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Passage 3 Date: 26 Jan. 1993 From: the Kwangtung provincial bank, H. K. Corporate division-treasury Foreign exchange market: Dollar continued its weakness and dropped almost two pfennigs against mark on Monday dealing. Traders’ sentiment was changing greatly. At the beginning of this year, dollar rallied due to positive sentiment that the economy would recover in the expected fashion and German interest rate would ease soon. However, the hopes were dashed after a series worse-than-expected data were released and reluctance to cut rate by German Bundesbank. It seemed that the present us-German interest rate differential would be unlikely to narrow. On Monday trading, technical factor drove dollar further lower and it was quoted as low as 1.57 marks. Some dealers were quite bearish towards dollar, expecting it to ease further to 1.55 even 1.53 level in near future. Dollar also performed weak against Japanese yen. Dealers claimed that the talk of Japanese interest rate cut had been discounted, adding almost no pressure on the Japanese yen. Meanwhile, market was turning focuse on trade balance. Due to huge surplus, dealers believed that the yen should be stronger. During intraday dealing, the dollar was once quoted as low as 122. 75 yen. What was the price of US dollar against mark on Monday

A. 1.53 marks.
B. 1.57 marks.
C. 1.55 marks.
D. 122.75 yen.

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Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and question will be spoken only once. During the pause, you must read the four choices marked A, B, C, D, and decide which is the best answer.

A. Thus she can know the most appropriate investment and the best time of investment.
B. Thus she can earn a lot of money.
C. Thus she can help others.
D. Thus she can know about how much money she has.

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A. 对
B. 错

Directions: In this section, you will hear three short passages. At the end of each passage, you will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.Passage One

A. Profitability.
B. Non-performing and bad loans.
Capital adequacy requirements.
D. All above.

Credit risk or the failure of a counterpart that the bank faces applies not only to loans, but also to other on-and-off-balance sheet exposures such as guarantees, acceptances and securities investments.

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