投資學(xué)英文版課件investments final review 2015

PAGEPAGE6PreparationoutlineforfinaltestⅠTeststructureofFinalExam1.True/False.Write‘T’ifthestatementistrueand‘F’ifthestatementisfalse,detectandcorrectthemistakesifthereareany.(10marks，1foreach)注意判斷正誤后，如果判定為錯(cuò)誤的題目一定要改正，否則不計(jì)分！2.Fillintheblanks.(10marks,2foreach)3.MultipleChoicesingleanswerquestions.PleaseselectONEBESTanswer(18marks,1foreach)4.TranslatethefollowingtermsfromEnglishintoChineseandviceversa(10marks,1foreach)5.Definethefollowingterms.Pleaseanswerbriefly(12marks,3foreach)6.TranslatethefollowingsentencesintoChinese.(24marks,4foreach)7.Calculationandexplanation(16marks)ⅡkeyTerms(Explanation)Chapter1introductionInvestmentAnInvestmentisthecurrentcommitmentofmoneyorotherresourcesintheexpectationofreapingfuturebenefits2-portfolioAnaccumulationofassetsownedbytheinvestoranddesignedtotransferpurchasingpowertothefuture3-riskRiskreferstotheuncertaintythattheactualreturntheinvestorrealizeswilldifferfromtheexpectedreturn4-financialriskistheriskassociatedwithhowthefirmfinancesitsassets.5-businessriskistheriskassociatedwiththenatureofthefirm’soperations6-diversificationreferstotheprocessofaccumulatingdifferentsecuritiestoreducetheriskofloss.7-liquidityreferstotheeaseofconvertinganassettocash.8-marketriskistheriskduetothetendencyofsecuritypricestomovetogether.Chapter2-3Securitiesmarket:1-privateplacementThedirectsaleofanentireissueofbondsorstocktoaninvestor(orgroupofinvestors)ortoafinancialinstitution2-brokerAbrokerisanagentwhohandlesbuyandsellordersforaninvestor3-LimitOrderAnorderplacedwithabrokertobuyorsellataspecifiedprice4-Underwritingtheprocessbywhichsecuritiesaresoldtothegeneralpublicandinwhichtheinvestmentbankerbuysthesecuritiesfromtheissuingfirm5-Commissionsfeeschargedbybrokersforexecutingorders6-oddlotaunitoftradingthatissmallerthanthegeneralunitofsale7-Margintheamountthataninvestormustputdowntobuysecuritiesoncredit8-OTCMarketTheinformalsecondarymarketforunlistedsecurities.9-SecondaryMarketAmarketforbuyingandsellingpreviouslyissuedsecurities.10-MarketorderAnordertobuyorsellatthecurrentmarketpriceorquoteChapterFive-CorporateStock1-dividendApaymenttostockholdersthatisusuallyincashbutmaybeinstockorproperty2-RightsOfferingSaleofnewsecuritiestoexistingstockholders3-ex-dividenddateThedayonwhichastocktradesexclusiveofanydividends4-stockdividendAdividendpaidinstock.5-votingrightsTherightsofstockholderstovotetheirsharesⅢVocabularyChapter1IntroductionRealasset實(shí)物資產(chǎn)Financialasset金融資產(chǎn)Investment投資portfolio投資組合Derivative衍生金融工具efficientmarkethypothesis(EMH)有效市場假說PrimaryMarket初級市場Secondarymarket二級市場Liquidity流動(dòng)性Marketability流通性、市場性Speculation投機(jī)CapitalGain資本利得Systematicrisk系統(tǒng)風(fēng)險(xiǎn)Unsystematicrisk非系統(tǒng)風(fēng)險(xiǎn)Portfoliorisk組合風(fēng)險(xiǎn)Diversifiedportfolio分散化投資組合Purchasingpower購買力Financialmarket金融市場Chapter2andchapter3:financialmarketsPrivateplacement私募Initialpublicoffering(IPO)初始公開發(fā)行Issue發(fā)行Underwrite承銷Besteffortagreement代銷Firmcommitment包銷Listedcompany上市公司Marketmaker做市商Finalprospectus最終招股書Preliminaryprospectus初始招股說明書Limitorder限價(jià)指令Marketorder市價(jià)指令Long(bull)position多頭頭寸short(bear)position空頭頭寸Stoporder止損指令Bid-AskSpread買賣差價(jià)Streetname街名、行號代名Cashaccount現(xiàn)金賬戶Blocktrade大宗交易Delivery交割Maintenancemargin維持保證金Closeposition平倉NationalAssociationofSecuritiesDealersAutomatedquotationsystem（NASDAQ）全國證券交易商自動(dòng)報(bào)價(jià)系統(tǒng)（納斯達(dá)克）ChapterFive-CorporateStockCashdividend現(xiàn)金股利Stockdividend股票股利Payoutratio股利支付率Retentionratio留存收益比率Dateofrecord股東登記日exdividenddate除息日Distributiondate派息日Stocksplit股票拆分Cumulativepreferredstock累積優(yōu)先股Preemptiverights優(yōu)先認(rèn)股權(quán)ⅣImportantSentencesChapterone-introduction1.Theeaseofconvertinganassettocashisanasset’sliquidity資產(chǎn)的流動(dòng)性指將資產(chǎn)輕易變現(xiàn)的可能性。2.Factorsaffecttheconstructionofaportfolioincludethefinancialgoalsoftheinvestor,therisksinvolved,andaknowledgeoftheavailableopportunitiesandalternativeinvestments.影響投資組合構(gòu)建的因素包括投資者的理財(cái)目標(biāo)，面臨的風(fēng)險(xiǎn)以及對可能投資機(jī)會和不同投資工具的了解。3.Riskisconcernedwiththeuncertaintythatyourrealizedreturnwillnotequalyourexpectedreturn.風(fēng)險(xiǎn)指實(shí)際收益可能與預(yù)期收益不等而帶來的（收益）不確定性。4．Youcanavoidexchangerateriskbynotacquiringforeignassetsandofcourse,misstheopportunitiessuchinvestmentsmayoffer.你可以不購置國外資產(chǎn)，從而規(guī)避外匯風(fēng)險(xiǎn)，當(dāng)然，同時(shí)也錯(cuò)過了這些投資工具可能帶來的贏利機(jī)會。5.Speculationreferstoaninvestmentthatoffersapotentiallylargereturnbutisalsoveryrisky;投機(jī)指提供大額收益機(jī)會的投資，但這種投資風(fēng)險(xiǎn)性也極高。Chapter2-3Securitiesmarket1.Thedirectsaleofanentireissueofbondsorstocktoaninvestorortoafinancialinstitutioniscalledaprivateplacement.將計(jì)劃發(fā)行的全部股票或債券直接發(fā)售給特定投資者或金融機(jī)構(gòu)的過程，稱為私募。2Theinvestmentbankermaymakeabest-effortagreementinwhichtheyagreetomaketheirbestefforttosellthesecuritiesbutdonotguaranteethataspecifiedamountofmoneywillberaise.投資銀行可選擇簽署代銷協(xié)議。在該協(xié)議下，他們承諾盡力銷售證券，但不保證能募集到確定數(shù)量的資金。3.Theinvestortakesalongpositioninthesecurityinanticipationofthepriceincrease.當(dāng)投資者預(yù)期證券的價(jià)格上漲時(shí)，他就會持有該證券的多頭頭寸。4．Marketmakertrytoquoteanequilibriumpricethatequatesthesupplywiththedemand.做市商力求報(bào)出使供求匹配的均衡價(jià)格。5.Theinvestormayenteralimitbuyorderandspecifyapricebelowthecurrentaskingprice.投資者可以下達(dá)限價(jià)買入委托指令，設(shè)定買入價(jià)格的上限，該價(jià)格低于當(dāng)前賣方報(bào)價(jià)。6.Interestrateriskistheriskduetothetendencyofsecurityprices,especiallyfixed-incomesecurities,tomoveinverselywithchangesintherateofinterest.利率風(fēng)險(xiǎn)指由于證券（特別是固定收益證券）價(jià)格隨利率變動(dòng)反向變動(dòng)的趨勢帶來的風(fēng)險(xiǎn)。ChapterFive-Corporatestock1.Ifafirmdoespoorly,anotherfirmmayoffertobuytheoutstandingstockheldbythepublic.一家公司如果經(jīng)營不善，可能就會有另外一家公司出價(jià)買入由公眾持有該公司的流通股。2.Afirm’searningsmaybedistributedtoshareholdersintheformofcashdividends,ortheymayberetainedbythecorporation.公司收益可以現(xiàn)金紅利的形式向股東分配，也可以由公司留存3.Aminoritygroupofshareholderscanusethecumulativemethodofvotingtoelectarepresentativetothefirm’sboardofdirector.少數(shù)股東能行使累積投票權(quán)，選舉公司董事會的代表。4.Preferredstockholdersreceivedividendpaymentsbeforecommonstockholdersand,incaseofliquidation,arecompensatedbeforecommonstockholders.優(yōu)先股股東比普通股股東先收到紅利支付款，而且，當(dāng)公司破產(chǎn)清算時(shí)，優(yōu)先股股東在普通股股東之前得到償付。5.Stockdividenddoesnotincreasethewealthofstockhol