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V. Answer the following questions in English:本大题共4小题,每小题5分,共20分。
36. What is a free trade area?
37. What does inte mational business refer to?
38. What is insurable interest?
39. What is an irevocable ltter of credit?
VI. Translate the fllowing into Chinese:本大题共2小题，第40小题7分,第41小题8分,共15分。
40. The operation of the letter of credit starts with the importer. He instructs his bank to issue an L/C in favor of the seller. Here the importer is alled the applicant, or opener, the bank that issues the credit is called the opening bank, and the exporter is called the beneficiary.
41. Many people save or invest money in some fomm or other. The International Stock Exchange exists to provide a channel through which these savings can reach those who need finance. The Internatonal Stock Exchange is a capital-raising market, where long-temn capital in the formn of tnadable securities can be raised by companies and govemments.
VII. Translate the following into English:本大题共5小题,每小题5分,共25分。
42.第一次世界大战以前,金本位制建立了固定汇率制,每个国家都将本国货币与黄金挂钩。
43.国际经济新秩序主要是要求发达国家提供现金和贸易方面的优惠。
44.尽管有很多好处，反向贸易可能是风险很大的事。
45.经济全球化为世界经济发展提供了新的机会,同时也使各经济体更加相互依赖。
46.商业发票对货物的质量和数量以及单价和总价进行概括性描述。