NO.PZ2015122801000066
问题如下：
If an arbitrageur buys common shares that trade on different stock exchanges around the world in different currencies. The security is most likely a(an):
选项：
A.global registered share.
B.American depository receipts.
C.global depository receipt.
解释：
A is correct.
Global registered shares are identical common shares that trade on different stock exchanges around the world in different currencies.
American depository receipts are US dollar-denominated securities that trade in United States.
Global depository receipts are issued outside of the company’s home country and outside of the United States as well.
本题考察的是三种不同证券的区别。
Global registered share是指一家公司为了获得全球不同投资者的投资而在不同的股票交易市场上市，并以当地的货币来发行公司股份。A正确
American deposit receipt 是指一家公司的股票通过银行托管而转换成ADR，用以在美国市场以美元交易的一种证券。因为只能在美国以美元交易，所以B错。
Global deposit receipt是指一家公司的股票通过银行托管而转换成GDR，用以在美国以外的其他市场以美元交易的一种证券。因为通常只能用美元交易，所以C错。
DGR都是美元发行的吗？
