Ⅰ.Translate the following words and expressions(10%):

1)From English into Chinese
a.compound duties
b.documentary collection
c.sales confirmation
d.preferred stock
e.GDP per capita

2)From Chinese into English
a.保护主义
b.无支付能力的
c.交(货)
d.到岸价
e.股东

Ⅱ.Match the words and expressions on the left with the explanations on the right.There are two additional choices on the right(5%):

1)drawback        (     )  a.duties imposed on goods imported and exported
2)terms of trade   (     )  b.the right to collect from an endorser a payment of loss
3)title        (     )  c.duties on imports that are refunded when reexported
4)deposit     (     )  d.right to the possession of a position or property
5)hyperinflation  (     )  e.the relation of export and import prices
                                         f.soaring of prices beyond control
                     g.money paid as part of the payment owed

Ⅲ.Make brief explanations of the following terms in English(20%):
1.international trade
2.transferable credit
3.insurance
4.MNC
5.commercial invoice

Ⅳ.Fill in each of the following blanks with an appropriate word from the list(10%):
economic       orders         speculative      protection
risk           insurable      loss             renewed
transfer       financial      charged          policy

    Perhaps the most common method of dealing with risk is to shift,or 1)______,the risk to an insurance company.An insurer (or insurance company) is a firm that agrees,for a fee,to assume 2)______ responsibility for losses that may result from a specific risk.

    The fee 3)______ by an insurance company is called a premium.A contract between an insurer and the person or firm whose risk is assumed is known as an insurance 4)______.Generally,an insurance policy is written for a period of one year.Then,if both parties are willing,it is 5)______ each year.It specifies exactly which risks are covered by the agreement,the dollar amounts the insurer will pay in case of a 6)______,and the amount of the premium.

    Insurance is thus the 7)______ against loss that the purchase of an insurance policy affords.Insurance companies will not,however,assume every kind of risk.A risk that insurance companies will assume is called an 8)______ risk.A risk that insurance companies will not assume is called an uninsurable risk.