Chapter 10
The Alchemists of Finance
Exercises
1. Questions on the text
1)Wha t’s the main difference between commercial banks and investment
banks?
In today's business environment, the main business of commercial banks is to collect deposits and make loans, while that of investment banks is to underwrite stocks and bonds and advise companies on mergers and acquisitions.
2)Why do investment banks try to keep quiet about their big profits?
Investment banks try to keep quiet about their big profits for two major reasons: first, they are under more scrutiny by regulators and investors; second, private equity and hedge funds have overtaken them in raising money and making excessive bets.
3)What changes have taken place in the financial markets since the 1980s?
The main changes since 1980s have been the rapid growth of financial instruments with unprecedented breadth, depth and richness, brought out by technology and innovation. Examples of those financial instruments are public and private debt securities and derivatives.
4)Why do bankers and regulators worry about a possible collapse of an
investment bank?
They worry about a possible collapse of an investment bank because such an event will have serious implications for the whole financial system, and it is vital to know how such institutions evolve, how they handle risks and how well those risks are spread around the financial system.
5)Which three factors can explain the huge profit for investment banks?
Those factors are: first, the alchemist's trick of turning debt (mostly leaden) into derivatives (mostly liquid); second, the emergence of a new class of leveraged client (hedge funds and private equity); third, seeking out new capital markets and clients around the world. Meanwhile, in all these pursuits the banks are now using their own money, to differing degrees.
6)What does the expression “the wild east” refer to?
That expression refers to the new markets emerging in Europe and Asia. The introduction of the euro in 1999 and the rapid growth of economies in those regions have attracted investment banks.
7)What makes London an impressive rival to New York as a global financial
center?
London has become an impressive rival to New York as a global financial center because: first, London trades a wide range of assets and is regulated on the spot;
second, London is a hub for Europe and continent European countries can raise capital there; third, London is also regarded as a springboard for emerging
markets such as China and Russia.
8)How do investment banks manage the risks?
Investment banks try to find the most talented people to handle the intricate assets;
they measure the correlations between different financial instruments in an attempt to spread risk; they invest hundreds of millions of dollars a year in technologies to measure and stress-test risks; they also try to boost their risk-weighted capital.
9)According to the text, what’s the relationship between revenue and risk in
finance?
The relationship between revenue and risk is fundamental in finance. Risk-taking is awarded by possible high revenue. Low risk often means less revenue.
However, in order to gain more revenue, you need to take more risks. You should carefully calculate the risk and balance it against revenue beforehand, or you will pay a high price for foolish investment bet.
10)Which one is more important to the growth of the finance industry,
innovation or regulation?
Based on the text, both innovation and regulation are vital to the healthy growth of the finance industry. Without innovation, investors have fewer places to gain returns on their money and those seeking money would have much more difficulties in obtaining it. Thus innovation boosts the rapid growth of finance industry and brings benefits to more people both in developed countries and developing countries. However, innovation without proper regulation, such as the securities that no one knows how to exactly measure their risk, could lead the growth of the finance industry to a disastrous end.
2. Fill in each blank of the following sentences with one of the phrases in the list given below:
1)The government has taken many measures to bring down the prices of oil.
2)Employees are asked to keep quiet about their year-end bonus.
3)Regulators demand the monopoly company to split into smaller entities.
4)It’s reported that China Telecom plans to spin off its network services unit in HK.
5)The traffic had seized up for miles because of the accident.
6)According to those representatives, new forces are at work in the refining
industry.
7)We shall never know how she managed to acquire her promotion; there is no way
to account for it.
8) A nationwide law aimed at stamping out passive smoking in public spaces in
Switzerland came into force on Saturday.
9)Innovations will bring about dramatic changes in this industrial sector.
10)I would say that, on balance, it hasn't been a bad year.
3. Match the terms in column A with the explanations in column B:
A B
1) liquidity crisis a) a bank that provides checking accounts,
savings accounts, and money market accounts
and that accepts time deposits. 6
2) leveraged buy-out b) a company issues common stock or shares to
the public for the first time. 5
3) credit crunch c) the situation in which a business experiences a
lack of cash required to grow the business, pay
for day-to-day operations, or meet its debt
obligations when they are due, causing it to
default. 1
4) over-the-counter securities d) the acquisition of another company using
a significant amount of borrowed money
(bonds or loans) to meet the cost of acquisition.
2
5) initial public offering e) a financial institution that assists individuals,
corporations and governments in raising
capital by underwriting and/or acting as the
client's agent in the issuance of securities. 8 6) commercial bank f) an aggressively managed portfolio of
investments that uses advanced investment
strategies such as leveraged, long, short and
derivative positions in both domestic and
international markets with the goal of
generating high returns. 9
7) stress test g) a sharp increase in the interest rates and a
strong decrease in allocated credits. 3
8) investment bank h) a process that measures whether one
institution has adequate capital and/or assets
to respond effectively to various, adverse
scenarios usually presented by a computer
program. 7
9) hedge fund i) securities traded in some context other than on
a formal exchange such as the NYSE, etc. 4
10) risk management j) the identification, assessment, and
prioritization of risks followed by coordinated
and economical application of resources to
minimize, monitor, and control the probability
and/or impact of unfortunate events or to
maximize the realization of opportunities. 10
4.Translate the following into Chinese：
在去年信贷危机爆发的时候，联邦的监管者们向国内的各主要金融机构注入了数以百亿计美元，而他们这么做的原因在于这些银行是如此之大以至于官员们担心它们的破产将会拖垮整个金融体系。
如今，这些银行中最大的几家甚至变得更大了。这场危机对控制着美国金融的不少巨头们而言很可能是件好事。由联邦政府安排的一系列兼并行动将陷入困境的银行平安地并入了更为安全稳定的企业中。这场危机还让幸存者们得以乱中重生，市场地位得到巩固，对消费者信贷拥有更大的控制权，并获得更多的盈利空间。
如今，这个国家每十美元的储蓄中就有超过一美元是由摩根大通银行（J.P. Morgan Chase）掌控的，该银行则由华尔街的一些老字号机构组成。美国银行（Bank of America）和西海岸最大的银行------富国银行（Wells Fargo）的情况也是如此，而前者在收购美林证券（Merrill Lynch）时遭受重大损失，又因金融危机被政府部分收购。联邦政府数据显示，现在每两笔抵押贷款中就有一笔和每三张信用卡中就有两张是由以下银行发放的：上述三家银行，再加上由政府救助并拥有的花旗银行（Citigroup）。
在去年九月金融体系几乎完全崩溃一年后，联邦政府的应对措施重新界定了美国人获得抵押贷款、学生贷款和其他信贷的方式，并高调主导了一场关于高管薪酬的全国性讨论。不过，在这场危机带来的所有后果中最让高层监管者们不安的是那些超大型银行却变得更大，而且它们之间的联系更为紧密。
监管者们有两方面的担忧：一是消费者对服务的选择余地最终会越来越小，二是银行会认为如果事情弄砸了它们总会得到政府的支持。这一假设的保证意味着如果大公司认为联邦官员总会替它们收拾烂摊子的话，它们就会重操旧业，再次从事那些曾引起此次危机的高风险行为。
这个名为“道德风险”的问题可以在一定程度上说明政府官员为何要严密监控那些获得了救助的银行------监督其高管的薪酬并审查其重要部门或分支机构的出售。除此外，此问题还促使奥巴马政府采取措施建立新的监管体系以防新危机的再现。此项计划还对大型金融机构设置了更高的资本标准，并授权政府可以接管各类陷入困境的金融机构以便逐步而有序地停止其业务。
5.Fill in each of the following gaps with one of the sentences given below:
1)Yet investment banks have recently changed out of all recognition.
2)If they decided the property was a bargain.
3)In short, investment banking has migrated from an agency model towards a
principal one.
4)It is making bigger bets with its own capital, too.
5)The main engine of transformation has been competition.
6)Others have gone for niche markets.
Supplementary Reading
The Secret's Out: Can Swiss Banking Adapt to Scrutiny?
1.According to the article, what’s the key to the success of Swiss banks？
A.Long history.
B.Good locations.
C.Reputation for discretion.∨
D.Service to reduce tax.
2.Which one of the following statements about Bradley Birkenfeld is NOT true?
A.He has worked in Geneva.
B.He is jailed for his wrongdoing.
C.He was forced to give some confidential documents to U.S. officials. ∨
D.He was a former banker of UBS.
3.According to the article, it is mainly __________ that built Switzerland’s wealth.
A.special local food
B.well-developed tourism industries
C.strict government administration and management
D.the banking industry ∨
4.All of the following statements are features of Swiss banks except _________.
A.Most of them are private banks.
B.They try to gain as many regular clients as possible. ∨
C.They prefer wealthy people.
D.They usually have many foreign clients.
5.After a change in Swiss law permitted UBS to give U.S. officials details of 4,450
American-held accounts, _________.
A.U.S. officials stopped their investigation.
B.no actions have been taken against UBS.
C.many Swiss felt that they were offended. ∨
D.UBS closed its U.S. unit.
6.According to the article, all of the following countries have initiated tax
investigations based on information from Swiss banks or banks located in Switzerland except __________.
A.Russia ∨
B.France
C.Italy
D.Germany
7.Why did Birkenfeld went to places like Centre Court at Wimbledon and the film
festivals at Cannes and Bangkok?
A.He like sports games.
B.He like good food and traveling.
C.He is a fan of film stars.
D.He went there to look for wealthy people. ∨
8.After the tax scandal, UBS has taken the following actions except __________.
A.closing one of its unit
B.expanding in new markets
C.denying any wrongdoing ∨
D.developing partnership with Formula One
9.The attitude of Switzerland toward actions taken by other countries with regard to
its banks can be described as __________.
A.indifferent
B.cooperative ∨
C.evasive
D.negative
10.From the article, it can be inferred that Swiss banks are likely to __________.
A.adapt themselves to more public scrutiny ∨
B.keep their tradition of secrecy unchanged
C.pull out of the U.S. market
https://www.doczj.com/doc/6513659098.html,pletely lose their competition advantage over other European banks
Reference Keys Unit 2 Establishing Business Relations 学学练练 I. 1. d 2. c 3. a 4. b 5. h 6. f 7. e 8. g II. 1.供你方参考 2. 期望，盼望 3. 供应中 4. in the hope of/that 5. establish business relations 6. fall within the scope of III. 1. desirous to 2. in the line of 3.give you a general idea 4. covering 5. in the market 6.refer to 7.be informed IV. 1. appreciate 2. in, for 3.upon 4. to 5. informed 6. with 7.enclosed 8. in 9. desire 10. for 实操练习 I. 1.Through the courtesy of ABC company, we have your name and address. 2. We would like to inform you that we could supply various types of men’s leather shoes. 3. We have established business relations with more than 50 countries in the world, on the basis of equality, mutual benefit and exchange of needed goods。 4. Specializing in the export of Chinese bicycles, we express our desire to trade with you in this line. 5. In order to promote business between us, we shall airmail you some samples for your reference. 6. We enclose a copy of catalog and a sampl e and are sure that you will be satisfied
★绝密·考试前严禁任何人翻阅 全国外经贸从业人员考试 国际商务英语等级考试（初级） 试题册 考试时间：2014年5月31日 09:30-11:30 ※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※※ 考生姓名： 准考证号： 考点（考区）： 注意事项 一、考生将姓名、身份证号、考试项目、考点（考区）、准考证号填涂在试题册及答题卡（答 题纸）相应位置。 二、考生在规定考试时间内做完试题册上的试题，并将答案填涂在答题卡（答题纸）相应位 置，写在试题册上的答案一律无效。全部答题时间为120分钟。 三、考生在答题卡上作答时，切忌超出答题区域。如因超出区域作答导致答题卡失效，由考 生个人负责。客观题按题号顺序进行填涂，主观题在每题左上角写清题号按顺序作答。 凡因题号不清导致考试成绩有误，由考生个人负责。 四、考生不得将试题册、答题卡（答题纸）带出考场。考试结束，监考员收卷后考生方可离 开考场。 五、考生注意对自己的答案保密。若被抄袭，一经发现，后果自负。
★请将答案写在答题卡上，答案写在试卷上无效。 一、客观题（本大题有60小题，每小题1分，共60分） [1-20] Listening: 20%（听力，20分） Section A Directions: Listen to the following dialogue and choose the correct word or words to fill each gap from A,B,C or D. This section accounts for 5 points. Each question will be read twice. Mike: It would be nice to see you again, Mary. Are you free on Sunday evening? Mary: I’ m sorry, I’m not. I’ve got to visit my aunt 1 . Mike: Oh, that’s a pity. Monday’s difficult for me. What about Tuesday evening? Mart: Tuesday’s bad for me as well. I’ve got to go to a meeting. Mike: Wednesday then? Mary: No, Wednesday’s out for me, I’m afraid. I’ve got to 2 and do some work. I really must. Mike: Oh, that’s a shame. Well, I can’t 3 Thursday. What about Friday? Mary: I’m 4 sorry. I’ve got to go out for dinner on Friday. Mike: Have you got to? Can’t you get out of it? Mary: I’m afraid not. I’ve simply got to go. Mike: Well, it looks as if we’ll have to wait till next week then. Mary: Yes, I’m sorry, Mike. Look, I must go now. I have to meet Lisa in ten minutes. Ring me next week 5 . Mike: Fine. Try and keep an evening free for me. 1．A. in the hospital B. in hospital C. in hotel D. in hostel 2．A. stay in B. staying C. stay D. sleep 3．A. make that B. make this C. make D. make it 4．A. outright B. awfully C. really D. totally 5．A. some time B. sometimes C. sometime D. some times Section B Directions: Listen to the following passage and choose the correct word or words to fill each gap from A,B,C or D. This section accounts for 5 points. Each question will be read twice. For international investors, the decision to invest in a foreign country, whether to establish or 6 a plant or a sales network, or to purchase stocks or bonds, is a difficult one. Before they make the decision to invest abroad, international investors will have to make sure that the
II) Match each one on the left with its correct meaning on the right 1. motivation 2. pursue 3. mark up 4. procurement 5. intangible 6. cargoroyalty 商务英语阅读习题（一） I) Comprehension 1. What is international trade? 2. What are the major motivations for private firm to operate international business? 3. What measures do most companies usually adopt to avoid wild swings in the sales and profits? 4. Pleas give the four major modes chosen by most companies when entering into international trade. 5. Could you find any difference between Direct Investment and Portfolio Investment? If you can, please tell the main reasons. 6. What is MNE? What are its synonyms? 7. What limits a firm's sales? A. to make continual efforts to gain sth. B. the action of obtaining, esp. by efforts of careful attention. C. which by is its nature can not be known by senses, not clear and certain, not real. D. the goods (freight) carried by a ship, plane or vehicle. E. the amount by which a price is raised. F. profit, interest- G. the net value of assets or interest, invest. 8. equity 股本，资产净值 H. not needing other things or people, taking decisions alone. 9. yield I. a share of the profits. 10. independent J. need or purpose. 2. A 3.E 4.B 5. C 6.D 7.1 8.G 9.F 10.H HI) Fill in the blanks with the words or expressions given below and if necessary, put the word in the right form. A. orientation B. diversify C. seek out D. differentiate...from E. take advantage of F. undergo G. bring about H. correspond L abandon J. amount to K. Come after L. approach 1. That factory is trying to B its products to sell in different markets. 2. A successful businessman is always skilled in E every possible opportunity. 3. Reforming and opening to the world has G great changes in our lives. 4. Can you D this kind of operating the others? 5. Private firm going in for international business have a profit A 6. He I his company and family and went away with all the money. 7. The L of winter brings cold weather. 8. The manager's words J a refusal to the proposal.
商务英语翻译试题(二)试卷及答案-2
商务英语翻译试题（二） Ⅰ词汇测试题：（2题，每题10分，共20分） 1．该组有10个商务英语英文词或词组，下面均有英文词或词组来进行解释。请将正确的选项标出，要求英英转换意义准确，符合商务英语规范。（10分） (1) promote A. to encourage the popularity, sale or development B. to change or vary C. to act as judge in an argument D. to speak or write to someone (2) to address A. to speak or write to someone, or to direct information at someone. B. to offer, supply C. to stipulate D. to come up with ideas (3) to indemnify A. to pay for the damage B. to state something officially C. to suggest an idea D. to use something instead of another (4) to cancel an order A. to confirm an order B. to deliver a letter C. to recommend a candidate D. to make void or of no effect (5) ceiling A. upper limit B. cancellation C. bottom D. the lowest point (6) tide over A. to help sb. during a period of difficulty B. to spend a lot of time doing C. to tie to sth. D. to try one’s best (7) carry out A. to take away B. to perform or complete C. to give or offer something D. to suggest an idea (8) to complicate A. to finish something B. to be dissatisfied with something C. to make something more difficult to deal with D. to compare with something (9) to put on an event A. to come up with ideas B. to come on for sth. 2
Dear Sirs, We obtain your name and address from the internet, and we are writing you in the hope of establishing direct business relations with you. We’re one of the importers of Beddings with years’of experience in this line. At present, we’ll be pleased to get the samples for your bed-sheets. Thank you for your cooperation. Yours sincerely, \\ 2 Dear Sirs, Your company has been introduced to us by FMC Company, Sydney, Australia, who has informend us that you are interested in electric goods . As we have been in this line for years, we are writing you in the hope of establishing business relations with you. In order to give you a rough idea of our products available for export at present, we are sending you under separate cover the latest catalogues. Looking forward to your early reply. Yours faithfully Dear Sirs, We learn from the internet that you are in urgent need of a large quantity of Children’s Sport Shoes. We’re writing you in the hope of entering into long-term business relations with you. We have been handling the export of various kinds of textiles and shoes for many years, and our products are very popular in the American and European markets for their good quality and reasonable prices. We also have kept close connections with the local shoe manufacturers, and can ensure the steady source and quality. In order to give you a rough idea of our products, we are sending you our latest catalogues and price lists for Children’s Sport Shoes for your reference. If you are interested in any of the items, please let us know. We await your early reply. Yours faithfully,
广东外语外贸大学公开学院辅导资料 国际商务英语试卷（一） 课程代码：05844 I. Translate the following words and expressions from English into Chinese （10%） 1.International business 2.GDP 3.Free trade area 4.Multinational corporation 5.Specialization 6.specific duty 7.roll on roll off 8.EDI 9.article number 10.auction Ⅱ. Translate the following words and expressions from Chinese into English （10%） 11.返倾销 12.最惠国条款 13.贴现 14.充分就业 15.保兑信用证 16.零库存 17.代位，取代 18.保护主义 19.免除条款（豁免条款） 20.证券交易所 Ⅲ.Match the words and expressions on the left with the explanations on the right （10%） 21.contracting party a. amount above what is estimated as necessary 22.gilts b. a business concern owned or controlled in whole or in part by another concern 23.cyclical c. recurring in cycles 24.affiliate d. stocks issued by government 25.legal action e. an action taken against some one in accordance with the law. 26.margin f. a country or firm that signs a legal agreement 27.pooling g. a trace of land including its buildings 28.verified data h. a set of international rules for the interpretation of
商务英语翻译测试题及 答案 集团档案编码：[YTTR-YTPT28-YTNTL98-UYTYNN08]
I. Translate the following sentences paying attention to the meanings of words italicized.(15%) 1. The above quoted are the articles in great demand, which have won a high reputation in various markets. 2. The articles in this agreement must not be modified and ended
without the agreement by the both parties. 3. However, the tariff should not be greater in amount than the margin of price caused by dumping. 4. As usual, the lion’s share of the budget is for defense. 5. He once again imparted to us his great knowledge, experience and wisdom.
II. Translate the following sentences with extension.(15%) 1. There is a mixture of the tiger and ape in the character of Hitler. 2.China, which posted its highest growth rate in a decade, is Asia’s new star performer. 3. John took to his studies eagerly, and proved an adept pupil.
Chapter 8 Learning Aims 学完本章，学生应能： 1．识别装船指示和装船通知； 2．熟悉一些模具产品名称； 3．掌握装运方面信件的结构以及相关术语和表达方式； 4．学会案例分析，并撰写与装运相关的信函。 Background Information 在国际贸易中，在装运前，买方通常把他们的装运需求发送给卖方，告知他们包装和标志，运输方式等，此为装运指示。 卖方在装运货物后应立即向买方发送装船通知，告知他们装运情况。装船通知通常包含以下内容： （1）预计出发时间；预计到达时间 （2）装船货物 （3）船名 （4）集装箱号 （5）铅封号 （6）所附单证 装运当事人有三方，即货主，承运人和收货人。 提单可被看作为货物收据、运输合同证明和物权凭证。 Letter 1
李友
Letter 2 Letter 3 Letter 4
Letter 5 Letter 6
Exercises I．Fill in the following blanks. 1. importance; urgent; advance; co-operation 2. circumstances; compelled; an alternative/alternatives; 3. extended; expired 4. pleasure; informing 5. in duplicate II．Translate the following sentences into Chinese. 1．我们很高兴在此通知，贵方所订的车灯模具已由“魅力”号货轮发出，将于5月15号抵达宁波。 2．我们很奇怪至今尚未收到于8月1号所订的螺钉，我方客户要求予以解释，因为他们急需此批货物。 3．由于交货长期延误，给我们带来不便。我们要求立即发货，否则，我们将不得不按合同规定取消订单。 4．请尽快安排装运我方所订的货物。 5．这艘货船将于7月20号左右驶往上海。 III．Translate the following sentences into English. 1. Upon receipt of the L/C, please effect shipment of the goods booked by us as soon as possible. 2. We are informed by ABC shipping company that S.S. “Beauty” is due to sail from your city to our port on or about 6th this month. 3. We are very much obliged for your kind cooperation. 4. We hope that these goods will reach you in time and turn out to your entire satisfaction. 5. We are in urgent need of the goods and have to request you to ship them without any further delay.
国际商务英语函电答案【篇一：世纪商务英语外贸函电(第二版)课后习题答案】 letter 1.at, of, with, in, for letter 2.from, into, with, of, to p40 https://www.doczj.com/doc/6513659098.html,rming, interesting, dealing, sample, details, quality, prices, applied, items, inquiry unit 3 p55 letter 1.from, for, by, with, on letter 2.with, in, of, in, from p56 2.referring, established, cost, quality, opinion, responsibility, part, satisfied, information, decision unit 4 p71 letter 1. to, of, at, in, by letter 2.with, in, with, for, with p73 2.advertisement, leading, interested, details, dealers, line, market, replying, over, item unit 5 p88 letter 1.for, with, at, by, to letter 2.for, for, by, at, by/under p89 2.inquiring, quotation, receipt, subject, confirmation, discount, catalogue, brochure, separate, appreciate unit 6 p105 letter 1.of, on, in, with, to letter 2.of, in, by, for, at p106 2.offer, regret, price, sold, level, difference, transaction, counter-offer, samples, acceptance unit 7 p122 letter 1.to, of, of, in, for,
Unit 13 The Business of Making Money Exercises 1. Questions on the text: 1)What are the latest developments in private equity in recent years Compared to the 1980s, the targets of today’s private equity groups are much bigger in size. In recent years, the private equity industry has raised record money and its share of mergers and acquisitions has grown massively. The industry has also become a byword for money-making skills but its wealth has also brought many enemies. 2)According to the article, what are the main inconveniences for a company to be a publicly quoted company The main inconveniences for a publicly quoted company include: its executives have to face intrusive media coverage; it has to obey strict and long corporate-governance codes; it also has to face the threats of activist investors and short sellers and the scrutiny by some politicians. 3)What are the main reasons for a company to get listed on a stockmarket Traditionally there are three main reasons to get a company’s share listed on a stockmarket. The first is to raise capital, either to expand the business or to allow the founders to realise their wealth. The second is to help retain staff, who can be offered share options as an incentive to stay and work hard. The third involves prestige; customers, suppliers and potential employees may be reassured (and attracted) by the apparent seal of approval given by a public listing. Meanwhile, being publicly listed gives a company better access to fund investors and retail investors. 4)Why are companies in the Anglo-Saxon economies reluctant to borrow from banks Companies in the Anglo-Saxon economies were reluctant to borrow from banks because their often felt nervous about the possibility of the sudden withdrawal of credit from the banks, due to a change in lending policy, new management or an economic downturn. 5)According to the article, what are the main sources for today’s companies to raise money (including equity capital and debt) Nowadays the main sources for companies to raise money are: first, equity market; second, banks, though much less important than they used to be; third, bond market; fourth, private equity. 6)How do private-equity firms respond to the problems identified by Professor Jensen with regard to public companies Professor Jensen argued that the structure of a public company creates an inherent conflict between investors and the managers they hire to run the business, particularly with regard to the use of free cash flow. He also argued
商务英语翻译试题（一（1-5）BBCCB （6-10）ABAAB 2.（1-5）CBCBD （6-10）BCABA ） Ⅰ词汇测试题：（2题，每题10分，共20分） 1．该组有10个商务英语英文词或词组，下面均有英文词或词组来进行解释。请将正确的选项标出，要求英英转换意义准确，符合商务英语规范。（10分） (1) to conclude A. to give one’s place to each B. to end or judge after some consideration C. to explain D. to contain (2) to enforce A. to break or act against a law B. to cause a law or rule to be obeyed C. to prevent movement from happening D. to direct something into a particular place (3) to appoint A. to take back property B. to meet someone’s needs C. to choose someone officially for a job D. to claim for something (4) to approve A. to abide by B. to comply with C. to have a positive opinion D. to come up with (5) obviate A. to violate B. to remove a difficulty, to avoid C. to allow sb to do D. to be apparent (6) to violate A. to break or act against a law, principle B. to beat or threaten someone C. to obey a law D. to cause a rule to be obeyed. (7) with respect to A. comply with B. in relation to C. conform to D. coincide with (8) to entertain a client A. to cater for B. to treat sb. at the table C. to launch a product D. to shorten a vacation
Unit 3 Inquiries and Replies Sentences Commonly Used in Inquiries and Replies (P49-50) 1.感谢贵方7月5日询盘。 2.兹复你方3月28日函，我们附上最新的带有插图的目录册，供你方参考。 3.本地对高质量的电动自行车有稳定的需求。 4.如果你方价格有竞争力，我们愿首次订购1000打。 5.请报最好的CIF上海价格，注明最早装运期。 6.由于我们打算购买……，如报最优价将不胜感激。 7.感谢贵方10月1日对我方飞利浦牌吸尘器的询盘，先附寄一套插图目录册。 8.如果能报优质绿茶CIF到墨尔本最低价，我们将不胜感激。 9.贵方若能迅速仔细地处理我方对棉布的询盘，我们将不胜感激。 10.请寄送样品并报……的最低价。 11.请就上述货物向我方报CIF西雅图最优惠价，含佣金5%。 12.一收到贵方询盘，我们即寄上样品并报最优惠的价格。 13.如告知有关价格、质量、可供数量以及其他相关资料的具体情况，将不胜感激。 14.如果你方按所需的型号和质量供货，我方可以大量订购。 15.因为我们所报价格十分合理，我们相信贵方能接受。 Exercises (P50-54) 1. Translate the following phrases (1) 对……进行询盘 (2) 无存货 (3) 具体询盘 (4) 插图目录册 (5) 与……进行贸易 (6) price list (7) irrevocable L / C (8) terms of payment (9) both excellent in quality and reasonable in price (10) CIF Hongkong 2. Choose the best answer (1) C (2) A (3) A (4) C (5) C (6) B (7) D (8) B (9) B (10) D
Chapter 1 1.这一监控体系最终将取代美国政府对古巴雪茄进口的上限。The monitoring system will finally substitute the U.S. government 's cap on cigar imports from Cuba. 2.墨西哥和美国之间的争执不会有任何作用，并可能导致北美自由贸易协定中关税解除的中 断。The quarrel between Mexico and the U.S. will be of no avail and it may disrupt the lifting of the agricultural tariffs under the North American Free Trade Agreement. 3.在召开部长级会议之前，将举行一次经济合作商业论坛，重点探讨如何减小全球经济 失衡的纠正对中国的冲击。An economic cooperation business forum, which will discuss how to minimize the negative impact of global economic imbalance adjustment on China, will take place shortly before the ministerial conference. 4.只有少数美国人将此问题归咎于这些明 显的因素，即美元贬值或经济周期。Few Americans attribute this to such obvious causes as a devalued dollar or the business cycle. 5.最新的科学研究揭示了这样的事实，即为减少温室气体排放所采取的必要措施会带来沉重的经济和政治成本。Recent research has shed light on the fact that there are heavy financial and political costs associated with the measures necessary to reduce the emission of greenhouse gases. 6.有传言称上个月政府和这家公司的总裁秘密达成一笔交易。There are rumors that the government struck a private deal with the corporation's chairman last month. 7.反对派对美国政府施加压力，让他们改变对纺织品进口的政策。The opposition is exerting pressure on the U.S. government to change the policy towards textile imports. 8.自从签署双边自由贸易协定以来，这个新兴经济体一直处于科技的前沿。Since the establishment of the bilateral free-trade agreement, this emerging economy has always been at the forefront of science and technology. 9.一般 来说，浮动汇率应该使国家免受与贸易伙伴在通货膨胀上的持续差异的影响。In general, floating exchange rates are supposed to insulate countries from persistent differences in inflation with their trading partners. 10.据保守预测，到2010 年中国与北美和欧盟的进出口贸易堂将分別超过4000 亿美元，与10 个东盟国家的进出口贸易堂将超过2000 亿美元。According to conservative estimates, by 2010, China's import and export volume with North America and the EU would surpass $400 billion respectively, with ten ASEAN countries exceeding $200 billion. Chapter 2 1)政府出资 1 亿美元用于农村地区再生能源的开发和利用。The government has allocated $ 0.1 billion to the development and utilization of renewable energy in rural areas. 。 2)开发西部不能以破坏环境为代价，因此政府一直走经济开发建设和生态环境保护并进