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Securities exchange. Most common and most unrestricted type of bank

Шпаргалка

Банковское дело и рынок ценных бумаг

Most common and most unrestricted type of bank, allowed the most latitude in its services and investments are called, despite the measures taken last year to cut their risky investments and the overall size of their portfolios.

Английский

2012-11-17

304 KB

15 чел.

Variant 1

1. Generally accepted unit of trading on a securities exchange is called…

a) round lot c) volume of trading

b) odd lot  d) market lot

2. An employee of a stock exchange who accepts buy and sell orders from customers is...

a) exchange broker c) floor broker

b) RR d) specialist

3. Maximum number of shares of any class a company may legally create under the terms of its article of incorporation.

a) outstanding stock c) common stock

b) preferred stock d) authorized stock

4. A freebie is ....

a) a promotional gift c) an illustrated booklet for advertising products

b) a specialized journal published regularly d) a small-sized newspaper

5. A preferred stock is a stock which bears some resemblances to ...

a) warrant c) option

b) a bond d) futures

6. In most cases the preferred dividend is cumulative, which means that if it isn't paid in a given year, it is owed by the company ... the preferred stockholder.

a) with c) by

b) to d) before

7. Agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a stipulated future date is ...

a) warrant c) option

b) right d) futures contract

8. The importance of daily changes in the ... will be clear if you view them in percentage terms.

a) market c) averages

b) exchange d) futures contract

9. The way in which a bank is organized and operates is determined ... its objectives.

a) to c) by

b) on d) with

10. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) are developing c) have developed

b) developed d) have been developed

11. This can be seen most directly ...looking at the typical organization chart for large versus small banks.

a) at c) by

b) on d) -

12. Most common and most unrestricted type of bank, allowed the most latitude in its services and investments are called:

a) retail banks c) unit banks

b) commercial banks d) central banks

13. An order to buy or sell a stock once the price of the stock reaches a specified price is called:

a) market order c) stop order

b) limit order d) time order

14. A member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange is called:

a) specialist c) floor broker

b) broker-dealer d) commission broker

15. A Japanese manager concentrates on ... his group to work together.

a) to get c) getting

b) get  d) having got

16. Where a bill is payable ... a time in the future it is known as a term bill.

a) on c) for

b) at d) before

17. When the manager arrived, the problem….

a) had already been solved  c) had solved

b) had already solved  d) was sold

18. Our plan … by the members of the committee this week.

a) considers c) is considered

b) is being considered d) has been considered

19. Over 57 million students in American schools which range from kindergartens to high schools.

a) were enrolled  c) has been enrolled

b) are enrolled  d) have been enrolled

20. A decision … until the next meeting.

a) has not been made c) will not be made

b) will not made  d) will have been made

21. Bonds that are not backed by specific assets.

a) debentures c) T-bond

b) junk bonds  d) unsecured loans

22. Market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds rather than on the floor of an exchange.

a) securities market c) stock exchange

b) stock market d) OTC

23. Last reported price at which a security was sold on an exchange.

a) high price c) market price

b) last price d) bid price

24. A compensation payment in addition to regular wages or salary.

a) perks c) bonus

b) fringe benefits d) commission

25. A charge or payment for a service or privilege

a) perks c) bonus

b) fee d) commission

26. A newspaper financed entirely by adverts

a) freesheet c) colour supplement

b) tabloid d) pamphlet

27. Some people don’t care … studying this particular field, but I do.

a) about c) for

b)on d) in

28. I don't want to argue … anyone about that.

a) about  c) with

b) on  d) of

29. I think perhaps we all dream ... working for ourselves.

a) about c) with

b) on d) of

30. I am looking forward ... exploring my options.

a) about c) for

b) to d) of

31. A sum of money lent at interest

a) open-book credit c) equity

b) trade draft d) loan

32. The system by which one currency is converted into another, enabling international transactions to take place without the physical transportation of gold.

a) foreign exchange c) WTO

b) stock exchange d) SEC

33. A change in an exchange rate.

a) spread c) volatility

b) currency fluctuation d) swing

34. Assets pledged as security for a loan.

a) collateral c) mortgage

b) insurance d) equity

35. A person who buys and sells securities with the goal of profiting from short-term price swings.

a) specialist c) trader

b) floor broker d) dealer

36. The delivery of a security by a seller and its acceptance by the buyer.

a) transaction c) acceptance

b) factoring d) balance

37. A loan repaid with interest in equal periodic payments.

a) hire purchase c) installment loan

b) debt capital d) accounts receivable

38. Loans that have been made or bought and are being held for repayment.

a) loan portfolio c) position

b) credits d)accounts receivable

39. If you try hard, you can succeed... reaching your goal.

a) to c) for

b) at d) in

40. A company whose securities are traded on an organized exchange

a) holding company c) listed company

b) mortgage company d) regulated company

Variant 2

1. A very short text accompanying a picture -

a) freesheet c) caption

b) tabloid d) livery

2. A small promotional leaflet —

a) freesheet c) colour supplement

b) tabloid d) flier

3. An information document produced by school, university or company-

a) prospectus c) pamphlet

b) tabloid d) flier

4. Benefits other than wages, salaries and bonuses, often known as “perks”.

a) fringe benefits c) bonus

b) fee d) commission

5. Most people aren't accustomed ... working hard.

a) to c) for

b) at d) in

6. If you try hard, you can succeed … reaching your goal.

a) to c) for

b) at d) in

7. I'd like to be in charge... managing a company.

a) about c) for

b) of d) in

8. I will need to concentrate ... studying Business.

a) about c)for

b) on d) in

9. It s important not to worry ... being successful right off: it takes time

a) about c) for

b) to d) of

10. A hundred mile trip might be completed ... two days.

a) in с) for

b) at d) during

11. He has to get there... time for his speech at a conference.

a) in c) for

b) at d) during

12. The conference begins ... April 6th, 2008.

a) in c) for

b) at d) on

13. He will start his talk at 3:30,... time.

a) in c) for

b) on d) at

14. A decision … until the next meeting.

a) has not been made c) will not be made

b) will not made d) will have been made

15. The term of the ... may be fixed, periodic or of indefinite duration.

a) lease c) purchase

b) equity d) mortgage

16. Despite the measures taken last year to cut their risky investments and the overall size of their portfolios "the big banks' overall ... ... continues to be material.

a) gross losses c) credit rating

b) risk exposure d) essential risk

17. For mutual funds, … … usually occurs in the US the day following the trade.

a) maturity day c) settlement day

b) issue day d) encashment

18. For example, investors holding securities must … the certificate before delivery to the broker, i.e. to sign a negotiable instrument in order to transfer it to another party.

a) hedge c) draw

b) issue d) endorse

19. ... notes  are generally used as evidence of debt

a) credit. c) debit

b) promissory d) bank

20. For example, with a check, the ... is the party writing the check who demands mat his/her bank pay to some third party the indicated amount of money,

a) drawee c)payer

b) drawer d) payee

21. Price-earnings ratio represents a key figure ... judging the value of stocks.

a) by c) of

b) to d) in

22. The list of instruments includes electronic transactions, paper currency, checks, and signed, written orders called....

a) bills of exchange c) hire purchase

b) promissory notes d) trade draft

23. Similarly, a ... in an option means that you have sold the option, giving die holder the right to exercise and committing yourself to fulfilling the terms should exercise occur and you're assigned to meet them.

a) long position c) total position

b) open position d) short position

24. The effect of a … … is that the cheques can only be paid into an account with the specified bank or specified branch indicated on the crossing which it bears across its face.

a) general crossing c) endorsement

b) special crossing d) negotiation

25. Money available for a client to borrow.

a) credit c) equity

b) open-book credit d) trade draft

26. Withdrawal of money in excess of the credit balance on a bank or building-society cheque account

a) hire purchase c) overdraft

b) accounts receivable d) installment loan

27. It combines the highest bid to buy and the lowest ask to sell a stock.

a) average c) listing

b) quotation d) negotiation

28. Assets with monetary value, such as stock, bonds, or real estate, which are used to guarantee a loan.

a) insurance c)equity

b) mortgage d) security

29. The buying of a security such as a stock, commodity, or currency, with the expectation that the asset will rise in value.

a) long position c) total position

b) open position d) short position

30 Compensation based upon time worked for a week, month or year rather than for an hour

a) pro rata c) piece work

b) salary d)wage

31. The final payment date of a loan or other financial instrument, at which point all remaining interest and principal is due to be paid.

a) maturity c) paying off

b) settlement d) repayment

32. The agreed upon price of an assets in a forward contract.

a) general cost c) forward value

b) forward rate d) total cost

33. A legal document, which confers a right on one person to possess property belonging to another person to exclusion of the owner landlord.

a) lease c) title

b) mortgage d) ownership right

34.Compensation based on an agent's sales performance. –

a) pro rata c) piece work

b) commission d) brokerage

35. But while a bond is scheduled ... by the corporation on a certain "maturity" date, a preferred stock is ordinarily a permanent part of the corporation's capital structure.

a) to redeem c) to be redeeming

b) to have been redeemed d) to be redeemed

36. The reason is that for corporations ... to invest for fixed income, preferred stocks carry a tax advantage over bonds.

a) to desire c) to be desiring

b) to have desired d) desiring

37. As a result, such corporations generally bid the prices of preferred stocks up above the price that would have to be paid for a bond ... the same income.

a) to provide c) having provided

b) providing d) to be provided

38. Bonds issued by state and local governments and governmental units are generally ... to as "municipals" or "tax-exempts".

a) referred c) being referred

b) referring d) to be referred

39. Any investment readily convertible into cash.

a) negotiable securities c) book-entry securities

b) marketable securities  d) notes payable

40 Type of security, usually issued together with a bond or preferred stock that entitles the holder to buy a proportionate amount of common stock at a specified price, usually higher than the market price at the time of issuance, for a period of years or to perpetuity.

a) right c) option

b) warrant d) futures

Variant 3

1. The … for assets is the difference between the price available for an immediate sale (bid) and  immediate purchase (ask).

a) difference c) spread

b) rate d) exchange

2. The date on which either cash (for a buyer) or a security (for a seller) must be in the hands of the broker in order to satisfy the conditions of a security transaction.

a) maturity c) repayment

b) paying off d) settlement date

3. U.S. government bonds are regarded as ... investors with the ultimate in safety.

a) to provide c) having provided

b) providing d) to be provided

4. Sometimes the … also monitors the relationship with the borrower after the loan closes; other times this is taken over by someone else.

a) bank teller c) loan officer

b) commercial director d) deputy officer

5. The … … gives the holder the right but not the obligation to buy or sell a set amount of the currency at a certain exchange rate on or before the expiration date.

a) currency option c) spot contract

b) forward contract d) futures contract

6. Rapid changes are occurring in today's national and international business environment, contributing to increased ... ... across supply chains and operational functions.

a) profit share c) risk exposure

b) paying off d) currency fluctuations

7. ... is a written promise made by one party to make a stated payment in full by a certain date.

a) promissory note c) hire purchase

b) overdraft d) secured bond

8. A check that is duly signed, but the amount of the check is left blank to be supplied by the …

a) drawer c) endorser

b) endorsee d) drawee

9. … … are often used in international transactions, and the holder of such a bill may redeem it in cash immediately by selling it to a bank at a discount.

a) bills of lading c) bank bills

b) bills of exchange d) bills account

10. A … … means you have borrowed shares through your broker, sold them, and must return them, plus interest, at some point in the future.

a) maturity c)short position

b) paying off d) settlement date

11. The basic idea of foreign exchange dealing is making profit on selling and buying....

a) securities c)bonds

b) shares d) currencies

12. The … …  is the expected yield on a given fixed-income security at a particular time in the future.

a) forward rate c) analytical multiple

b) p-e ratio d) profit share

13 Cheques are familiar ...  most people, because they finance nearly all domestic transfers.

a) with  c) for

b) to  d) about

14. Bills of exchange are not so well known but are used extensively ... the settlement of international trade.

a) in c) for

b) at d) on

15. B accepted it … signing his name vertically across the bill.

а)in c) by 

b) at d) on

16. A's bill drawn ... in sterling might look something like this.

a) in c) for

b) up d) on

17. The date mentioned is the date of the bill, so payment is due to be made to A ... 4-th April

a) in  c) for

b)at d) on 

18. Companies that invest money entrusted to them by others

a) private investors с) speculators

b) institutional investors d) hedgers

19. Price-earning ratio represents a key figure … judging the value of stock.

a) by c) of

b)- d) in

20. More often there are three parties … a bill.

a) in c) for

b) to d) on

21. P becomes the payee ... the bill and will eventually get the money until he passes the title on someone else by endorsing it.

a) of c) for

b) to d) on

22. Special endorsement would specify the person … whom аbill or cheque is to be payable.

a) to c) for

b) at d) on

23. Where a bill is payable ... a time in the future it is known as a term bill.

a) in c) for

b) at d) on

24. Banks may ... as firms producing and selling financial services.

a) define c) defining

b) be defined d) to be defined

25. The service menu of banks does not remain unchanged as new services constantly... and developed by commercial banks.

a) are introduced c) are being introduced

b) are introducing d) have been introduced

26. The 1980s ... in an explosion of new service options.

a) were ushered c) ushered

b) had ushered d) had been ushered

27. Other innovative services, however,... new ground and exposed bankers to all the uncertainty and risk associated with new product development.

a) broke c) are breaking

b) have broken d) were breaking

28. In ... trust services the bank places itself as authorized agent between the marketplace and the customer.

a) having offered c) offering

b) offered d) offer

29 This may involve ... securities on the business customer s behalf.

a) to issue с) having issued

b) issuing d) to be issued

30. The trust department will set up and manage a sinking fund, investing all monies that the bond issuer contributes to that fund periodically with the intent of eventually … the bond issue.

a) to redeem b) being redeemed

с) having redeemed d) redeeming

31. A bank’s trust department will receive and hold any credit letters … by other lending institutions.

a) being issued  c) issued

b) issuing d) to issue

32. For generations banks … loans to finance the constructions of business facilities and private houses.

a) have made c) were made

b) made d) are making

33. Banks … lending and investment operations have the use of the money of their clients from the moment they pay their money into the bank till the moment they draw it out.

a) carried c) to carry

b) carrying d) being carried

34. It is worth ... that banks have been eager in recent years to attract the accounts of even quite modest private people.

a) to mention c) mentioning

b) to be mentioned d) being mentioned

35. Products that- bear only the name of the item, not of its producer, and which are sold at lower than normal prices. -

a) generic products c) trade marks

b) brands d) wholesale products

36. Any investment readily convertible into cash.

a) negotiable securities c) book - entry securities

b) marketable securities d) notes payable

37. Debts that the company will have to pay within one year.

a) current liabilities c) notes receivable

b) debentures d)notes payable

38. Bank clerk or cashier.

a) ATM с) loan officer

b) teller d) bank manager

39 Significant assets that will have a life of many years, such as land, new buildings, roads, etc.

a) current assets c) capital items

b) equity d) real estate

40. These are products that are purchased infrequently. The consumers will conduct extensive research to make sure that their purchase decision is right, because they are expense and infrequent purchases.

a) generic products c) trade marks

b) brands d) specialty goods

Variant 4

1. Generally accepted unit of trading on a securities exchange is called

a)round lot c) volume of trading

b) odd lot d) market lot

2. The bill which is payable ... sight (or on demand) is called a sight bill

a) in c)for

b) at d) on

3. The bill can be dishonoured ... either of these stages (by non-acceptance or by non-payment) and protested.

a) in c) for

b) at d) on

4. Banks used to accept the bills ... behalf of their customers.

a) in c) for

b) at d) on

5. Some holders of bills wanted to have the money immediately and sold them ... less than the sum of money promised.

a) in c)for

b) at d) on

6. The financial institutions which specialize ... buying bills at a discount are called discount houses.

a) in c) for

b) at d) on

7. They buy bills, then collect the proceeds ... the day of maturity and make a profit

a) in c) for

b) at d) on

8. A cheque is a special form of a bill of exchange, namely, one payable ... demand.

a) in c) for

b) at d) on

9. If we look at the form of a cheque we shall see that it is an order to the bank from a depositor of this bank for money to be paid ... his account.

a) out of c) for

b) from d) on

10. Cheques like bills of exchange may change hands and are still good ... payment.

a) in c) for

b) at d) on

11. The cheque must be paid ... any bank account.

a) into c) for

b) at d) on

12. An order to buy or sell a stock once the price of the stock reaches a specified price.

a) limit order c) stop order

b) time order d) market order

13. A widespread aggregation of dealers who make markets in many different securities. Unlike an exchange on which trading takes place at one physical location, the trading occurs through telephone or computer negotiations between buyers and sellers.

a) stock market c) securities market

b) stock exchange d) over-the-counter market

14. Any of a number of government offices established to collect and supply to the unemployed information about job vacancies and to employers information about availability of prospective workers.

a) stock market c) headquarters

b) PR department d) labour exchange

15. A future financial obligation or contingent liability

a) debenture c) commitment

b) acquisition d) brokerage

16. The minimum quality of a security requires for regular trading purposes.

a) round lot  c) odd lot

b) unit of trading  d) volume of trading

17 the  conventional unit or quantity in which commodities or securities are bought and sold.

a) unit of trading c) volume of trading

b) round lot d) odd lot

18. The commission of a broker.

a) brokerage c) bonus

b) fee d) piecework

19. The difference between the bid and ask prices for a particular security.

a) spread c) listing

b) quotation d) rate

20. A member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange.

a) broker c) specialist

b) dealer d) trader

21. A firm that functions both as a broker by bringing buyers and sellers together and as a dealer by taking positions of its own in selected securities.

a) dealer c) trader

b) specialist d) broker-dealer

22. The way in which a bank is organized and ... is determined by its objectives.

a) operates c) operated

b) is operated d) being operated

23. The first and most important function of a central bank is to accept responsibility for... the government on the making of the country's financial policy.

a) advise c) advice

b) advising d) having: advised

24. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) developed c) develop

b) have developed d) are developed

25. A commercial bank which provides the same range of services year after year less is likely ... successful.

a) to have been c) being

b) have been d) to be

26. Successfully ... in the constantly changing global business environment requires market-driven strategies.

a) compete c) competition

b) competing d) having competed

27. This trend forced bank managers ... more concerned with service marketing activities and with profitability and growth.

a) become c) to have become

b) becoming d) to become

28. Banks are usually organized to follow their functions and supply the services ... by them as efficiently as possible.

a) demanded  c) to demand

b) demand d) to be demanded

29. A bank's size is also a significant factor in ... how banks are organized.

a) determining b) determine

с) to determine d) determined

30. This bank is heavily committed to … smaller consumer-oriented deposits and making consumer installment and small business loans

a) to attract  с) attracting

b) attract d) having attracted

31. The service operations of a small bank usually are monitored by a cashier and auditor... in the accounting division.

a) to work c) work

b) worked d) working

32. The tendency in recent years ... for most banking institutions to become more complex organizations.

a) has been  c) is

b) was  d) to be

33. Each … is due on the first of the month.

a) payment c) interest

b) wage  d) dividend

34. ... is selling stock that is borrowed from a broker in the hope of buying it back later at a lower price.

a) trade c) round lot

b) selling short d) odd lot

35. The most common way investors determine whether the market is bullish is to watch ...

a) tables c) market

b) market averages d) exchange rates

36. … … … … tracks the prices of 30 blue-chip stocks traded on the stocks.

a) market average c) financial table

b) Standard & Poor's 500 d) Dow Jones Industrial Average

37. Lloyd's is one major … … in the UK.

a) commercial banks c) block traders

b) insurance companies d) stock exchanges

38. ... is computed by dividing a stock market price by its prior year's earnings per share.

a) yield rate c) profit share

b) exchange rate d) price-earning ratio

39. The accounts have not yet been ....

a) audited c) profited.

b) conducted d) accepted

40. The broker asked the client to increase the on a high-risk deal.

a) profit share c) transaction cost

b) exchange rate d) yield rate

Variant 5

1. An employee of a stock exchange who accepts buy and sell orders from customers is...

a) exchange broker c) floor broker

b) RR d) specialist

2. A freebie is ....

a) a promotional gift c) an illustrated booklet for advertising products

b) a specialized journal published regularly d) a small-sized newspaper

3. In most cases the preferred dividend is cumulative, which means that if it isn't paid in a given year, it is owed by the company ... the preferred stockholder.

a) with c) by

b) to d) before

4. The importance of daily changes in the ... will be clear if you view them in percentage terms.

a) market c) averages

b) exchange d) futures contract

5. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) are developing c) have developed

b) developed d) have been developed

6. Most common and most unrestricted type of bank, allowed the most latitude in its services and investments are called:

a) retail banks c) unit banks

b) commercial banks d) central banks

7. A member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange is called:

a) specialist c) floor broker

b) broker-dealer d) commission broker

8. Where a bill is payable ... a time in the future it is known as a term bill.

a) on c) for

b) at d) before

9. Our plan … by the members of the committee this month.

a) considers c) is considered

b) is being considered d) has been considered 

10. I should have listened to you. I wish I ...your advice

a) had taken c) took

b) would take d) have taken

11. Market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds rather than on the floor of an exchange.

a) securities market c) stock exchange

b) stock market d) OTC

12. A compensation payment in addition to regular wages or salary.

a) perks c) bonus

b) fringe benefits d) commission

13.A newspaper financed entirely by adverts

a) freesheet c) colour supplement

b) tabloid d) pamphlet

14. I don't want to argue ... anyone about that.

a) about c) with

b) on d) of

15. I am looking forward ... exploring my options.

a) about c) for

b) to d) of

16. The system by which one currency is converted into another, enabling international transactions to take place without the physical transportation of gold.

a) foreign exchange c) WTO

b) stock exchange d) SEC

17. Assets pledged as security for a loan

a) collateral c) mortgage

b) insurance d) equity

18. The delivery of a security by a seller and its acceptance by the buyer.

a) transaction c) acceptance

b) factoring d) balance

19. Loans that have been made or bought and are being held for repayment.

a) loan portfolio c) position

b) credits d) accounts receivable

20. Bonds that pay a high interest rate because of the low credit rating of the borrower.

a) secured bonds c) junk bonds

b) convertible bonds d) income bonds

21. A small promotional leaflet —

a) freesheet c) colour supplement

b) tabloid d) flier

22. Benefits other than wages, salaries and bonuses, often known as "perks".

a) fringe benefits c) bonus

b) fee d) cornmission

23. If you try hard, you can succeed... reaching your goal.

a) to c) for

b) at d) in 

24. I will need to concentrate ... studying Business.

a) about c) for

b) on d) in

25. A hundred mile trip might be completed ... two days.

a) in c) for

b) at d) during

26. The conference begins ... April 6th, 2008.

a) in c) for

b) at d) on

27. A decision … until the next meeting.

a) has not been made c) will not be made

b) will not made d) will have been made

28. Resources that can be converted into cash within a year.

a) fixed assets c) permanent assets

b) earning assets d) current asset

29. For example, investors holding securities must ... the certificates before delivery to the broker і є to sign a negotiable instrument in order to transfer it to another party.

a) hedge c)draw

b) issue d)endorse

30. For example, with a check, the ... is the party writing the check who demands that his/her

bank pay to some third party the indicated amount of money.

a) drawee c) payer

b) drawer d) payee

31. The list of instruments includes electronic transactions, paper currency, checks, and signed, written orders called....

a) bills of exchange c) hire purchase

b) promissory notes d) trade draft

32. They estimated their losses ... 10000 USD

a) in c)to

b) at d)of

33. Withdrawal of money in excess of the credit balance on a bank or building-society cheque account

a) hire purchase c) overdraft

b) accounts receivable d) installment loan

34. Assets with monetary value, such as stock, bonds, or real estate, which are used to guarantee a loan.

a) insurance c) equity

b) mortgage d) security

35. Compensation based upon time worked for a week, month or year rather than for an hour

a) pro rata с) piece work

b) salary d) wage

36. The agreed upon price of an asset in a forward contract.

a) general cost c) forward value

b) forward rate d) Sal cost

37. Compensation based on an agent's sales performance.

a) pro rata c) piece work

b) commission d) brokerage

38. The reason is that for corporations ... to invest for fixed income, preferred stocks carry a tax advantage over bonds.

a) to desire c) to be desiring

b) to have desired d) desiring

39. Bonds issued by state and local governments and governmental units are generally ... to as "municipals" or "tax-exempts".

a) referred c) being referred

b) referring d) to be referred

40. Type of security, usually issued together with a bond or preferred stock that entitles the holder to buy a proportionate amount of common stock at a specified price, usually higher than the market price at the time of issuance, for a period of years or to perpetuity.

a) right c) option

b) warrant d) futures

Variant 6

1. Generally accepted unit of trading on a securities exchange is called …

a) round lot c) volume of trading

b) odd lot d) market lot

2. Maximum number of shares of any class a company may legally create under the terms of its article of incorporation.

a) outstanding stock c) common stock

b) preferred stock d) authorized stock

3. A preferred stock is a stock which bears some resemblances to ...

a) warrant c) option

b) a bond d) futures

4. Agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a stipulated future date is ...

a) warrant c) option

b) right d) futures contract

5. The way in which a bank is organized and operates is determined ... its objectives.

a) to c) by

b) on d) with

6. This can be seen most directly ... looking at the typical organization chart for large versus small banks.

a) at c) by

b) on d) -

7. An order to buy or sell a stock once the price of the stock reaches a specified price is called:

a) market order c) stop order

b) limit order d) time order

8. A Japanese manager concentrates on ... his group to work together.

a) to get c) getting

b) get d) having got

9. When the manager arrived, the problem ….

a) had already been solved c) had solved

b) had already solved d) was sold

10. Over 57 million students … in American schools which range from kindergartens to high schools.

a) were enrolled c) has been enrolled

b) are enrolled d) have been enrolled

11. Resources that can be converted into cash within a year.

a) fixed assets c) permanent assets

b) earning assets d) current assets

12. Last reported price at which a security was sold on an exchange.

a) high price c) market price

b) last price d) bid price

13. A charge or payment for a service or privilege

a) perks c) bonus

b) fee d) commission

14. Some people don't care ... studying this particular field, but I do.

a) about c)for

b) on d) in

15. I think perhaps we all dream ... working for ourselves.

a) about c)with

b) on d)of

16. A sum of money lent at interest.

a) open-book credit c)equity

b) trade draft. d)loan

17. A change in an exchange rate.

a) spread c) volatility

b) currency fluctuation d) swing

18. A person who buys and sells securities with the goal of profiting from short-term price swings.

a) specialist c) trader

b) floor broker d) dealer

19. A loan repaid with interest in equal periodic payments.

a) hire purchase c) installment loan

b) debt capital d) accounts receivable

20. The price that is quoted for immediate settlement (payment and delivery).

a) quotation c) bid

b) spot rate d) asked

21. A very short text accompanying a picture -

a) freesheet c) caption

b) tabloid d) livery

22. An information document produced by a school, university or company

a) prospectus c) pamphlet

b) tabloid d) flier

23. Most people aren't accustomed... working hard.

a) to c) for

b) at d) in

24. I'd like to be in charge... managing a company.

a) about c) for

b) of d)in

25. It's important not to worry ... being successful right off: it takes time.

a) about c) for

b) to d) of

26. He has to get there ... time for his speech at a conference.

a) in c) for

b) at d) during

27. He will start his talk at 3:30 ... time.

a) in c)for

b) on d)at

28. The term of the ... may be fixed, periodic or of indefinite duration.

a) lease c) purchase

b) equity d) mortgage

29. For mutual funds, usually occurs in the US the day following the trade.

a) maturity day c) settlement day

b) issue day d) encashment

30. … notes are generally used as evidence of debt.

a) credit c)debit

b) promissory d)bank

31. They estimated their losses ... 10000 USD.

a) in c) to

b) at d) of

32. He gave these instructions ... a view to speed up the shipment of the goods.

a) with c) in

b) at d) to

33. Money available for a client to borrow

a) credit c) equity

b) open-book credit d) trade draft

34. It combines the highest bid to buy and the lowest ask to sell a stock.

a) average  c) listing

b) quotation d) negotiation

35. The buying of a security such as a stock, commodity, or currency, with the expectation that the asset will rise in value.

a) long position c) total position

b) open position d) short position

36. The final payment date of a loan or other financial instrument, at which point all remaining interest and principal is due to be paid.

a) maturity c) paying off

b) settlement d) repayment

37. A legal document, which confers a right on one person to possess property belonging to another person to the exclusion of the owner landlord.

a) lease c) title

b) mortgage d) ownership right

38. But while a bond is scheduled ... by the corporation on a certain "maturity" date, a preferred stock is ordinarily a permanent part of the corporation's capital structure.

a) to redeem c) to be redeeming

b) to have been redeemed d) to be redeemed

39. As a result, such corporations generally bid the prices of preferred stocks up above the price that would have to be paid for a bond ... the same income.

a) to provide c) having provided

b) providing d) to be provided

40. I should have listened to you. I wish I ... your advice

a) had taken c)took

b) would take d) have taken

Variant 7

1. The … for assets is the difference between the price for an immediate sale (bid) and an immediate purchase (ask).

a) difference с) spread

b) rate d) exchange

2. U.S. government bonds are regarded as … investors with the ultimate in safety

a) to provide c) having provided

b) providing d) to be provided

3. The … … gives the holder the right but not the obligation to buy or sell a set amount of the currency at a certain exchange rate on or before the expiration date.

a) currency option c) spot contract

b) forward contract d) future contract

4. ... is a written promise made by one party to make a stated payment in full by a certain date.

a) promissory note c) hire purchase

b) overdraft d) secured bond

5. … … are often used in international transactions, and the holder of such a bill may redeem it in cash  immediately by selling it to a bank at a discount.

a) bills of lading c) bank bills

b) bills of exchange d) bills account

6. The basic idea of foreign exchange dealing is making profit on selling and buying … .

a) securities c)bonds

b) shares d) currencies

7. Cheques are familiar … most people, because they finance nearly all domestic transfers.

a) with c) for

b) to d) about

8. B accepted it … signing his name vertically across the bill.

a) in c) by

b) at d) on

9. The date mentioned is the date of the bill, so payment is due to be made to A ... 4-th April.

a) in c) for

b) at d) on

10. Debts that the company will have to pay within one year

a) debentures c) current liabilities

b) notes receivable d) notes payable

11. P becomes the payee ... the bill and will eventually get the money until he passes the title on someone else by endorsing it.

a) of c) for

b) to d) on

12. Where a bill is payable ... a time in the future it is known as a term bill.

a) in c) for

b) at d) on

13. The service menu of banks does not remain unchanged as new services constantly ... and developed by commercial banks.

a) are introduced c) are being introduced

b) are introducing d) have been introduced

14. Other innovative services, however,... new ground and exposed bankers to all the uncertainty and risk associated with new product development,

a) broke c) are breaking

b) have broken d) were breaking

15. This may involve ... securities on the business customer's behalf.

a) to issue c) having issued

b) issuing d) to be issued

16. A bank’s trust department will receive and hold any credit letters … by other lending institutions.

a) being issued c) issued

b) issuing  d) to issue

17. Banks... lending and investment operations have the use of the many of their clients from the moment they pay  their money into the bank till the moment they draw it out.

a) carried c) to carry

b) carrying d) being carried

18. Products that- bear only the name of the item, not of its producer, and which are sold at lower than normal prices.

a) generic products c) trade marks

b) brands d) wholesale products

19. Someone who assist a manager in daily personal operational talks.

a) PA c) CEO

b) DA d) SEC

20. Significant assets that will have life of many years, such as land, new buildings, roads, etc.

a) current asses c) capital items

b) equity d) real estate

21. Bonds that are not backed by specific assets.

a) debentures c) T-bonds

b) junk bonds d) real estate

22. The bill can be dishonoured … either of these stages (by non-acceptance or by non-payment) and protested.

a) in c) for

b) at d) on

23. Some holders of bills wanted to have the money immediately and sold them ... less than the sum of money promised.

  1.   in c) for
  2.   at d) on

24. They buy bills", then collect the proceeds ... the day of maturity and make a profit.

a) in c) for

b) at d) on

25. If we look at the form of a cheque we shall see that it is an order to the bank from a depositor of this bank for money to be paid ... his account

a) out of c) for

b) from  d) on

26. The cheque must be paid ... any bank account.

a) into c) for

b) at d) on

27. A widespread aggregation of dealers who make markets in many different securities. Unlike an exchange on which trading takes place at one physical location, the trading occurs through telephone or computer negotiations between buyers and sellers.

a) stock market c) securities market

b) stock exchange d) over-the-counter market 

28. A future financial obligation or contingent liability

a) debenture c) commitment

b) acquisition d) brokerage

29. A company whose securities are traded on an organized exchange.

a) holding company c) listed company

b) mortgage company d) regulated company

30. The difference between the bid and ask prices for a particular security;

a) spread  c) listing

b) quotation d) rate

31.A firm that functions both as broker by bringing buyers and sellers together and as a dealer by taking position of its own in selected securities.

a) dealer c) trader

b) specialist d)broker-dealer

32. The first and most important function of a central bank is to accept responsibility for … the government on the making of the country’s financial policy.

a) advise c) advice

d) advising d)having advised

33. A commercial bank which provides the same range of services year after year less is likely … successful.

a) to have been c) being

b) have been  d) to be

34. This trend forced bank managers ... more concerned with service marketing activities and with profitability and growth.

a) become  c) to have become

b) becoming d) to become

35. A bank’s size is also a significant factor in ... how banks are organized.

a) determining c) to determine

b) determine d) determined

36. The service operations of a small bank usually are monitored by a cashier and auditor ... in the accounting divisions

a) to work c) work

b) worked d) working

37. Each … is due on the first of  the month.

a) payment c) interest

b) wage d) dividend

38. The most common way investors determine whether the market is bullish is to watch … … .

a) tables c) market

b) market averages d) exchange rates

39. Lloyd's is one major … … in the UK.

a) commercial banks c) block traders

b) insurance companies d) stock exchanges

40. The accounts have not yet been … .

a) audited c) profited

b) conducted d)accepted

Variant 8

1. The date on which either cash (for a buyer) or a security (for a seller) must be in the hands of the broker in order to satisfy the conditions of a security transaction.

a) maturity c) repayment

b) paying off d) settlement date

2. Sometimes the … … also monitors the relationship with the borrower after the loan closes; other times this is taken over by someone else.

a) bank teller c) loan officer

b) commercial director d) deputy officer

3. Rapid changes are occurring in today's national and international business environment, contributing to increased ... ... across supply chains and operational functions.

a) profit share c) risk exposure

b) paying off d) currency fluctuations

4. A check that is duly signed, but the amount of the check is left blank to be supplied by the ....

a) drawer c) endorser

b) endorsee d) drawee

5. A … … means you have borrowed shares through your broker, sold them, and must return them, plus interest, at some point in the future.

a) maturity, c) short position

b) paying off d) settlement date

6. The … … is the expected yield on a given fixed-income security at a particular time in the future.

a) forward rate c) analytical multiple

b) p-e ratio d) profit share

7. Bills of exchange are not so well known but are used extensively ... the settlement of international trade.

a) in c) for

b) at d) on

8. A's bill drawn ... in soling might look something like this.

a) in c) for

b) up d) on

9. Debts that the company will have to pay within one year

a) debentures c) current liabilities

b) notes receivable d) notes payable

10. More often there are three parties ... a bill.

a) in c) for

b) to d) on

11. Special endorsement would specify the person ... whom a bill or cheque is to be payable.

a) to c) for

b) at d) on

12. Banks may ... as firms producing and selling financial services.

a) define c) defining

b) be defined d) to be defined

13. The 1980s .ш an explosion of new service options.

a) were ushered c) ushered

b) had ushered d) had been ushered

14. In ... trust services the bank places itself as authorized agent between the marketplace and the customer.

a) having offered c) offering

b) offered d) offer

15. The trust department will set up and manage a sinking fund, investing all monies that the bond issuer contributes to that fund periodically with the intent of eventually ... the bond issue.

a) to redeem c) having redeemed

b) being redeemed d) redeeming

16. For generations banks ... loans to finance the construction of business facilities and private houses.

a) have made c) were made

b) made d) are making

17. It is worth ... that banks have been eager in recent years to attract the accounts of even quite modest private people.

a) to mention c) mentioning

b) to be mentioned d) being mentioned

18. Companies that invest money entrusted to them by others.

a) private investors c) speculators

b) institutional investors d) hedgers

19. Bank clerk or cashier.

a) ATM c) loan officer

b) teller d) bank manager

20. These are products that are purchased infrequently. The consumers will conduct extensive research to make sure that their purchase decision is right, because, they are expensive and infrequent purchases.

a) generic products c) trade marks

b) brands d) specialty goods

21. The bill which is payable ... sight (or on demand) is called a sight bill.

a) in c) for

b) at d) on

22. Banks used to accept the bills ... behalf of their customers.

a) in c) for

b) at d) on

23. The financial institutions which specialize ... buying bills at a discount are called discount houses.

a) in c) for

b) at d) on

24. A cheque is a special form of a bill of exchange, namely, one payable ... demand.

a) in c) for

b) at d) on

25. Cheques like bills of exchange may change hands and are still good... payment

a) in c) for

b) at d) on

26. An order to buy or sell a stock once the price of the stock reaches a specified price;

a) limit order c) stop order

b) time order d) market order

27. Any of a number of government offices established to collect and supply to the unemployed information about job vacancies and to employers information about availability of prospective workers;

a) stock market c) headquarters

b) PR department d) labour exchange

28. The minimum quantity of a security required for regular trading purposes;

a) round lot c) odd lot

b) unit of trading d) volume of trading

29. The commission of a broker;

a) brokerage c)bonus

b) fee  d) piecework

30. A member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange;

a) broker c) specialist

b) dealer d) trader

31. T he way in which a bank is organized and ... is determined by its objectives,

a) operates c) operated

b) is operated d) being operated

32. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) developed c) develop

b) have developed d) are developed

33. Successfully ... in the constantly changing global business environment requires market-driven strategies.

a) compete c) competition

b) competing d) having competed

34. Banks are usually organized to follow their functions and supply the services ... by them as efficiently as possible.

a) demanded c) to demand

b) demand d) to be demanded

35. This bank is heavily committed to ... smaller consumer-rented deposits and making consumer installment and small business loans.

a) to attract c) attracting

b) attract d) having attracted

36. The tendency in recent years ... for most banking institutions to become more complex organizations.

a) has been c) is

b) was d) to be

37. … … is selling stock that is borrowed from a broker in the hope of buying it back later at a lower price.

a) trade c) round lot

b) selling short d) odd lot

38. … … … … tracks the prices of 30 blue-chip stocks traded on the stocks.

a) market average c) financial table

b) Standard & Poor's 500 d) Dow Jones Industrial Average

39. … … … is computed by dividing a stock market price by its prior year's earnings per share.

a) yield rate c) profit share

b) exchange rate d) price-earning ratio

40. The broker asked the client to increase the on a high-risk deal.

a) profit share c) transaction cost

b) exchange rate d) yield rate

Variant 9

1. Generally accepted unit of trading on a securities exchange is called ...

a) round lot c) volume of trading

b) odd lot d) market lot

2. I should have listened to you. I wish I... your advice

a) took c) had taken

b) would take d) have taken

3. Maximum number of shares of any class a company may legally create under the terms of its article of incorporation.

a) outstanding stock c) common stock

b) preferred stock d) authorized stock

4. A freebie is....

a) a promotional gift c) an illustrated booklet for advertising products

b) a specialized journal published regularly d) a small-sized newspaper

5. A preferred stock is a stock which bears some resemblances to ...

a) warrant c) option

b) a bond d) futures

6. In most cases the preferred dividend is cumulative, which means that if it isn't paid in a given year, it is owed by the company ... the preferred stockholder.

a) with c) by

b) to d) before

7. Resources that can be converted into cash within a year

a) fixed assets c) permanent assets

b) earning assets d) current assets

8. The importance of daily changes in the ... will be clear if you view them in percentage terms.

a) market c) averages

b) exchange d) futures contract

9. The way in which a bank is organized and operates is determined ... its objectives.

a) to c) by

b) on d) with

10. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) are developing c) have developed

b) developed d) have been developed

11. He has to get there ... time for his speech at a conference.

a) in c) for

b) at d) during

12. The conference begins ... April 6th, 2008.

a) in c) for

b)at d) on

13 He will start his talk at 3:30,... time.

a) in c)for

b)on d)at

14. A decision … until the next meeting.

a) has not been made c) will not be made

b) will not made d) will have been made

15.The term of the ... may be fixed, periodic or of indefinite duration.

a) lease c) purchase

b) equity d) mortgage

16. Despite the measures taken last year to cut their risky investments and the overall size of their portfolios "the big banks' overall … … continues to be material.

a) gross losses c) credit rating

b) risk exposure d) essential risk

17. For mutual funds, … … usually occurs  in the US  the day following the trade.

a) maturity day c) settlement day

b) issue day d) encashment

18. For example, investors holding securities must ... the certificates before delivery to the broker, i.e. to sign a negotiable instrument in order to transfer it to another party.

a) hedge c) draw

b) issue d) endorse

19. ... notes are generally used as evidence of debt.

a) credit c) debit

b) promissory d) bank

20. For example, with a check, the ... is the party writing the check who demands that his/her bank pay to some third party the indicated amount of money.

a) drawee c) payer

b) drawer d) payee

21. He gave these instructions ... a view to speed up the shipment of the goods

a) at c) to

b) with d) in

22. Special endorsement would specify the person ... whom a bill or cheque is to be payable.

a) to c) for

b) at d) on

23. Where a bill is payable ... a time in the future it is known as a term bill.

a) in c) for

b) at d) on

24. Banks may ... as firms producing and selling financial services.

a) define c) defining

b) be defined d) to be defined

25. The service menu of banks does not remain unchanged as new services constantly ... and developed by commercial banks.

a) are introduced c) are being introduced

b) are introducing d) have been introduced

26. The 1980s ... in an explosion of new service options.

a) were ushered c) ushered

b) had ushered d) had been ushered

27. Other innovative services, however, ... new ground and exposed bankers to all the uncertainty and risk associated with new product development.

a) broke c) are breaking

b) have broken d) were breaking

28. In ... trust services the bank places itself as authorized agent between the marketplace and the customer.

a) having offered c) offering

b) offered d) offer

29. This may involve ... securities on the business customer's behalf.

a) to issue c) having issued

b) issuing Ф to be issued

30. The trust department will set up and manage a sinking fund, investing all monies that the bond issuer contributes to that fund periodically with the intent of eventually ... the bond issue.

a) to redeem c) having redeemed

b) being redeemed d) redeeming

31. A bank's trust department will receive and hold any credit letters ... by other lending institutions.

a) being issued c) issued

b) issuing d) to issue

32. The tendency in recent years ... for most banking institutions to become more complex organizations.

a) has been c)is

b) was d) to be

33. Each ... is due on the first of the month

a) payment c) interest

b) wage d) dividend

34. … … is selling stock that is borrowed from a broker in the hope of buying it back later at a lower price.

a) trade c) round lot

b) selling short d) odd lot

35. The most common way investors determine whether the market is bullish is to watch … … .

a) tables c) market

b) market averages d) exchange rates

36. … … … … tracks the prices of 30 blue-chip stocks traded on the stocks.

a) market average c) financial table

b) Standard & Poor" s 500 d) Dow Jones Industrial Average

37. Lloyd's is one major … … in the UK.

a) commercial banks c) block traders

b) insurance companies d) stock e3j®hanges

38. … … … is computed by dividing a stock market price by its prior year's earnings per share.

a) yield rate c) profit share

b) exchange rate d) price-earning ratio

39. The accounts have not yet been ....

a) audited c) profited

b) conducted d) accepted

40. The broker asked the client to increase the on a high-risk deal.

a) profit share c) transaction cost

b) exchange rate d) yield rate

Variant 10

1. A very short text accompanying a picture

a) freesheet c) caption

b) tabloid d) livery

2. A small promotional leaflet —

a) freesheet c) colour supplement

b) tabloid d) flier

3. An information document produced by a school, university or company —

a) prospectus c) pamphlet

b) tabloid d) flier

4. Benefits other than wages, salaries and bonuses, often known as "perks". -

a) fringe benefits с) bonus

b) fee d) commission

5. Most people aren't accustomed ... working hard.

a) to c) for

b) at d) in

6. If you try hard, you can succeed... reaching your goal.

a) to c) for

b) at d) in

7. I'd like to be in charge... managing a company.

a) about c) for

b) of d)in

8. I will need to concentrate ... studying Business.

a) about c) for

b) on d) in

9. It's important not to worry ... being successful right off it takes time.

a) about c) for

b) to d) of

10. A hundred mile trip might be completed ... two days.

a) in c) for

b) at d) during

11. The basic idea of foreign exchange dealing is making profit on selling and buying .....

a) securities c) bonds

b) shares d) currencies

12. The … … is the expected yield on a given fixed income security at a particular time in the future.

a) forward rate c) analytical multiple

b) p-e ratio d) profit share

13. Cheques are familiar ...  most people, because they finance nearly all domestic transfers.

a) with c) for

b) to d) about

14. Bills of exchange are not so well known but are used extensively ... the settlement of international trade.

a) in c)for

b) at d) on

15. В accepted it... signing his name vertically across the bill.

a) in c) by

b) at d)on

16. A's bill drawn... in sterling might look something like this.

a) in c)for

b) up d)on

17. The date mentioned is the date of the bill, so payment is due to be made to A ... 4-th April.

a) in c)for

b) at d) on

18. They estimate their losses ... 10000 US dollars

a) in  c) by

b) to d) at

19. There was no objection ... the part of the manager

a) on c) from

b) at d) of

20. More often there are three parties ... a bill.

a) in c) for

b) to d) on

21. P becomes the payee … the bill and will eventually get the money until he passes the title on someone else by endorsing it.

a) of c) for

b) to  d )on

22. The way in which a bank is organized and ... is determined by its objectives.

a) operates c) operated

b) is operated d) being operated

23. The first and most important function of a central bank is to accept responsibility for... the government on the making of the country's financial policy.

a) advise c) advice

b) advising d) having advised

24. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

a) developed c) develop

b) have developed d) are developed

25. A commercial bank which  provides the same range of services year after year less is likely ... successful.

a) to have been c) being

b) have been d) to be

26. Successfully ... in the constantly changing global business environment requires market- driven strategies.

a) compete c) competition

b) competing d) having competed

27. This trend forced bank managers ... more concerned with service marketing activities and with profitability and growth.

a) become c) to have become

b) becoming d) to become

28. Banks are usually organized to follow their functions and supply the services ... by them as efficiently as possible.

a) demanded c) to demand

b) demand d) to be demanded

29 A bank's size is also a significant factor in ... how banks are organized.

a) determining c) to determine

b) determine d) determined

30. This bank is heavily committed to ... smaller consumer-oriented deposits and making consumer installment and small business loans.

a) to attract c) attracting

b) attract d) having attracted

31.  The service operations of a small bank usually are monitored by a cashier and auditor the accounting division.

a) to work с) work

b) worked d) working

32. The tendency in recent years … for most banking institutions to become more complex

organizations.

a) has been c)is

b) was d) to be

33. A change in an exchange rate.

a) spread c) volatility

b) currency fluctuation d) swing

34. Assets pledged as security for a loan.

a) collateral c) mortgage

b) insurance d) equity

35. A person who buys and sells securities with the goal of profiting from short-term price swings.

a) specialist c) trader

b) floor broker d) dealer

36. The delivery of a security by a seller and its acceptance by the buyer.

a) transaction c) acceptance

b) factoring d) balance

37. A loan repaid with interest in equal periodic payments.

a) hire purchase c) installment loan

b) debt capital d) accounts receivable

38. Loans that have been made or bought and are being held for repayment

a) loan portfolio c) position

b) credits d) accounts receivable

39. The price that is quoted for immediate settlement (payment and delivery).

a) quotation c) bid price

b) spot rate d) asked price

40. Written and signed promises to pay a creditor a stated sum on a certain date

a) accounts payable c) notes payable

b) accounts receivable d) notes receivable

Variant 11

1. The … for assets is the difference between the price available for an immediate sale (bid) and an immediate purchase (ask).

a) difference c) spread

b) rate d) exchange

2. The date on which either cash (for a buyer) or a security (for a seller) must be in the hands of the broker m order to satisfy the conditions of a security transaction.

a) maturity c) repayment

b) paying off d) settlement date

3. U.S. government bonds are regarded as ... investors with the ultimate in safety.

a) to provide c) having provided

b) providing d) to be provided

4. Sometimes the … … also monitors the relationship with the borrower after the loan closes; other tones this is taken over by someone else.

a) bank teller c) loan officer

b) commercial director d) deputy officer

5. The … … gives the holder the right but not the obligation to buy or sell a set amount of the currency at a certain exchange rate on or before the expiration date,

  1.  currency option c) spot contract
  2.  forward contract d) futures contract

6. Rapid changes are occurring in today's national and international business environment, contributing to increased … … across supply chains and operational functions,

  1.  profit share c) risk exposure
  2.  paying off d) currency fluctuations

7. … … is a written promise made by one party to make a stated payment in full by a certain date.

  1.  promissory note c) hire purchase
  2.  overdraft d) secured bond

8. A check that is duly signed, but the amount of the check is left blank to be supplied by the ….

  1.  drawer c) endorser
  2.  endorsee d) drawee

9. … … are often used in international transactions, and the holder of such a bill may redeem it in cash immediately by selling it to a bank at a discount.

  1.  bills of lading c) bank bills
  2.  bills of exchange d) bills account

10. A … … means you have borrowed shares through your broker, sold them, and must return them, plus interest, at some point in the future.

  1.  maturity c) short position
  2.  paying off d) settlement date

11. The cheque must be paid ... any bank account.

  1.  into с) for
  2.  at d) on

12. An order to buy or sell a stock once the price of the stock reaches a specified price;

a) limit order c) stop order

b) time order d) market order

13. A widespread aggregation of dealers who make markets in many different securities. Unlike an exchange on which trading takes place at one physical location, the trading occurs through telephone or computer negotiations between buyers and sellers;

  1.  stock market c) securities market
  2.  stock exchange d) over-the-counter market

14 Any of a number of government offices established to collect and supply to the unemployed information about job vacancies and to employers information about availability of prospective workers;

  1.  stock market c) headquarters
  2.  PR department d) labour exchange

15. A future financial obligation or contingent liability;

  1.  debenture c) commitment
  2.  acquisition d) brokerage

16. The minimum quantity of a security required for regular trading purposes;

  1.  round lot c) odd lot
  2.  unit of trading d) volume of trading

17. The conventional unit or quantity in which commodities or securities are bought and sold;

  1.  unit of trading c) volume of trading
  2.  round lot d) odd lot

18. The commission of a broker;

  1.  brokerage c) bonus
  2.  fee d) piecework

19. The difference between the bid and ask prices for a particular security;

  1.  spread c) listing
  2.  quotation d) rate

20. A member of an exchange who executes orders in his or her name or for other stockholders in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange;

  1.  broker c) specialist
  2.  dealer d) trader

21 A small promotional leaflet —

a) freesheet c) colour supplement

b) tabloid d) flier

22. Market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds rather than on the floor of an exchange.

  1.  securities market c) stock exchange
  2.  stock market d) OTC

23. Last reported price at which a security was sold on an exchange.

  1.  high price c) market price
  2.  last price d) bid price

24. A compensation payment in addition to regular wages or salary.

  1.  perks c) bonus
  2.  fringe benefits d) commission

25. A charge or payment for a service or privilege

  1.  perks c) bonus
  2.  fee d) commission

26. A newspaper financed entirely by adverts

  1.  freesheet c)colour supplement
  2.  tabloid d) pamphlet

27. Some people don't care ... studying this particular field, but I do.

a)about c)for

b)on d) in

28. I don't want to argue ... anyone about that.

a) about c) with

b) on d) of

29. I think perhaps we all dream ... working for ourselves.

a) about b) on

c) with d)of

30. I am looking forward …  exploring my options.

a) about c) for

b) to d)of

31. The final payment date of a loan or other financial instrument, at winch point all remaining interest and principal is due to be paid.

a) maturity c) paying off

b)forward rate d) repayment

32. The agreed upon price of on asset in a forward contract.

a) general cost c) forward value

b) forward rate d) total cost

33. A legal document, which confers a right on one person to possess property belonging to another person to the  exclusion of the owner landlord.

  1.   lease с) title
  2.  mortgage d) ownership right

34. Compensation based on an agent's sales performance.

  1.  pro rata c) piece work
  2.   commission d) brokerage

35, But while a bond is scheduled ... by the corporation on a certain "maturity" date, a preferred stock is ordinarily a permanent part of the corporation's capital structure.

a) to redeem c) to be redeeming

b) to have been redeemed d) to be redeemed

36. The reason is that  for corporations ... to invest fox fixed income, preferred stocks carry a tax advantage over bonds.

  1.   To desire c) to be desiring
  2.  to have desired d) desiring

37. As a result, such corporations generally bid the prices of preferred stocks up above the price that would have to be paid for a bond ... the same income.

  1.  to provide c) having provided
  2.  providing d) to be provided

38. Bonds issued by state and local governments and governmental units are generally ... to as "municipal" or "tax-exempts".

  1.  referred c) being referred
  2.  referring d) to be referred

39. Type of security, usually issued together with a bond or preferred stock that entitles the holder to buy a proportionate amount of common stock at a specified price, usually higher than the market price at the time of issuance, for a period of years or to perpetuity.

a) right c) option

b) warrant d)futures

40. A very short text accompanying a picture

a) freesheet c) caption

b)tabloid d) livery

Variant 12

1. A net investment position in a security in which the security has been borrowed and sold but not yet replaced.

  1.  long-position c) total position
  2.  open position d) short position

2. The bill which is payable ... sight (or on demand) is called a sight bill.

a) in c) for

b) at d) on

3. The bill can be dishonoured ... either of these stages (by non-acceptance or by non-payment) and protested.

  1.  in c) for
  2.  at d) on

4. Banks used to accept the bills ... behalf of their customers.

  1.  in c) for
  2.  at d) on

5. Some holders of bills wanted to have the money immediately and sold them ... less than the sum of money promised.

  1.  in c) for
  2.  at d) on

6. The financial institutions which specialize ... buying bills at a discount are called discount houses.

  1.  in c) for
  2.  at d) on

7. They buy bills, then collect the proceeds ... the day of maturity and make a profit.

  1.  in c) for
  2.  at d) on

8. A cheque is a special form of a bill of exchange, namely, one payable ... demand.

  1.  in c) for
  2.  at d) on

9. If we look at the form of a cheque we shall see that it is an order to the bank from a depositor of this bank for money to be paid ... his account.

  1.  out of c) for
  2.  from d) on

10.  Cheques like bills of exchange may change hands and are still good ... payment.

  1.  in c) for
  2.  at d) on

11.  This can be seen most directly ... looking at the typical organization chart for large versus small banks.

  1.  at c) by
  2.  on d) -

12.  Most common and most unrestricted type of bank, allowed the most latitude in its services and investments are called:

  1.  retail banks c) unit banks
  2.  commercial banks d) central banks

13.  An order to buy or sell a stock once the price of the stock reaches a specified price is called:

  1.  market order c) stop order
  2.  limit order d) time order

14.  He gave these instructions ... a view to speed up the shipment of the goods

  1.  at c) to
  2.  with d) in

15. A Japanese manager concentrates on ... his group to work together,

a) to get b)get

c) getting d) having got

16. Where a bill is payable ... a time in the future it is known as a term bill.

a) on c)for

b) at d) before

17. When the manager arrived, the problem … .

  1.  had already been solved c) had solved
  2.  had already solved d) was sold

18. Our.-plan … by the members of the committee this week.

  1.  considers c) is considered
  2.  is being considered d) has been considered

19. Over 57 million students … in American schools which range from kindergartens to high

schools.

  1.  were enrolled c) has been enrolled
  2.  are enrolled d) have been enrolled

20. I should have listened to you. I wish I... your advice

  1.  took c) had taken
  2.  would take d) have taken

21. Resources that can be converted into cash within a year

  1.  fixed assets c) permanent assets
  2.  earning assets d) current assets

22. The list of instruments includes electronic transactions, paper currency, checks, and signed, written orders called … … .

  1.  bills of exchange c) hire purchase
  2.  promissory notes d) trade draft

23. Similarly, a … … in an option means that you have sold the option, giving the holder the right to exercise and committing yourself to fulfilling the terms should exercise occur and you're assigned to meet them.

  1.  long position c) total position
  2.  open position d) short position

24. The effect of a is that the cheques can only be paid into an account with the specified bank or specified branch indicated on the crossing which it bears across its face.

  1.  general crossing c) endorsement
  2.  special crossing d) negotiation

25. Money available for a client to borrow.

  1.  credit c) equity
  2.  open-book credit d) trade draft

26. Withdrawal of money in excess of the credit balance on a bank or building-society cheque account

  1.  hire purchase c) overdraft
  2.  accounts receivable d) installment loan

27. It combines the highest bid to buy and the lowest ask to sell a stock.

  1.  average c) listing
  2.  quotation d) negotiation

28. Assets with monetary value, such as stock, bonds, or real estate, which are used to guarantee a loan.

  1.  insurance c) equity
  2.  mortgage d) security

29. The buying of a security such as a stock, commodity, or currency, with the expectation that the asset will rise in value.

  1.  long position c) total position
  2.  open position d) short position

30. Compensation based upon time worked for a week, month or year rather than for an hour -

  1.  pro rata c) piecework
  2.  salary d) wage

31. A bank’s trust department will receive and hold any credit letters ... by other lending institutions.

  1.  being issued c) issued
  2.  issuing d) to issue

32. For generations banks ... loans to finance the construction of business facilities and private houses.

  1.  have made c) were made
  2.  made d) are making

33. Banks ... lending and investment operations have the use of the money of their clients from the moment they pay their money into the bank till the moment they draw it out.

  1.  carried c) to carry
  2.  carrying d) being carried

34. It is worth ... that banks have been eager in recent years to attract the accounts of even quite modest private people.

  1.  to mention c) mentioning
  2.  to be mentioned d) being mentioned

35. Products that- bear only the name of the item, not of its produces, and which are sold at lower than normal prices. -

  1.  generic products c) trade marks
  2.  brands d) wholesale products

36. … … … is computed by dividing a stock market price by  its prior year's earnings per share.

  1.  yield rate c) profit share
  2.  exchange rate d) price-earning ratio

37. Lloyd's is one major … … in the UK.

  1.  commercial banks c) block traders
  2.  insurance companies d) stock exchanges

38. Bank clerk or cashier.

  1.  ATM c) loan officer
  2.  teller d) bank manager

39. Significant assets that will have a life of many years, such as land, new buildings, roads, etc.

  1.  current assets c) capital items
  2.  equity d) real estate

40. These are products that are purchased infrequently. The consumers will conduct extensive research to make sure that their purchase decision is right, because they are expensive and infrequent purchases.

  1.  generic products c) trade marks
  2.  brands d) specialty goods

Variant 13

1. Valuable things owned by a company -

a) shares c) bonds

b) assets d) premises

2. Unpaid media coverage of news about an organization.

a) advertisement c) publicity

b) brands d) coverage

3. In currency exchange, the possibility that one currency will devalue to the exchanger's detriment.

a) FOREX c) hedging

b) option d) currency risk

4. Facility for storing stocks of supplies or finished products.-

  1.  warehouse c) storage
  2.  premises d) backroom

5. Failure to pay back a debt.

  1.  default c) redemption
  2.  overdraft d) pass

6. A certificate of indebtedness sold to raise funds -

  1.  share certificate c) share
  2.  accounts receivable d) bond

7. A loan agreement whereby the Lender has a legal claim on the borrower's property if repayments are not made

  1.  mortgage c) lien
  2.  leverage d) security

8. A loan granted on the basis of the borrower's credit rating rather than on the basis of collateral

  1.  unsecured loan c) overdraft
  2.  credit d) promissory note

9. Amounts due from customers

  1.  credit c) trade draft
  2.  accounts receivable d) accounts payable

10. Bonds that are not backed by specific assets

  1.  debentures c) accounts payable
  2.  accounts receivable d) convertible bonds

11. There is a lot... about securities.

  1.  to say c) saying
  2.  to be said d) having said

12. People who own stocks and bonds are referred ... as investors.

  1.  to c) about
  2.  on d) at

13. … law, no one under 21 can buy or sell stock.

a) under c)on

b) by d) for

14. But minors can own stock if ... in trust for them by an adult,

a) keep c) kept

b) keeping d) having kept

15. This concept, known as limited liability, ... possible the growth of giant corporations.

a) has made  с) makes

b) made d)make

16. A stockholder (owner) of a corporation has certain basic rights ... proportion to the number of shares he or she owns.

a) to c)on

b)in d)as

17. He gave these instructions ... a view to speed up the shipment of the goods

a) at c) in

b) with d) to

18. The potential rewards are high, but the stocks can drop … price at incredible rates when earnings don’t grow as expected.

a)- c) of

b)on d) in

19. For example, the companies in the video game industry boomed in the early 1980s, when it appeared that the whole world was about ... into one vast video arcade.

a) turn c) to turn

b) turning d) to have turned

20. The trick, of course, is ... forecasting which companies really will show better-than-average growth.

a) to c) about

b)in d)_

21. But the bottoms and tops can be hard... when they occur.

  1.  recognizing c) recognize
  2.  to be recognized d) to recognize

22. Special situation investments may be less affected... general stock market movements than the average stock investment.

  1.  to c) about
  2.  by d) on

23. Companies that invest money entrusted to them by others.

  1.  private investors c) speculators
  2.  institutional investors d) hedgers

24. A preferred stock is a stock which bears some resemblances to ...

  1.  warrant c) option
  2.  a bond d) futures

25. In most cases the preferred dividend is cumulative, which means that if it isn4 paid in a given year, it... by the company to the preferred stockholder.

  1.  owed c) to owe
  2.  owes d) is owed

26. If the corporation is sold or liquidates, the preferred stockholders have a claim ... a certain portion of the assets ahead of the common stockholders.

a) to c)on

b)for d) -

27. But while a bond is scheduled ... by the corporation on a certain "maturity" date, a preferred stock is ordinarily a permanent part of the corporation's capital structure.

  1.  to be redeemed c) redeeming
  2.  to redeem d) redeemed

28. In exchange ... receiving an assured dividend, the preferred stockholder generally does not share in the progress of the company

a) to c) on

b)for d) as

29 The reason is that for corporations ... to invest for fixed income.

a) desired c) desiring

b) to be desires d) 

30. Unlike a stock, a bond is evidence not of ownership, but of a loan … a company.

a) to c) with

d) in d) 

31. Resources that can be converted into cash within a year

a) fixed assets b) permanent assets

с) earning assets d) current assets

32. The borrower gives the lender a lien on the property as … for the loan.

a) title c) document

b) collateral a) interest

33. … are used primarily in international trade transactions of significant value.

a) letters of credit c) credit ratings

b) bank notes d) trade drafts

34. Banks provide almost all payment services, and a is considered indispensable by most businesses, individuals and governments.

  1.  pass book c) letter of credit
  2.  credit book d) bank account

35. Currently in most jurisdictions commercial banks are regulated by government... and require a special bank license to operate.

  1.  persons c) politicians
  2.  entities d) executives

36. Also, most ... enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank.

  1.  banks c) clerks
  2.  ATMs d) tellers

37. ... of the largest 1,000 banks in the world grew by 6.8% in the 2008/2009 financial year to a record $96.4 trillion while profits declined by 85% to $115bn.

  1.  assets c) volumes
  2.  values d) rates

38. Written and signed promises to pay a creditor a stated sum on a certain date.

  1.  current liabilities c) notes receivable
  2.  debentures d) notes payable

39. In real estate, a … … is a document wherein specific financial interest in the title to real property is transferred to a trustee, which holds it as security for a loan (debt) between two other parties.

  1.  trust agreement c) trust deed
  2.  fiduciary relation d) covenant

40. Getting a... is a time-consuming process, but, considering that it will usually be paid over 15 or 30 years, it is worth a great deal of effort to save money in the long run.

  1.  overdraft c) insurance
  2.  trade draft d) mortgage

Variant 14

1. Generally accepted unit of trading on a securities exchange is called ...

a) round lot c) volume of trading

b) odd lot d) market lot

2. A loan agreement whereby the Lender has a legal claim on the borrower's property if repayments are not made

  1.  mortgage c) lien
  2.  leverage d) security

3. Maximum number of shares of any class a company may legally create under the terms of its article of incorporation.

  1.  outstanding stock c) common stock
  2.  preferred stock d) authorized stock

4. A freebie is ....

  1.  a promotional gift c) an illustrated booklet for advertising products
  2.  a specialized journal published regularly d) a small-sized newspaper

5. A preferred stock is a stock which bears some resemblances to ...

  1.  warrant c) option
  2.  a bond d) futures

6. In most cases the preferred dividend is cumulative, which means that if it isn't paid in a given year, it is owed by the company ... the preferred stockholder.

  1.  with c) by
  2.  to d) before

7. Agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a stipulated future date is ...

  1.  warrant c) option
  2.  right d) futures contract

8. The importance of daily changes in the ... will be clear if you view them in percentage terms.

  1.  market c) averages
  2.  exchange d) futures contract  

9. The way in which a bank is organized and operates is determined ... its objectives.

  1.  to c) by
  2.  on d) with

10. Over the years banks ... organizational forms, or structures, designed to perform these various roles.

  1.  are developing c) have developed
  2.  developed d) have been developed

11. This can be seen most directly ... looking at the typical organization chart for large versus small banks.

a) at  c) by

b)on d)-

12. Most common and most unrestricted type of bank, allowed the most latitude in its services and investments are called:

  1.  retail banks c) unit banks
  2.  commercial banks d) central banks

13. An order to buy or sell a stock once the price of the stock reaches a specified price is called:

  1.  market order c) stop order
  2.  limit order d) time order

14. A member of an exchange who executes orders in his or her name or for other stockbrokers in a single stock or a particular group of stocks and thus helps maintain the market in those securities on that exchange is called:

  1.  specialist c) floor broker
  2.  broker-dealer d) commission broker

15. A Japanese manager concentrates on … his group to work together

a) to get c) getting

b) get d) having got

16. Where a bill is payable ... a time in the future it is known as a term bill.

a) on c)for

b) at d) before

17.  When the manager arrived, the problem …

  1.  had already been solved c) had solved
  2.  had already solved d) was sold

18.  Our plan by the members of the committee this week.

  1.  considers c) is considered
  2.  is being considered d) has been considered

19.  Over 57 million students … in American schools which range from kindergartens to high schools.

  1.  were enrolled c) has been enrolled
  2.  are enrolled d) have been enrolled

20. But the bottoms and tops can be hard ... when they occur.

  1.  recognizing c) recognize
  2.  to be recognized d) to recognize

21. A certificate of indebtedness sold to raise funds -

a) share certificate b) accounts receivable

c) share d) bond

22. Market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds rather than on the floor of an exchange.

  1.  securities market c) stock exchange
  2.  stock market d) OTC

23. Last reported price at which a security was sold on an exchange.

  1.   high price c) market price
  2.   last price d) bid price

24. A compensation payment in addition to regular wages or salary.

a) perks c) bonus

b) fringe benefits d) commission

25. A charge or payment for a service or privilege.

a) perks c) bonus

b) fee d) commission

26. A newspaper financed entirely by adverts

a) freesheet c) colour supplement

b) tabloid d) pamphlet

27. Some people don’t care … studying this particular field, but I do.

a) about  c) for

b) on d) in

28. I don’t want to argue … anyone about that.

a) about c) with

b) on d) of

29. I think perhaps we all dream … working for ourselves

a) about c) with

b) on d)of

30. I am looking forward ... exploring my options.

a) about c)for

b) to d) of

31. A sum of money lent at interest

  1.  open-book credit c) equity
  2.  trade draft d) loan

32. Facility for storing stocks of supplies or finished products. -

  1.  warehouse c) storage
  2.  premises d) backroom

33. A change in an exchange rate

  1.  spread c) volatility
  2.  currency fluctuation d) equity

34. Assets pledged as security for a loan

a) collateral c) mortgage

b) insurance d) equity

35. A person who buys and sells securities with the goal of profiting from short-term price swings.

  1.  specialist c) trader
  2.  floor broker d) dealer

36. The delivery of a security by a seller and its acceptance by the buyer.

  1.  transaction c) acceptance
  2.  factoring d) balance

37. A loan repaid with interest in equal periodic payments.

  1.  hire purchase c) installment loan
  2.  debt capital d) accounts receivable

38. Loans that have been made or bought and are being held for repayment.

  1.  loan portfolio c) position
  2.  credits d) accounts receivable

39. The price that is quoted for immediate settlement (payment and delivery).

  1.  quotation c) bid
  2.  spot rate d) asked

40. In currency exchange, the possibility that one currency will devalue to the exchanger’s detriment.

  1.  FOREX c) hedging

option d) currency risk

Variant 15

1. Unpaid media coverage of news about an organization.

  1.  advertisement c) publicity
  2.  brands d) coverage

2. Facility for storing stocks of supplies or finished products.

  1.  warehouse c) storage
  2.  premises d) backroom

3. A certificate of indebtedness sold to raise funds -

  1.  share certificate c)share
  2.  accounts receivable d)bond

4. A loan granted on the basis of the borrower's credit rating rather than on the basis of collateral

  1.  unsecured loan c) overdraft
  2.  credit d) promissory note

5. Bonds that are not backed by specific assets

  1.  debentures c) accounts payable
  2.  accounts receivable d) convertible bonds

6. People who own stocks and bonds are referred ... as investors.

  1.  to c)about
  2.  on d) at

7. But minors can own stock if... in trust for them by an adult

  1.  keep c) kept
  2.  keeping d) having kept

8. A stockholder (owner) of a corporation has certain basic rights ... proportion to the number of shares he or she owns.

a) to c)on

b)in d)as

9. The potential rewards are high» but the stocks can drop... price at incredible rates when earnings don't grow as expected.

  1.  - c) of
  2.  on d) in

10. The trick, of course, is ... forecasting which companies really will show better-than-average growth.

a) to c) about

b)in d) -

11. Special situation investments may be less affected ... general stock market movements than the average stock investment.

  1.  to c) about
  2.  by d) on

12. A preferred stock is a stock which hears some resemblances to ...

  1.  warrant c) option
  2.  a bond d) futures

13. If the corporation is sold or liquidates, the preferred stockholders have a claim ... a certain portion of the assets ahead of the common stockholders.

  1.  to c) on
  2.  for d) -.

14. In exchange ... receiving an assured dividend, the preferred stockholder generally does not share in the progress of the company

a) to c) on

b) for d)as

15. Unlike a stock, a bond is evidence not of ownership, but of a loan ... a company

a) to c) with

b) in d) 

16. The borrower gives the lender a lien on the property as … for the loan.

a) title c) document

b) collateral d) interest

17. Banks provide almost all payment services, and a … … is considered indispensable by most businesses, individuals and governments.

a) pass book c) letter of credit

b) credit book d) bank account

18. Also, most … enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank.

a) banks c) clerks

b) ATMs d) tellers

19. One party, for example the trust department of a bank, holds a … … or acts in a fiduciary capacity to another, such as one who funds are entrusted to it for investment.

a) settlement date c) trust agreement

b) fiduciary relation d) deposit account

20. Getting a ... is a time-consuming process, but, considering that it will usually be paid over 15 or 30 years, it is worth a great deal of efforts to save money in the long run

a) overdraft c) insurance

b) trade draft d) mortgage

21. The financial institutions which specialize … buying bills at a discount are called discount houses.

a) about c) on

b) for d) in

22. A cheque is a special form of a bill of exchange, namely, one payable on demand and drawn … a banker.

a) on c) in

b) at d) from

23. The effect of a special crossing is that the cheques can only be paid ... an account with the specified bank.

a) in c) with

b) into d) on

24. Failure to pay back a debt,

  1.  default c) redemption
  2.  overdraft d) pass

25. Usually this involves a detailed analysis of the documentation and collateral... the largest loans.

  1.  for c) with
  2.  to d) on

26. A loan agreement whereby the Lender has a legal claim on the borrowers property if repayments are not made

  1.  mortgage c) lien
  2.  leverage d) security

27. Difference between the price at which a financial asset is sold and its original cost (assuming the price has gone up). -

  1.  spread c) capital
  2.  profit d) capital gains 

28. Funds obtained by selling share» of ownership in the company -

  1.  equity c) yield
  2.  profit d) spread

29. Payments to shareholders from a company's earnings –

a)profit c) dividends 

b) yield d) interest

30. The net increase in assets which can be ploughed back into the business

a) profit c) dividend

b) yield d) retained earnings

31. These loans arise from negotiation between the bank and its customers and result in a written agreement ... to meet the specific credit needs.

  1.  designing c) having designed
  2.  designed d) being designed

32. The rate of interest at which a loan ... may be thought of as the "price" of borrowing money.

  1.  raised c) is raised
  2.  risen d) is risen

33. Before ... practically any loan, a bank asks for some security, i.e. a kind of insurance.

  1.  agreeing c) agree
  2.  to agree d) having agreed

34. The board of directors of the company may decide ... the earnings back into the business.

  1.  plowing c) to have plowed
  2.  to plow d) plow

35. The multiple may look too high in relation to current earning», but not m relation to ... future earnings.

a) expected c) expect

b) expecting d) having expected

36. The most famous average is the ...

a) Dow Jones Transportation Average c) Dow Jones Industrial Average

b) Standard & Poor’s 500 d) NYSE Composite Index

37. Some use the ... because it is more representative of roe entire market.

a) Dow Jones Transportation Average c) Dow Jones Industrial Average

b) Standard & Poor’s 500 d) NYSE Composite Index

38. Companies that invest money entrusted to them by others

  1.  trust companies c) institutional investors
  2.  mutual funds d) insurance companies

39. ... is the division of potential buyers according to age, sex, lifestyle, etc. with the aim of designing & promoting goods & services to meet their specific needs.

a) downsizing c) market niching

b) repositioning d) market segmentation

40. Amounts due from customers -

  1.  credit c) trade draft
  2.  accounts receivable d) accounts payable

Variant 16

1. Valuable things owned by a company

  1.  shares c) bonds
  2.  assets d) premises 2.Falling stock market.

2. Falling stock market.

  1.  bull market c) bear market
  2.  falling market d) active market

3. Failure to pay back a debt.

  1.  default c) redemption
  2.  overdraft d) pass

4. Investors who seek large capital gains through relatively risky investment

  1.  hedgers c) private accountants
  2.  institutional investors d)speculators

5. Amounts due from customers -

  1.  credit c) trade draft
  2.  accounts receivable d) accounts payable

6. There is a lot... about securities.

  1.  to say c) saying
  2.  to be said d) having said

7. .... law, no one under 21 can buy or sell stock.

  1.  under c) on
  2.  by d) for

8. This concept, known as limited liability,... possible the growth of giant corporations.

  1.  has made c) makes
  2.  made d) make

9. As a result, such corporations generally bid the prices of preferred stocks up above the price that would have to be paid for a bond ... the same income.

  1.  to provide c) having provided
  2.  providing d) to be provided

10. For example, the companies in the video game industry boomed in the early 1980s, when it appeared that the whole world was about... into one vast video arcade.

  1.  turn c) to turn
  2.  turning d) to have turned

11. But the bottoms and tops can be hard ... when they occur.

  1.  recognizing c) recognize
  2.  to be recognized d) to recognize

12. An order to buy or sell a stock once the price of the stock reaches a specified price is called:

  1.  market order c) stop order
  2.  limit order d) time order

13. In most cases the preferred dividend is cumulative, which means that if it isn4 paid in a given year, it... by the company to the preferred stockholder.

  1.  owed c) to owe
  2.  owes d) is owed

14. But while a bond is scheduled ... by the corporation on a certain "maturity" date, a preferred stock is ordinarily a permanent part of the corporation's capital structure.

  1.  to be redeemed c) redeeming
  2.  to redeem d) redeemed

15. The reason is that for corporations ... to invest for fixed income.

  1.  desired c) desiring
  2.  to be desired d) to desire

16. Misys is a global … … company that provides innovative packaged software solutions to help retail banks improve business processes.

a) wholesale banking с) retail banking

b) commercial bank d)insurance

17. ... are used primarily in international trade transactions of significant value.

  1.  letters of credit c) credit rating
  2.  bank notes d) trade drafts

18. A loan granted on the basis of the borrower's credit rating rather than on the basis of collateral

  1.  unsecured loan c) overdraft
  2.  credit d) promissory note

19. ... of the largest 1,000 banks in the world grew by 6.8% in the 2008/2009 financial year to a record $96.4 trillion while profits declined by 85% to $115bn.

  1.  assets c) volumes
  2.  values d) rates

20. In real estate, a … … a document wherein specific financial Interest in the title to real property is transferred to a trustee, which holds it as security for a loan (debt) between two other parties.

  1.  trust agreement c) trust deed
  2.  fiduciary relation d) covenant

21. Banks used to accept the bills ... behalf of their customers who wanted their bills to be considered better.

  1.  for c) on
  2.  at d) from

22. They buy bills, then collect the proceeds ... the day of maturity and make a profit.

  1.  on c) in
  2.  at d) from

23. The two vertical lines constitute a crossing which ensures that the cheque cannot be cashed ... a bank.

  1.  on c) in
  2.  at d) from

24. That is why granting credits ... qualified borrowers is the principal economic function of banks.

  1.  for c) with
  2.  to d) on

25. If the corporation is sold or liquidates, the preferred stockholders have a claim ... a certain portion of the assets ahead of the/common stockholders.

  1.  to c) on
  2.  for d) -

26. Documents giving title to property rights which are deposited with a creditor as security for a loan and returned on repayment of the loan.

  1.  guarantee c) collateral
  2.  mortgage d) security

27. Companies that invest money entrusted to them by others.-

  1.  trust companies c) institutional investors
  2.  mutual funds d) insurance companies

28. A certificate of indebtedness sold to raise funds -

  1.  share certificate c) share
  2.  accounts receivable d) bond

29. Money owed by customers -

  1.  accounts payable c) profit
  2.  accounts receivable d) debt

30. Percentage increase in the value of an investment-

  1.  rate of return c) dividends

b) yield d) interest

31. Historically, commercial banks … to make short-term loans to businesses.

a) have preferred c) prefer

b) preferred d) are preferring

32. One of the most difficult tasks in ... to business firms is deciding how to price the loan.

a) lend с) having lent

b) lending d) lent

33. With the overdraft facility, a company opens an account with the bank and an overdraft with a... limit is granted on the account.

  1.  specifying c) being specified
  2.  having specified d) specified

34 The board of directors of the company may decide ... the earnings back into the business.

  1.   plowing c) to have plowed
  2.  to plow d) plow

35. Investors will bid a stock price up to a higher multiple if a company's earnings are expected ... rapidly in the future.

a) growing c) to grow

b) grow d) will grow

36. Before … practically any loan, a bank asks for some security, i.e. a kind of insurance.

a) agreeing c) agree

b) to agree d) having agreed

37. The rate of interest at which a loan … may be thought of as the “price” of borrowing money.

a) raised c) is raised

b) risen d) is risen

38. The most famous average is the …

a) Dow Jones Transportation average c) Dow Jones Industrial Average

b) Standard & Poor’s 500 d) NYSE Composite Index

39.  Also, most... enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank.

  1.  banks c) clerks
  2.  ATMs d) tellers

40.  The percentage ... shows dividends as a percentage of the share price.

  1.  rate c) profit
  2.  yield d)margin


 

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