7. Из приведенных вариантов ответа укажите номер предложения, содержащего правильный ответ на поставленный вопрос:

Why is preferred stock safer than common stock?

1… because preferred stockholders have stocks held in trust for others.

2… because preferred stock is kept in banks.

3…because preferred stockholders receive dividends before they are paid to the common stockholders.

2 семестр. Вариант 1

I. Перепишите следующие предложения, определите в каждом из них видовременную форму и залог глагола-сказуемого. Переведите предложения на русский язык.

1. The contract will be signed next month.

2. The cheque was countersigned in the presence of the cashier.

3. The currency of payment has been confirmed.

4. The matter is being clarified.

2. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на разные значения слов it, that, one.

1. It is necessary to organize a meeting for all staff members.

2. The job that they asked us to do was almost impossible.

3. Sellers compete with one another to produce goods and services at reasonable prices.

3. Перепишите предложения и переведите их на русский язык, обращая внимание на разные значения глаголов to be, to have, to do.

1. This date is considered to be the date of delivery.

2. The Sellers have sold and the Buyers have bought 1000 diamonds in accordance with the specifications enclosed with the present Contract.

3. We are doing business with many firms in Eastern Europe and we have never received any complaints.

4. The equipment indicated in Clause 1 is to be delivered in the first half of September.

4. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на бессоюзное подчинение.

1. 1 think she has made a mistake in her calculation. 2. The firm he works for is one of the largest companies in Europe.

5. Перепишите следующие предложения и переведите их на русский язык, обращая внимание на функцию инфинитива.

1. They promised to reserve accommodation at the hotel.

2. To close an account is me only sensible thing to do.

3. An exhibition to be arranged is of great importance for us.

4. The purpose of our meeting is to discuss the delivery terms.

6. Прочтите и письменно переведите текст.

6. Прочтите и письменно переведите текст, предварительно вставьте пропущенные слова по смыслу (debt, interest, maturity, corporate, development, redemption, investment).

LONG-TERM FINANCING

1. When a business needs funds to constmct a new assembly line or to do extensive research and … which may not begin to bring in revenues for several years, short term financing wouldn't work. hi this case, business will need long term sources of funds.

2. Firms may meet long term needs by increasing the company's … either by getting loans or by selling bonds.

3. A long term loan is a loan that has a … of from one to ten years. Within this period of time the firm pays interest on the debt.

Sometimes the lender protects its financial position by requiring that the company obtain the lender's permission before taking on any additional long term dept. If the loan is particularly risky, the lender may even require the firm to limit or eliminate dividends to stockholders.

4. If the firm wants to be free of lender's restrictions, it may issue bonds. These are long term debts with a maturity date of 20 to 30 years in the future. Governments issue government bonds. Corporations issue … bonds which may be secured or unsecured.

5. If a company wants to sell bonds it can offer some collateral. It is difficult, if not impossible, to find investors who are willing to buy bonds which are not backed up by collateral. Only huge corporations such as AT&T can successfully issue unsecured bonds, which are called debentures.

6. Most bonds carry a face value of $1000 and pay a predetermined interest rate (the coupon rate). The company pays this … regularly according to the indenture agreement which specifies the terms of a bond issue.

7. The company may retire bonds before they mature if the indenture agreement contains a call provision. In this case the firm pays the bondholders a … redemption premium.

8. Another flexible feature in some agreements is the conversion privilege. It allows bondholders to convert their … into a stated number of shares of common stock. If the price of the company's common stock is going up, the investors can profit from conversion. Convertibility makes the bond issue more attractive to potential investors.