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EXERCISES. Answer the following questions:





Answer the following questions:

1. What is the role of financial institutions?

2. What kinds of financial institutions do you know?

3. What types of assets and liabilities are acquired by:

 

• commercial banks?

• savings associations?

• mutual savings banks?

• credit unions?

• insurance companies?

• pension and retirement funds?

• money market mutual funds?


II. What's What in Finance? Match each word on the left with the correct definition on the right (a-o)

 

1. pension a) Something that the government collects and no one likes to pay
2. bank b) Where you go to borrow money or get cash
3. tax c) How you are charged for borrowing money
4. dividends d) How you can pay to buy a house, unless you can pay for it in a single payment
5. shares e) A type of investment made by a company when buying equipment
6. inflation f) What, in financial terms, a business hopes to make
7. bankruptcy g) What a company has to prepare every year for presentation to its owners and to the relevant authorities
8. capital spending h) A situation where a company does not have enough money or property to pay its debts, and so the company closes
9. profit i) The total amount of sales in a year
10. interest j) Rising prices, rising costs and rising wages in an economy
11. assets k) What you buy if you invest money in a company
12. turnover 1) Individuals who invest their money in a company hope to receive these regularly
13. liabilities m) When you are old, you hope to have one of these
14. accounts n) The name for all the property, equipment, investments and money owned by a company (or individual)
15. mortgage o) The name for everything that a company owes

III. Finance I. Choose the best alternative from the box below to complete the sentences.

 

1. a) Workers b) Directors c) Control d) Complaint
2. a) individual b) usury c) cooperative d) venture
3. a)return b) market c) loss d) rate
4. a) gain b) taxation c) investment d) risk


PART II. FINANCE


;. a) fixed b) contribution c) communication d) variable
-. a) fixed b) contribution c) communication d) variable
  a) market managers b) cash flow c) production lines d) competitors
\ a) profit and loss b) volume c) savings d) shareholders
9. a) goods b) accounts c) shares d) securities
10. a) tariff companies b) claim forms c) insurance adjusters d) brokers
11. a) statements and invoices b) bonds and bills c) stocks and shares d) bulls and bears
  a) management buyout b) merger c) takeover bid d) dawn raid

1. The Board of___ is responsible for deciding on and controlling the strategy of a

corporation or company.

2. Small businesses depend on investors providing capital.

3. Investors are influenced by the projected on their capital.

 

4. The capital needed to run a business is provided by______.

5. Rent and rates, which do not change is turnover volume changes, make up the_______

costs of a company.

6. Materials and direct labour costs, which change as turnover volume changes, make up the costs of a company.

7. Every company must watch its____ carefully if it is to avoid bankruptcy.

8. The___ account shows whether the company is profitable or not.

9. Banks require____ to guarantee a loan.

10. Insurance companies may also use____ to negotiate the amount of insurance to be

paid.

11._ The Stock Exchange deals with the purchase and sale of.

12. An individual or a company buying a block of shares in another company to give
itself a majority shareholding is making a_____.

IV Finance II. Choose from the words in the box to complete the definitions.

 

bookkeeping interest creditor company
profit current capital net
shares debtor dividend statement

1. Recording financial transactions is_____.

2. A legal organization, formally registered in one of three ways, and having a life independent of its members, is a___________________.

3. A person or organization that owes money is a______.

4. A person or organization to whom money is owed is a______.

5. The assets, including cash, debtors and stocks used in a company's trading, available at the present moment, are its_______________________ assets.

6. The equal parts into which the ownership of a company is divided are its______.

7 The money paid to shareholders out of a company's profits is the_______.

8. A company's turnover, less its cost of sales, is its gross______.

9. A company's turnover after the cost of sales, tax, rent and other liabilities are deducted is its profit.

10. The sum of money paid by a borrower to a lender for the use of the lender's money is the on the loan.

11. The document sent to the debtor by the creditor, showing how much is owed and for what, is the of account.

12. The shareholders' investment in a company is the share______.

UNIT 2. FINANCIAL INSTITUTIONS 93


V Finance III. Match the number of each speech (1-Ю) with the correct description (a-j).

 

1. "We haven't put enough profit back into the company." a) The company requested a subsidy.
2. "We don't have enough money coming into the company for us to pay our own bills." b)The forecastsare good.
3. "We made more money this year than last year." c) Profitsare up.
4. "Last year, we spent more money than we earned." d)The invoicingprocedure has been changed.
5. "We have to spend less on things like electricity, rent and postage." e) Spending is over budget.
6. 'At the moment we are spending more than we said we would at the beginning of the year." f) Cashflowis poor.
7. "We have decided to bill customers before delivery of the goods." g) There was a loss.
8. "We think the figures for next year are going to be very good." h) Investmentis too low.
9. "We don't make enough money on the sale of each unit." i) Overheadsare too high.
10. "We can't do it on our own so we should ask the government for financial help." j) Marginsare too low.

VI. Costs. Match the terms and definitions.

 

1. direct costs a) all expenses incurred by the manufacturer in the production of goods and services
2. fixed costs b) expenses incurred in the day-by-day running of a company
3. indirect costs c) costs that include both fixed and variable costs in the reckoning
4. labour costs d) costs of materials, items or activities that are directly involved in the production of goods, and without which these goods could not be produced in the short run
5. manufacturing or production costs e) costs already ascribed to a project, that will not be clawed back if the company decides to abort a project
6. operating or running costs f) expenses incurred in production, that vary depending on output
7. semi-variable or stepped costs g) expenses incurred in providing labour in the production process, can include not only wages and salaries, but also National Insurance contributions and contributions to pension schemes
8. skunk costs (US) h) costs of items or activities, such as maintenance of buildings and machinery, which are not used in the production of goods, not immediately necessary for their production
9. supplementary costs or overheads i) costs that do not vary with short-term changes in the level of output (such as heating costs or rates)
10. variable costs j) the indirect costs of a business, which will include labour and material costs

VII. Takeovers and Merges. Match the terms and definitions.

 

1. When one company joins another to form a larger single company, the new company is the result of a_______ a) bottom line
2. When one company buys a majority of the shares of another, and so gains control, it has carried out a________ b) re-deployment
3. When the shares of this second company are bought quietly, without publicity, and usually in the shortest possible time, the first company has carried out a c) management buyout
4. The____ will try to negotiate good conditions for their members in the new company. d) redundancies


PART II. FINANCE


When a company is deciding whether to take over or to merge with another it will examine the accounts very carefully, paying particular attention to the ___, which shows whether or not the company is profitable, and by how much. e) early retirement
Knowledge that a takeover is likely usually sends______ up. f) trade union
Sometimes, in an attempt to avoid takeover, senior staff will attempt a______. g) dawn raid
There are usually a number of_____ after a merger or takeover. h) share price
As many staff as possible will undergo______ and be kept on in the new company. i) merger
Members of staff who do not wish to remain and work in the new company may take the option of_____, perhaps with a reduced pension. j) takeover

VIII. Writing Practice. Write a short summary of the text "Financial Institutions'!

 

 


 


UNIT 2. FINANCIAL INSTITUTIONS



UNIT 3.




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