Stock exchanges serve important roles in national economies. They encourage investment by - 试题答案网问答

第1题

Common stock traded on stock exchanges represents______.A．the voting rights the stockholde

Common stock traded on stock exchanges represents______.

A．the voting rights the stockholders have

B．the stock shared by common people

C．the profits the shareholders receive

D．the ownership of a public corporation

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第2题

Stock exchange is a place()stocks and bonds are bought and soldthrough exchanges under r

Stock exchange is a place（)stocks and bonds are bought and soldthrough exchanges under r

Stock exchange is a place()stocks and bonds are bought and sold

through exchanges under rules and at regular hours.

A.that

B.which

C.where

D.when

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第3题

Common stock traded on stock exchanges represents ______.A．the voting rights the stockhold

Common stock traded on stock exchanges represents ______.

A．the voting rights the stockholders have

B．the stock shared by common people

C．the profits the shareholders receive

D．the ownership of a public corporation

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第4题

？Read the article below about the securities exchange.？Choose the best sentence to fill in

？Read the article below about the securities exchange.

？Choose the best sentence to fill in each of the gaps.

？For each gap 8-12, mark one letter(A-G)on your Answer Sheet.

？Do not use any letter more than once.

The Securities Exchange

When people buy stock, most do so through one of the securities exchanges or marketplaces for stocks and bonds. These marketplaces are commonly called "stock exchanges" and they provide a meeting place for both the buyer and seller. To understand why such securities or stock exchanges are important in the purchase and sale of stocks and bonds, consider what would happen if you, and everyone who wanted do buy (or sell) securities, had to find your own buyer (or seller). If the market is going down the only way to recover your investment is to hang on to the stock and wait for it to come back. More importantly, how would you find out who is interested in selling that stock to you (or buying it from you)？ In order to handle this marketing problem, securities exchanges sprung up. These exchanges are nothing more than locations where stocks are bought and sold. And since there is a common meeting place for there (or send their representatives). The result is a very systematic market process, where transations are handled in an orderly manner and the operations are both supervised and regulated by law. (8) Buying and Selling Securities

The general approach in buying and selling securities, regardless of the exchange where they are purchased, is basically the same, We provide a general picture of how security transactions take place; and for a fuller understanding, we will discuss some of the important terminology and functions of security trading. (9)

How would you go about buying stock in a major corporation？ It's really quite simple. First, you would decide what you want to buy—such as 100 shares of IBM. (10)

Assuming your broker works for a major stock brokerage, the order would be telephoned directly to a company clerk on the floor of the New York Stock Exchange. The clerk would hand the order to a member of the Exchange who is a partner in the brokerage. This individual would then go to the appropriate locale on the trading floor and ask for the latest quote on IBM. Let us say it is "70 to a quarter." (11)

If your broker wants, a sale can be struck at ＄ 70.25 since the order calls for a purchase at the current market price. More likely, however, your broker will bid ＄ 70.125 and hope to save you one eighth of a point or ＄ 12.50. And it is likely that another broker with an order to sell will show up and accept the bid of ＄ 70 1/8. The two brokers will then initial each other's sales orders and see that the transaction is relayed to the exchange employee known as the reporter. The reporter sees that the sale is reported and a few minutes later it will come out on the ticker tape.

Bulls and Bears

What does "a bull" mean？ It is a term that is used to refer to an invester who expects prices to rise.

(12) Of course, the market will not always rise. Sometimes stocks drop and remain low for extended periods of time. Those investors who expect stock prices to decline are known as "bears." During the Great Depression, the bears made a great deal of money. While the bulls were "buying long" the bears were "selling short."

A How would you know what a fair price for the security is？

B This means that someone is currently bidding "＄ 70 for the stock and another party is willing to sell at ＄ 70.25."

C How stocks are actually purchased

D "Bulls" buy in anticipation of the market going up.

E In this way, the buyer (or seller) is ensured that the best price is secured and they are not shortchanged or cheated in any way.

F&nbs

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第5题

New York Stock ExchangeThe New York Stock Exchange（NYSE)is the largest stock market in the

New York Stock Exchange

The New York Stock Exchange(NYSE)is the largest stock market in the world and also the oldest financial market in the United States where billions of dollars worth of stock change hands each day.

The exchange evolved from a meeting where 24 brokers and merchants signed the historic "Buttonwood Agreement" to trade a handful of securities on what is now Wall Street in New York City in 1792. It was formally constituted as the New York Stock and Exchange Board in 1817. The present name was adopted in 1863. Today, 2,800 companies trade their shares on the NYSE. These companies are all publicly traded. (9)

The NYSE is owned by its members. A membership is traditionally called a seat. Membership, limited to 1,366 since 1953, is obtained by purchasing(since 1868)a seat from an existing member.

Unlike some of the newer exchanges, the NYSE still uses a large trading floor in order to conduct its transactions. (10) This is called the open outcry system and it usually produces fair market pricing.

Only the highest quality companies can choose to list their securities on the NYSE. To be considered for an NYSE listing, companies must meet strict financial and regulatory criteria. (11) And once they do, the NYSE plays a unique role in providing deep and liquid markets for the trading of those securities, benefiting all investors, large and small. Listed companies pay both initial listing fees and annual fees.

When companies first list on the NYSE, the company's top officials are often invited to ring the Opening Bell on the NYSE Trading Floor. (12)

In addition to having the highest overall listing standards of any securities marketplace in the world, the NYSE is among the world's most well-recognised brand names. (13)

In the more than two centuries that have followed, the NYSE has continued to adapt and evolve into the world's largest global equities marketplace. (14) Its mission is to add value to the capital-raising and asset-management process by providing the highest-quality and most cost-effective marketplace for the trading of financial instruments, to promote confidence in and understanding of that process, and to serve as a forum for discussion of relevant national and international policy issues.

A Issuers that list with the NYSE benefit from association with this brand name while gaining access to the world's largest, most liquid market for the trading of their securities.

B Even meeting these requirements is not a guarantee that the NYSE will list the company.

C That means any investor can buy their stock.

D Many new exchanges have stopped using the trading floor to conduct their transactions.

E It is here that the representatives of buyers and sellers, professionals known as brokers, meet and shout out prices at one another in order to strike a deal.

F The NYSE has remained unwavering in its commitment to customers and to building a truly global marketplace with great breadth of product and geographic reach.

G It was formally constituted as the New York Stock and Exchange Board in 1817.

H Ringing the Bell, which signals the start and close of the trading day, is part of the NYSE's rich heritage and signifies the opportunities the financial markets provide.

(9)

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第6题

？Read the following extract from an article about Security Markets.？For each question 15—2

？Read the following extract from an article about Security Markets.

？For each question 15—20, mark one letter (A, B, C, or D) on your Answer Sheet for the answer you choose.

Stocks may be purchased in either the primary or the secondary market. The primary market is a market in which all investor purchases financial securities (via an investment bank or other representative) directly from the issuer of those securities. Usually, an investment-banking firm an organization that assists corporations in raising funds — is involved in the marketing and distribution process. A corporation can also obtain equity by selling securities directly to current stockholders.

The secondary market involves transactions for existing securities that are currently traded between investors and are usually bought and sold through a securities exchange or the over-the-counter market. Securities exchanges are marketplaces where members buy and sell securities for their clients. The New York Stock Exchange is the largest in the United States; it accounts for about 50 percent of stock bought and sold in the United States. Other securities exchanges include the American Stock Exchange and several regional exchanges. The over-the-counter market is a network of account executives(stockbrokers) who buy and sell the securities that are not traded in exchanges. If you invest in securities, chances are that you will use the services of an account executive who works for a brokerage firm. Most full-service account executives not only process your orders to buy and sell securities but also provide valuable information and advice. For these services, they are paid a commission based on the size and value of tile transaction. An investor should choose an account executive who is ethical ,compatible, and able to provide the level of service required by the investor. Personal investment planning begins with formulating measurable and realistic investment goals. A personal investment plan is then designed to implement those goals. Many financial planners suggest, as a first step, that the investor establish an emergency fund equivalent to three to six months' living expenses. Then additional funds may be invested according to the investment plan. Finally, all investments should be carefully monitored and, if necessary, the investment plan should be modified.

Depending on their particular investment goals, investors seek varying degrees of safety, income, growth, and liquidity from their investments. Safety is, in essence ,freedom from the risk of loss. Generally, the greater the risk, the greater should be the potential return on all investment.

Income is the periodic return from all investment. Growth is an increase in the value of the investment. Liquidity is defined as the ease with which an asset can be converted into cash. Among the traditional investment alternatives are bank accounts, corporate bonds, government bonds, common stock, preferred stock, mutual funds, and real estate. High-risk investment techniques can provide greater returns, but they entail greater risk of loss. They include buying stock on margin, selling short, and trading incommodities and options.

Information on securities and the firms that issue them can be obtained from the newspapers, brokerage-firm reports, business periodicals, corporate reports, and investors’ services. Most local newspapers report daily securities transactions and stock indexes, or averages. The averages indicate price trends but reveal nothing about the performance of individual stocks. State and federal regulations protect investors from unscrupulous securities trading practices. Federal laws, which are enforced by the Securities and Exchange Commission, require the registration of new securities, the publication and distribution of prospectuses, and the registration of brokers and securities deale

A．Most full-service account executives can process your orders to buy and sell securities.

B．You can pay the full-service account executives commission whatever you wish.

C．Full-service account executives should be ethnical, compatible and able to provide the level of service required by the investor.

D．Most full-service account executives can provide valuable information and advice.

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第7题

听力原文：M: Unlike partners and proprietors, owners in a corporation have limited liabilit

y. They stand to lose only what they have invested. Creditors can sue a corporation for not paying its debts, forcing the corporation to declare bankruptcy. Creditors, however, cannot make the stockholders pay the corporation's debts out of their own personal assets. Because corporations have to report so many of their activities and because many government agencies scrutinize their activities, corporations often lose the competitive advantage of secrecy. Corporations must make public reports on profits, total sales, and research expenditures. Competitors can learn much about each other by reading reports and studying reports from hearings.

F: Stockholders can transfer shares of stock to others without causing the termination of the corporation. Major stock exchanges list the latest selling price for thousands of stocks by the minute, and they provide a ready market for buyers and sellers. The withdrawal is easy compared to the other forms of ownership because the sale of an owner's stock does not dissolve the corporation. A proprietor can have a brain-storm over a ham sandwich at lunch. Make a decision. And act on it before the end of the day. But corporations have many departments, committees, and beards that must approve major projects before actions can be taken.

M: Unlike proprietorships and partnerships, a corporation can last indefinitely. While some charters specify the length of life of the company, most assume an indefinite life span. The existence of the corporation is unaffected by the death or withdrawal of its stockholders. The government creates the corporation as an artificial being and feeds its offspring with dozens of rules and regulations. Many of these regulations apply to all organizations, but enforcement is focused on the larger corporations. In order to comply with all the regulations, corporations spend a good deal interpreting laws, maintaining records, and reporting to government agencies.

F: Corporations have a large advantage in obtaining more money for expansion. They can raise money more easily because its stock and bonds are bought and sold in public markets such as stock exchanges. The price of ownership is known, and when the company wants to raise new funds, it can sell new shares or bonds to the public and attract funds from both domestic and foreign investors. The larger a corporation becomes, the more sources of financing are available to it. The corporation is treated as a legal entity and must pay taxes on its taxable income. When after-tax corporate profits are paid out in dividends to the stockholders, the dividends are taxed a second time as part of the individual owner's income. Thus owners pay taxes twice on corporate profits.

M: While all corporations are not large, most large businesses are corporations. Large size offers the advantage of economical production methods; large companies can buy materials, manufacture products, and ship finished goods

in bulk. But even more important is the ability to specialize. This potential, combined with the ability to pay higher salaries and offer attractive fringe benefits, gives the corporation an advantage in hiring and keeping top-rate employees. A corporation is more costly and difficult to create than other forms of~ ownership. Preparing the articles of incorporation, developing a prospectus for potential owners, complying with regulations on stock issues, and registering in other states is costly and time consuming. Filing fees, lawyer expenses, and promotion costs can be expensive.

&8226;You will hear five different business people talking about corporations.

&8226;For each extract there are two tas

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第8题

（)进程负责管理用户会话连接。

A.PMON

B.SMON

C.SERV

D.NET8

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第9题

What is this text about？A．Using the City Hall.B．Making telephone calls.C．The building serv