Choose the best title.

#a

Functions of banks

#a

Bank services

#a*

Bank organization

#q

What is the first paragraph of the text about?

#a*

bank objectives

#a

types of banks

#a

bank organization

#q

Choose the best answer to complete the following sentence: Development banks exist ...

#a

to provide services to the public

#a

to hold the government's accounts

#a*

to increase the economic growth of a country

#q

Choose the best answer to complete the following sentence: The aim of commercial banks is ...

#a*

to earn profits

#a

to arrange short-term borrowing of money for government

#a

to advise other banks

#q

Choose the best answer to complete the following sentence: Wholesale banking provides large-scale services to ...

#a

the public

#a

small businesses

#a*

companies, government agencies and other banks

#q

Choose the best answer to complete the following sentence: Several factors make banking an international business. These include:

#a

the economic growth of countries

#a*

the growth of international capital markets

#a

the high living standard of population in many countries

#q

Choose the best answer to complete the following sentence: The way in which a bank is organized and operated is determined by ...

#a

the government of the country

#a

its customers

#a*

its objectives

#q

Choose the best answer to complete the following sentence: The full-service philosophy of many banks means that they are akin to ...

#a

financial intermediaries

#a

financial houses

#a*

financial supermarkets

#q

Choose the best answer to complete the following sentence: Retail banking provides smaller-scale services to ...

#a

companies

#a

other banks

#a*

the general public

#q

Choose the best answer to complete the following sentence: The major banks of the world have established extensive international operations by...

#a

developing new bank services

#a*

acquiring banks in other countries

#a

changing its structure

Match the phrases.

#q

Match the phrase. A bank may not necessarily be in business to make …

#a

… deposits, payments, credits

#a

… of a global nature

#a

… their operating aims

#a*

… a profit

#a

… retail banking

#q

Match the phrase. Many banks offer a combination of wholesale and …

#a

… deposits, payments, credits

#a

… of a global nature

#a

… their operating aims

#a

… a profit

#a*

… retail banking

#q

Match the phrase. Both types of banking have three essential functions: …

#a*

… deposits, payments, credits

#a

… of a global nature

#a

… their operating aims

#a

… a profit

#a

… retail banking

#q

Match the phrase. These functions make it possible for banks to achieve …

#a

… deposits, payments, credits

#a

… of a global nature

#a*

… their operating aims

#a

… a profit

#a

… retail banking

#q

Match the phrase. The operations of major commercial banks are rapidly changing, and their organization is …

#a

deposits, payments, credits

#a*

… of a global nature

#a

… their operating aims

#a

… a profit

#a

… retail banking

#q

Read the text again and say if this statement is true or false.Development banks exist to increase the economic growth of a country and raise the living standard of its population.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false.Commercial banks develop services that can be sold but they won't yield a profit.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false.New services are rarely introduced and developed by commercial banks.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false.The growth of multinational companies and of international capital markets contributes to making banking an international business.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false.The major banks of the world don't acquire banks in other countries.

#a

true

#a*

false

Text 2

The Bank of England does business with many international institutions and central banks of many countries keep their accounts there. It advises banks, companies and governments. This Bank has three main functions in England.

It holds the central accounts of the Government - the accounts of HM chequer and of the National Loans Fund. Any money received or paid out by the government goes through these accounts. It arranges short-term borrowing of money for the government. It manages the government's stocks. There are nearly 200 types of stock with a nominal value of 20.000.000.000. The Bank issues the stocks, keeps a list of the three million stockholders and pays out the dividends. It manages the Exchange Equalization Account. This means making sure the exchange value of sterling does not change too much. It controls the country’s reserves of gold and foreign currencies and administers the Exchange Control Regulations.

It acts as the principal bank for all the other banks, e.g. Lloyds, Barclays, Midland. They all keep a large amount of their cash in tine Bank of England. It has close relations with the Committee of London Clearing Banks and the British Banker's Association, the Stock Exchange and the insurance industry.

Only the Bank of England can issue notes. Until 1931 it was possible to take a bank-note to the Bank of England and exchange it for the same amount of gold. Nowadays the value of a bank-note does not depend on gold, but on a complicated system of government securities.

Test

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.an account

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a*

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.currency

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a*

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.value

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a*

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.to pay out dividends

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a*

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.to issue

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a*

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.insurance

#a

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#*

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.stocks

#a

British currency

#a*

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the definition corresponding to the meaning of words and word-combinations used in the text.sterling

#a*

British currency

#a

money borrowed by a government at a fixed rate of interest

#a

the monetary worth of something

#a

to give money for the part of the profit

#a

record of money received and paid out by a bank

#a

contract by which a company agrees to pay money to a person who suffers a loss in return for receiving a small sum of money

#a

country’s unit of money

#a

to give out for use, to put into circulation

#q

Choose the best answer to complete the following sentence:The Bank of England is ...

#a

one of the development banks of the UK

#a*

he central bank of the UK

#a

one of the state banks of England

#q

Choose the best answer to complete the following sentence:The Bank of England advises ...

#a

individuals

#a

small businesses

#a*

banks, companies and governments

#q

Choose the best answer to complete the following sentence:It controls the country's ...

#a

markets

#a

companies

#a*

reserves of gold

#q

Choose the best answer to complete the following sentence:Nowadays the value of a bank-note does not depend on gold but on

#a

the economic situation in the country

#a

the amount of capital reserves

#a*

the complicated system of government securities

#q

Choose the best answer to complete the following sentence:Central banks of many counties keep their accounts in ...

#a

Trustee Savings Banks

#a

National Giro and Financial Houses

#a*

the Bank of England

#q

Choose the best answer to complete the following sentence:The Bank of England arranges short-term borrowing of money for...

#a

the Queen

#a*

the Government

#a

large companies

#q

Choose the best answer to complete the following sentence:Only the Bank of England can issue ...

#a

securities

#a

shares

#a*

notes

#q

Match the phrase.The Bank of England does business with …

#a

… gold and foreign currencies

#a

… does not change too much

#a*

… many international institutions

#a

… the Bank of England

#a

… the Government – the accounts of HM chequer and of the National Loans Fund

#q

Match the phrase.It holds the central accounts of

#a

… gold and foreign currencies

#a

… does not change too much

#a

… many international institutions

#a

… the Bank of England

#a*

… the Government – the accounts of HM chequer and of the National Loans Fund

#q

Match the phrase.The Bank of England manages the Exchange Equalization Account. This means making sure the exchange value of sterling …

#a

… gold and foreign currencies

#a*

… does not change too much

#a

… many international institutions

#a

… the Bank of England

#a

… the Government – the accounts of HM chequer and of the National Loans Fund

#q

Match the phrase.The other banks of England keep a large amount of their cash in …

#a

… gold and foreign currencies

#a

… does not change too much

#a

… many international institutions

#a*

… the Bank of England

#a

… the Government – the accounts of HM chequer and of the National Loans Fund

#q

Match the phrases.The Bank of England controls the country’s reserves of …

#a*

… gold and foreign currencies

#a

… does not change too much

#a

… many international institutions

#a

… the Bank of England

#a

… the Government – the accounts of HM chequer and of the National Loans Fund

#q

Read the text again and say if this statement is true or false.The Bank of England has three main functions in England.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false.It is possible to take a banknote to the Bank of England and exchange it for the same amount of gold.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false.The Bank of England doesn't pay out the dividends to its stockholdres.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false.British banks never keep their cash in the Bank of England.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false.The Government has the accounts in the Bank of England.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false.Nowadays the value of a banknote depends on a complicated system of government securities.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false.What is the last paragraph of the text about?

#a

The Bank of England issues stocks.

#a

Many Banks of England keep a large amount of their cash in the Bank of England.

#a*

Only the Bank of England can issue notes.

Text 3

Investment

If you do not spend all your income-your monthly salary or weekly wages with any other earning such as fees, interest or dividends - you will have some money left over to save. What can you do with this money? You can simply put it in a box under the bed of course but it is more sensible to make your money earn more money for you. To do this, you can put it into a deposit account at the Post Office. In this way it will earn interest for you. Rates of interest fluctuate but your money is secure - except of course against inflation, which reduces the value and purchasing power of money in the economy as a whole.

Another thing you can do is to invest in a building society where the interest rate may be a little better than in a bank. A building society is a firm which lends money to people who want to buy property. If you want to buy your own house, for instance, you take out a mortgage with the society and repay the loan at, say, 10 % per annum over 30 years.

In addition you can invest directly in a commercial company by buying shares in it. Once or twice a year you will receive a statement from the company and if the company has done well, a cheque. This money is your dividend and it increases if the company's profits rise and decreases if they fall. The center of stockbroking (buying and selling stocks shares) is the Stock Exchange in the City of London.

Test 3

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.invest

#a

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a

price paid for the use of money

#a*

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.interest

#a

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a*

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.inflation

#a

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a*

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.loan

#a*

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.share

#a

money given for a limited period of time and which will be repaid

#a*

one part of the capital of a company

#a

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the definitions corresponding to the meaning of words and word-combinations used in the text.Stock Exchange

#a

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a

financial institution which pays interest to small depositors and lends money for housebuying

#a*

organized market where stocks and shares are bought and sold

#q

a building society

#a

money given for a limited period of time and which will be repaid

#a

one part of the capital of a company

#a

price paid for the use of money

#a

to use money in order to earn interest or make a profit

#a

rise in the general level of prices attributed to increases in production costs or an increase in the money supply

#a*

financial institution which pays interest to small depositors and lends money for housebuying

#a

organized market where stocks and shares are bought and sold

#q

Choose the best answer to complete the following sentence:A building society is a firm which ...

#a

builds houses

#a*

lends money to people

#a

pays out dividends

#q

Choose the best answer to complete the following sentence:You can invest directly in a commercial company by ...

#a*

buying shares in it

#a

putting some money in it

#a

making a personal loan

#q

Choose the best answer to complete the following sentence:Once or twice a year you will receive a statement from the company and if the company has done well, …

#a

a bill

#a*

a cheque

#a

a premium share

#q

Choose the best answer to complete the following sentence:The center of stockbroking is the Stock Exchange in the city of ...

#a

New-York

#a

Brussels

#a*

London

#q

Choose the best answer to complete the following sentence:You can put your money into a deposit account at the Post Office. In this way it will ...

#a

be safe

#a*

earn interest

#a

be exchanged for cheques

#q

#q

Read the text again and say if this statement is true or false. Justify your answers.It is more sensible to put your money in a box under the bed than to put it into a deposit account at the bank.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false. Justify your answers.Rates of interest are always stable.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false. Justify your answers.Once or twice a year you will receive a statement from the company and a cheque.

#a*

true

#a

false

#q

Read the text again and say if this statement is true or false. Justify your answers.If you want to buy a house, you take out a mortgage with the society and repay the loan at 30 % per annum over 5 years.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false. Justify your answers.The center of stockbroking is the Bank of England.

#a

true

#a*

false

#q

Read the text again and say if this statement is true or false. Justify your answers.What is the last paragraph of the text about?

#a

One can put his money into a deposit account at the Post Office.

#a*

One can invest in a commercial company.

#a

One can put his money in a box under the bed.

Text 4

Date: 2015-12-11; view: 957