Đề thi và Đáp Án tiếng anh chuyên ngành 1 english for finance test

Fiscal policy government/ policy/ related/ taxation/ public spending.. Medium/ exchange/ anything/ widely/ accepted/ payment/ goods/ services/ settlement/ debts.. · A medium of exchange

ENGLISH FOR FINANCE TEST

I Choose the best answer.

1 Revenue is calculated by the price at which goods or services are sold by the number of units or amount sold

A multiple

B multiplying

C summing

D accounting

2 The supply of a good is related to the price of inputs used to make the good

A nagatively

B positively

C significantly

D substantially

3 Interest rate swaps often a fixed payment for a floating payment that is linked to an interest rate

A pay

B swap

C exchange

D change

4 Individuals and corporate entities can find it attractive to establish subsidiaries or move themselves to to reduce taxation levels

A tax havens

B tax avoidance

C other countries

D tax shelters

5 The standard for international trade and investment is the US dollar

A currency

B benchmark

C rate

D unit

6 Macroeconomic stability means , low inflation, high economic growth and so on

A low employment

B low competition

C high production

D A & B

7 GNP is a of a country's economic performance, or what its citizens produced and whether they produced these items within its borders

A ability

B measure

C measurement

D indicator

8 Banks often cooperate with in efforts to stabilize the economy and prevent inflation

A foreign banks

B financial institutions

C government

D commercial banks

9 Spending on (e.g improvements to our motorway network) helps provide the capacity needed for other businesses

to flourish

A transport system

B infrastructure

C accommodation

D industry

10 Any transaction or violations of the policy must be reported to your immediate supervisor:

A improper (circled)

B reserved

C extinct

D Anxious

II, Reading

During the 1960’s and 1970’s, the primary economic development strategy of local governments in the United States was to attract manufacturing industries Unfortunately, this strategy was usually implemented at another community’s expense: many manufacturing facilities were lured away from their moorings elsewhere through tax incentives and slick promotional efforts Through the transfer of jobs and related revenues that resulted from this practice, one town’s triumph could become another town’s tragedy

In the 1980’s the strategy shifted from this zero-sum game to one called “high-technology development,” in which local governments competed to attract newly formed high-technology manufacturing firms Although this approach was preferable to victimizing other geographical areas by taking their jobs, it also had its shortcomings: high-tech manufacturing firms employ only a specially trained fraction of the manufacturing workforce,

and there simply are not enough high-tech firms to satisfy all geographic areas

Recently, local governments have increasingly come to recognize the advantages of yet a third strategy: the promotion

of homegrown small businesses Small indigenous businesses are created by a nearly ubiquitous resource, local entrepreneurs With roots in their communities, these individuals are less likely

to be enticed away by incentives offered by another community Indigenous industry and talent are kept at home, creating an environment that both provides jobs and fosters further entrepreneurship

1 The primary purpose of the passage is to

A advocate more effective strategies for encouraging the development of high-technology enterprises in the United States

B acknowledge and counter adverse criticism of programs being used to stimulate local economic development

C define and explore promotional efforts used by local governments to attract new industry.

2 Which of the following can be inferred about minority communities on the basis of the passage?

A They provide a significant portion of the funds that become available for investment in the financial market

B They are penalized by the tax system, which increases the inequality of the distribution of income between investors and wage earners

C They do not receive the share of the amount of funds available for investment that would be expected according to traditional financial-market analysis.

D They are not granted governmental subsidies to assist in underwriting the cost of economic development

3 The author's main point is argued by

A giving examples that support a conventional generalization

B showing that omissions in a theoretical description make it inapplicable in certain cases

C showing that the view opposite to the author's is self-contradictory

D criticizing the presuppositions of a proposed plan

4 According to the passage, a questionable assumption of the conventional theory about the operation of financial markets is that

A those who engage in financial-market transactions are perfectly well informed about the market.

B creditworthiness as determined by lenders is a factor determining market access

C market structure and market dynamics depend on income distribution

D inequalities in income distribution are increased by the functioning of the financial market

5 According to the passage, analysts have conventionally tended to view those who participate in financial markets as

A judging investment preferences in terms of the good of society as a whole

B influencing the allocation of funds through prior ownership

of certain kinds of assets

C varying in market power with respect to one another

D having equal opportunities to engage in transactions III Make complete sentences

1 Fiscal policy government/ policy/ related/ taxation/ public spending

2 Medium/ exchange/ anything/ widely/ accepted/ payment/ goods/ services/ settlement/ debts

3 London’s/ trading/ position/ arises/ partly/ large volume/ international/ financial/ business/ generated/ there

4 Customers/ the/ market/ because/ they/ require/ foreign/ currency/ the/ course/ their/ cross-border/ trade/ investment business

5 The discount rate/ the rate/ interest/ the Fed/ charges/ those/ loans

ĐÁP ÁN

· Fiscal policy is a government policy related to taxation and public spending

· A medium of exchange is anything that is widely accepted in payment for goods and services or in the settlement of debts

· London’s trading position arises partly from the large volume

of international financial business generated there

· Customers enter the market because they require foreign currency in the course of their cross-border trade and investment business

· The discount rate is the rate of interest that the Fed charges on those loans

IV Match the words or phrases in the box with their definitions below.

a Economic output

b Money accounting

c National Debt

d Regressive

e Treasury Bills

f Depreciation accounting

g Government budget deficit

h Gross Domestic Product

k Deductive

1 The total amount of money borrowed by the central government of a country on which it has to pay interest

2 The value of all goods and services produced in a particular country

3 Reducing the value of a fixed asset, by charging it against profit

4 Short-term government securities, sold at a discount, bearing

no interest rate

5 The excess of government expenditures (on goods, services and transfer payments)

ĐÁP ÁN

· The total amount of money borrowed by the central government of a country on which it has to pay interest

c National Debt

· The value of all goods and services produced in a particular country

h Gross Domestic Product

· Reducing the value of a fixed asset, by charging it against profit

f Depreciation accounting

· Short-term government securities, sold at a discount, bearing

no interest rate

e Treasury Bills

· The excess of government expenditures (on goods, services and transfer payments)

g Government budget defici

V Answer these questions.

1 What does theory of the firm indicate? Theory of consumer indicate?

· Theory of the Firm: This economic theory explains how

firms make decisions regarding production, pricing, and other

operational aspects to maximize their profits It looks at how firms choose their outputs and inputs, how they respond to changes in market conditions, and how they compete with other firms Key concepts include cost structures, profit maximization, and market competition

· Theory of Consumer: This theory focuses on how

consumers make choices based on their preferences and budget constraints to maximize their utility (satisfaction or happiness)

It examines consumer behavior, the demand for goods and services, and how changes in prices and income affect consumer choices Key concepts include utility, budget constraints, and consumer equilibrium

2 What are 4 functions of money?

· Medium of Exchange: Money is widely accepted as a

method of payment for goods and services, facilitating transactions in the economy

· Unit of Account: Money provides a standard measure of

value, making it easier to compare the worth of different goods and services

· Store of Value: Money can be saved and retrieved in the

future, retaining its value over time This allows individuals to preserve wealth and make future purchases

· Standard of Deferred Payment: Money is used to settle debts

and obligations that are to be paid in the future, providing a standard method for future payments

VI Translate into English:

1 Thuế giá trị gia tăng áp dụng đối với hàng hóa, dịch vụ trong nước hoặc nhập khẩu được mua vào và bán ra để sản xuất, kinh doanh và tiêu thụ

2 Nếu không sử dụng tiền, nền kinh tế hiện đại sẽ không vận hành trơn tru và sản xuất sẽ bị tụt lùi một cách nghiêm trọng

3 Ngân hàng Nhà Nước thực hiện nghiệp vụ thị trường mở thông qua việc mua, bán giấy tờ có giá với các tổ chức tín dụng

và quy định các loại giấy tờ có giá được giao dịch thông qua nghiệp vụ thị trường mở

ĐÁP ÁN

· Value-added tax (VAT) is applicable to domestic or imported goods and services that are purchased and sold for production, business, and consumption purposes

· · Without the use of money, the modern economy would not operate smoothly and production would suffer a significant decline

· · The State Bank conducts open market operations through the purchase and sale of valuable papers with credit institutions and regulates the types of valuable papers traded through open market operations

VII Translate into Vietnamese:

1 Reconciling financing needs with macroeconomic stability will require a more comprehensive policy framework across all the major policy instruments: exchange rate policy, monetary policy, and fiscal policy

2 Direct taxes are primarily taxes on natural persons and they are typically based on the taxpayer's ability to pay as measured

by income, consumption, or net wealth

3 Macroeconomists try to understand the factors that either promote or retard economic growth in order to support economic policies that will support development, progress, and rising living standards

ĐÁP ÁN

· Việc điều hòa nhu cầu tài chính với sự ổn định kinh tế vĩ mô

sẽ đòi hỏi một khung chính sách toàn diện hơn trên tất cả các

công cụ chính sách quan trọng: chính sách tỷ giá, chính sách tiền tệ và chính sách tài khóa

· Thuế trực tiếp chủ yếu là thuế đánh vào các cá nhân tự nhiên

và thường được dựa trên khả năng chi trả của người nộp thuế được đo lường bằng thu nhập, tiêu dùng hoặc tài sản ròng

· Các nhà kinh tế vĩ mô cố gắng hiểu các yếu tố thúc đẩy hoặc kìm hãm tăng trưởng kinh tế để hỗ trợ các chính sách kinh tế sẽ thúc đẩy sự phát triển, tiến bộ và nâng cao mức sống