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V. Milovidov «English for Financial

Management Experts»

Exercise 4. Answer the following questions.

  1. What are the businesses called that distribute or deal in money?

  2. What are the most familiar financial institutions?

  3. What services does a commercial bank offer to its customers?

  4. What do the borrowers do sometimes to back up the loan?

  5. What types of accounts do commercial banks offer to their customers?

  6. What does the interest rate depend on?

  7. What kind of technology are banks using now?

  8. What are the electronic funds transfer doing with money?

  9. What new services are the automatic teller machines providing for the customer?

  10. What innovation makes it easy for the customer to handle all kinds of financial transactions outside his home state?

  11. What process in modern banking is urging the banks to diversify?

Exercise 5. Fill in the blanks with adjectives many and much.

1. ___________insurance companies protect their customers against risk.

2. It takes one___________money to join a credit union.

3. Startinga business without financial support from the bank may cause you

trouble.

4. Banks in the USA are subject to____________government regulations.

5. Savings and Loan Associations attract____________small savers who

do not want to have any risk.

Exercise 6. Substitute the words in the statement with the given synonyms.

Statement: There are many commercial banks that offer their customers a wide range of financial services.

Example: There are a lot of commercial banks that offer their customers a wide range of financial services.

financial institution clients individuals and businesses

provide for banking render

different were a number of

Statement: Banks are now using computer technology to perform various financial transactions.

Example: Financial institutions are now using computer technology to perform various financial transactions.

business

electronic

numerous deals these at present

employing

methods

handle

Exercise 7. Translate into English.

1. Существуют ли бесплатные банковские услуги? Нет, бесплатных банковских услуг не бывает. 2. Многие банки устанавливают плату за услуги. 3. Компании с хорошим финансовым положением получают некоторые привилегии. 4. Много ли денег на вашем расчетном счете? Да, много. 5. В моем справочнике один коммерческий банк и три страховые компании.

Exercise 8. Before you listen discuss the following statements. How do you think whether they are true or false? Then listen and check if you were right.

  1. The earliest kind of money was used about 3,000 years ago.

  2. Shells were used a kind of fiat money.

  3. The first metal coins appeared in Greece.

  4. The first coins were round.

  5. Paper money first appeared in China.

  6. The idea of paper money traveled quickly to Europe.

Exercise 9. Read and play the dialogue.

Dan and Sally, university tutors, are discussing their financial problems

D: Hello, Sally!

S: Hi, Dick! Happy to see you again. How are things with you?

D: Not bad. And how are you doing?

S: I've a problem, you know. I've just wrecked my new

automobile. Had an accident. And I need money to have it

repaired.

D: Oh, I think I can help you. Haven't you heard about the credit

union that we formed?

S: Why, no! Could you tell me what it is?

D: It was a great idea! The members of our department pooled

their money and now anyone can apply for a loan

if necessary.

S: And may I join the union?

D: Of course you may. As a rule, a credit union consists of

members of a specific group, such as university employees.

And we belong to the same university.

S: Great! And how much do I have to pay?

D: Well, we require a minimum deposit - something about

100 dollars. And our credit union pays a higher interest rate

than many other financial institutions pay on similar accounts.

S: That also sounds good. And who manages the pool?

D: I do.

S: Fine! Then I'll have my car repaired pretty soon!

Words and phrases to remember

how are things with you?/how are you doing? - как дела?

pool - общий фонд

to pool - создавать общий фонд

to apply for - обращаться за чем-либо

to join - вступать

to require - требовать

that sounds good! - это (звучит) хорошо

to manage - управлять; успешно справляться с чем-либо

pretty soon - очень скоро

Exercise 10. Make up similar dialogues.

  1. You are starting a new business and apply for funds to a commercial bank.

  2. Your company has a good reputation and a commercial bank provides the prime rate for you.

  3. You deposit some of your money into a bank which offers you accounts of two types. Choose one of them.

Exercise 11. Translate the following sentences.

  1. Правительственные предписания ограничиваю спектр услуг которые может предлагать банк.

  2. Государственный банк запрещает выплачивать проценты по расчётному счёту.

  3. Финансовые учреждения предлагают новые виды вкладов.

  4. Некоторые банки экспериментируют со счетами.

  5. Многие компании устанавливают в своих зданиях банкоматы.

  6. Федеральное правительство использует электронную систему передачи средств.

Exercise 12. Put the verb in brackets into the right form.

  1. Large commercial banks (install) automatic teller machines nowadays.

  2. Customers usually (use) their debit cards to transfer money from their checking account to the merchant's account.

  3. As a rule a customer (pay) a fee of forty cents for each transaction outside the state.

  4. Financial supermarkets (appear) all over the USA these days.

  5. The customers often (look) around for the highest return on their savings or the lowest rate they can get on a loan.

  6. Small banks now (compete) with larger banks by finding a special need and meeting it.

Exercise 13. Make up sentences after the following models.

Model: to open a checking account

I am thinking of opening a checking account.

  1. to use the electronic funds transfer system.

  2. to transfer money outside the state.

  3. to provide new services to my customers.

  4. to buy 100 shares of stock.

  5. to sell some bonds.

  6. to plan a number of financial transactions.

  7. to assign my major customers a personal banker.

Model: to balance my checkbook at last

I am going to balance my checkbook at last.

  1. to drop unprofitable services.

  2. to ask for financial advice

  3. to wait on customers

  4. to install an automatic teller machine in my shopping center

  5. to attract more customers by providing less expensive services

  6. to pay a fee of a dollar for this banking transaction

  7. to use my debit card to a better purpose

Exercise 14. Read the text, do the exercises.

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