失的所有的风险或危险。

3.Insurance (claims) statistics reveal that drivers under 30 are involved in far more accidents than are older drivers.

保险理赔统计显示，30岁以下的司机涉及的事故比30岁以上的司机多得多。

4.The marine insurance(is associated with) the risks such as fire, storm ,collision, pilferage, leakage and explosions , etc.

海上保险与火灾，风暴，碰撞，偷窃，泄漏和爆炸等风险有关。

5.Many (health) insurance policies list the dollar value for specific medical procedures.

许多健康保险政策列出了具体医疗程序的价值美元。

6.Insurance in FOB and CIF contracts should be arranged between the buyer and seller, so that there will be no misunderstanding (with respect to)（关于）the responsibility of both parties.

在离岸价和到岸价的保险合同应安排在买方和卖方之间，以避免对双方之间的责任产生误解。

7.Either you or your customer will be (liable) for the goods at any one point in the journey.

无论是你或你的客户将为旅途中任一地点的货物负责。

8.German insurance company (is subject to) regulation by the Federal Supervisory Office concerning accounting and investment practices.

德国保险公司受联邦监管局关于会计和投资实务的监管

9.(In accordance with) the Bern Union, maximum credit terms have been recommended for many terms such as heavy capital goods, light capital goods ,and consumer durable goods .

按照伯尔尼联盟,建议对诸如重型资本货物，轻资本货物和耐用消费品等许多货物采用最大信用条款

10.There is (a range of) standard types of coverage.

这里有一系列的标准类型的覆盖范围

Unite 5

1.The loan was made at 6 percent ( interest ) .

贷款的利率是6%

2.Of course , he will ( be subjected to ) loss when the stock price goes down .

当然，当股价下跌时，他将受到损失

3.At what rates can the government securities ( convert into ) dollars ?

政府证券转换成美元的利率是？

4.The shares are ( quoted ) on the Stock Exchange at page 80 .

股票在证券交易所挂牌的第80页

5.These securities serve as ( substitutes ) for cash in asset holdings of individuals .

这些证券作为替代个人持有的现金资产

6.You have to ( take a risk of ) buying lottery tickets .

你有够买彩票的风险

7.Children should (be protected against ) any forms of ill-treatment .

应保护儿童免受任何形式的虐待

8.Treasury bills are usually marketed ( at a discount )

国债通常打折销售

9.We must cut down expenses or we’ll be getting into ( debt ).

我们必须削减开支，否则我们将陷入债务中。

10.( In an aggregative sense ) ,the interest rate of long-term government bonds is higher than short-term bills.

综合来看，长期国债的利率高于短期票据。

Unite 6

1.An (internal ) auditor is a member of staff who audits the accounts of the company he works for .

内部审计员工的工作是审计公司的账户

2.If you haven’t got cash , a credit card ( will serve the purpose ) .

如果你没有现金，信用卡可以帮你支付（达到目的）

3.I am writing ( on behalf of ) the shareholders .

我代表股东写信

4.The customs (have imposed)（强收）a 10% tax increase on luxury items .

海关对奢侈品征收10％的增值税率

5.After going through the books , they found that only 60% of the records ( meet the standards ).

通过的这些书，他们发现只有60％的记录符合标准

6.Once you have become a member of the staff, you must ( conform to ) the company’s regulations .

一旦你已经成为员工的一员,你就必须符合公司的规定

7.Accounting ( procedure ) refers to the orderly steps taken by accounting staff in keeping proper financial records .

会计程序是指会计人员在保持适当的财务记录中所采取的有序步骤

8.The ( validity ) of this ticket has expired you cannot use it any more .

这张票有效期已过期，你不能再使用它

9.Their business interests ( diverged from ) their aims ,and finally they had to sell the company. 他们的商业利益与他们的目标分歧，最后他们不得不出售公司。

10.The price ( went beyond ) our means ; we simply couldn’t afford .

价格超出了我们的财富，我们根本买不起。

二、EXERCISE6

同义词选择

Unite 1

1、exist , existence

(1) .Banking ( existed ) from very early ages .

银行业从很早就开始存在

(2) .To my surprise , the company that was said to go bankrupt is still in active ( existence )

令我吃惊的是，据说破产的公司仍然存在

2、convert , conversion , convertible

(1) .Currency and checking accounts do not need to be ( converted ) to anything else to be used as a medium of exchange .They are already the medium of exchange .

货币和支票账户不需要转换成其他任何用作交换媒介的东西，它们已经是交换媒介。

(2) .Is the currency of that country ( convertible ).

该国货币是否可兑换

(3) .The dollar’s ( conversion ) into Renminbi is accessible at any bank in our city .

美元可在我们城市的任何银行兑换为人民币

3、liquid , liquidity , illiquid

(1) .Is there anything more ( liquid ) than cash ?

有什么比现金更具有流动性的东西吗？

(2) .The term ( liquidity )refers to the ease and convenience with which an asset can be converted to a medium of exchange .

流动性一词是指将资产转换为交换媒介的容易性和方便性。

(3) .A long-term security usually offers a relatively higher yield because it is relatively more ( illiquid ) .

长期债券通常提供了一个相对更高的收益率,因为它是相对更多的非流动性。

4、diversify , diversification

(1)One of the most important concepts of portfolio management is （diversification ).

投资组合管理的一个最重要的概念是多样化。

（2）Almost all investors hold a portfolio that is ( diversified ) in some way .

几乎所有投资者都持有一种以某种方式多元化的投资组合。

(3) .Because of the competition , banks have to ( diversify )

由于竞争，银行必须实行多元化

Unite 2

1.signal , sign

(1) .All the ( signs ) show that business will get better .

所有的迹象表明，业务变得更好。

(2) .The President’s remark turned out to be the ( signal ) for the stock market crash .

总统的言论证明这是股市崩盘的信号。

2、continuous , continual

(1) .Running a machine needs a ( continuous ) supply of power .

运行机器需要持续供电。

（2) .His ( continual ) borrowing money from his colleagues made him such a bore .

他不断向他的同事借钱使他成为大家厌烦的人。

3、involve , include

(1) .We were charged $1500 for the imported goods , with freight ( included ) .

我们收取了1500美元的进口货物，其中就包括了运费

(2) .In order to practice tax avoidance , the company had a tax specialist come in and get ( involved ) in the company’s tax planning .

为了实行避税，公司有一个税务专家进入并参与公司的税务规划。

4、transact , conduct

(1) .Small as his company is , Mr.White ( transacts ) business with stores all over the country .

他的公司如此小，然而白先生却与全国各地的商店交易业务。

(2) .The investigation ( was conducted ) smoothly and the company’s proved to be a reliable partner .

调查进行顺利，这个公司被证明是一个可靠的合作伙伴。

Unite 3

1、mature

(1) .The rice is （maturing）fast in the favorable weather .（成熟）

稻谷在有利的天气可以快速成熟

(2) .The draft drawn on our branch is to ( mature ) in 90 days . （到期）

我们的分公司的汇票在90天内到期

2、accept

(1) .Adam Smith’s concept of the “invisible hand “ is widely ( accepted ) even today . (接受）

亚当·斯密的“看不见的手”的概念被广泛接受，即使在今天

(2) .When a draft is ( accepted ) , the accepting bank has it dated and stamped “ accepted”.(承兑）当汇票被承兑时，承兑银行已注明日期并加盖“承兑”

3、negotiable

(1) .The manager said that the company’s claim for compensation is not (negotiable). (可商量的）经理说，公司的索赔要求没有商量的余地

(2) .Don’t you think an insurance policy is a ( negotiable ）instrument ? (可流通/转让的）

你不认为保险单是可流通的工具吗？

4、instrument

(1) .It is medical care and medical ( instruments ) that the local people badly needed . ( 器械）这是医疗保健和当地人民急需的医疗器械。

(2) .The negotiable certificate of deposit is an important trading ( instrument ) in the money market. ( 票据/ 工具）

可转让存单是货币市场上的重要交易工具

5、Title

(1) .The ( title ) of the new play is “ Financier “ ( 名称）

新游戏的标题名称是“金融家”

(2) .A bill of lading is a document of ( title ).( 所有权）

提货单是具有所有权的文件

6、honor

(1) .Albert Einstein is a man ( honored ) by the whole world. ( 尊敬）

阿尔伯特爱因斯坦是一个被全世界尊敬的人

(2) .You must have enough money to ( honor ) your checks before writing them . ( 兑付）

在写支票之前，你必须有足够的钱来兑现你的支票

7、draft

(1)The director prepared three different (drafts) of his speech before he had it in final form.(草稿）导演在他最后的演讲之前准备了三种不同的演讲稿

(2) .The ( draft ) drawn on Bank of China was dishonored because of some discrepancies in documentation .（汇票）

因为文件有差异，中国银行的汇票被拒付

8、due

(1) .The plane from New York is ( due ) at 5:00 this afternoon .( 预定应到的）

从纽约起飞的飞机将于今天下午5:00到达

(2) .Because of the bank’s acceptance of the time draft , the importer can delay the payment until it is ( due ) .( 到期的）

由于银行承兑远期汇票，进口商可以延迟付款，直到到期为止

Unite 4

1、insure , ensure , assure

(1) .He could resign if he wanted and ( assure ) himself of $ 156 000 a year in pension .

如果他想并能保证自己有每年156000美元的养老金，他可以辞职。

(2) .Having the general knowledge of insurance may ( ensure ) you against risks .

学习保险的一般知识可以确保您免受风险

(3) .My house is ( insured ) against fire .

我的房子有火灾险

2、interest , benefit , beneficiary

(1) .If the insured dies during the term of policy , the designated ( beneficiary ) receives the face value of the policy .

如果被保险人在保单期间死亡，指定受益人将收到保单的面值

(2) .In the life insurance industry , high and volatile ( interest ) rates during the late 1970s made the savings component of whole life policies unattractive to policyholders .

在人寿保险行业，20世纪70年代后期高利率和波动的利率使得整个生活政策的储蓄成分对保单持有人没有吸引力

(3)Whole life insurance guarantees a ( benefit ) payment whenever death of the insured occurs . 当被保险人死亡时，终身保险保障给付保险金。

3、regulate , regulation , regular

(1) .The diversity of rules and ( regulations ) makes it somewhat difficult for firms to operate across national borders in Europe .

规则和法规的多样性使公司在欧洲跨国界运作有些困难

(2) .The Ministry of Finance ( regulates ) Japanese insurance companies , imposing limits on common stock , real estate ,etc. .

财政部监管日本保险公司，对普通股，房地产等实行限制。

(3) .Mr. Smith is a( regular )customer of the People’s Insurance Company of China , which means he often comes here to purchase insurance .

史密斯先生是中国人民保险公司的常客，这意味着他经常来这里购买保险。

4 .danger . risk . hazard . damage

(1) .Fire insurance is also a traditional form of property insurance , covering ( hazards ) of fire and lightning .

火险也是一种传统形式的财产保险，涵盖火灾和闪电的危险

(2) .Provisions covering ( damage ) to the insured’s automobile and medical payments for the insured are common features .

规定涵盖损害被保险人的汽车和被保险人的医疗支付被保险人具有共同性

(3) .Most people face ( risks ) of loss or damage to their real and /or personal property .

大多数人面临着他们的不动产和个人财产风险的损失或损害

(4) It’s a great ( danger ) that you choose the wrong insurance policies .

这是一个很大的危险，你选择错误的保险单

5、property . goods effects

(1) .The city is growing and the real ( property ) in the center is becoming more valuable .

城市增长和房地产中心正变得更有价值

(2) .All of the shop’s ( goods ) are protected by insurance .

商店的所有商品受到保险的保护

(3) .Before moving , the family sold as many of their ( effects ) as possible .

搬家前，家庭出售尽可能多的他们的动产

Unite 5

1、interest . Interests

(1) .( Interest ) has to be paid on the national debt by taxpayers .

纳税人的国家债务必须支付利息

(2) .He has financial ( interests ) in many companies .

他在许多公司都有财务上的利益

2、finance . financial

(1) .The ( financial ) situation in our country has greatly improved .

我国的财政状况大大改善

(2) .Additional ( finance ) may be necessary to meet expanding needs .

额外的资金可能是必要的，以满足扩大的需求

3、money , moneys ( monies ) , monetary

(1) .He has lost a lot of ( money ) over that stock

他的股票已经失去了很多钱

(2) .The ( monetary ) system of certain countries used to be built on gold .

某些国家的货币体系是建立在黄金之上的

(3) .The ( moneys / monies ) placed in the lawyer’s trust couldn’t be given to the young man until he had reached the age of 18 .

律师信托的款项不能给予年轻人，直到他年满18岁

4、secure , security , securities

(1) .These railroad (securities) can be sold for $ 5000.

这些铁路证券可以售价5000美元。

(2) .The insurance policy gave the widow (security) .

保险政策给了寡妇担保

(3) .The bank required collateral to (secure) the loan agreement .

银行需要抵押品以确保贷款协议

5、market , marketable

(1) .The stockholders go to the stock (market) to buy and sell shares .

股东在股市上买卖股票

(2) .The firm (markets) many type of securities.

这个公司营销许多类型的证券

(3) .The (marketable / market) price of the bill is going up .

票据的市场价格正在上涨

Unite 6

1、account , accountable , accountancy , accountant , accounting

(1) .The ( accounts ) show that we have spent more than we received .

帐户显示我们花费比我们收入更多

(2) .An ( accountant ) must be held ( accountable ）for his action .

会计师必须对他的行为负责

(3) . （Accounting ) is a basic and vital element in every modern business.

会计是每个现代企业的基本和重要的元素

(4) .（Accountancy ) is sometimes used as an alternative expression , especially for the practice of accounting .

会计是也有另一种说法，即会计实践。

2、respond , response , responsibility , responsible ,responsive

(1) .She wasn’t very ( responsive ) to our request for money .

她对我们的付款请求不是很敏感

(2) .We got very little ( response ) to our complaints .

我们公司收到的对我们的投诉反应很少

(3) .Our Finance Manager is directly ( responsible ) to the Managing Director .

我们的财务经理直接对总经理负责

(4) .Have you (responded ) to the letter sent by their Accounts Department about repayment ?

你有没有回应他们的会计部门关于还款的信？

(5) .The management accepts no ( responsibility ) for loss of goods in storage .

管理层对仓库中的货物损失不承担任何责任

3、employ , employee , employer , employment , unemployment

(1) . ( Employees ) of the company are eligible to join a profit-sharing scheme .

公司员工有资格加入利润分享计划

(2) .Are you in full-time or part-time ( employment )?

你是全职还是兼职工作？

(3)He is not gainfully ( employed ) ; that is to say , he has no regular paid work .

他是没有报酬的工作；也就是说，他没有固定收入的工作

(4)Here the word “contribution” means the money paid by an (employer ) towards a worker’s pension .

这里“捐款”一词是指雇主支付给工人养恤金的钱。

(5) .It is a pity that Sam has lost his job , but I wonder if he can apply for ( unemployment ) compensation.

很可惜，山姆已经失去了工作，但我不知道他是否可以申请失业补偿。

4、part , partial , partly , partner , party

(1) .It was really a great loss ,but he got ( partial ) compensation for the damage to his house ,

这真是一个巨大的损失，但他得到了部分赔偿他的房子的损坏

(2) .I am sorry to say that only ( part ) of the expenses will be refunded .

我很抱歉地说,只有部分的费用可以被退还

(3) .This company is not a ( party ）to the agreement .

该公司不是该协议的当事方

(4) .A sleeping ( partner ) is the one who has a share in a business but does not work in it .

不参与经营的合伙人是在商业中有份额但不在其中工作的人

(5）These shares are ( partly ) paid up shares , because the shareholders have not paid the full face value .

这些股份只有部分缴足股份，因为股东没有支付全额面值

5、client , customer

(1) . Our department deals with ( customers ) and their complaints and orders .

我们的部门负责处理客户们的投诉和命令

(2) .Though not a store , a bank also tries to give its ( clients ）complete satisfaction .

虽然不是一家商店，一家银行也试图给它的客户完全满意

(3）Mr. Nixon is a lawyer with many ( clients ).

尼克松先生是一名有许多客户的律师

(4) .The new shop across the road has taken away some of my best ( customers )

路上的新店铺已经带走了我最好的客户

6、include , embody

(1) .The new model ( embodies ) the latest refinements .

新模型体现了最新的改进

(2) .We have ( included ) the cost of repair in your bill .

我们已经在您的帐单中包括修理的费用

(3) .He will be in London from April up to and ( including ) August 5 .

他将于4月-8月5日都呆在伦敦

(4) .Our laws ( embody ) our way of life .

我们的法律体现了我们的生活方式

EXERCISE 9

翻译

Unite 1

1.没有金融中介行为，金融中介机构就无法存在。

Financial intermediaries could not exist without intermediation.

2.所有的存款人在同一时间提取资金是极不可能的。

It is highly improbable that all depositors will withdraw funds at the same time.

3.金融机构促使资金从贷款人向借款人更为有效地流动。

Financial intermediaries facilitate a more efficient flow of funds from lenders to borrowers.

4.这种利率的降低可能对一个国家的经济增长率和发展极为有利。

This lowering of interest rates would be highly beneficial to a country’s rate of economic growth and development.

Unite 2

1.货币市场包括了一系列的市场，每个市场交易的是一种完全不同的金融工具。

The money market consists of a collection of markets, each trading a distinctly different financial instrument.

2.可以理解的是，交易人要以最高价卖出而以最低价买入。

It’s understandable that the traders will sell at the highest price and buy at the lowest.

3.在交易室里，电话铃声从来不响，打进的电话是由闪烁的灯光来现实的。

Phones never ring in these trading rooms. Instead, incoming calls are signaled by the blinking lights.

4.参与交易的双方指示联储银行从一位客户的银行账户上将资金划拨到另一方的银行账

户上。

The two parties involved in the transaction instruct the Federal Reserve to transfer funds from the account of one customer’s bank to the other party’s bank.

Unite3

1.汇票只不过是一种要求支付的命令。

The draft is simply an instrument that requests payment.

2.作为一种物权凭证，海运提单可以由出口商用作获得支付的手段。

As a document of title, a bill of lading can be used by the exporter as a means of obtaining payment.

3.即期汇票，顾名思义，是要求银行见票即付。

Sight drafts, as the name implies, require the bank to pay on demand.

4.作为一种融资工具，信用证对进.出口商都有利。

As a financial instrument, the letter of credit benefits both importers and exporters.

Unite4

1.通过买保险，投保人降低了承受潜在损失的风险。

By purchasing the insurance, the insured reduces exposure to potential losses.

2.在保险业中，信任极为重要，因为保单保护个人或企业免遭不利事件的影响。

In the insurance industry, confidence is very important because insurance policies protect individuals and businesses from effects of unfavorable events.

3.在大多数保险系统内，遭受损失的只是其中的一小部分。

In most insurance systems, only small percentages of those insured suffer losses.

4.尽管保单包括各种不同风险保险，但也具有某些共同的特征。

While the policies cover a wide variety of risks, they also share certain common features.

5.养老金是工作人员退休后应该得到的收入。

A pension is an income payable after a worker retires.

Unite 5

1.债务的定义包括联邦政府所有的有息债务。

The debt is defined to include all interest-bearing obligations of the federal government.

2.如果购买者想在未到期前将储蓄券变现，就要提供一份确定的货币兑现计划。

If the purchaser desires to convert a savings bond into cash prior to the maturity date, a fixed redemption schedule is provided.

3.在利率上升期间，这类长期政府债券的持有者可能要遭受巨大的资本损失。

In periods of rising interest rates, the holders of such long-term treasury bonds may suffer sizable capital loss.

4.对长期债券的法定上线不适用于短期库券。

The legal ceiling on long-term bonds does not apply to short-term issues.

5.短期国库券很明显都是“近似货币”，可以在市场上买卖。

Treasury bills are quite clearly “near monies” and they can be bought and sold on the market.

Unite 6

1．应纳税收入是必须支付税金的净额。

Taxable income is the net mount on which tax has to be paid.

2．你现在必须全付，但以后可能会退还部分开支。

You must pay in full now, but part of the expenses may be refunded in the future.

3．我们所做的一切都是符合安全标准的。

Everything we do conforms to the safety standards.

4．这些凭证已经到期。

The validity of these documents has expired.

5．财务会计必须遵守国家法律规定的规则。

Finical accounting must obey rules laid down by state laws.

EXERCISE 10

Unite 1

Passage 1

If we use money to buy an asset that pays interest, such as a government or corporate bond, we earn more money. But if we keep our money in $50 bills, we earn no interest on that asset. When the interest rate is very low, we don’t give up much by not buying an asset that pays interest. Thus, when interest rates are low, we may hold money as an asset. But when interest rates are high, we give up more by holding money. So we would want to hold less money as an asset. Therefore, the asset demand for money inversely relates to the interest rate. When interest rates rise, asset demand for money falls. And when interest rates fall, asset demand for money rises.

如果我们用现金来购买一种支付利息的资产，如某种政府债券或公司债券，我们可以赢得更多的现金。但是如果我们持有的是50美元的钞票，就不能在这笔资产上获取利息。如果利息非常低，即使不够买支付利息的资产我们也损失无几。所以利息低时我们就可能持有现金作为资产。但是如果利息高的话，我们持有现金就损失可观。因此，我们会持有较少的现金作为资产。因此，对于现金资产的需求与利率成反比。利率上升时，现金资产的需求下降。利率下降时，现金资产需求上升。

Passage 2

The Federal Reserve System functions as a banker’s bank. The Fed acts as a banker’s bank

because bank use the Federal Reserve Banks much like you use your local bank. A bank can have an account with the Fed and keep money on deposit in a Federal Reserve Bank. In addition, banks can borrow from the Fed. In fact, the Federal Reserve is sometimes called a lender of last resort. This means that banks can always borrow from the Fed if they need money to satisfy withdrawals by bank customers. This function reduces the threat of panics and runs on banks.

（美国）联邦储备系统的作用相当于银行的银行。这所以称之为银行的银行是因为各个银行都使用联储银行，就像你使用自己当地的银行那样。各银行可以字联储持有账户并在联储银行存有资金。而且，各个银行都可以从联储借款。事实上，联储有时被称为是最后的借款人。这就是说，如果需要满足银行客户的提款，各个银行总是可以从联储借款。这一功能降低了恐慌和挤兑对银行造成的威胁。

Unite 2

New York --- Technology shares drove the stock market sharply higher Wednesday, with the Standard & Poor’s 500 and Nasdaq composite indexes reaching record highs.

Blue-chips also rose strongly, with the Dow Jones industrial average 113.80 points higher in late trading, at 9158.26. The S&P 500 was up 17.24 points at a record 1220.81 and Nasdaq composite was up 37.39 points at 2158.37.

Advancing issues outnumbered declining ones by a 3-to-2 ratio on the New York Stock Exchange.

Mr. Kurlak, an analyst at Merrill Lynch &C0. , said the growth of the Internet would increase sales of computers and semiconductors.

He recommended buying Intel, which he predicted would reach 144 over the next 12 months. He also said the rate of decline in the average price of microprocessors was slowing.

“Internet commerce is quickly taking off, and most households and business will find they need to participate,” the analyst wrote in a report to clients.

纽约讯-----随着标准普尔公司500强和纳斯达克综合指数达到新高，技术股在周三推动股市飙升。

随着道琼斯工业平均指数在尾市上涨113.80点，达到9158.26点，蓝筹股同样强劲攀升。标准普尔500强上涨17.24点，创下1220.81点记录，纳斯达克综合指数上涨37.39点，达到2158.37点。纽约股市上涨股以3:2比例超过下跌股。

Merrill Lynch 公司的分析家kurlak先生说，因特网二等发展将会促进电脑和半导体的销售。

他推荐购买Inter股，据他估计Inter股在今后12个月期间会达到144次以上。他还说，微机平均价格的下跌正在缓慢下来。

“因特网商业正在飞速发展，大多数家庭和企业会发现他们需要加入，”这为分析家在给其客户的一份报告中如是说。

Unite 3

Passage 1

Banks also provide international collection services by acting as agents for drafts drawn by exporters and others obligated to make payment to them. In collecting international items, banks act only as agents. That is, they will advance all or a percentage of the pending collection, but they do not accept any liability if collection problems occur. The drawer must return any advances if drafts are not honored. Banks do not take title to drafts when they collect them. They make their profits in these transactions solely from collection fees.

银行还在开立汇票的出口商和应向出口商偿付的其他各方面充当代理，来提供国际托收服务。在进行国际项目托收时，银行只作为代理人行事。也就是说，他们会垫付全部或某一百分比的托收款项，但如果发生托收问题他们不承担任何责任。如果汇票遭到拒付，出票人必须退还垫款。银行在进行托收时并不对汇票享有所有权，它们只是从这些交易的托收手续费中获利。

International collections may be clean, that is, the collection is made without accompanying or attached documentation. Checks, traveler’s checks, and money orders are collected cleanly. Collections that involve documentation are more complicated and more common in international transactions. Examples of these of types of transactions are sight and time drafts generated by letters of credit.

国际托收可以是光票，即没有跟附的或附加的单证。支票、旅行支票和汇款单都是光票托收。跟单托收更为复杂且多用于国际交易中。例如，由信用证产生的即期和远期汇票就是跟单托收。

Passage 2

There has been an increased use of electronic transfer systems within and among major countries and financial center of the world. For example, the Society for World-wide Interbank Financial Telecommunications, an electronic message system, was established in the late 1970s as a cooperative whose more than 4000 members are the world’s leading banks. SWIFT transfers instructions for as many as 2 500 000 daily financial transactions at a cost of 29 1/2$ each. Although SWIFT does not directly transfer funds, it does provide a safe, rapid low-cost means of facilitating international funds flows. Given the computer innovations being applied to electronic funds transfers. SWIFT-like institutions will increase the productivity of international banking. It is expected that stockbrokers may soon be admitted to membership in SWIFT since banks are rapidly moving into the brokerage business.

在各个大国和金融中心内部以及它们相互之间，电子资金划拨系统的使用有了很大的增长。例如，环球银行金融电讯协会（SWIFT），一种电子信息系统，就是一个1970年代末成立的合作型组织，其4000多家成员包括全世界的各个大银行。SWIFT每天为多达250万笔的金融交易传输指令，每笔指令仅收费29.5美分。尽管SWIFT并不直接划拨资金，但它的确提供了一种安全.快速.低成本的便于国际资金流动的手段。如果电脑的革新应用于电子资金划拨，SWIFT类型的机构将使国际银行业的产出有所增长。不久股票经纪人即可望获准加入SWIFT，因为银行正在迅速地介入经纪人业务。

Unite 4

Page1

When you buy insurance, you enter into a written agreement with insurance company. This agreement is called a policy. The person who buys insurance is the policyholder. According to the agreement the insurance company promises to pay the policyholders if certain types of losses occur. The policy states exactly what losses the company will pay for. For this protection, the policyholder makes regular payments to the insurance company. Each payment is called a premium.

你买了保险就和保险公司签了书面协议。这种协议叫保险单。购买保险的人是投保人（保单持有人）。根据这个协议，保险公司承诺在某些损失发生时向保单持有人付款。保险单明确规定保险公司将为哪些损失付款。为了得到这种保障，投保人定期向保险公司缴费，每次所缴的钱款叫做保险费。

Page2

Property insurance provides protection against possible financial losses resulting from damages to the policyholder’s property. For example, a homeowner can buy insurance against losses resulting from fire and lightning, windstorm, explosion, riot, aircraft and vandalism(恶意破坏). Liability insurance protects against financial losses resulting from injures to other persons or damages to their property. Injuries or property damages resulting from an automobile accident are examples. Life insurance, of course protects against financial losses resulting from a person’s death. Health insurance protects against financial losses resulting from illness or accident.

财产保险为投保人因财产损失而造成的经济损失提供保障。比方说，私房屋主可以购买保险以防火灾、雷击、风暴、爆炸、骚乱、飞机以及恶意破坏所造成的损失。责任保险为因伤害他人或损坏他人财物而造成的财务损失提供保障。车祸所引起的伤残或财产损坏就是这种例子。人寿保险当然是对一个人的死亡所造成的财务损失所提供的保障。健康保险则为疾病或事故所引起的经济损失提供保障。

Unite 5

Debentures and unsecured notes can be discerned from other forms of debt finance in that these funds are sought from the public at large. In contrast other forms of debt finance need the company to approach individual lending institutions to obtain the funds. As with a public issue of shares, raising finance through a debenture or note issue requires the preparation of prospectus. Lenders will be advised about the term and conditions of the issue, the maturity date and interest rates. It is common for interest to be paid semi-annually, although some finance companies choose to pay quarterly.

债券和无担保证券可区别于其他形式的债务资金筹措：债券和无担保证券的资金来源于广大的民众，而其他形式的举债筹资要求公司于每个放款机构打交道来获取自己。至于公开发行股票，用发行债券和无担保证券的办法筹措资金，则要求准备公开说明书，告知贷方证券发行的期限.发行条件.到期日以及利率等。利息通常半年一付，但有些金融公司愿意按季度支付。

Interest is usually a fixed sum calculated on the par or nominal value of the security and will be paid throughout the term of the issue, without regard to changes in market rates of interest. The amount regularly paid as interest is known as the “coupon rate”, which will be close to the market or effective rate of interest at the time of issue. Interest rates may fluctuate over the term of issue. When these changes occur, the market will discount future “coupon rate” payments at the market’s required rate of return to determine the price of the security. This required rate of return is called the “yield to maturity”.

利息通常是以证券的面值或名义价值计算的固定金额。利息在整个发行期内支付，而且不考虑市场利率。作为利息定期支付的金额通常被称为“息票利率”。这种利率和证券发行时的市场利率或实际利率相似。在证券发行期间利率可能会波动。出现这些变化时，市场将用市场要求的收益率对将来的“息票利率”进行贴现，以决定保证金的价格。这种要求的收益率叫做“最终收益率”。

Unite 6

Accounting is a system of gathering, summarizing, and communicating financial information for a business firm, government, or other organization. Accounting, also called accountancy, enables decision makers to interpret financial information and use the result in planning for the future. For example, such data tell executives which products or departments are doing well and

which poorly.

会计是企业.政府或其他机构收集、总结、交流财务信息的系统。会计使决策者能解释财务信息并利用其结果计划未来。例如，这些数据可以告诉企业管理者哪些产品和部门做的好，哪些差劲。

Business people often call accounting the “language of business”because they use accounting data in communicating about a firm’s activities. Information provided by accountants helps managers and other executives understand the results of business transactions and interpret the financial status of their organization. With this knowledge, managers can make decisions about such matters as production, marketing, and financing. Charities, churches, colleges, government agencies, and other nonprofit organizations also use accounting to keep track of their financial situation.

经商者常把会计称作“商业语言”，因为他们交流公司活动使用会计数据。会计师提供的信息帮助经理和其他管理人员理解商业交易的结果，了解公司的财务状况。了解这些情况后，经理们可以就生产.营销和财务方面的事项做出决策。慈善机构.教会.大学.政府部门和其他非盈利性组织也利用会计来记录他们的财务状况。

EXERCISE 10

Unite 1

1. Financial intermediaries金融中介middlemen transforming funds from ultimate lenders to ultimate borrowers担任投资者与融资机构中间人的机构

2. financial intermediation金融中介 a financial process of funds transfer资金转移的财务流程

3.diversification经营多样化the process of acquiring a portfolio of securities that have dissimilar risk-return characteristics获取具有不同风险回报特征的证券组合的过程

4. offset抵消counterbalance抗衡

5. liquidity流动资产quality of quick conversion into cash快速兑换成现金特性

6. yield 收益率return投资的利润

7. portfolios投资组合the securities held by a bank investment trust etc.银行持有的证券投资信托等

8. interest rate利率the relation between the payment received by a lender of money and the amount if money lent贷款人收到的款项与货币借出的金额之间的关系

Unite 2

1 Treasury国库Federal government securities联邦政府证券

2. wholesale批发the sale of goods in large quantities大批量销售货物

3. negotiable可兑现的that can be exchanged for money可以兑换钱

4. bid出价an offer of a price出价

5. commercial paper商业票据short-term bonds issued by low-risk companies低风险公司所发行的短期债券

6. equities普通股stock and shares股票

7. inventory库存stocktaking, a list of property存货盘点

8. secondary次级market where assets are traded after their first issuance资产发行后进行买卖的市场

Unite 3

1. beneficiary 受益方party in whose favor a credit is established有利于信贷的一方

2. open account开户arrangement in which payment is made after goods are sold在货物售出后付款的安排

3. contract 合约formal agreement between 2 or more parties两方或多方之间的正式协议

4. sight draft即期汇票 a draft payable as soon as it is presented一旦提交，应尽快付款

5. honor兑付keep an agreement by making a payment持有票据为凭证支付

6. negotiable可兑现的that can be exchanged for money可以兑换钱

7. bill of lading提货单 a contract between a carrier and shipper承运人和托运人之间的合同

8. acceptance承兑 a signed agreement to pay a draft签章表示承诺承担付款

Unite 4

1. risk风险

a condition in which loss or losses are possible具有损失或损失是可能的情况

2. insurance policy保单

a written agreement between an insurance company and a policyholder保险公司和保单持有人之间的书面协议

3. insurance保险

agreement in which you pay a premium in exchange of protection from the specified undesirable event一份协议，你支付保险费，以换取保护免受特定的不良事件

4. liability insurance责任保险

protection against loss arising out of legal liability保险客户的法律赔偿风险

5. claim索偿

a demand for compensation due to damage, etc.因损坏而要求赔偿等

6.the insured被保险人

a person or company that purchases insurance购买保险的个人或公司

7. insurer保险公司

a company against loss arising out of legal liability对法律责任造成的损失承担的公司

8. insurance premium承保范围

sum of money paid regularly to an insurance company in exchange of protection against the specified undesirable evert定期向保险公司支付以换取针对指定的不良事件的保护

9. property insurance财产保险

insurance for direct or indirect financial losses caused by fire, windstorm and theft由火灾，风暴和盗窃导致的直接或间接经济损失的保险

10.coverage覆盖范围

kinds of risks to be insured被保险风险的种类

Unite 5

1. interest rate利息interest paid for the money borrowed借款所支付的利息

2.yield rate收益率profit rate收益率

3. coupon rate孳息率interest on bond债券利息

4. treasury国库券medium-term security中期资本

5. cash balance 现金余额balance in coin or notes硬币或纸币的结余

6. financial institution金融机构financial setup

7. treasury bill国库券short-term debt短期债券

8. interest return利息回报earnings from lending money贷款收益

9. government bonds政府债券long-term bonds长期债券

10. interest-bearing obligations有息债务interest-paying bonds需要支付利息的债券

Unite 6

1.client客户 a person who employees the services of a professional advise r雇用专业顾问服务的人

2. validity有效性the state of being effective

3. suppliers供应商

a person or firm that provides something, esp. goods提供某事物尤其是产品的人或公司

4.shareholders股东 a person who owns shares in a company拥有公司股份的人

5.incorporate合并include

6.tax return纳税申报表 a statement filled in by the taxpayer 纳税人填写的报表

7.asset资产

anything owned by an individual or business that has commercial or exchange value个人或企业拥有的任何拥有商业或交换价值的东西

8.tabulation表格

an action of arranging (facts, figures, etc.)in tables, lists or columns在表、列表或列中排列（事实、数字等）的一种行为

9.fidelity保真度truthfulness

10. predetermine预先确定fix unchangeably from the beginning从一开始就固定不变

11. payroll工资表

a list of employees and amount of wages to be paid to them包含员工人数和支付给他们的工资金额的名单

12. incentive激励an encouragement to grater activity激发创造更多的行为

13. auditing审计an official examination of the accounts of a business or society官方机构对企业或社会帐户的检查

14. reimbursement赔偿 a repayment (of a spender or of money)一种偿还，补偿或赔款

EXERCISE 8

Unite 1

1. It’s apparent that(显而易见), interest rate movements closely follow the business cycle.

很明显，利率跟随商业周期紧密波动

2. Financial intermediaries refer to a group of institutions, some of which are (其中有) commercial banks, mutual savings banks and savings and loan associations.

金融中介是指一系列机构，其中有商业银行，储蓄银行和储蓄和贷款协会。

3. Because of their larger relative size compared to households（由于其相对规模较个人的大）, banks are more easily able to diversify their portfolios.

由于与家庭相比，银行的规模相对更大，更容易实现其投资组合的多元化。

4. With the aid of financial intermediaries（借助金融中介）people can make foreign direct investments without leaving their home country.

借助金融中介，人们可以在不离开本国的情况下进行外国直接投资。

5. If future events were known with certainty（可以确定）, there would be little cause (就没有什么理由) to diversify a security portfolio.

如果未来事件是确知的，就没有产生多元化证券组合的理由了。

6. Given the knowledge of the “law of large numbers”（基于对“大数法则”的认识）, a financial intermediary can issue to savers financial claims that are more liquid than the assets that it holds.

基于对“大数法则”的认识，金融中介机构可以向储户发行的比他们所持有的资产

更具流动性金融债权。

Unite 2

1. The major dealers and brokers are tied to each other(相互联系)by various communication devices.

主要经销商和经纪人通过各种通信设备相互交流。

2. What is a financial market? It is a place where financial transactions take place(金融交易发生).

什么是金融市场？它是一个发生金融交易的地方

3. There are no established “customer relationships” in the money market. As a matter of fact the transactions there are of impersonal and competitive nature(是非个人性和竞争性的).

货币市场上没有既定的“客户关系”。事实上,交易具有客观和竞争性质

4. Most transactions taking place in the money market are settled in（以…结算）Federal Funds.

大多数的交易发生在货币市场，以联邦基金中结算。

5. The transacted securities will not necessarily be physically shipped(实物运输) between buyer and seller.

交易证券不一定实际发生在买方和卖方之间

6. Various money market instruments link all the money markets because of their substitutability（由于它们的可替代性）

各种货币市场工具联系整个货币市场，因为它们具有可替代性

Unite 3

1.It’s the issuing bank that is obligated to make the payment to the exporter (要负责向出口商付款).

这是开证行有义务向出口商付款

2. International collection can be clean or documentary and banks act only as agents in either situation (在这两种情况下).

国际托收可以是清洁的，也可以是跟单的，银行只能在两种情况下代理

3. Because of energy crisis, the government imposed (强行限制) the consuming of petrol.

由于能源危机，政府强加了汽油消费。

4. A banker’s acceptance under the letter of credit extends to the importer for an additional period of financing (又一段融资时间).

银行承兑人根据信用证的接受额度延长了进口商额外的融资期

5. The paid &$50 in advance (预先支付50美元) and made reservations at a hotel.

预付50美元用来预定酒店

6. It is unlikely that governments will prevent banks from honoring letters of credit (禁止银行兑付信用证) that have already been issued.

政府不可能阻止银行兑现已经发行的信用证。

Unite 4

1. Among all kinds of insurance, automobile insurance is of more recent insurance (汽车保险是最近出现的保险)

在所有类型的保险中，汽车保险是最新的保险类型

2. Should the claim occur (如果发生索赔), the insured must present relevant documents, such as insurance contract, the policy, etc.

如果索赔发生，被保险人必须出示相关文件，如保险合同，保单等

3. One of the chief problems that risk managements has to overcome (风险管理部的不克服的) has been to differ itself from insurance

风险管理必须克服的主要问题之一是它（风险管理）与保险的不同

4. Nowadays, people purchase more health insurance than other insurance (健康保险多于其他保险) .

如今，人们购买的健康保险比其他类型的保险多。

5. To purchase insurance (为了投保) , an applicant must demonstrate that he or she has an insurable interest in the property or life insured.

为了投保，申请人必须证明他或她对被保险财产或生命有可保权益。

6. In France, only slightly more than 30% insurance companies (只有30%多一点的保险公司) were nationalized in 1945.

1945年的法国，只有略超过30％的保险公司是国有化的。

Unite 5

1. The national debt includes all interest-bearing obligations of the government, along with certain noninterest obligations that are of minor importance (此外，还有某些不重要的不付息债务) .

国家债务包括政府的所有有息债务，以及某些不太重要的不付息债务

2. The national debt is an alternative to finance fiscal (财政的) expenditures by issuing public debts (通过发行国债)

国家债务融资是一种通过发行公共债务的财政支出

3. These government securities can be issued at somewhat lower cost (以稍低的成本) .

这些国债可以在稍微更低的成本发行

4. The debt should be paid over the useful life of the investment (在投资项目的使用期内) .

债务应在投资期限内偿还

5. In the United States , the national debt remains largely the heritage of World War II, although the continued increases for the 1960s and 1970s suggested that the national debt should no longer be treated as a war phenomenon (尽管六七十年代国债的不断增加说明它已不再被认为是一种战争现象) .

在美国，国债是第二次世界大战主要的遗产，尽管六七十年代国债的不断增加说明它已不再被认为是一种战争现象

Unite 6

1. The function of accounting is to provide useful information to people (把有用的信息提供给人们) to help them make better decisions.

会计的功能是向人们提供有用的信息，帮助他们做出更好的决定。

2. Document preparation (制作凭证) is one of accounting’s most important jobs.

制作凭证是会计最重要的工作之一

3. These data are extremely useful in the completion of the company’s tax returns. (完成公