剑桥商务英语中级模拟100.docx
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剑桥商务英语中级模拟100.docx
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剑桥商务英语中级模拟100
Test8
READING
PARTONE
Questions1-7
·Lookatthestatementsbelowandpassagesonbanksystemsinfourcountriesontheoppositepage.
·Whichsection(A,B,CorD)doeseachstatement(1-7)referto?
·Youwillneedtousesomeoftheselettersmorethanonce.
1.Bankindustryisdevelopingundertheregulationofbankinglaws.
2.Traditionalbankingsystemwhichhascontributedtothestabilityoffinancialinstitutionsinhistorybecomesclumsyandcostlyinthiscountry.
3.Badloansareoneofthefactorswhichaffectpeople'sconfidenceinbanks.
4.Banksinthiscountryaretakingpainstoincreasemarketshareandsavecosts.
5.Supervisingtoolsforbanksinthiscountryhavechangedalotinthepastyears.
6.Thegovernmentinthiscountryhastriedhardtoregainpeople'sconfidenceinitsbankingindustry.
7.Somebanksinthiscountryprovidedifferentkindsoffinancialserviceproductssuchassaving,lendingandinsurance,etc.
A.Enteringthe21stcenturyUKbanksappeartobeattheirstrongestfordecades.ConsolidationandrestructuringhaveoccurredatarapidpaceManymergersandacquisitionsareundertakenwiththeaimofincreasingorprotectingmarketshare,improvingshareholdervaluegettingcostsavings,improvingeconomiesofscaleorgeneratingnewcross-sellingopportunities.Britainnowhassixuniversalbanksofferingawiderangeoffinancialserviceproductsincludingcorporateandpersonallending,saving,insuranceandotherpersonalfinanceproducts.
B.TheOCC(OfficeoftheComptrolleroftheCurrency)supervisesnationalbanksandenforcesfederalbankinglaws.Itrules:
onnewcharteraridmergerapplicationsfornationalbanks,andconductsbasicresearchonbankingandtheeconomy.Thetoolshavechanged,butfortheOCC,thebasicmissionremainsthesameasinthedaysofLincoln:
toensureasafe,soundandcompetitivenationalbankingsystemthatsupportsthecitizens,communities,andeconomyoftheUnitedStates.
C.Today,thefinancialinstitutionsofJapanarewellonthewaytoregainingrobusthealth.Therecoveryisgoingwellenoughthatthegovernmenthasremovedpartiallyoneofthemeasuresthathashelpedmaintainpublicconfidenceinthefinancialsystem—anunlimitedguaranteeonbankdeposits.Since1996,thegovernmenthasofferedanunlimitedguaranteeonbankdeposits--asupportforfinancialinstitutionswhichpermitteddepositorstoignorefundamentalquestionsabouttheviabilityandstabilityoftheirbanks.Evenmoreencouraginghasbeentheprogressthebankshavemadeinreducingtheirnon-performingloans.Theratioofbadloansinthelargestbankshasbeencutinhalf.
D.ThestabilityoftheGermanbankingsystemishistoricallybasedontheuniversalbankingapproach.Doingbusinessthroughdiversifiedbankinginstitutionsand/orbankgroupshashistoricallyallowedforriskmitigationovervariousbusinesslines.However,thedrivingforcesbehindthestructuralchangesareincreasinglyprovinguniversalbankingastoocumbersomeandcost-intensive.Thebankingindustryiscurrentlyintheprocessofmakingadjustmentstotheorganizationatstructureandstrategicpositioningofbankconglomerates,bankgroupsandstrategicallianceswithmoresignificantmeasurestofollow.Thebanksaremakingstrongeffortstofocusoncorebankactivities,touseexistingcapitalresourcesmoreefficiently,toclosedownretailbranches,andtobundleoroutsourceback-officefunctions.
PARTTWO
Questions8-12
·Readthistexttakenfromanarticleaboutproductionandcircularflow.
·Choosethebestanswerfromtheoppositepagetofilleachofthegaps.
·Donotuseanylettermorethanonce.
·Thereisanexampleatthebeginning(0).
ProductionandtheCircularFlow
Economicsdealswiththeproduction,distribution,anduseofgoods,includingmaterialgoodsorcommoditiesandnonmaterialgoodsorservices.Agoodisafreegoodifthereissomuchofitthatpeoplecanhavealltheywantatazeroprice.Springwaterisanexample.(0)GCoffeeonthesupermarketshelfisanexample.Economicsdealsonlywithscarcegoods,sincefreegoodspresentnoproblemsofsupplyordistribution.
TheAmericaneconomyisusuallycalledaprivateenterpriseeconomy,oramarketeconomy.Governmentproducessomegoodpoliceandfireprotection,publiceducation,streetsandhighways.(8)Weusethisterminabroadsense.Afarmisabusiness.Soistheofficeofadoctor,lawyer,orotherprofessionalpersons.Insteadofbusinesswecouldsayproducingunit,buttheformertermissimplerandmorefamiliar.
Inordertocarryonproduction,abusinessneedsinputs,alsocalledfactorsofproduction.(9)Labourmeansanykindofphysicalormentaleffortexertedonproduction.Itincludestheworkofthecorporationexecutive,lawyer,orcollegeteacheraswellasthatofthefarmer,salesclerk,orplumber.
(10)Ineverydayspeechitisoftenusedtomeanasumofmoneyrepresentingtheassetsofacorporationoranindividual.Wesaythatacompanyhasacapitalof$200baconorthatapersonisworth$200,000.Suchsumsofmoneyareimportant;butwhenthatiswhatwemean,weshouldbecarefultosayfinancialcapital.
Ineconomics,thetermcapitalusedalonemeansphysicalcapital,orinstrumentsorproduction.(11)Soisthebuilding,whichhousesthemachines.Soisanybuildingusedforproduction—adepartmentstore,anofficebuilding,ahotelRawmaterialsandsemi-finishedgoodsinthehandsofproducersarealsocapitals.
Thefactorsofproductionareownedbyindividuals.(12)Doesn'ttheCoca-ColaCompanyowntheplantsandmachineryitoperates?
Yes,butwhoownsCoca-Cola?
Thecompany,andthusallofitsassets,belongstothemanythousandsofpeoplewhoowncommonstockinthecompany.
A.Themostimportantinputsarelabourandcapital,whichhaveaspecialmeaningineconomics.
B.Inthecaseofenterprisesandcompanies,thismaynotseemtobetrue.
C.Ofcourseitistrue,butmostgoodsareproducedbybusinesses.
D.Machineryinanautomobileassemblyplantiscalledcapital.
E.Capitalandlabourarefactorsofproduction,amongwhichlabourplaysanimportantrole.
F.Asfarasthetermcapitalisconcerned,itisespeciallyconfusing.
G.Agoodisscarceifthereisnotenoughofitforeveryonetohavealltheywantatazeroprice.
PARTTHREE
Questions13-18
·Readthearticlebelowaboutinsuranceandthequestionsontheoppositepage.
WhyWeNeedInsurance?
Insuranceisacoverusedforprotectingoneselffromtheriskofafinancialloss.Itisimportanttounderstandthatriskisapartofanyperson'slifeandthatitincreasesasapersonincreasesinage,responsibilityandwealth.Throughoutthelivingexistence,everyoneisfacedbynumerousrisks--failinghealth,financiallosses,accidentsandevenfatalities.Insuranceaddressesalltheseuncertaintiesonfinancialterms.Insuranceisriskcoverageagainstfinanciallossesandshouldnotbetakenasaninvestmentinstrument.
Everyoneneedsinsuranceiftheyareworriedabouteconomicloss,oriftheylosesomething.Thepurposeofinsuranceistogivethempeaceofmind.Havingtherightkindofinsurancecoverageisanessentialpartofbuildingasolidfinancialfuture.Insuranceprotectspeoplefromriskandguaranteesthat,oncetheyaccumulateassets,theywillbeabletokeepthem.Thebasicdefinitionofinsuranceisriskmanagement.Therearemainlytwopartiesinvolvedinthis--theinsurerandtheinsured.Theinsureristheinsurancecompanywhowillprovidethecovertotheinsuredagainstanyfinanciallosses.Theinsuredmaybeanindividualpersonoragroupofpeoplelikeanemployer,membersofasociety,etc.
Apolicyisthecontractbetweentheinsurerandtheinsured,whichstatestheriskscovered,theexclusions,ifany,andthebenefitsreimbursedonthehappeningofaneventlikedeath,illnessetc.Thepolicyispaidthroughwhatiscalledapremium,whichisasetamountthatmustbepaidbytheinsuredonamonthly,semi-annualorannualbasis.Onthehappeningofaneventlikedeath,disability,fire,etc.,forwhichtheinsurediscovered,thebenefitamountstatedinthepolicycontractcanbeclaimedbytheinsured.
Thewayinsurancegoesisthatthepremiumplusthousandsorsometimesevenmillionsofotherpeople'spremiumsgotogetherinabigpool.Theinsurancecompaniesusethatpool.Theyinvestit,andthentheypayitwhenthere'saclaim.
There'spropertyandcasualty,andlifeandhealthinsurance.Lifeandhealthinsuranceincludeslife,disability,healthinsurance,long-termcareinsurance.Propertycasualtyinsuranceisatypeofinsurancethatinsuresone'shome,auto,andairplane,thingslikethat.Changeisperhapsthatonlystaticconstantwithinthedynamicsoflifeandrisksalwaysmoveintandemwithinachangingenvironment.Lifeinsuranceismoreofahedgingmechanismratherthanarealinvestmentavenue.Itisessentiallyamechanismthateliminatesrisksprimarilybytransferringtheriskfromtheinsuredtotheinsurer.
Itisnotthatlifeandexistenceareconstantlyfraughtwithdangeranduncertainty.Butitisessentialthatpeopleplanforthefuture.Thechancesforafatalityoraninjurytooccurtotheaverageindividualmaynotbeparticularlyhighbutthennoonecanreallyaffordtocompletelydisregardhisorherfuture.Insuranceisthemostreliabletoolanindividualcanusetoplanforhisfuture.
13.Whatcaninsurancedoforpeople?
A.Insurancecanprotectpeoplefromagreatvarietyofrisks.
B.Insurancecanaddressnumerousrisksonfinancialterms.
C.Insurancecanbetakenasaninvestmentinstrument.
D.Insurancecanhelppeopledealwithfailinghealth.
14.Accordingtothethirdparagraph,howoftencanthei
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