51题库考试学习网来为大家解答：CIA考试是中文还是英文？

听力原文：M: Professor Wang, could you tell me the advantage of the preferred shares?

W: Preferred shares have certain rights, such as the preferred right to receive dividends before any ordinary dividends maybe declared.

Q: When do preferred shareholders have right to receive dividends?

(17)

A．Before any ordinary dividends are declared.

B．After any ordinary dividends are declared.

C．Before any ordinary dividends are paid.

D．After any ordinary dividends are paid.

In open-account basis the importer and exporter have established a successful working relationship.

A．Right

B．Wrong

C．Doesn't say

______ can be exercised only on the day when they expire.

A．American options

B．European options

C．Chinese options

D．Japanese options

听力原文： Currency options may have two kinds of value, intrinsic value and time value. If and to the extent that an option would currently be profitable to exercise, it is said to have intrinsic value. In the case of a call, if the spot price is higher than the option exercise price, the option has intrinsic value. In the case of a put, if the spot price is less than the option exercise price, the option has intrinsic value. Such options are said to bein-the-money'. If the opposite is true of either calls or puts, they have no intrinsic value and said to be out-of-the-money'.

28. What are the two kinds of value do currency options have?

29.When does a call option have intrinsic value?

30.What is the option said to be if it has intrinsic value?

(28)

A．Intrinsic value and time value.

B．Internal value and external value.

C．Exchange value and time value.

D．Real value and stated value.