CMA考試New Part2 模擬練習(xí)題（八）

　　第36題

　　Frame Industries has arranged a revolving line of credit for the upcoming year with a commercial bank. The arrangement is for $20 million, with interest payable monthly on the amount utilized at the bank’s prime rate and an annual commitment fee of one-half of 1 percent, computed and payable monthly on the unused portion of the line. Frame estimates that the prime rate for the upcoming year will be 8%, and expects the following average amount to be borrowed by quarter.How much will Frame pay to the bank next year in interest and fees?

　　1、 $1,118,750

　　2、 $1,131,250

　　3、 $1,168,750

　　4、 $1,200,000

　　第37題

　　Mandel Inc. has a zero-balance account with a commercial bank. The bank sweeps any excess cash into a commercial investment account earning interest at the rate of 4% per year, payable monthly. When Mandel has a cash deficit, a line of credit is used which has an interest rate of 8% per year, payable monthly based on the amount used. Mandel expects to have a $2 million cash balance on January 1 of next year. Net cash flows for the first half of the year, excluding the effects of interest received or paid, are forecasted (in millions of dollars) as follows.Assuming all cash-flows occur at the end of each month, approximately how much interest will Mandel incur for this period?

　　1、 $53,000 net interest paid

　　2、 $17,000 net interest paid

　　3、 $195,000 net interest paid

　　4、 $76,000 net interest paid

　　第38題

　　All of the following are reasons why a toy manufacturer would carry accounts receivable except

　　1、 to attract new customers.

　　2、 for potential profit from interest income.

　　3、 to offset seasonal overhead expenses.

　　4、 to compete with the credit terms that competitors offer.

　　第39題

　　Which of the following are determinants of exchange rates under a flexible exchange rate system? I. Balance of trade

　　II. Changes in consumer tastes

　　III. Income changes IV. Capital outflows

　　V. Speculation by investors in foreign currencies

　　1、 I, II, III, IV, and V

　　2、 II, III, and V only

　　3、 II, III, IV, and V only

　　4、 I, II, and IV only

　　第40題

　　Which of the following is not an advantage of a flexible floating exchange rate system?

　　1、 Floating exchange rates result in consistent exchange rates.

　　2、 Proponents believe that floating exchange rates prevent extreme pressures that a fixed rate system would cause.

　　3、 Floating exchange rates facilitate international adjustments to negative economic developments.

　　4、 Floating exchange rates are believed to have prevented severe economic turmoil.