Ⅰ.Translate the following special terms （E-C， C-E）.（20%）
purchasing power parity[1分]
Ⅱ.Decide whether the following statements are true（“T”） or false （“F”）.（10%）
The insurance documents generally refer to an insurance policy or more likely， a certificate of insurance.[1分]
According to the comparative cost theory， countries should specialize in the production of goods and services they can produce most efficiently.A country is said to have a comparative advantage in the production of such goods and services.[1分]
The U.S.A.was the largest trading partner of China in 2007.[1分]
The WTO was established on Jan.1， 2005， created by the Uruguay Round.[1分]
Depreciation means an increase in the value of a currency relative to other currencies.[1分]
National differences in language， culture， social values and political systems can represent barriers to trade.[1分]
There are 15 member countries in the ASEAN.[1分]
Shareholders， in practice， are the ultimate governing body of the corporation.[1分]
McDonald’s and Kentucky Fried Chicken have used licensing to reach consumers overseas.[1分]
A firm offer is a promise to sell goods at a stated price， usually within a stated period of time.[1分]
Ⅳ.Choose the best answer.（20%）
________ is a measure of the market value of all goods and services within the boundaries of a nation.[1分]
_____ has the currency “dollar”.[1分]
Which of the following is not a credit instrument？[1分]
_________ is the largest free trade area in the area.[1分]
Concerning the E.U.， which of the following statements is wrong？[1分]
A college student in Greece can get a job in the U.K.in summer vocation.
All the member countries adopt the currency， euro.
The executive body of the EUis the European Commission， headquartered in Brussels.
The Council of Ministers has the final power to decide
A _______ is a special type of parent company that exercises little operating control over the subsidiary， merely “holding” its stock as an investment.[1分]
Which of the following is not a business-format franchise？[1分]
Which of the following statements concerning intellectual property is wrong？[1分]
Intellectual property is an intangible creation.
Intellectual property includes patents， trademarks， copyrights， etc.
Intellectual property is a visible creation.
There are some agreements concerning intellectual property under the WTO.
The headquarters of the WTO is _______.[1分]
_________ are subsidies or tax rebates paid by government to encourage them to export.[1分]
Which of the following aspects is not what an economic union concerns？[1分]
harmonized tax rate structures
Which of the following is not an institutional shareholder？[1分]
Both joint ventures and wholly-owned facilities are________.[1分]
foreign direct investment
We give you on the attached sheet full details covering packing and marking， which must be strictly __________.[1分]
After inspection of the above shipment we found 5 cases ________.[1分]
As usual， we are going to insure against _______ for 110% of the invoice value.[1分]
Damage ______the goods was caused by heavy rain during transit.[1分]
And in the United States， 13 antidumping suits were __________ Korean firms.[1分]
The WTO has not _____ the issue of the trade in agricultural products.[1分]
All the losses __________from your delay in shipping our goods will be for your account.[1分]
The foreign exchange market traditionally deals in large quantities of a currency， such as 100，000 pounds or 1，000，000 Japanese yen.Small decimal changes in the exchange rate are important， because each trader wishes to buy another currency at as low a cost as possible and sell it for the maximum amount at any given moment.
Trading for prompt delivery is called spot trading， which means that settlement occurs in two business days.At that time， the seller of a foreign currency delivers it to the bank account of the buyer， who at the same time pays for it by crediting the bank account of the seller.
Trading may also occur for settlement on delivery at any future date.This transaction results in a future or forward contract.A businessman who knows he will be paid for the sale of machinery within thirty days can arrange with his banker today to settle the rate of exchange at which the bank will buy the foreign currency when it is delivered.Trading for future delivery is very common.It reflects the planning time for exports， imports， and investments.
A bank's foreign exchange trader also buys and sells the actual banknotes and coins.This service is usually offered to accommodate tourists.The rate of exchange for such paper money and coins is less favorable to the customer than the rate of exchange for cable transfers of a large quantity.This is because of the expense involved in handling and storage （since this foreign money is in the form of cash）.
Every nation restricts residents on the use of its currency outside the country.Such restrictions became very common during and immediately after World War II.Specific controls might include limitations on the availability of exchange for overseas investments， for non-essential or luxury imports， and for out-of-the-country travel.Some countries maintain a system of multiple exchange rates to encourage particular exports and to limit imports.Under the prodding of the International Monetary Fund， these restrictions have been substantially reduced， and currencies in recent years have become more freely convertible.
The passage is mainly about _________________________.[1分]
the foreign exchange market
the foreign exchange control
the factors affecting exchange rate
the International Monetary Fund
Which of the following is not mentioned in the passage？____________[1分]
A forward transaction is usually delivered ______________.[1分]
when it is due according to the contract
Which of the following statement is true according to the passage？ ________[1分]
Small changes in the exchange rate do not matter to foreign exchange traders.
The rate of exchange for paper money and coins is more favorable because they are actual foreign exchange.
Forward rate is settled by a contact between a businessman and the bank.
Every nation reduces restrictions on the use of foreign exchange to encourage exports and limit imports.
Which of the following is not a fact of exchange control？[1分]
Limitations on the supply of exchange for overseas spending.
A system of multiple exchange rates to encourage particular exports and to limit imports.
These restrictions have been substantially increased.
Currencies in recent years have become more freely convertible.
Some people believe that you have to be a special kind of person to sell a product.But although it is clear that a successful sales rep does need special talents and an outgoing personality， many of the skills he uses are used by us all： we build and maintain relationships with different kinds of people， we listen to and take note of what they tell us and don’t just enjoy the sound of our own voices， and we explain things to them or discuss ideas with them.
A firm may depend on their own sales and/or on the salesmanship of their distributors， wholesalers or retailers.But any company needs to establish a personal relationship with its major clients （‘key accounts’） and potential customers （‘prospects’）.It is often said that ‘people do business with people’： a firm doesn’t just deal impersonally with another person， but a person in the buying department receives personal visits from people representing the firm’s suppliers on a regular basis – or in case of department stores or chain stores， a team of buyers may travel around visiting suppliers.
Keeping sales people ‘on the road’ is much more expensive than employing them to work in the office and much of their time is spent unproductively traveling.Telephone selling may use this time more productively （though in some countries this is illegal）， but a face-to-face meeting and discussion is much more effective.Companies involved in the export trade often have a separate export sales force， whose travel and accommodation expenses may be very high.Servicing overseas customers may consequently often be done by phone， telex or letter and personal visits may be important.Many firms appoint an overseas agent or distributor whose own sales force takes over responsibility for selling their products in another country.
A sales department consists of many people who are based in different parts of the country or the world， who don’t have the day-to-day contact and opportunities for communicating with each other that office-based staff have.For this reason， firms hold regular sales conferences where their entire sales force can meet， receive information and ask questions about new products and receive training.
What is the most important factor in selling goods？[1分]
Visiting customers frequently.
Having more telephone communication.
Maintaining good personal relationship.
According to this passage， which statement is true？[1分]
A firm may depend on wholesalers to form personal relationship with its major customers.
Keeping sales people on the road is useful and productive.
Face-to-face meetings and discussions are effective.
A separate export sales force is indispensable.
The reasons why many firms appoint overseas agents are as follows except that_____.[1分]
Overseas agents can take over responsibility for selling products in their own countries.
Overseas agents are more skillful in selling goods.
It’s a good way to cut down unproductive expense incurred in traveling.
Oveaseas agents have location advantage.
With which of the following statements would the author most likely agree？[1分]
Office-based sales force is better than country-based one.
Country-based sales force is better than office-based one.
Country-based sales force can use phone and telex more efficiently.
Office-based sales force can have day-to-day contact.
Why firms have their whole sales force meet regularly？ Which of the following is not a reason？[1分]
To form close personal relationship.
To receive some training.