, Banking and Finance -

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2 К , Banking and Finance -,. -. Э -., -. : К,,. BASIC INFO The admission test of Banking and Finance Master Programme is designed to assess applicants learning background in the field of banking and finance. The exam is taken as a computer test. The test consists of questions from the topics given below. The questions might be either multiple-choice questions or short calculations. The recommended literature is available through the link: Additionally applicants are encouraged to use other sources for better preparation to the admission test. Part I «Banking» 1. Commercial Bank Financial Statements; 2. Commercial Bank Capital; 3. Commercial Bank Credit Process 4. Commercial Bank Credit Policy; 5. Commercial Bank Income and Expenses 1. Choudhry M. The Principles of Banking / Moorad Choudhry. Singapore : John Wiley and Sons, p. 2. Koch T. W. Bank Management / Timothy W. Koch, S. Scott MacDonald. South-Western CENGAGE Learning, p. Part II «Corporate Finance» 1. Goals of the Corporation 2. Time Value of Money: Compound Interest, Future Values and Present Values 3. Financial Assets Valuation: Bonds and Stocks 4. Corporate Investment Decisions: Net Present Value and other investment criteria 5. Corporate Financing Decisions: Debt and Equity Capital 1. Brealey, Richard A. Principles of corporate finance / Richard A. Brealey, Stewart C. Myers, Franklin Allen. McGraw-Hill Irwin p. Part III «Financial Accounting and Analysis» 1. Accounting theory 2. Financial reporting & financial reporting standards

3 3. Accounting policy, assets, liabilities, revenues and expenses valuation 4. Financial analysis (liquidity, capacity to pay, turnover) 5. Cash Flow Statement 6. Balance Sheet (Statement on financial position) 7. Income Statement 1. Gibson C. Financial Reporting and Analysis Using Accounting Information / C. Gibson. SOUTH-WESTERN CENGAGE Learning, p. 2. IFRS e-learning Textbook 3. Weetman P. Financial and Management Accounting: An Introduction / P. Weetman. Prentice Hall p. Part IV «Money and Monetary System» 1. The meaning of money, 2. Definitions of money in economics. 3. Functions of money. 4. Evolution of the payments system. 5. Official measures of money. 6. Measures of interest rates. 7. Historical development of the banking system. 8. Introduction to the money supply process. 9. Introduction to the theory of the demand for money. 10. Aggregate demand and supply analysis. 11. Tools of monetary policy. 12. Conduct of monetary policy: goals and targets. 13. Money and inflation. 1. Mishkin F. S. The Economics of Money, Banking and Financial Markets / Frederic S. Mishkin. Pearson, p. Part V «Taxes and Taxation» 1. Retrospective analysis of the evolution of the theory of taxation 2. Evolution of theoretical views on the economic nature of taxes 3. Classifications of Taxes 4. Functions of taxes and principles of taxation 5. Tax system and optimal taxation 6. Tax burden, tax evasion and transfer of tax burden. 7. Taxes on income of individuals and corporation income tax 8. Value-added tax, excises and customs duties 9. Payments for the use of natural resources and environmental taxes 10. Property taxation and special (alternative) tax regimes 1. Buchanan J. M. Public Finance and Public Choice / James M. Buchanan, Richard A. Musgrave. MIT, p. 2. Stiglitz J. E. Economics of the Public Sector / Joseph E. Stiglitz. W.W. Norton & Company, p. Ц 25. К (180 ).

4 щ «Banking and Finance» К,. 1. What kind of decisions makes financial manager when corporation purchasing some real assets? a. Investment decisions b. Financing decisions c. Producing decisions 2. What are the agency costs of corporations? a. Costs appearing due to separation of ownership and control in corporations b. Costs paying to retailers of the corporate production; c. Costs of capital, raised for finance the corporate investments 3. What is the payback of investments? a. The sum of discounted cash flows less the amount of investment b. The number of years it takes before the cumulative cash flow equals the initial investment c. The discount rate that gives the sum of discounted cash flows equal the initial investment 4. What is the main investment criterion for corporation? a. Net present value of investments b. Book rate of return in the first year of project c. The amount of cash need for investments 5. What kind of financial assets issued by corporation forms its equity capital? a. Common stock b. Corporate bond c. Preferred stock 6. Fee for using the funds is called: a. Principal b. Maturity c. Debt instruments d. Interest 7. The necessary characteristic of money is: a. General acceptability b. Easily recognizable c. Divisibility d. All of them 8. The process by which a single deposit into a bank causes total deposits in the banking system as a whole to rise by an even greater amount is called a. The multiple expansion of deposits b. The multiple expansion of credit

5 c. The credit multiplier d. The bank multiplier 9. The inflation rate will be negative when: a. The average price level falls b. The average price level appreciates c. The average price level remains steady d. The average price level doubles. 10. The money multiplier tells us how much the money supply changes for a given change in: a. Bank s deposits b. The monetary base c. Bank s reserves d. The money demand 11. What is Bank Liquidity? a. A bank s capacity to acquire immediately available funds at a reasonable price. b. The net worth of the bank or its value to investors. 12. What levels is it possible to manage Bank Liquidity? a. At Central Bank level. b. At Commercial Bank level. 13. How may be cases of problem loans resolved? a. Liquidation. b. Foreclosure. c. Restructuring. d. Write-offs. 14. What is Credit Analysis? a. It is default risk analysis in which a loan officer attempts to evaluate a borrower's ability and willingness to repay. b. Measure of average unit borrowing costs for existing funds. 15. What is Bank management? a. This is the chief of the company. b. The process by which managers identify, assess, monitor, and control risks associated with a financial institution's activities. 16. Tax allowances include the following types: a. Tax relief b. Tax rate reduction c. Tax planning 17. Missing the tax payment deadlines leads to: a. bonuses, b. recompenses, c. penalties, d. rewards. 18. Standard VAT rate in Russian Federation is: a. 18%

6 b. 20% c. 15% 19. Total tax paid as a percantage of total income earned named: a. marginal tax rate b. average tax rate c. tax rate 20. If the effective tax rate is fixed, while the amount to which the rate is applied increases, this tax is: a. progressive b. regressive c. proportional 21. Which of the following statements best describes the concept of adequate disclosure? a. The accounting department of a business must inform management of the accounting practices used to prepare the financial statements. b. The company must inform users of any significant facts necessary for proper interpretation of the financial statements, including events occurring after the financial statement date. c. The independent auditors must disclose in the financial statements any and all errors detected in the company s accounting records. 22. Which of the following bookkeeping equations is correct? a. Liabilities = Capital + Assets; b. Capital = Assets + Liabilities; c. Capital = Assets - Liabilities; 23. Which of the following shows current assets in order of liquidity, starting with the most liquid item? a. Cash, stock, debtors, bank; b. Bank, cash, debtors, stock; c. Cash, bank, stock, debtors; 24. Patents is the part of: a. tangible assets; b. intangible assets; c. liabilities; 25. Which of the following financial statements provides information about a company as of a specific point in time? a. Income statement b. Statement of changes in equity c. Balance sheet