HKSI Paper 7 (Financial Market) English Free Trial
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Question 1 of 10
1. Question
Which of the following is(are) classified as economic sectors?
I. Household sector
II. Business sector
III. Market sector
IV. Government sector
Correct
Economic sectors are generally classified as follows: household sector, business sector, government sector, overseas sector and finance sector.
Incorrect
Economic sectors are generally classified as follows: household sector, business sector, government sector, overseas sector and finance sector.
Question 2 of 10
2. Question
Which of the following action(s) is(are) how the HKMA manages liquidity?
I. By conducting repurchase agreements with banks.
II. By conducting reinvestment agreements with banks.
III. By conducting bailout agreements with banks.
IV. By conducting market stabilization agreements with banks.
Correct
The HKMA manages liquidity by conducting repurchase agreements (or “repos” as they are commonly referred to) with banks.
Incorrect
The HKMA manages liquidity by conducting repurchase agreements (or “repos” as they are commonly referred to) with banks.
Question 3 of 10
3. Question
What are the purposes of the International Monetary Fund?
I. To promote international monetary cooperation.
II. To facilitate the expansion and balanced growth of international trade.
III. To give confidence to members by making the funds available to use.
IV. To promote exchange stability.
Correct
The International Monetary Fund (IMF) is an international organisation of 184 (August 2002)3 member countries, with headquarters in Washington, DC.
The stated purposes of the International Monetary Fund are:
• To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems.
• To facilitate the expansion and balanced growth of international trade; to contribute to the promotion and maintenance of high levels of employment and real income; and to contribute to the development of the productive resources of all members as primary objectives of economic policy.
• To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
Incorrect
The International Monetary Fund (IMF) is an international organisation of 184 (August 2002)3 member countries, with headquarters in Washington, DC.
The stated purposes of the International Monetary Fund are:
• To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems.
• To facilitate the expansion and balanced growth of international trade; to contribute to the promotion and maintenance of high levels of employment and real income; and to contribute to the development of the productive resources of all members as primary objectives of economic policy.
• To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
Question 4 of 10
4. Question
Which of the following are names as central bank(s)?
I. China: People’s Bank of China
II. Europe: European Central Bank
III. United Kingdom: Bank of Manchester England
IV. Germany: Deutsche Bundesbank
Correct
Examples of central banks include:
• China: People’s Bank of China
• Europe: European Central Bank
• Germany: Deutsche Bundesbank
• Hong Kong: Hong Kong Monetary Authority (HKMA serves as a de facto central bank to Hong Kong, but it is not a central bank in the pure sense.)
• Japan: Bank of Japan
• Malaysia: Bank Negara Malaysia
• Singapore: Monetary Authority of Singapore
• United Kingdom: Bank of England
• United States: Board of Governors of the Federal Reserve System (Washington DC), and the Federal Reserve Bank of New York.
Incorrect
Examples of central banks include:
• China: People’s Bank of China
• Europe: European Central Bank
• Germany: Deutsche Bundesbank
• Hong Kong: Hong Kong Monetary Authority (HKMA serves as a de facto central bank to Hong Kong, but it is not a central bank in the pure sense.)
• Japan: Bank of Japan
• Malaysia: Bank Negara Malaysia
• Singapore: Monetary Authority of Singapore
• United Kingdom: Bank of England
• United States: Board of Governors of the Federal Reserve System (Washington DC), and the Federal Reserve Bank of New York.
Question 5 of 10
5. Question
Which of the following is(are) considered to be the types of long-term debt securities:
I. Government bonds
II. Corporate bonds or debentures
III. Floating rate notes
IV. Mortgage-backed securities
Correct
Types of long-term debt securities:
• government bonds
• corporate bonds or debentures
• floating rate notes
• mortgage-backed securities.
Incorrect
Types of long-term debt securities:
• government bonds
• corporate bonds or debentures
• floating rate notes
• mortgage-backed securities.
Question 6 of 10
6. Question
Which of the following action(s) is(are) how the HKMA manages liquidity?
I. By conducting repurchase agreements with banks.
II. By conducting reinvestment agreements with banks.
III. By conducting bailout agreements with banks.
IV. By conducting market stabilization agreements with banks.
Correct
The HKMA manages liquidity by conducting repurchase agreements (or “repos” as they are commonly referred to) with banks.
Incorrect
The HKMA manages liquidity by conducting repurchase agreements (or “repos” as they are commonly referred to) with banks.
Question 7 of 10
7. Question
Regulation does not mean rigid controls and dictation of day- to- day operations by external regulatory bodies. The type of regulation that is necessary is aimed at providing which of the following?
I. Safeguards for investors
II. Risk management systems
III. Legislative recourse
IV. Regulated trades systems
Correct
Regulation does not mean rigid controls and dictation of day- to- day operations by external regulatory bodies. The type of regulation that is necessary is aimed at providing the following:
• Safeguards for investors: to ensure that investors have access to all the information they require to make informed decisions.
• Risk management systems: to minimise risk to the financial intermediaries (and therefore the financial system as a whole).
• Legislative recourse: to prevent fraudulent or unfair practices and the power to enforce compliance with laws and regulations.
Incorrect
Regulation does not mean rigid controls and dictation of day- to- day operations by external regulatory bodies. The type of regulation that is necessary is aimed at providing the following:
• Safeguards for investors: to ensure that investors have access to all the information they require to make informed decisions.
• Risk management systems: to minimise risk to the financial intermediaries (and therefore the financial system as a whole).
• Legislative recourse: to prevent fraudulent or unfair practices and the power to enforce compliance with laws and regulations.
Question 8 of 10
8. Question
What are the purposes of the International Monetary Fund?
I. To promote international monetary cooperation.
II. To facilitate the expansion and balanced growth of international trade.
III. To give confidence to members by making the funds available to use.
IV. To promote exchange stability.
Correct
The International Monetary Fund (IMF) is an international organisation of 184 (August 2002)3 member countries, with headquarters in Washington, DC.
The stated purposes of the International Monetary Fund are:
• To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems.
• To facilitate the expansion and balanced growth of international trade; to contribute to the promotion and maintenance of high levels of employment and real income; and to contribute to the development of the productive resources of all members as primary objectives of economic policy.
• To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
Incorrect
The International Monetary Fund (IMF) is an international organisation of 184 (August 2002)3 member countries, with headquarters in Washington, DC.
The stated purposes of the International Monetary Fund are:
• To promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems.
• To facilitate the expansion and balanced growth of international trade; to contribute to the promotion and maintenance of high levels of employment and real income; and to contribute to the development of the productive resources of all members as primary objectives of economic policy.
• To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
Question 9 of 10
9. Question
Which of the following are names as central bank(s)?
I. China: People’s Bank of China
II. Europe: European Central Bank
III. United Kingdom: Bank of Manchester England
IV. Germany: Deutsche Bundesbank
Correct
Examples of central banks include:
• China: People’s Bank of China
• Europe: European Central Bank
• Germany: Deutsche Bundesbank
• Hong Kong: Hong Kong Monetary Authority (HKMA serves as a de facto central bank to Hong Kong, but it is not a central bank in the pure sense.)
• Japan: Bank of Japan
• Malaysia: Bank Negara Malaysia
• Singapore: Monetary Authority of Singapore
• United Kingdom: Bank of England
• United States: Board of Governors of the Federal Reserve System (Washington DC), and the Federal Reserve Bank of New York.
Incorrect
Examples of central banks include:
• China: People’s Bank of China
• Europe: European Central Bank
• Germany: Deutsche Bundesbank
• Hong Kong: Hong Kong Monetary Authority (HKMA serves as a de facto central bank to Hong Kong, but it is not a central bank in the pure sense.)
• Japan: Bank of Japan
• Malaysia: Bank Negara Malaysia
• Singapore: Monetary Authority of Singapore
• United Kingdom: Bank of England
• United States: Board of Governors of the Federal Reserve System (Washington DC), and the Federal Reserve Bank of New York.
Question 10 of 10
10. Question
Which of the following is(are) considered to be the types of long-term debt securities:
I. Government bonds
II. Corporate bonds or debentures
III. Floating rate notes
IV. Mortgage-backed securities
Correct
Types of long-term debt securities:
• government bonds
• corporate bonds or debentures
• floating rate notes
• mortgage-backed securities.
Incorrect
Types of long-term debt securities:
• government bonds
• corporate bonds or debentures
• floating rate notes
• mortgage-backed securities.
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