Thestockexchangeisamarketplaceforthebuyingandsellingofs...

欄目: 練習題 / 發佈於: / 人氣:3.11W

問題詳情：

The stock exchange is a market place for the buying and selling of shares, or government securities (有價*券). Buying and selling in the stock exchange are carried out by two kinds of dealers: brokers and jobbers .

Members of the public cannot transact (交易) business in the stock exchange. Anyone wishing to buy or sell shares must employ a stock-broker who will charge fee for the service. Jobbers work within the exchange and do not deal directly with the public. All their business is transacted with brokers and they act as principals rather than agents. This means that they buy and sell shares on their account and their profits depend on the success of their trading. They hope to judge the market trends so that they sell shares at higher prices than those that they paid for them. These are the differences between the responsibilities of a broker and a jobber.

There is, therefore, competition between the jobbers who must adjust their prices according to changes in supply and demand. If they set their buying prices too high, they will find themselves buying huge quantities of shares that they might have to get rid of at a loss. If they fix their prices too low , they will find themselves taking large orders for shares that they do not possess. They must , however , buy the shares that they have agreed to supply to the brokers. It could happen that they will find themselves paying higher prices than those at which they have agreed to sell. Jobbers tend to specialize in shares of companies in particular industries such as shipping, mines (礦藏), oil, land, property and so on. The largest single market in the stock exchange, however, is that in government securities.

1．The dealing of the buying and selling stocks is done in the circulation of ________ .

A．the broker —— the jobber —— the exchange —— the public

B．the jobber —— the exchange —— the broker —— the public

C．the public —— the broker —— the exchange —— the jobber

D．the exchange —— the jobber —— the broker —— the public

2．Which of the following is NOT true according to the passage?

A．In stock exchange, both shares and securities are bought and sold.

B．Concerning responsibilities, brokers and jobbers play the same role in the stock exchange.

C．A stockbroker buys and sells shares mainly for fees.

D．Successful jobbers must have a wide range of knowledge of the companies on the market.

3．According to the passage, business transaction in the stock market is mainly done by

_________.