31。risk for a security held in a diversified portfolio is ______. A. specific risk
B. standard deviation of returns
C. reinvestment risk
D. covariance
32. The security market line depicts ______. A. a security's expected return as a function of its systematic risk
B. the market portfolio as the optimal portfolio of risky securities
C. the relationship between a security's return and the return on an index
D. the complete portfolio as a combination of the market portfolio and the risk-free asset
33. The key factor limiting how much a commercial bank has immediately available to lend is the amount of its ______.
A. demand deposits
B. excess reserves
C. vault cash
D. savings deposits
34. A description of the current international monetary system is as follows: . A. a free-floating system B. all currencies are pegged ( fixed in price ) to another currency or to a basket (group) of currencies
C. some currencies are pegged and some float, but few remain fixed at the same rate for very long
D. all currencies float within an agreed upon range of one another
35. In a standard spot exchange transaction, a Thursday deal is settled on _____ if the day is a business day of banks. A. Friday
B. Saturday C. the following Monday
D. the following Tuesday
36. Open market operations are ______.
A. the tool used most often by the central bank
B. seldom used by the central bank
C. used more than the discount rate but not nearly as often as changes in reserve requirements by the central bank
D. used by the central bank only during inflationary periods
37. Given US interest rates at 2.00% and Japanese interest rates at 1.00% for the same period, where would the Interest Rate Parity Theory expect the USD/JPY exchange rate most likely to trend toward given a current spot exchange rate of 134.00 ? . A. 135.00
B. 134.00 C. 132.00
D. It cannot be determined
38. On October 1, 2000, ABC Co. Ltd. loaned XYZ Store $300 000, receiving in exchange a nine-month, 12% note receivable. ABC ends its fiscal year on December 31, and makes adjusting entries to accrue interest earned on all notes receivable. The interest earned on the note receivable from XYZ during 2001 will amount to ______. A. $9000
B. $18000 C. $27000
D. $36000
39. In terms of daily volume, ______ is the largest traded financial market in the world. A. the stock market
B. the mutual fund market
C. the bond market
D. the foreign exchange market
40. Which of the following practices contributes to efficient cash management? ______. A. Never borrow money—maintain a cash balance sufficient to make all necessary payments
B. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
C. Prepare monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance
D. Pay each bill as soon as the invoice arrives
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