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Файл:The world of business. Tutorial
.pdf
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4. A document which shows all your withdrawals and deposits (usually for
one month) is called a “bank ..... ”.
a) stapler
b) statement
c) bill
5. What's another way to say “to withdraw”?
a) to make out
b) to stake out
c) to take out
6. I’d like to ..... some money to my other account.
a) transfer
b) change
c) switch
7. A cashier’s check is a check that’s ..... by a bank.
a) guaranteed
b) guarantee
c) warrantee
8. Another way to say “debit card” is ..... .
a) credit card
b) plastic card
c) bank card
9. Is there ..... (= a cash machine) around here somewhere?
a) an electronic machine
b) an ATM
c) a money machine
10. If you’ve lost your bank card you can ..... for a new one.
a) reply
b) apply/reapply
c) fill
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Exercise 7. Fill in the gaps with the words from the list:
a) interest, goods, account, deducted, transactions, purchase, identity,
accepted, checks, withdrawals.
Request a card for an existing …. .
Open a new checking account.
US Airways Debit Card Features:
Receive 3,000 bonus miles after making your first …. .
Earn one mile for every $2 in purchases.
Earn one mile for every dollar spent on US Airways …. and
services purchased directly from US Airways.
Easy tracking of all your itemized …. on your checking account
statement.
Photo Security® - your picture on the card keeps your …. as the
card holder clear.
Set your own limits for daily cash …. and purchases.
Your US Airways Bank of America Debit Card is …. at millions of
locations worldwide, including places that don’t take …. like gas stations,
restaurants and online merchants.
The money for your purchases is …. from your Bank of America personal
checking account.
Your US Airways Debit Card is not a credit card, so you don’t pay ….
charges.
(advertisement for a debit card from Bank of America)
b) account, insurance, fees, access, interest, transaction, overdraft, fixed,
interest, mortgage.
1. A …. interest rate loan is a loan where the interest rate doesn't
fluctuate during the fixed rate period of the loan.
2. An …. occurs when withdrawals from a bank account exceed the
available balance.
3. …. is normally charged at the agreed rate.
4. When a customer makes a purchase using their debit card without
using their PIN, the …. is treated as a credit transaction.
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5. A merchant may improperly debit a customer’s …. due to human
error.
6. A …. loan is used by purchasers of real property to raise funds to
buy real estate.
7. My experience has been that investment firms, banks and ….
companies charge higher …. and have extra …. compared to brokerage
houses.
8. What you should be looking for is the one that provides the best
service, lowest fees and easiest …. to use.
Exercise 8. Translate the following sentences.
1. Основная часть денежной массы хранится на срочных вкладах
(депозитах), то есть на счетах, приносящих процентный доход, но
ограничивающих право владельца изымать средства с краткосрочным
уведомлением.
2. Хотя наличные деньги имеют свои преимущества, трудно
представить себе деятельность компании без использования чеков.
3. Некоторые финансовые институты предоставляют кредитные
карточки бесплатно, но большинство взимает за это комиссионные в
размере от 25 до 250 дол. в год.
4. Деньги все время находятся в обращении. Люди получают их в
форме заработной платы, которую они тратят затем на товары и
услуги. Это движение денег от частного лица к частному лицу и от
фирмы к фирме обеспечивается сетью финансовых институтов.
5. Коммерческие банки – это компании, которые ради извлечения
прибыли принимают вклады и используют их для выдачи ссуд.
6. До тех пор пока доходы от предоставления займов превышают
как расходы, так и проценты, выплачиваемые по депозитам, банк
получает прибыль.
7. Как правило, финансовые компании назначают высокие
процентные ставки, потому что они готовы предоставлять кредиты
клиентам, которые не могут получить их в другом месте, так как их
операции отличаются высокой степенью риска.
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Exercise 9. Translate into English.
Центробанк России – центральный банк государства
Центральный банк РФ (Банк России) является центральным
банком страны. Он подотчетен Государственной Думе Российской
Федерации, которая назначает его Председателя, по представлению
Президента России, и независим от исполнительных и
распорядительных органов государственной власти. Основные его
задачи:
обеспечение устойчивости национальной денежной единицы;
организация денежного обращения, расчетов и валютных
отношений;
защита интересов кредиторов и вкладчиков путем определения
правил деятельности коммерческих банков и контроля за их
соблюдением;
содействие развитию экономики, созданию единого рынка
страны и его интеграции в мировую экономику.
Центральный банк России регулирует деятельность
коммерческих банков в целях создания общих условий для их
функционирования и внедрения принципов добросовестной
банковской конкуренции. В текущую деятельность коммерческих
банков Центральный банк не вмешивается. Регулирующие и
контрольные функции Центробанка направлены на поддержание
стабильности денежно-кредитной системы. С этой целью он
определяет порядок формирования банками фондов, предназначенных
для покрытия возможных убытков, а также устанавливает для них ряд
экономических нормативов, среди которых: минимальный размер
уставного капитала; показатели ликвидности баланса; размер
обязательных резервов, размещаемых в Центробанке РФ и т.д.
Speaking
Exercise 1. What kind of bank account do you think each of these people
might have opened?
1. A ten-year-old child inherits $40.000, which he won't be able to
touch until he's 18.
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2. An elderly woman keeps $300 in her safe “for emergencies”. Her
relatives persuaded her to pay the money into a bank account for safety.
3. A worker needs an account so that his wages can be paid at the end
of the month.
4. A young family wins a large amount of money in the lottery.
5. A student needs a bank account for her grant.
6. A young man wants to save money to buy a car.
Exercise 2. What kind of credit did each of these bank customers ask for?
1. Mr. and Mrs. Garrington sold their old house and bought a new one.
However, as the new house was much larger and more expensive, they
needed credit to pay the difference
2. Jenny is a student whose income only just meets her expenses. In the
winter months her heating and electricity bills are higher, and without credit
she wouldn’t always be able to pay them.
3. Adam wants to buy a car, but only has enough savings to buy an old
one. He would rather make use of his bank’s credit facilities to buy a newer
model which hopefully wouldn’t need repairing so often.
4. Mrs. Brown has her own company. She travels a lot on business and
likes to make use of her bank’s credit facilities to spread her expenses over
a longer period.
5. Mr. Price has to pay the rent for his apartment on the first, day of
every month. However, he only receives his salary on the third day of the
month. Without his bank’s credit facilities, he wouldn't always be able to
pay the rent.
Exercise 3. Choose any bank you want and make up an advertisement for
it. Make a small presentation of the bank. In your advert presentation
speak about its history of foundation, its services, interest rate, and
special discount system for loyal clients.
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Exercise 4. Answer the following questions.
1. What are the main types of banks?
2. What functions does the Central bank implement?
3. What functions do Commercial Banks have?
4. What basic types of bank accounts are there?
5. What forms of credit can you name?
6. What services can a Commercial bank offer?
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Unit 7
STOCKS AND SHARES
Exercise 1. Read and translate the text.
Stocks and Shares
Quick Facts on Stocks and Shares
Owning a stock or a share means you are a partial owner of the
company, and you get voting rights and some dividends on the
shares.
Over the long run, stocks have historically averaged about 10%
annual returns. However, stocks offer no
guarantee of any returns and can lose value.
Investments in stocks can generate returns through dividends.
How does one trade in shares?
Every transaction in the stock exchange is carried out through
licensed members called brokers.
To trade in shares, you have to approach a broker. However, since
most stock exchange brokers deal in very high volumes, they generally do
not entertain small investors. These brokers have a network of sub-brokers
who provide them with orders.
The general investors should identify a sub-broker for regular
trading in shares and place his order for purchase and sale through the subbroker. The sub-broker will transmit the order to his broker who will then
execute it.
What are active Shares?
Active shares are shares in which there are frequent and day-to-day
dealings, as distinguished from partly active shares in which dealings are
not so frequent. Most shares of leading companies would be active,
particularly those which are sensitive to economic and political events and
are, therefore, subject to sudden price movements. Some market analysts
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would define active shares as those which are bought and sold at least
three times a week. Easy to buy or sell.
Corporations
In order to understand what stocks are and how stock markets work,
we need to dive into history specifically, the history of what has come to be
known as the corporation, or sometimes the limited liability company
(LLC). Corporations in one form or another have been around ever since
one guy convinced a few others to pool their resources for mutual benefit.
The first corporate charters were created in Britain as early as the
sixteenth century, but these were generally what we might think of today as
a public corporation owned by the government, like the postal service.
Privately owned corporations came into being gradually during the early
19th century in the United States, United Kingdom and Western Europe as
the governments of those countries started allowing anyone to create
corporations.
In order for a corporation to do business, it needs to get money
from somewhere. Typically, one or more people contribute an initial
investment to get the company off the ground. These entrepreneurs may
commit some of their own money, but if they don't have enough, they will
need to persuade other people, such as venture capital investors or banks, to
invest in their business.
They can do this in two ways: by issuing bonds, which are basically
a way of selling debt (or taking out a loan, depending on your perspective),
or by issuing stock, that is, shares in the ownership of the company.
Long ago stock owners realized that it would be convenient if there
were a central place they could go to trade stock with one another, and the
public stock exchange was born. Eventually, today's stock markets grew out
of these public places.
Stocks.
A corporation is generally entitled to create as many shares as it
pleases. Each share is a small piece of ownership. The more shares you
own, the more of the company you own, and the more control you have
over the company’s operations. Companies sometimes issue different
classes of shares, which have different privileges associated with them.
So a corporation creates some shares, and sells them to an investor
for an agreed upon price, the corporation now has money. In return, the
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investor has a degree of ownership in the corporation, and can exercise
some control over it. The corporation can continue to issue new shares, as
long as it can persuade people to buy them. If the company makes a profit,
it may decide to plow the money back into the business or use some of it to
pay dividends on the shares.
Public Markets
How each stock market works is dependent on its internal
organization and government regulation. The NYSE (New York Stock
Exchange) is a non-profit corporation, while the NASDAQ (National
Association of Securities Dealers Automated Quotation) and the TSE
(Toronto Stock Exchange) are for-profit businesses, earning money by
providing trading services.
Exercise 2. Find English equivalents of the following words and
expressions in the text:
государственные ценные бумаги, акции, частичный владелец,
избирательные права, длительный период, поступления за год,
фондовая биржа, торговать акциями, быть подверженным,
объединить ресурсы, обоюдная выгода, устав корпорации, начальные
инвестиции, сдвинуться с места, выделить деньги, венчурные
инвесторы, выпускать облигации, взять ссуду, иметь право на, иметь
контроль над, превращать в капитал (реинвестировать),
некоммерческий, коммерческий.
Exercise 3. Translate the following words and expressions from the text
into Russian:
a partial owner, voting rights, dividends on the shares, annual returns,
licensed members, to trade in shares, to deal in very high volumes, a
network of sub-brokers, place his order, day-to-day dealings, active shares,
subject to sudden price movements, to dive into history, limited liability
company, to pool their resources, mutual benefit, corporate charters, an
initial investment, to get the company off the ground, issuing bonds, to sell
debt, to take out a loan, to issue stock, to trade stock, to be entitled to, piece
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of ownership, to exercise some control over, to plow the money back, to
provide trading services, for-profit businesses, a non-profit corporation.
Exercise 4. Put a tick next to the sentence if you think it’s true, and
correct it if it’s false.
1. Owning a stock or a share means you are a full owner of the
company.
2. The shareholder gets 10% annual returns.
3. Brokers must have a license for transactions in the stock exchange.
4. Brokers provide investors with orders.
5. A sub-broker executes the order.
6. Most shares of leading companies are active.
7. Active shares are sold and bought three times a week.
8. The first corporate charters were owned by government.
9. Issuing bonds is a way of selling debt.
10. A corporation can create only a set amount of shares.
11. A corporation can plow its profit into the business or use it to pay
dividends.
12. NASDAQ (National Association of Securities Dealers Automated
Quotation) is a non-profit organization.
Exercise 5. Choose the best answer.
1.The stock market has been ..... for three days straight.
а) fall
b) lower
c) down
2. My stocks are ..... 20% this month.
a) high
b) up
c) higher
3. I’m hoping for a 10% ..... over the next year.
a) increasing
b) increase
c) increased
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