[外语类试卷]BEC商务英语(高级)阅读模拟试卷117及答案与解析.doc
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1、BEC商务英语(高级)阅读模拟试卷 117及答案与解析 一、 PART ONE 0 Look at the statements below and at the five extracts about different mergers from newspaper articles on the opposite page.Which extract(A, B, C, D or E)does each statement(1-8)refer to?For each statement(1-8), mark one letter(A, B, C, D or E)on your Answer
2、Sheet.You will need to use some qf these letters more than once.There is an example at the beginning(0).Example:0 A small store horizontally merges with another one, the effect on the market may be little. AYou probably need to reduce the number of people. Cost savings through combining redundant ta
3、sks is a common goal for mergers. The trick is to release the individuals least well equipped to contribute in the new organisation and to hold on to the best people. Make sure the evaluation of “best“ looks at both companies people equally. After all, you dont want to lose a great person from Compa
4、ny B so you can keep a mediocre person from Company A.BBut signing a deal to join forces is only the beginning. The crucial next step requires knowing how to merge fast and well. In the Internet economy, that means more than changing a logo or reconciling two chief executives egos to the fact that t
5、hey cant both be boss. A successful merger requires an unflinching commitment to what the new strategy will be, along with a focus on making sure that vital but fragile assets-customer lists, engineering-talent pools, and so on dont get trampled by the deal.CA horizontal merger is when two companies
6、 competing in the same market merge or join together. This type of merger can either have a very large effect or little to no effect on the market. When two extremely small companies combine, or horizontally merge, the results of the merger are less noticeable. These smaller horizontal mergers are v
7、ery common. If a small local drug store were to horizontally merge with another local drugstore, the effect of this merger on the drugstore market would be minimal. In a large horizontal merger, however, the resulting ripple effects can be felt throughout the market sector and sometimes throughout t
8、he whole economy.DImpact of mergers and acquisitions on top level management may actually involve a “clash of the egos“. There might be variations in the cultures of the two organisations. Under the new set-up the manager may be asked to implement such policies or strategies, which may not be quite
9、approved by him. When such a situation arises, the main focus of the organisation gets diverted and executives become busy either settling matters among themselves or moving on. If however, the manager is well equipped with a degree or has sufficient qualification, the migration to another company m
10、ay not be troublesome at all.EHow your company deals with merger issues such as communication, employee retention and/ or layoffs, customer notification and reassurance, consolidation of staff and integration of systems will play a huge role in determining the overall success or failure of the merge
11、r or acquisition. Dont wait until the deal is finalized to think about these issues. Assemble a team of stakeholders and experts to analyse the challenges and risks of integrating the two companies and have an action plan in place long before the official merger date. 1 It elaborates on what horizon
12、tal integration is and its effect on the market. 2 It stresses staff of both companies should the considered fairly in business mergers. 3 It talks about the factors that ensure business mergers are fruitful. 4 It implies large-scale mergers may have a chain reaction on the whole market. 5 It consid
13、ers that top level managers should adapt to the new company as soon as possible. 6 It suggests that enough preparations should be made before the merger. 7 It considers a well-qualified manager should react actively to the mergers to ensure smooth transfer. 8 It stresses on keeping the outstanding e
14、mployees and eliminating average ones in mergers. 二、 PART TWO 8 Read this text about effective banking supervision. Choose the best sentence from the opposite page to fill each of the gaps. For each gap(9-14), mark one letter(A-H)on your Answer Sheet. Do not use any letter more than once. There is a
15、n example at the beginning(0). Effective Banking Supervision Effective supervision of banking organisations is an essential component of a strong economic environment in that the banking system plays a central role in making payments and mobilising and distributing savings. The task of supervision i
16、s to ensure that banks operate in a safe and sound manner and that they hold capital and reserves sufficient to support the risks that arise in their business. Strong and effective banking supervision provides a public good that may not be fully provided in the marketplace and, along with effective
17、macro-economic policy, is critical to financial stability in any country.(0).G Banking supervision should foster an efficient and competitive banking system that is responsive to the publics need for good-quality financial services at a reasonable cost. Generally, it should be recognised that there
18、is a trade-off between the level of protection that supervision provides and the cost of financial intermediation.【 P1】 _ Supervision cannot, and should not, provide an assurance that banks will not fail. In a market economy, failures are a part of risk-taking. 【 P2】 _Such matters cannot therefore a
19、lways be entirely the responsibility of banking supervisors; however, supervisors should have in place adequate arrangements for resolving problem bank situations. 1. Providing sound and sustainable macro-economic policies are not within the competence of banking supervisors. Supervisors, however, w
20、ill need to react if they perceive that existing policies are undermining the safety and soundness of the banking system.【 P3】 _ Therefore, sound macro-economic policies must be the foundation of a stable financial system. 2. A well-developed public infrastructure needs to cover the following facili
21、ties, which, if not adequately provided, can significantly contribute to the destabilization of financial systems: A system of business laws including corporate, bankruptcy, contract, consumer protection and private property laws; Comprehensive and well-defined accounting principles and rules that c
22、ommand wide international acceptance; A system of independent audits for companies of significant size. 3. Effective market discipline depends on an adequate flow of information to market participants, appropriate financial incentives to reward well-managed institutions and arrangements that ensure
23、that investors are not insulated from the consequences of their decisions.【 P4】 _ 4. Sufficiently flexible powers are necessary in order to effect an efficient resolution of problems in banks.【 P5】 _Where they are not, the prompt and orderly exit of institutions that are no longer able to meet super
24、visory requirements is a necessary part of an efficient financial system. Forbearance, whether or not the result of political pressure, normally leads to worsening problems and higher resolution costs. 5. Deciding on the appropriate level of systemic protection is by and large a policy question to b
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