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Why is there no risk to the customer when a bank prints the customer's name to his cheques

？

When anyone opens a current account at a bank, he is lending the bank money, repayment of which he may demand at any time, either in cash or by drawing a check in favor of another person. Primarily, the bank-customer relationship is that of debtor and creditor who is which depending on whether the customer's account is in credit or overdrawn. But, in addition to that basically simple concept, the bank and its customer owe a large number of obligations to one another. Many of these obligations can give rise to problems and complications but a bank customer, unlike, say, a buyer of goods, cannot complain that the law is loaded against him.

The bank must obey its customer's instructions, and not those of anyone else. When, for example, a customer first opens an account, he instructs the bank to debit (把……记入借方) his account only in respect of checks drawn by himself. He gives the bank specimens of his signature, and there is a very firm rule that the bank has no right or authority to pay out a customer's money on a check on which its customer's signature has been forged. It makes no difference that the forgery may have been a very skillful one: the bank must recognize its customer's signature. For this reason there is no risk to the customer in the practice, adopted day banks, of printing the customer's name on his checks, ff this facilitates forgery, it is the bank which will lose, not the customer.

When you have a bank account, you ______. ()

A．must always be in credit

B．can't draw any money if you're overdrawn

C．can draw money without notice

D．can't pay money to anyone else

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更多“Why is there no risk to the cu…”相关的问题

第1题

为什么保险公司要表现为风险中性的，即便它的经理人员是风险规避型的？Why is an insurance company likely lo behave as if it is risk neutral even if its managers are risk . averse individuals？

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第2题

As heart disease continues to be the number-one killer in the United States, researchers h

ave become increasingly interested in identifying the potential risk factors that trigger heart attacks. High-fat diets and "life in the fast track" have long been known to contribute to the high incidence of heart failure. But according to new studies, the list of risk factors may be significantly longer and quite surprising.

Heart failure, for example, appears to have seasonal and temporal patterns. A higher percentage of heart attacks occur in cold weather, and more people experience heart failure on Monday than on any other day of the week. In addition, people are more susceptible to heart attacks in the first few hours after waking. Cardiologists first observed this morning phenomenon in the mid-1980, and have since discovered a number of possible causes. An early-morning rise in blood pressure, heart rate, and concentration of heart stimulating hormones, plus a reduction of blood flow to the heart, may all contribute to the higher incidence of heart attacks between the hours of 8:00 AM and 10:00 AM.

In other studies, both birthdays and bachelorhood have been implicated as risk factors. Statistics reveal that heart attack rates increase significantly for both females and males in the few days immediately preceding and following their birthdays. And unmarried men are more at risk for heart attacks than their married counterparts. Though stress is thought to be linked in some way to all of the aforementioned risk factors, intense research continues in the hope of further comprehending why and how heart failure is triggered.

What does the passage mainly discuss？

A．Risk factors in heart attacks.

B．Seasonal and temporal patterns of heart attacks.

C．Cardiology in the 1980s.

D．Diet and stress as factors in heart attacks.

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第3题

The statement of financial position of BKB Co provides the following information:BKB Co ha

The statement of financial position of BKB Co provides the following information:

The statement of financial position of BKB Co prov

BKB Co has an equity beta of 1·2 and the ex-dividend market value of the company’s equity is $125 million. The ex-interest market value of the convertible bonds is $21 million and the ex-dividend market value of the preference shares is $6·25 million.

The convertible bonds of BKB Co have a conversion ratio of 19 ordinary shares per bond. The conversion date and redemption date are both on the same date in five years’ time. The current ordinary share price of BKB Co is expected to increase by 4% per year for the foreseeable future.

The overdraft has a variable interest rate which is currently 6% per year and BKB Co expects this to increase in the near future. The overdraft has not changed in size over the last financial year, although one year ago the overdraft interest rate was 4% per year. The company’s bank will not allow the overdraft to increase from its current level.

The equity risk premium is 5% per year and the risk-free rate of return is 4% per year. BKB Co pays profit tax at an annual rate of 30% per year.

Required:

(a) Calculate the market value after-tax weighted average cost of capital of BKB Co, explaining clearly any assumptions you make. (12 marks)

(b) Discuss why market value weighted average cost of capital is preferred to book value weighted average cost of capital when making investment decisions. (4 marks)

(c) Comment on the interest rate risk faced by BKB Co and discuss briefly how this risk can be managed. (5 marks)

(d) Discuss the attractions to a company of convertible debt compared to a bank loan of a similar maturity as a source of finance. (4 marks)

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第4题

It has been shown that children who smoke have certain characteristics. Compared with non-

smokers they are more rebellious, their work deteriorates as they move up school, they are more likely to leave school early, and are more often delinquent and sexually precious. Many of these features can be summarized as anticipation of adulthood.

There are a number of factors, which determine the onset of smoking, and these are largely psychological and social. They include availability of cigarettes, curiosity, rebelliousness, appearing thought, anticipation of adulthood, social confidence, the example of parents and teachers, and smoking by friends and older brothers and sisters.

It should be much easier to prevent children from starting to smoke than to persuade adults to give up the habit once established, but in fact this has proved very difficult. The example set by people in authority, especially parents, health care workers, and teachers, is of prime importance. School roles should forbid smoking by children on the premises. This role has been introduced at Summerhill School where I spent my schooldays.

There is, however, a risk of children smoking just to rebel against the rules, and even in those schools which have tried to enforce no smoking by corporal punishment there is as much smoking as in other schools. Nevertheless, banning smoking is probably on balance beneficial. Teachers too should not smoke on school premises, at least not in front of children.

In this passage the author puts an emphasis on ______.

A．the effect of smoking among children

B．the difficulty in preventing children from smoking

C．the reasons why children start smoking among children

D．the measures to ban smoking among children

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第5题

根据以下材料回答第 41～45 题： Passage Three If you want to stay young , sit down and

根据以下材料回答第 41～45 题：

Passage Three If you want to stay young , sit down and have a good think. This is the research result of Professor Faulkner , who says that most of our brains are not getting enough exercise and as a result, we are ageing unnecessarily soon.

Professor Faulkner wanted to find out why healthy farmers in northern Japan appeared to be losing their ability to think and to reason at a relatively age , and how the process of ageing could be slowed down.

He set about measuring brain volumes of a thousand people of different ages and occupations.

Computer technology enabled him to obtain precise measurements of the volume of the front and side sections of the brain , which relate to intelligence and emotion, and determine the human character.

Contraction of front and side parts—as cells die off –was observed in some subjects in their thirties, but it was still not evident in some sixty-and seventy –year-olds.

Faulkner concluded from his tests that there is a simple way to slow the contraction-using the head.

The findings show that contraction of the brain begins sooner in people in the country than in the towns. Those least at risk, says Faulkner, are lawyers , followed by university professors and doctors. White-collar workers doing routine work are, however, as likely to have shrinking brains as the farm worker, bus driver and shop assistant.

Faulkner’s findings show that thinking can prevent the brain from shrinking. Blood must circulate properly in the head to supply the fresh oxygen the brain cells need. “The best way to maintain good blood circulation is through using the brain , ” he says,” Think hard and engage in conversation. Don’t rely on pocket calculators.”

第 41 题 Professor Faulkner wanted to find out_________ .

A．how people’s brains shrink

B．the way of making people live longer

C．the size of certain people’s brains

D．why certain people aged sooner than others

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第6题

假定与货币需求有关的物价水平包括进口产品的价格，而进口产品的价格取决于汇率。这就是说，货币市场可以表述

为：M/P=L(r，Y)。这里：P=λP_d+(1-λ)P_f/e，参数λ是物价指数P中国内产品的比例。假设国内产品价格P_d和用外国通货表示的外国产品价格P_f是固定的。

a．假定我们根据P_d与P_f给定的值(而不是通常所用的P)画出LM^*曲线。解释为什么在这个模型中这条LM^*曲线向右上方倾斜，而不是垂直的。

b．在这个模型中，在浮动汇率下，扩张性财政政策的影响是什么？请解释。与标准的蒙代尔—弗莱明模型进行对比。

c．假设政治不稳定提高了该国的风险贴水，从而使利率上升。在这个模型中，对汇率、物价水平和总收入的影响是什么？与标准的蒙代尔—弗莱明模型进行对比。

Suppose that the price level relevant for money demand includes the price of imported goods and that the price of imported goods depends on the exchange rate. That is, the money market is described by M/P=L(r，Y)，where P=λP_d+(1-_d)P_f/e. The parameter λ is the share of domestic goods in the price index P. Assume that the price of domestic goods P_dand the price of foreign goods measured in foreign currency P_fare fixed.

a．Suppose we graph the LM^*curve for given values of P_dand P_f(instead of the usual P). Explain why in this model this LM^*curve is upward sloping rather than vertical.

b．What is the effect of expansionary fiscal policy under floating exchange rates in this model？ Explain. Contrast with the standard Mundell-Fleming model.

c．Suppose that political instability increases the country risk premium and，thereby，the interest rate. What is the effect on the exchange rate, the price level, and aggregate income in this model？ Contrast with the standard Mundell-Fleming model.

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第7题

If you want stay young, sit down and have a good think. This is the research finding of a

team of Japanese doctors, who say that most our brains are not getting enough exercises—and as a result, we are ageing unnecessarily soon.

Professor Taiju Matsuzawa wanted to find out why otherwise healthy farmers in northern Japan appeared to be losing their ability to think and reason at a relatively early age, and how the process of ageing could be slowed down.

With a team a colleague (同事) at Tokyo National University, he set about measuring brain volumes of a thousand people of different ages and varying occupations.

" Computer technology enabled the researchers to obtain precise (精确的) measurements of the volume of the front and side sections of the brain, which relate to intellect (智能) and emotion, and determine the human character. " The rear section of the brain, which controls functions like eating and breathing, does not contract with age, and one can continue living without intellectual or emotional facilities.

Contraction of front and side parts—as cells die off—was observed in some subjects in their thirties, but it was still not evident in some sixty- and seventy-year-olds.

Matsuzawa concluded from his tests that there is a simple remedy to the contraction normally associated with age—using the head.

The findings show in general terms that contraction of the brain begins sooner in people in the country than in the towns. Those least at risk, says Matsuzawa, are lawyers, followed by university professors and doctors. White collar workers doing routine work in government offices are, however, as likely to have shrinking brains as the farm workers, bus drivers and shop assistants.

Matsuzawa's findings show that thinking can prevent the brain from shrinking. Blood must circulate properly in the head to supply the fresh oxygen the brain cells need. "The best way to maintain good blood circulation is through using the brain, " he says, "Think hard and engage in conversation. Don't rely on pocket calculators.

The team of doctors wanted to find out______.

A．how to make people live longer

B．the size of certain people's brains

C．which people are most intelligent

D．why certain people age sooner than others

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第8题

It is 2 a. m. You took too long over dinner, the coast is still a couple of hundred kilome

ters away and it is essential to get that early morning ferry. And your car radiator pipe has split. At times like that, the documents making up your insurance kit lying in the front of your car seem useless. The nearest phone was passed three kilometers back, and it would be reasonable to expect some delay in getting breakdown assistance when you have finally phoned through.

If on the other hand, you've got a spare in the car, five minutes' work should see you on your way again. The majority of breakdowns do involve minor and easily changed parts. A few basic tools and the right mix of spares are well worth the space they take up. But to sort out which ones are mast likely to be needed, and to buy them, can be expensive.

That is why the motoring organizations have come up with rental kits. For about 50 pence a day (slightly more to non-members)they will supply a boxed range of spares for a given car. On returning the kit the motorist pays for any that are used, plus a small fee for repacking. Deposits are about ￡ 20.

It is much better, however, to reduce the risk of breakdowns by seeing that your car is properly serviced before setting out. Particularly when driving at high speed over long distances in hot weather.

Finally, it makes sense to purchase a safety triangle and an emergency plastic windscreen before leaving. Make sure all your fellow travellers know where your documents are; give one a spare set of keys, and slip into the back of your wallet a large banknote for the emergencies where a credit card won't do.

While on a motoring holiday abroad you might find yourself in difficulties because ______. ()

A．you have brought the wrong documents with you

B．your ferry has just left without you

C．the nearest phone is out of order

D．a repair to your car might take some time

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第9题

冒险做某事怎么表达（）

A.risk doing sth

B.risk to do sth

C.risk do sth

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第10题

When the world was a simpler place, the rich were fat, the poor were thin, and right-think

ing people worried about how to feed the hungry. Now, in much of the world, the rich are thin, the poor are fat, and right-thinking people are worrying about obesity.

Evolution is mostly to blame. It has designed mankind to cope with deprivation, not plenty. People are perfectly tuned to store energy in good years to see them through lean ones. But when bad times never come, they are stuck with that energy, stored around their expanding bellies.

Thanks to rising agricultural productivity, lean years are rarer all over the globe. Modernday Malthusians, who used to draw graphs proving that the world was shortly going to run out of food, have gone rather quiet lately. According to the UN, the number of people short of food fell from 920m in 1980 to 799m 20 years later, even though the world's population increased by 1.6 billion over the period. This is mostly a cause for celebration. Mankind has won what was, for most of his time on this planet, his biggest battle: to ensure that he and his offspring had enough to eat. But every silver lining has a cloud, and the consequence of prosperity is a new plague that brings with it a

host of interesting policy dilemmas.

As a scourge of the modern world, obesity has an image problem. It is easier to associate with Father Christmas than with the four horses of the apocalypse. But it has a good claim to lumber along beside them, for it is the world's biggest public-health issue today—the main cause of heart disease, which kills more people these days than AIDS, malaria, war; the principal risk factor in diabetes; heavily implicated in cancer and other diseases. Since the World Health Organisation labelled obesity an "epidemic" in 2000, reports on its fearful consequences have come thick and fast.

Will public-health warnings, combined with media pressure, persuade people to get thinner, just as they finally put them off tobacco？ Possibly. In the rich world, sales of healthier foods are booming (see survey) and new figures suggest that over the past year Americans got very slightly thinner for the first time in recorded history. But even if Americans are losing a few ounces, it will be many years before the country solves the health problems caused by half a century's dining to excess. And, everywhere else in the world, people are still piling on the pounds. That's why there is now a consensus among doctors that governments should do something to stop them.

The author write this passage mainly to ______.

A．bring up some warnings.

B．tell the reader some new facts.

C．discuss a solution to a problem.

D．persuade the reader to keep fit.

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