Section g

Test (Time limit –45 minutes)

Task 1. Read the text below and write out the correct answers on a separate sheet of paper. The first answer has been given as a model.

Model: 1 - C

Global Regulation for a Global Industry

1. Shipping is an international industry which depends upon a global _______ framework to operate efficiently.

А guiding

B ruling

C regulatory

D governmental

2. Shipping enjoys a relatively high level ‘playing field’ between maritime nations, as well as healthy ______ between individual shipping companies, of which there are around 10,000 involved in international trades, operating about 50,000 ships.

А opposition

B competition

C conflict

D struggle

3. Shipping is highly regulated at the global level, notably by the United Nations International ________ Organization (IMO), which is responsible for safety of life at sea, maritime securities and the protection of the marine environment. In addition, the International Labour Organization (ILO) establishes standards of employment and working conditions for seafarers.

А maritime

B monetary

C military

D sea

4. It is vital that regulations on matters such as construction standards, navigational rules and crew qualifications are common to all ships in international trade. When a ship sails from Brisbane to Buenos Aires, the same rules need to be applied at both ends of the voyage. The ______ would be a web of conflicting national regulations, resulting in market distortions and administrative confusion that would compromise the efficiency of world trade.

А choice

B chance

C opportunity

D alternative

5. The level of ratification and enforcement of IMO Conventions is very high in comparison with international rules adopted for land based industries. For example, the provisions of the Safety of Life at Sea Convention (SOLAS) and the International _______ for the Prevention of Pollution from Ships (MARPOL) have been implemented by virtually every maritime country. IMO regulations are enforced on a global basis and nations have the power to detain foreign ships in port if they do not conform to international rules.

А custom

B convention

C practice

D tradition

6. ILO has also adopted the Maritime Labour Convention (MLC) which is shortly expected to be implemented on a global basis, to provide a level playing field with regard to seafarer’s employment ________.

А opportunities

B moments

C standards

D chances

7. The safety record of the industry and its environmental performance are impressive. National and regional policy makers occasionally question the ______ of the international regulatory regime which shipping operates.

А competence

B efficiency

C ability

D skills

8. But when consideration is given to the difficulties involved in securing international ________ on complex technical requirements, IMO is a model of efficiency.

А harmony

B understanding

C agreement

D union

Task 2. From the listed below words choose the right one to bridge the gaps in the text which follows.

a) economic	d) prospects	g) inflation	j) insecurity
b) strong	e) producers	h) payments	k) cooperation
c) attempts	f) interest	i) recession	l) world

Problems in Economic Policy: the Worsened Economic Climate.

In the mid 1970s, after 30 years of rapid ____ (9) ____ growth and the unprecedented prosperity the major Western economies, the ___ (10) ___ for continued growth became much less favorable. This resulted partly from the acceleration of ___ (11) ____ in many countries, bringing with it the ____ (12) ___ and militancy in industrial relations. However, the main cause was the remarkable increase in the price of oil in 1973 and again in 1979, a fuel on which the Western economies had become heavily dependent. This produced a ____ (13) ____ burst of inflation; and, because much of the oil revenue occurring to ____(14) ____ could not be spent, gave rise to an unprecedented balance of _____ (15) ____ problems and severe world recession. There was a danger that, through the lack of international _____ (16) ____ and of business confidence and misplaced _____ (17) ____ by countries to cure their immediate economic problems, mass unemployment on the scale of the 1930s would again appear. The international infectiousness of high ____ (18) ____ rates, international ____ (19) ____ and rapid inflation made it hard for any one country to avoid these ills. The 1980s and 1990s were a period of relatively slow ____ (20) _____ economic growth.

Task 3. Fill in prepositions where it is necessary in the text entitled “Global Markets”.

The rapid spread ___(21)____ the financial crisis and recession have shown us just how globalized the world’s capital markets have become. According ____(22)____ the International Monetary Fund, cross-border capital flows increasingly faster than both world production and trade ____(23)____ the past ten years reaching $6.4 trillion or 14 per cent ____(24)____ world Gross Domestic Product (GPD) ___(25)____ 2007.

The main risk ___(26)___ global capital markets is that international investors are usually interested only ____(27)____ short-term profits. Companies’ quarterly results must be impressive or investors will take their money elsewhere. This makes long-term planning and investment difficult. Firms listed ____(28)____ large exchanges have to conform ____(29)___ international standards, so business methods that were acceptable ____(30)____ the home country may now be forbidden. This can greatly change how the firm is run – and not always ____(31)____ better. There is the risk that a company can lose favor very quickly ____(32)____ failing to meet expectations. The rush to invest ____(33)____ a firm becomes a race to get money out ____(34)___ it if a company is seen as lacking credit worthiness. This view can spread like a disease.

Task 4. For questions 36-50 read the text below and then decide which word best fits each space. Write the letter of this word (A, B, C or D) next to the number on your answer sheet.

Fewer than a third of advertising executives believe their campaigns help to sell products, a ___(35)___ has___(36)____. Instead they are ____(37)____ by self-doubt and insecurity and dream of ____(38)____ it all up for another career. In spite of their “whiz-kid”____(39)____ the survey of 600 advertising employees from 50 agencies found the industry weary from ____(40)____ . Forty per cent of women said sex ____(41)____ was rife and 73 per cent described advertising as a “terrible career” for working mothers, because of its unpredictability and 12-hour days. Although spending on advertising by ____(42)____ companies has increased, only 28 per cent of advertising employees were prepared to say that they ____(43)____ believed the campaigns were ____(44)____ Dominic Mills, editor of the industry’s trade magazine Campaign, which ____(45)____ the survey, was shocked by the results. “It is ____(46)____ to think that so many people in advertising believe their ____(47)____ are falling ____(48)____ of the mark but this is ____(49)____ what people privately think,” he said. Between 1990 and 1992 a fifth of people in the advertising industry lost their jobs. Asked what jobs they would most like to do instead, the _____(50)_____ said they would become barristers, writers, actors or artists.

A	B	C	D
35. questionnaire	research	investigation	survey
36. exposed	expressed	revealed	published
37. plagued	pestered	pursued	persecuted
38. taking	putting	making	giving
39. image	view	appearance	aspect
40. overtime	overwork	overpay	overdose
41. persecution	discrimination	oppression	domination
42. greater	grander	major	smaller
43. firmly	mistakenly	seriously	scarcely
44. insufficient	sufficient	successful	proficient
45. undertook	played	performed	executed
46. shattering	smashing	striking	staggering
47. interests	attempts	efforts	endeavors
48. short	outside	beyond	off
49. possible	clearly	greatly	evidently
50. most	unknown	blessed	survived