HuongThuy
Thành viên tâm huyết
I. Word form:
1. “Creditor” in Direct debit method is the same as “…originator….” (originate)
2. It’s difficult to calculate profit because of the …uncertainty… of the future price. (certain).
3. At the end of the leasing contract, the machine belongs to the…lessor…. (lease)
4. When you allow the foreign banks to debit your account, you should make a note of the credit entry in your …reconciliation….account. (reconcile)
5. He recovered stolen…valuable….the other day. (value)
6. The new product is of good quality, it’s highly …marketable…… (market)
7. Are these currencies …convertible….. (convert)? (can be changed)
8. With so many…variable…., it’s difficult to estimate the exact cost. (vary)
9. These buildings are in public…ownership… (own)
10. There is very little profit in selling home-made goods at present, business is…non-profit… (profit)
11. (consume)…Consumer…..credit enables a personal customer to buy on hire purchase.
12. In factoring (deal)…dealing … the suppliers have to decide whether to give credit and if so how much and for how long .
13. If the supplier’s invoices are not (pay) …paid…the customers have the benefit of the goods without having to fund them.
14. Supplying on credit is like (provide)…providing….a loan.
15. Trade credit arises in situations of free (compete)…competition…where businesses compete with each other to supply the same goods at similar prices.
16. Those companies are not profitable under such an (effect) …ineffective…. policy.
17. The staff in this bank work very hard , however their efforts seem to be (produce) …unproductive… .
18. The economy was (balance) …unbalanced…by over production.
19. Many of these economic terms are (comprehend) (= bảo trợ, bảo hộ) incomprehensible to ordinary people.
20. In trade late payments are (desire) (=mong muốn, ao ước) …undesirable….but sometimes are (avoid) …unavoidable.. .
II. Rewrite the following sentences:
1. I’m sorry now that I didn’t apply for a business expansion loan.
- I’m sorry not to have applied for a business expansion loan……………………..
2. We may not be able to increase your agreed limit.
- Your application for an increase in your credit limit may have to be turned down (đáp án khác: not be accepted)
3. It’s quite pointless to complain.
- There’s no point in complaining……
4. The workers only called off the strike after a pay offer.
- Only after of pay after did the workers call off the strike………………………..
5. The bank let me use my credit card for the first time last year.
- I was allowed to use credit card for the first time last year……………………..
6. Our personal loan hasn’t been confirmed yet.
- We haven’t received the confirmation of our personal loan……………………..
7. The clerk told me that my travellers’ checks would be ready next Monday.
- According to the clerk, my traveller’s checks would be ready next Monday
8. It’s not certain that John will get the overdraft permission.
- It’s open to question whether I will get the overdraft permission…………….
9. Alan spent too much on this new house, and this led to his overdraft.
- Alan’s overdraft was led by spending too much on this new house.…………..
10. A banker’s draft will charge you at least $20.
- You won’t be able send the money by banker’s draft for less than $ 20…..
11. The central bank controlled inflation by imposing a credit squeeze on banking system.
- Inflation was controlled (by the central bank) by imposing.…………………….
12. If you make any kind of investment you should learn as much as possible about how the money will be used.
- Before making any kind of interest, you should learn as much as possible about how the money will be used………………………………………………………………………………………………
13. They shared the profits equally.
- They divided the profits in equal shares…………………………………………………..
14. There are a lot of people trying to get this job.
- There is a strong competition for this job………………………………………………….
15. Although we disagreed on details, we were in substantial agreement over the plan.
- In spite of our disagreement on details, we were in substantial agreement over the plan
16. People who don’t have insurance have to pay for their own repairs.
- People without having insurance have to pay for their own repairs…………
17. If you lose your card, the maxi-mum liability you have to pay is 25 USD.
- In case you lose your card, the maxi-mum liability you have to pay is 25 USD
18.” How long have they banked with you “. The bank clerk asked me.
- The bank clerk asked how long they had banked with me………………………….
19.” Why don’t you invest in this project?”.
- He advised me to invest in that project……………………………………………………..
20. Two people have been fired for sleeping on the job so far.
- The management has fired two people because of sleeping on the job so far
21. He has just taken out a long-term loan from his bank.
-A long-term loan has just been taken out from his bank…………………………..
22. They did not go to the bank as usual because they were ill.
-Because of being ill they did not go to the bank as usual………………………….
23. The loan is too big for him to pay back immediately.
- The loan is so big that he can not pay back immediately……………………….
24. Fill in the form and give it to the cashier.
-The bank clerk asked me to fill in the form and give it to the cashier.……..
25. The director is the oldest in my bank……………………………………………………….
- No one in my bank is older than my director.…
26. I have had a close relation with this bank for 5 years.
- I started to have a close relation with this bank for 5 years…………………….
27. I’m fond of the staff in this branch although they sometimes behave terribly.
- In spite of theirs terribly behaviors sometime I’m fond of the staff in this bank..
28. My electricity bill is very big and I can not pay it off.
- My electricity is too big for me to pay it off……………………………………………..
29. Her mother has never withdrawn money from ATMs before
- This is the first time her mother has withdrawn money from ATMs………
30. “Please cross the mistakes out when you write a cheque” the bank clerk said.
- The bank clerk asked me to cross the mistakes out when i wrote a cheque…………
III. Sentence building:
1. Buying/ invoices/ way/ debts.
Buying unpaid invoices is a way of raising money from debts
2. With/ open account/ price/ agree/ goods/ ship.
With the open account method, the price is agreed before the goods are shipped
3. L/ C/ represent/ safest/ fastest/ way/ securing settlement/ export/ as/ exporter/ retain/ control/ document of title/ goods.
L/C represents a safest and fastest way of securing settlement for export as the exporter retains to control the document of title of the goods
4. Documentary collections/ mean/ there/ documents/ include/ collection order/ which/ send/ exporter’s bank/ collection/ importer.
Documentary collections means that there are documents including collection order which is sent to the exporter’s bank to collection from the importer.
5. With L/ C/ there/ risk/ issuing bank/ because/ credit/banks/ deal in/ documents/ not/ goods.
With L/C, there is a risk to the issuing bank because the credit only deals in the documents not in goods
6. Bill of exchange/ credit instrument/ which/ issuing bank/ pay/ sum of money/ certain time/ after sight.
Bill of exchange is a credit instrument which orders the issuing bank have to pay a sum of money at a certain time after sight.
7. Banks/ need/ take assets/ know as/ collateral security/ when/ grant loans.
Banks need to take assets know as collateral security when granting loans
8. To attract/ customers/ provide/ various needs/ banks/ develop/ methods of payment.
To attract more customers and to provide for their various needs, the banks have to develop different methods of payment.
9. Free market/ businesses/ competition/ more sales.
In the free market, many businesses have to fight in tough competition to get more sales
10. Banks/ provide/ short-term/ finance/ mean/ overdrafts/ loans/ exporters.
Banks are providing short-term finance by means of overdrafts or loans to the exporters.
IV. Choose the correct answer:
1. Market economy is a system of producing wealth based on the free operation of business and trade… ..........government controls.
A. within B. without C. of D. under
2. Closed economy is the economy of a country that does not participate in international trade and … no exports, imports, or economic transactions with any other country.
A. are of B. have C. has D. doesn’t have
3. Barter economy has no medium of exchange and goods are… directly or swapped for other goods.
A. traded B. bought C. sold D. paid
4. Asset is the … of a person, company, etc, that has value and that may be sold to pay a debt.
A. property B. poverty C. prosperity D. prospect
5. Liability is the amount of debt that … paid.
A. must be B. cannot be C. has to D. had to
6. Economy of scale is a reduction in costs because of an increase in the scale of …
A. product B. production C. produce D. producing
7. Many companies are now expanding to … from economies of scale.
A. prosper B . transfer C. benefit D. profit
8. To default is to fail to fulfill a contract, agreement or duty or to fail to… a debt.
A. pay B. pay for C. pay out D. pay on
9. Takings is the amount of money that a shop, theatre, etc, gets… selling goods, tickets, etc.
A. to B. for C. from D. on
10.What is the name of the document that an exporter receives from the shipping company when goods have been placed on board the ship?
A. invoice C. certificate of origin
B. bill of lading D. bill of exchange
11. A documentary letter of credit is opened at the request of one of your customers. Is the customer:
A. the exporter C. the importer
B. the beneficiary D. the drawer
12. Under a documentary letter of credit which is:
(i). the bank in the buyer’s country,
(ii). the bank in the seller’s country?
A. advising bank; issuing bank
B. issuing bank; remitting bank
C. issuing bank; advising bank
D. advising bank; presenting bank
13. Your customer asks your bank to handle a collection outwards on her behalf. Are you:
A. the presenting bank C. the issuing bank
B. the remitting bank D. the advising bank
14. A company that has the use of a vehicle upon payment of a sum of money on a regular basis over a long period of time is using the finance service of:
A. factoring C. hire purchase
B. leasing D. installment credit
15. A company customer of the bank obtains finance against its debtors, protection against bad debts and has a sales ledger accounting service. It is using:
A. invoice discounting C. factoring
B. leasing D. A discount house
V. Gap-filling
1. Banking is similar to industry (1) …in ….that it makes a profit by selling; The difference is that a bank sells services, or “products” rather (2) …than …. actual physical goods. A bank conducts its business (3) …by ….offering a comprehensive range of financial products to the public in order to(4) …attract ….deposits. As we have seen earlier, the larger a bank’s deposit base, (5) …the …..more money it is able to lend, and through this (6) …lending …. a bank earns its profit. It is evident therefore, that the range of products that a bank offers their (7) …customers …..will have a vital impact (8) …on ….the size of a bank’s deposit base, and therefore on its lending. Of equal importance is the manner in (9) … which ….these products and the bank itself are presented (10) …to ….the public and this in turn is represented by the quality of bank services.
2. An overdraft facility is an agreement by (1) …which….a customer is allowed to withdraw money in excess (2) …of ….the available credit balance, up to an agreed (3) …limit ….. This facility is available only (4) …on …. a current account. An overdraft facility (5) …allows ….traders and people in business the flexibility of paying for goods or services immediately (6) …before ….receiving payment from their own buyers. Overdraft facilities are reviewed at regular intervals, for example, (7) …say …. six months. The bank only extends such a facility subject to the condition that repayment of the debt will be made by the customer(8) …on …demand.
3. Leasing is a contractual arrangement (1) …whereby… one party, in return (2) …for …. an agreed rent, uses a capital asset owned (3) …by ….another party Such leased assets (4) …are ….usually plant and equipment but may include other assets such as aircraft, ships, containers and oil rigs.
Occasions arise where a company (5) …needs ….to buy capital plant and equipment but is (6) …unable ….to do so even on installments basis. This may be because the company is short (7) …of ….cash, and the position would get worse with the additional purchase of fixed assets; or perhaps the plant carries a high obsolescence risk.
Such a company might consider (8) …leasing ….the plant or machinery it requires. To do this the company approaches a leasing company which will (9) …buy ….the goods from the manufacturer. The manufacturer gets paid (10) …in …. full by the leasing company, usually after installation at the hirer’s premises.
Only for reference
(Cont'.......)
1. “Creditor” in Direct debit method is the same as “…originator….” (originate)
2. It’s difficult to calculate profit because of the …uncertainty… of the future price. (certain).
3. At the end of the leasing contract, the machine belongs to the…lessor…. (lease)
4. When you allow the foreign banks to debit your account, you should make a note of the credit entry in your …reconciliation….account. (reconcile)
5. He recovered stolen…valuable….the other day. (value)
6. The new product is of good quality, it’s highly …marketable…… (market)
7. Are these currencies …convertible….. (convert)? (can be changed)
8. With so many…variable…., it’s difficult to estimate the exact cost. (vary)
9. These buildings are in public…ownership… (own)
10. There is very little profit in selling home-made goods at present, business is…non-profit… (profit)
11. (consume)…Consumer…..credit enables a personal customer to buy on hire purchase.
12. In factoring (deal)…dealing … the suppliers have to decide whether to give credit and if so how much and for how long .
13. If the supplier’s invoices are not (pay) …paid…the customers have the benefit of the goods without having to fund them.
14. Supplying on credit is like (provide)…providing….a loan.
15. Trade credit arises in situations of free (compete)…competition…where businesses compete with each other to supply the same goods at similar prices.
16. Those companies are not profitable under such an (effect) …ineffective…. policy.
17. The staff in this bank work very hard , however their efforts seem to be (produce) …unproductive… .
18. The economy was (balance) …unbalanced…by over production.
19. Many of these economic terms are (comprehend) (= bảo trợ, bảo hộ) incomprehensible to ordinary people.
20. In trade late payments are (desire) (=mong muốn, ao ước) …undesirable….but sometimes are (avoid) …unavoidable.. .
II. Rewrite the following sentences:
1. I’m sorry now that I didn’t apply for a business expansion loan.
- I’m sorry not to have applied for a business expansion loan……………………..
2. We may not be able to increase your agreed limit.
- Your application for an increase in your credit limit may have to be turned down (đáp án khác: not be accepted)
3. It’s quite pointless to complain.
- There’s no point in complaining……
4. The workers only called off the strike after a pay offer.
- Only after of pay after did the workers call off the strike………………………..
5. The bank let me use my credit card for the first time last year.
- I was allowed to use credit card for the first time last year……………………..
6. Our personal loan hasn’t been confirmed yet.
- We haven’t received the confirmation of our personal loan……………………..
7. The clerk told me that my travellers’ checks would be ready next Monday.
- According to the clerk, my traveller’s checks would be ready next Monday
8. It’s not certain that John will get the overdraft permission.
- It’s open to question whether I will get the overdraft permission…………….
9. Alan spent too much on this new house, and this led to his overdraft.
- Alan’s overdraft was led by spending too much on this new house.…………..
10. A banker’s draft will charge you at least $20.
- You won’t be able send the money by banker’s draft for less than $ 20…..
11. The central bank controlled inflation by imposing a credit squeeze on banking system.
- Inflation was controlled (by the central bank) by imposing.…………………….
12. If you make any kind of investment you should learn as much as possible about how the money will be used.
- Before making any kind of interest, you should learn as much as possible about how the money will be used………………………………………………………………………………………………
13. They shared the profits equally.
- They divided the profits in equal shares…………………………………………………..
14. There are a lot of people trying to get this job.
- There is a strong competition for this job………………………………………………….
15. Although we disagreed on details, we were in substantial agreement over the plan.
- In spite of our disagreement on details, we were in substantial agreement over the plan
16. People who don’t have insurance have to pay for their own repairs.
- People without having insurance have to pay for their own repairs…………
17. If you lose your card, the maxi-mum liability you have to pay is 25 USD.
- In case you lose your card, the maxi-mum liability you have to pay is 25 USD
18.” How long have they banked with you “. The bank clerk asked me.
- The bank clerk asked how long they had banked with me………………………….
19.” Why don’t you invest in this project?”.
- He advised me to invest in that project……………………………………………………..
20. Two people have been fired for sleeping on the job so far.
- The management has fired two people because of sleeping on the job so far
21. He has just taken out a long-term loan from his bank.
-A long-term loan has just been taken out from his bank…………………………..
22. They did not go to the bank as usual because they were ill.
-Because of being ill they did not go to the bank as usual………………………….
23. The loan is too big for him to pay back immediately.
- The loan is so big that he can not pay back immediately……………………….
24. Fill in the form and give it to the cashier.
-The bank clerk asked me to fill in the form and give it to the cashier.……..
25. The director is the oldest in my bank……………………………………………………….
- No one in my bank is older than my director.…
26. I have had a close relation with this bank for 5 years.
- I started to have a close relation with this bank for 5 years…………………….
27. I’m fond of the staff in this branch although they sometimes behave terribly.
- In spite of theirs terribly behaviors sometime I’m fond of the staff in this bank..
28. My electricity bill is very big and I can not pay it off.
- My electricity is too big for me to pay it off……………………………………………..
29. Her mother has never withdrawn money from ATMs before
- This is the first time her mother has withdrawn money from ATMs………
30. “Please cross the mistakes out when you write a cheque” the bank clerk said.
- The bank clerk asked me to cross the mistakes out when i wrote a cheque…………
III. Sentence building:
1. Buying/ invoices/ way/ debts.
Buying unpaid invoices is a way of raising money from debts
2. With/ open account/ price/ agree/ goods/ ship.
With the open account method, the price is agreed before the goods are shipped
3. L/ C/ represent/ safest/ fastest/ way/ securing settlement/ export/ as/ exporter/ retain/ control/ document of title/ goods.
L/C represents a safest and fastest way of securing settlement for export as the exporter retains to control the document of title of the goods
4. Documentary collections/ mean/ there/ documents/ include/ collection order/ which/ send/ exporter’s bank/ collection/ importer.
Documentary collections means that there are documents including collection order which is sent to the exporter’s bank to collection from the importer.
5. With L/ C/ there/ risk/ issuing bank/ because/ credit/banks/ deal in/ documents/ not/ goods.
With L/C, there is a risk to the issuing bank because the credit only deals in the documents not in goods
6. Bill of exchange/ credit instrument/ which/ issuing bank/ pay/ sum of money/ certain time/ after sight.
Bill of exchange is a credit instrument which orders the issuing bank have to pay a sum of money at a certain time after sight.
7. Banks/ need/ take assets/ know as/ collateral security/ when/ grant loans.
Banks need to take assets know as collateral security when granting loans
8. To attract/ customers/ provide/ various needs/ banks/ develop/ methods of payment.
To attract more customers and to provide for their various needs, the banks have to develop different methods of payment.
9. Free market/ businesses/ competition/ more sales.
In the free market, many businesses have to fight in tough competition to get more sales
10. Banks/ provide/ short-term/ finance/ mean/ overdrafts/ loans/ exporters.
Banks are providing short-term finance by means of overdrafts or loans to the exporters.
IV. Choose the correct answer:
1. Market economy is a system of producing wealth based on the free operation of business and trade… ..........government controls.
A. within B. without C. of D. under
2. Closed economy is the economy of a country that does not participate in international trade and … no exports, imports, or economic transactions with any other country.
A. are of B. have C. has D. doesn’t have
3. Barter economy has no medium of exchange and goods are… directly or swapped for other goods.
A. traded B. bought C. sold D. paid
4. Asset is the … of a person, company, etc, that has value and that may be sold to pay a debt.
A. property B. poverty C. prosperity D. prospect
5. Liability is the amount of debt that … paid.
A. must be B. cannot be C. has to D. had to
6. Economy of scale is a reduction in costs because of an increase in the scale of …
A. product B. production C. produce D. producing
7. Many companies are now expanding to … from economies of scale.
A. prosper B . transfer C. benefit D. profit
8. To default is to fail to fulfill a contract, agreement or duty or to fail to… a debt.
A. pay B. pay for C. pay out D. pay on
9. Takings is the amount of money that a shop, theatre, etc, gets… selling goods, tickets, etc.
A. to B. for C. from D. on
10.What is the name of the document that an exporter receives from the shipping company when goods have been placed on board the ship?
A. invoice C. certificate of origin
B. bill of lading D. bill of exchange
11. A documentary letter of credit is opened at the request of one of your customers. Is the customer:
A. the exporter C. the importer
B. the beneficiary D. the drawer
12. Under a documentary letter of credit which is:
(i). the bank in the buyer’s country,
(ii). the bank in the seller’s country?
A. advising bank; issuing bank
B. issuing bank; remitting bank
C. issuing bank; advising bank
D. advising bank; presenting bank
13. Your customer asks your bank to handle a collection outwards on her behalf. Are you:
A. the presenting bank C. the issuing bank
B. the remitting bank D. the advising bank
14. A company that has the use of a vehicle upon payment of a sum of money on a regular basis over a long period of time is using the finance service of:
A. factoring C. hire purchase
B. leasing D. installment credit
15. A company customer of the bank obtains finance against its debtors, protection against bad debts and has a sales ledger accounting service. It is using:
A. invoice discounting C. factoring
B. leasing D. A discount house
V. Gap-filling
1. Banking is similar to industry (1) …in ….that it makes a profit by selling; The difference is that a bank sells services, or “products” rather (2) …than …. actual physical goods. A bank conducts its business (3) …by ….offering a comprehensive range of financial products to the public in order to(4) …attract ….deposits. As we have seen earlier, the larger a bank’s deposit base, (5) …the …..more money it is able to lend, and through this (6) …lending …. a bank earns its profit. It is evident therefore, that the range of products that a bank offers their (7) …customers …..will have a vital impact (8) …on ….the size of a bank’s deposit base, and therefore on its lending. Of equal importance is the manner in (9) … which ….these products and the bank itself are presented (10) …to ….the public and this in turn is represented by the quality of bank services.
2. An overdraft facility is an agreement by (1) …which….a customer is allowed to withdraw money in excess (2) …of ….the available credit balance, up to an agreed (3) …limit ….. This facility is available only (4) …on …. a current account. An overdraft facility (5) …allows ….traders and people in business the flexibility of paying for goods or services immediately (6) …before ….receiving payment from their own buyers. Overdraft facilities are reviewed at regular intervals, for example, (7) …say …. six months. The bank only extends such a facility subject to the condition that repayment of the debt will be made by the customer(8) …on …demand.
3. Leasing is a contractual arrangement (1) …whereby… one party, in return (2) …for …. an agreed rent, uses a capital asset owned (3) …by ….another party Such leased assets (4) …are ….usually plant and equipment but may include other assets such as aircraft, ships, containers and oil rigs.
Occasions arise where a company (5) …needs ….to buy capital plant and equipment but is (6) …unable ….to do so even on installments basis. This may be because the company is short (7) …of ….cash, and the position would get worse with the additional purchase of fixed assets; or perhaps the plant carries a high obsolescence risk.
Such a company might consider (8) …leasing ….the plant or machinery it requires. To do this the company approaches a leasing company which will (9) …buy ….the goods from the manufacturer. The manufacturer gets paid (10) …in …. full by the leasing company, usually after installation at the hirer’s premises.
Only for reference
(Cont'.......)
