A revolving credit commitment gives the borrower assurances of the availability of funds over unexpected period of tight credit in future years.A．RightB．WrongC．Doesn't say

The commercial banks mentioned in the passage can not have any other trade with companies except the credit action.

A．Right

B．Wrong

C．Doesn't say

听力原文：What is it called if a letter of credit is issued for guarantee of performance rather than payment?

(3)

A．Back-to-back credit.

B．Reciprocal credit.

C．Documentary credit.

D．Stand-by credit.

A、is worth of a credit

B、gives him credit

C、does you credit

D、has lots of credit to you

The term-loan agreement specifies a draw-down period of, say, up to two years, during which the funds must be used by the borrower; otherwise the borrower is not allowed to draw down any unused credit.

A．Right

B．Wrong

C．Doesn't say

Moreover, reservations by credit card four weeks()guarantee availability of the room size required.

A、 in advance

B、 at advance

C、 on advance

Relatively efficient market can usually provide information on the credit worthiness of a commercial bank.

A．Right

B．Wrong

C．Doesn't say

Security is required on loans so that ______.

A．the lending bank can enjoy higher interest receipts from the loan

B．the borrower is more willing to pay back the money

C．the funds borrowed will be repaid within a shorter period of time

D．more prime borrowers are attracted

SECTION A MINI-LECTURE

Directions: In this section you sill hear a mini-lecture. You will hear the lecture ONCE ONLY. While listening, take notes on the important points. Your notes will not be marked, but you will need them to complete a gap-filling task after the mini-lecture. When the lecture is over, you will be given two minutes to check your notes, and another ten minutes to complete the gap-filling task on ANSWER SHEET ONE. Use the blank sheet for note-taking.

听力原文： Good morning, everyone. First about your second assignment. I'd like to remind you that your second assignment should be in by next Fri day. You can either put it in my pigeon hole, or leave it with the Department's secretary. Now, let's get down to the lecture.

Today, the lecture is on credit, er, or to be more specific, on credit cards. I'm sure you must have heard of some credit cards, like the VI SA card, which is an internationally used card, or the Great Wall card issued by the Bank of China, In order to give a better understanding, we'll discuss it in some detail.

Many businesses, such as department stores, restaurants, hotels and airline companies, use a credit system for selling their products and services. In a credit system, the seller agrees to sell something to the buyer without immediately receiving cash. He receives the goods or ser vices immediately and promises to pay for them later. This buy-now-pay later credit system is quite old.

There are two types of credit cards. One type is issued directly by a store to a customer. Many large department stores issue credit cards to their customers. The store credit card can be used to make purchases only at a particular store. For example, if you have a credit card from Store A, then you can only buy things in that store. Other stores would not accept it. The other kind of credit card is issued by a credit company. Credit cards from credit companies can be used to buy things almost anywhere. If you have a major credit card, you can buy airplane tickets, stay at hotels and eat at restaurant with it. Most large credit companies are connected to large banks. So if you want a credit card from a credit company, you generally have to make an application at a bank. After an applicant receives a credit card, he or she can make purchases using the

card.

The credit company sends the customer a statement of purchases at the end of each month. Generally the customer has to pay 25--50% of their credit hill every month. The customer pays directly to the credit company and the credit company pays to the store or hotel or restaurant.

There are some advantages and some disadvantages to using credit cards. The biggest advantage for the consumer is expressed by the phrase "buy now, pay later". This means that the consumer can purchase what he wants when he wants it. There is no need to save up money in advance. Another advantage of having a credit card is that it protects the owner, ff a credit card is lost or stolen, the owner only has to call the credit company and the credit company will stop the credit card number. No one else can use it. So the owner doesn't have to worry about losing the card. Another advantage of the credit card system is that the consumer receives a record of his or her purchases. Every month the credit customer receives a bill. The bill has a list of all purchases from that month. This makes it easier to remember when and where purchases are made. And another advantage is that credit cards can be used when something unexpected happens. Many kinds of professional people—plumbers, taxidrivers, doctors and dentists—will accept credit cards in an emergency. This is very important if you don't have any cash with you.

However, having said all that, using credit cards has one major disadvantage. That is, consumers tend to overspend their money. They spend more than they make. If a consumer buys a lot of th

The borrower may draw the funds from the credit aggregates within the time limit for expanding their operations.

A．Right

B．Wrong

C．Doesn't say

According to the passage, ______ can eliminate bank cheeks and the subsequent work.

A．credit cards

B．some sophisticated equipment

C．computers

D．a device of electronic transfer of funds