Career paths banking TB kho tài liệu học tiếng anh

Unit4 1 Suggested Answers 1 To open a bank account in my country you need a Social Security Number SSN, an acceptable form of identification with your picture on it such as a passport

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Virginia Evans

Ken Gilmore, MBA

~

Express Publishing

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Publi hed by Express Publishing

Liberty House, Greenham Business Park, Newbury,

This book is not meant to be changed in any way

ISBN 978-1-78098-356-1

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Table of Contents

Answer Key 4

Audioscripts 12

~ 2 Answer Key 14

Audioscripts 23

Answer Key 27

Audioscripts 37

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Book 1 Answer Key

Unit 1

1 Suggested Answers

2

3

1 In my country most people use credit and debit

cards to make purchases However, most people

also carry cash and loose change in order to buy

smaller items Checks are sometimes used to pay

bills

2 Bills are more common in my country than coins

I prefer them because they are not heavy and

they can be used to pay for almost anything

Coins can only be used to purchase small items

because it is difficult to carry large amounts of

them around, and most shops will not allow you

to buy expensive items with them

B: Hello, sir Welcome to First Regional Bank How

can I help you?

A: Hi I need to exchange these British pounds for

American dollars

B: All right Let's see how much you have there

A: Here you go

B: Twenty, forty, sixty The total comes to one

hundred and seventy pounds

A: How much is that in dollars?

B: I'll calculate that now lt comes to two hundred

and seventy-five dollars and seventy seven cents

A: Great Can I make the exchange?

B: Of course But there is a one percent service fee

9 Suggested Answer

Currency presented: British pounds

Currency requested: American ollars

Amount presented: 170 pounds

Exchange rate: 1.62219

Amount returned: two hundred and seventy-five

dollars and seventy seven cents

2 When my bank runs low on supplies it orders new ones from our supplier

4 Things to Mark Paper: ink, stamp, pen

Containers for Money: cash drawer, coin wrapper, deposit bag

A: I picked up one of each at the store Here you go B: Oh, good Thanks

9 Suggested Answer Quantity Supplies needed

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2 If I were a bank manager I would furnish my bank

with modern furniture as well as more classic

items like a mahogany or oak desk

3 1 A teller pedestal B armchair

2 A mat B filing cabinet

4 1 couch 3 desk chair

A: We need to reorganize the lobby

B: I know what you mean Customers don't know

where the line starts

A: Let's see We could move these desks and chairs

away from the door

B: Yeah Then people could walk straight to the tellers

A: Right And what if we shift the post and rope

setup back a bit?

B: Then there won't be any confusion about the line

A: Exactly We could even get some floor mats

B: Good idea Red ones to match the chairs

Move the desks and chairs away from the door

Shift the post and rope setup back a bit

Place the new mats near the door

Unit4

1 Suggested Answers

1 To open a bank account in my country you need

a Social Security Number (SSN), an acceptable

form of identification with your picture on it (such

as a passport or driving license), and some proof

of where you live such as a utility bill (e.g water

or electricity)

2 Tellers use a variety of documents in transactions

Withdrawal forms are used when customers

withdraw money, account application forms are

used when someone wishes to open a new account, change of address forms are used when

a customer wishes to notify a bank that they are moving house and so on

4 1 account statement 4 balance sheet

2 withdrawal form 5 change of address

A: Hello, sir How can I help you today?

B: Hi I'd like to open a savings account

A: OK Here's an account application and a pen

B: Okay Thanks

A: While you are filling that out, can I see some identification?

B: Sure Here you go

A: Thank you You'll also have to fill out this deposit slip

B: Oh Thanks Is there a minimum starting balance? A: Yes, it's just fifty dollars

9 Suggested Answer Type of Account:

Unit 5

1 Banks use a variety of machines to make them more efficient and secure Currency counters are used when customers make withdrawals or deposits

Answer Key 5

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2

3

and counterfeit detectors are used to check that

bills presented are genuine Various other standard

pieces of office equipment are also used, for

example computers and printers

2 Banks employ a large number of security measures

in my country Security guards and cameras are

always present and tellers are protected by

bullet-proof screens Paper shredders are also used to

protect sensitive customer and bank information

Banks might wish to dispose of paperwork such as

former customers' bank account and personal details

as well as details of old transactions that they no

longer need to keep for their records

A: Hi, this is Alice Mindy with B & S Bank

B: Hello, Ms Mindy What can I do for you today?

A: I want to buy a calculator

B: All right Do you want an adding machine that has

a print out function?

A: Yes

B: Okay lt will be more expensive than a normal one

Is that all right?

A: That's fine I'm sure it will be better for our

customers

Name of caller: Alice Mindy

Bank where he/she works: B & S Bank

Product of interest: adding machine

Desired product functions: Calculation with

2 Some structures that increase security in a bank are safe deposit boxes and vaults, both of which are used to store money and important documents safely

2 1 computers

2 deposit

3 Turn on main lights I sweep

4 Customer Service Desk I Lobby

A: How did opening go this morning, Mr Garland?

B: Everything went pretty well A couple of lights in the foyer are out

A: 'vVhere?

B: Right next to the door

A: I see We'll have to call maintenance B: Do you want me to call now?

A: No, don't worry about it There's enough light coming in the doors for now

9 Suggested Answer Foyer: Sweep, turn on lights Teller stations: Turn on computers Breakroom: Start coffee and restock plates, cups

and napkins

Manager's offices: Turn on lights

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Unit 7

2

1 For the symbol = we says equals and for the

symbol ;- we say divided by

2 Large numbers can be expressed in hundreds or

thousands For instance, the number 2700 could

be said as two thousand seven hundred or twenty

If something is said to come to something else, this

means that two numbers are equal

A: Martin, can you help me for a second?

B: Sure, Anna What's up?

A: There's something wrong with this deposit slip I

added it all twice, but the total is still wrong

B: Let me see There are four checks Three checks

for two hundred dollars And one for one thousand,

five hundred

A: Yeah I multiplied the two hundred dollar checks by

four and added fifteen hundred

B: There's your problem

A: What do you mean?

B: You multiplied by the wrong number

A: Oh, what a simple mistake! Thanks

Account holder: Hannah Coulton

Account number: 2352346289

Original Deposit Amount: $2300

New Deposit Account: $2100

Explanation of change: Teller error

B: That's right Why, is there is a problem?

A: A small one Your account is limited to one withdrawal a month

B: Oh, and I pulled money out last week to pay a bill Well, I really need the money

A: Are you sure? There will be a fee

B: How much is it?

A: it's fifteen dollars

B: I don't have a choice I'll just pay the fee

9 Suggested Answer Customer Name: Ms Simpson

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Unit9

2

1 The advantages of storing money in a bank are that

it is kept safe and you can earn interest on it In

addition, having a bank account gives you access

to a wide range of banking services

2 People can use a number of different ways to pay

for purchases Checks and debit cards, as well as

cash, are common ways to pay for purchases

People are also increasingly paying for things,

such as large items or bills, using online banking

A customer can take money out of their account

using two methods: check or debit card

A: What can I do for you today, ma'am?

B: I'm thinking about opening a checking account

A: Well, you came to the right place Can I interest

you in our Premium Checking?

B: What does that include?

A: For a low monthly fee, you get protection against

overdraft charges

B: I'm not sure if I need that Do you have anything

without a fee?

A: Certainly Our Basic Checking is available at no

cost Of course, there's no overdraft protection

either Take a seat and we'll get started with the

paperwork

Name: Rita Pate!

Account type: Basic

List any additional services you are looking for in

a checking account: No additional services required

2 The risks of using credit cards are that people buy more things than they can really afford and end

up in debt Also credit cards are sometimes copied and used fraudulently

A: What seems to be the problem?

B: Well, I thought the interest started at zero This letter says it's twelve percent

A: Okay, I can help out Your introductory rate is zeio percent

Introductory rate: 0%

Credit limit: $1500.00

Other fees and restrictions: 1% interest on balance

transfers

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Unit 11

2

1 Bank customers can access their money by using

an ATM or going into a branch of their bank to

2 The easiest way to access a bank account in my

country is usually to use an ATM However, some

banks operate drive-up windows which are also

very convenient And more and more people are

now using telephone banking and online banking

to access their accounts

Ferdinand's Bank has ATMs in many different countries

around the world

A: Finally! I tried to make this deposit twice this week,

but you were closed

B: I'm sorry for the inconvenience, miss Maybe I can

help Do you have a debit card?

A: I do

B: Well, we offer a 24-hour ATM to make deposits

it's right outside The transaction goes through on

the next business day

A: That's nice But I travel a lot

8: You can call our call center They'll direct you to

the closest ATM

A: Okay I'll try that next time

The different ways to make deposits are to go to a

branch or a drive-up window and put the money in

there, or to put it into an envelope and deposit it into

an ATM

To use an ATM, I need my debit card and my PIN

When traveling, I can find an ATM by calling the

bank's 24-hour call centre

Unit 12

2

3

1 Online banking has many benefits lt allows you

to perform transactions wherever you are (as long

as you have Internet access) This means you don't actually have to go to a bank, and probably queue up, to do what you need You can also do things at any time of day, so you don't have to wait for the bank to open More generally, you can keep a much closer eye on your finances which allows you to manage theRl better

2 The risks of online banking are that someone will discover your password and use it to take money out of your account If someone uses an important piece of information as their password (such as their Social Security Number) they may also fall victim to identity theft

8: Hi I'm locked out of my online account I typed

A: Okay, I can unlock that What is your name and date of birth?

B: My name is Elena Papp I was born June 4th, 1990 A: And the last four digits of your account?

B: Let's see it's 9463

8: it's Papp three seven five All one word A: Okay Your account is unlocked

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account

Was customer's problem resolved? If yes, how?

Yes A bank employee unlocked the account after Ms

Papp provided her details over the phone

Unit 13

1 There are a wide variety of jobs that people can

have in banks There are those that deal directly

with the public such as receptionists and tellers,

and those that work mostly behind the scenes

such as administrative staff

2 The hardest jobs in banks are those that have to

deal with the public These staff must remain

polite and calm at all times, even when customers

are behaving badly This can be very difficult

when a bank is busy and customers get frustrated

at having to wait to see a teller

3 1 A bookkeeping clerk B receptionist

Receptionists and tellers have to deal directly with the

public Managers often deal directly with customers too

A: This is the bookkeeping clerk's office Bring all of

your paperwork here at the end of the day

B: Like my balance sheet?

A: Precisely Now, this is Mrs Turner's office She's

the head teller So it you ever have a problem, see

her first

B: Got it

1 0 Answer Key

A: Finally, this is my administrative assistant's desk

He can answer just about any question you have B: I see I can't wait to get started

Job Title: Head teller

drawers, reviewing teller transaction records

Job Title: Administrative assistant

2 The benefits of making transactions by phone are that they can be done quickly and safely

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Phone teller: Arnold Schimdt

Customer name: Maria Nichols

1 Tellers are responsible for ensuring that the money

that is paid into and out of a bank is correct and

all transactions are recorded They also deal with

customer inquiries about other aspects of a bank's

business

2 Teilers are required to be highly numerate and

possess excellent communication skills in order

to deal efficiently with customers

Someone can apply for the position advertised by

picking up an application form that is available in the

bank

1 prior experience 4 handled

3 responsibilities 6 upper level

A: Are you ready to begin the interview, Mr Zhiang?

B: I am Thanks for seeing me

A: First, it says on your application you have

experience handling money What experience do

you have?

B: I was a teller for four years

A: All right And what were your responsibilities in

that role?

B: I dealt with customer deposits and withdrawals,

issued traveler's checks and opened new accounts

A: Great How are your math skills?

B: I took an upper level math class in college, so I'd

say they're very good, sir

9 Suggested Answer Applicant name: Mr Zhiang Prior Experience: Was a teller for four years Skills: Experienced with handling money, excellent

math skills

Answer Key 11

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Audioscripts

Unit 1

Teller (F): Hello, Sir Welcome to First Regional Bank How

can I help you?

Tourist (M): Hi I need to exchange these Euros for

American dollars

Teller: All right Let's see how much you have there

Tourist: Here you go

Teller: Twenty, forty, sixty The total comes to one

hundred and seventy euros

Tourist: How much is that in dollars?

Teller: I'll calculate that now it comes to two hundred

and thirty-five dollars and seventeen cents

Tourist: Great Can I make the exchange?

Teller: Of course But there is a one percent service fee

Unit 2

Manager (M): Hi, Sue I got your email about the supplies

inventory Thanks for doing that

Teller (F): Oh No problem We're pretty low on those

deposit bags

Manager: I saw that If we run out, use the old ones

Teller: Got it We're also out of counterfeit pens

Manger: Well, we can check the bills by hand until Monday

Teller: Okay What about the coin wrappers and bill straps?

Manager: I picked up a box of each at the store Here

you go

Teller: Oh, good Thanks

Unit 3

Manager (M): We need to reorganize the lobby

Employee (F): I know what you mean Customers don't

know where the line starts

Manager: Let's see We could move these armchairs away

from the door

Employee: Yeah Then people could walk straight to the

tellers

Manager: Right And what if we shift the post and rope

setup forward?

Employee: Then there won't be any confusion about the line

Manager: Exactly We could even get some floor mats

Employee: Good idea Blue ones to match the chairs

Unit4

Teller (F): Hello, sir How can I help you today?

Customer (M): Hi I'd like to open a checking account

Teller: Wonderful Here's an account application and a pen

Customer: Okay Thanks

Teller: While you are filling that out, can I see your driver's

license?

Customer: Sure Here you go

Teller: Great Thank you You'll also have to fill out this

deposit slip

12 Answer Key

Customer: Oh Thanks Is there a minimum starting balance?

Teller: Yes, it's just one hundred dollars

Unit 5 Salesperson (F): Thanks for calling Right Place Supply

How can I help you?

Manager (M): Hi, this is Tom Morley with M & P Bank Salesperson: Hello, Mr Morley What can I do for you today?

Customer: I want to buy a currency counter

Salesperson: All right Do you want a machine that counts

paper money or coins?

Customer: Both lt has to count both

Salesperson: Okay lt will be more expensive than a coin

counter Is that all right?

Customer: That's fine I'm sure it will save us a lot of time Unit 6

Manager (M): How did opening go this morning, Ms Tomlin? Employee (F): Everything went pretty well I had trouble starting one of the computers though

Manager: Which computer?

Employee: The one at the third teller station An error

screen came up

Manager: I see We'll have someone take a look at it later Employee: Do you want me to call tech services about it? Manager: No, don't worry about it We'll just keep that

station closed this morning

Unit 7 Teller 1 (M): Karen, can you help me for a second? Teller 2 (F): Sure, Mike What's up?

Teller 1: Well, something's wrong with this deposit slip I

added it all twice, but the total is still wrong

Teller 2: Let me see There are four checks Three checks for one hundred dollars And one for one thousand, three hundred

Teller 1: Yeah I multiplied the hundred dollar checks by

four and added thirteen hundred

Teller 2: There's your problem

Teller 1: What do you mean?

Teller 2: You multiplied by the wrong number Teller 1: Oh, what a simple mistake! Thanks

UnitS Teller (F): Is this correct, Mr Jones? You want to take

three hundred out of your savings account?

Customer (M): That's right Why, is there a problem? Teller: A small one You have the money But your account

is limited to one withdrawal a month

Customer: Oh, and I pulled out money last week to make

a cashier's check Well, I really need the cash

Teller: Are you sure? There will be a fee

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Customer: How much is it?

Teller: it's twenty dollars

Customer: I don't have a choice I'll just pay the fee

Unit9

Agent (M): What can I do for you today, ma'am?

Customer (F): I'm thinking about opening a checking

account for my son

Agent: Well, you came to the right place Can I interest

you in our Premium Checking?

Customer: What does that include?

Agent: For a low monthly fee, you get protection against

overdraft charges

Customer: I don't think he needs that Do you have

anything without a fee?

Agent: Certainly Our Basic Checking is available at no

cost Of course, there's no overdraft protection either

Take a seat and we'll get started with the paperwork

Unit 10

Representative (F): Finances Plus, Carol speaking How

can I help you?

Customer (M): Hi, I just got a card and I'm confused about

my interest rate

Representative: What seems to be the problem?

Customer: Well, I thought the interest started at zero This

letter says it's twelve percent

Representative: Okay, I can help out Your introductory

rate is zero percent

Customer: Oh, wonderful

Representative: But next November, your rate goes up to

twelve percent

Customer: Oh, I see now Thanks for your help

Unit 11

Customer (M): Finally! I tried to make this deposit twice

this week, but you were closed

Teller (F): I'm so sorry for the inconvenience, sir Maybe

I can help Do you have a debit card?

Customer: I do But I leave it at home, just to be safe

Teller: Well, we offer a 24-hour ATM to make deposits

it's right outside The transaction goes through on the

next business day

Customer: That's nice But I travel a lot

Teller: Just call our call center They'll direct you to the

Caller (M): Hi I'm locked out of my online account I typed

my password wrong a few times

Teller (W): Okay, I can unlock that First I'll need your name and date of birth

Caller: My name is Richard Hanson I was born January 10th, 1973

Teller: And the last four digits of your account?

Caller: Let's see it's 8932

Teller: Thank you, Mr Hanson Now, what is your password?

Caller: it's Hanson one two two All one word

Teller: Okay Your account is unlocked

Unit 13 Manager (M): Welcome to your first day on the job I'll show you around

Employee (F): Great, thanks

Manager: This is the bookkeeping clerk's office Bring all

of your paperwork here at the end of the day

Employee: Like my balance sheet?

Manager: Precisely Now, this is Mr Dahl's office He's the head teller So if you ever have a problem, see him first

Employee: Got it

Manager: Finally, this is my administrative assistant's desk She can answer just about any question you have

Employee: I see I can't wait to get started

Unit 14 Banker (F): Kopps Savings Bank How may I help you?

Customer (M): I'm calling to make a transfer

Banker: Okay Your name and bank account number please?

Customer: Chris Riley 285 023 5519

Banker: Thank you, Mr Riley What kind of transaction would you like to make today?

Customer: I want to move $400 from my checking account into savings

Banker: We can do that

Unit 15 Interviewer (M): Are you ready to begin the interview, Ms Nelson?

Applicant (F): I am Thanks for seeing me

Interviewer: First, I want to know about your prior experience lt says on your application you have experience handling money

Applicant: That's right I was a teller for three years

Interviewer: All right And what were your job responsibilities?

Applicant: I issued money orders and handled mortgage payment transactions

Interviewer: Great How are your math skills?

Applicant: I'd say they're very good, sir I took two upper level math classes in college

Answer Key 13

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Unit 1

1 The safest way to send money abroad is

electronically: putting cash or checks in the mail is

not safe as they might get stolen Wire transfers are

common, and involve electronic transfers of funds

between bank accounts, though services between

people at special offices are also common in many

countries, especially where banking systems are not

well developed For larger or faster transfers real time

gross settlement (RTGS) transfers are usually used

2 The main difference between wire transfers and

RTGS is that RTGS is much quicker (and therefore

more expensive) Funds are transferred immediately

The other difference is that once an RTGS

transaction is complete it cannot be changed,

whereas with a wire transfer it is possible to

change it before the transaction is settled

The quickest way to transfer funds between bank

accounts is to use an RTGS transfer

2 Here you go 5 within 24 hours

A: This is my first time doing this So how does it work?

B: First I'll neea the recipient's name, contact

information, and routing number

A: I have written it all down Here you go

B: Thank you I'll just enter that into our system

A: How long will it take?

B: After I submit the transaction, the funds should

arrive within 24 hours

A: Will I get a confirmation when the funds arrive?

B: Yes, once the funds arrive, you'll get an email

notification

14 Answer Key

9 Suggested Answer Type of funds transfer: (Check one)

Provide additional information below:

Send email notification once funds arrive

Unit 2

1 People borrow money for many reasons Usually

it is to buy a particular item like a new car or motorbike But sometimes people borrow money for a holiday, or even simply because they are short of cash

2 People in my country usually borrow money through personal loans: either through their banks

or specialist loan companies In some cases finance is offered by the company selling a product: this is particularly common for automobile purchases and is often where manufacturers make a lot of their profits

2 1 none, 36 months

2 new and used vehicles, up to 84 months

3 1 personal loan 4 early payoff penalty

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A: Now, you said the loan has a term of 36 months

What's that exactly?

B: That is how long you must make payments on the

loan You'll pay a hundred and sixty dollars a month

for 72 months

A: Uh huh Another thing I don't understand is this

early payoff penalty

B: That is a fee we charge you if you pay off the

balance of the loan before 36 months

A: Thanks for clearing that up I think I'm ready to

give it my signature now

Borrower: Juan Ardilez

Amount: $10,000

Type: (check one)

Term: 72 months

Fees: (explain in detail)

No application fee, closing costs are payable A

$1000 down payment is necessary

1 Most people finance the purchase of a home in

my country with a mortgage This is a loan

specifically for buying property, where that

property is used by the lender to guarantee

payment If a borrower is unable to pay back the

loan the lender will foreclose on them and take

possession of the property

2 Some costs associated with getting a home loan

are the interest rate that must be paid as well as

mortgage insurance and points, an upfront

payment which may be used to get a better

interest rate on a home loan

fixed rate amortize, down payment

adjustable rate refinance points

Somebody might choose an adjustable rate mortgage

if they are thinking about refinancing at a later date

A: Wow! That sounds great

B: The rate is very low, but the downside is that it requires a 20% down payment

A: Ouch That's a bit steep I don't think I can afford that much

B: You can still get the loan, but we'll add on four points

A: Hmmm That's another strike against it You said there was another option

9 Suggested Answer What type of mortgage are you looking for?

(Check one) ~fixed rate D adjustable rate What term? D 30 year ~ 15 year

How much do you have available for a down payment? $25,000

Are you willing to pay points? yes

What is more important to you: low points, low rate, low down payment? Explain

A low and steady rate of interest is most important for me This will allow me to make sure that I can keep up with the repayments

Unit4

1 People in my country invest their savings in a wide variety of products and institutions Interest bearing bank accounts are probably the most common investment for most people, but many people also invest in stocks too

2 Banks commonly offer interest bearing accounts, such as savings accounts Often money must be deposited for a particular period to get a better rate of interest Deposits are normally insured against loss if a bank fails Banks also offer Certificates of Deposit (CDs) which may offer better rates of interest These are always for a fixed term with better rates available to those savers who are prepared to deposit their savings for longer Sometimes better rates are offered on CDs that are not insured for investors with a greater appetite for risk

Answer Key 1 5

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2 1 T 2 F 3 T

3 1 A 3 c 5 B

2 F 4 E 6 D

4 1 variable rate 4 ladder

2 early withdrawal 5 mitigate

3 Insured 6 Certificate of Deposit

The smallest amount that someone can invest in a

CD is $1000

6 1 X 2 / 3 / 4 X

7 1 interest 4 here's what I'd do

2 fixed rate 5 ladder

3 a year or two 6 get the idea

A: I'd like to invest in a CD

B: Ok Would you prefer one with a fixed rate or

variable?

A: Well, don't want the rate of interest to change,

so fixed rate

B: And how long do you want to invest?

A: I need some of the money to be available in

about a year, but the rest I won't need for some

time

B: In that case I'd suggest structuring your COs in a

ladder

A: What's that exactly?

B: You can invest some money in a one year CD,

some in a two year CD, and some in a five year CD

A: What's the advantage of that?

B: Longer term COs pay a higher return so you'll get

a higher rate of return overall and still have

access to money in a year

Name: Andreas Goldstein

Amount: $50,000

How many COs do you wish to purchase?

(Specify amounts, terms and rates)

$10,000 in one year fixed rate (1.12%)

$20,000 in two year fixed rate (1.95%)

$20,000 in five year fixed rate (2.85%)

Would you like any of your COs to be automatically

renewed when mature?

(If yes, specify which ones) No

16 Answer Key

Unit 5

1 Most people in my country see the stock market

as disconnected from their lives, particularly in recent times Many people do put money into the stock market via their retirement plans, but they

do not actively participate in the buying and selling of stocks or spend a great deal of time following the stock market

2 lt is possible to buy individual stocks but the majority

of people invest in mutual funds This allows them

to purchase a much wider variety of financial instruments such as stocks and bonds and spread the risks associated with their investments

2 A equity fund B money market fund

3 A management fees B commission

B: it's among the best funds But remember, high returns are not guaranteed Mutual funds, even the Supernova fund, can lose money if the market drops

A: Right, but past returns indicate good management, don't they?

B: In most cases, yes But there's another thing to watch out for

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Customer's Name: Martin Eiger

Financial Advisor: Pamela Bond

What was the purpose of your visit? To discuss

what type of mutual fund to invest in

What advice did you receive? To be aware that even

good funds can lose money, and that some of the

more successful ones charge high management fees

How would you rate the quality of the advice?

The advice I received was good

Please explain why I was not aware of these issues,

but your advisor explained them to me in a simple

and easy to understand way

1 There are a few major, national banks that are

popular and hold the majority of people's savings

in the US but, for many people, local community

based banks are also very popular

2 The advantages of smaller banks are that they have

a much better knowledge of the local economy and

conditions This allows them to give a more personal

service to their customers They are often more

accessible than larger banks as their branches and

headquarters are likely to be much closer to where

their customers live and work

2 D 4 B 6 A

1 Bank Traits: accessible, risk averse

2 Applicant Evaluation: credit score, character

3 Bank Customers: small businesses, family, farmers

Suggested Answer

The bank's accounts are insured up to $200,000

1 paid back

2 making some payments

3 limit your options

4 late

5 credit score

6 basic checking account

B: Okay Have you done business with us before?

A: Yes, I have I took out an auto loan a few years ago

B: Has it been paid back?

A: Um, well, yes But I had trouble making some payments last year Is this going to count against

A: Was it that many?

B: That's what our records say It'll hurt your credit score But we can still offer you our basic checking account, just not any of our preferred products

A: Whew I was worried you'd turn me down

9 Suggested Answer Name: Alan O'Sullivan

Account applying for: Checking account

Does applicant have current or former accounts?

2 Banks guarantee business transactions in my country by issuing letters of credit which guarantee that payments for goods and services will be made

2 A 4 B 6 B

1 merchant banking 4 time deposit

2 underwriting 5 performance bond

3 worried about delays 6 talk about

Answer Key 17

Trang 19

A: Thank you for coming in Mr Wright What can I

do for you?

B: I'd like to apply for a performance bond for an

upcoming construction job We're putting up a

small office building

A: Okay What's the estimated budget for the project?

B: I've calculated $1,000,000

A: Is that the amount you need?

B: Yes

A: How long is the project expected to last?

B: Our timeline is eleven months But I'm worried

about delays, so I'd like the bond to cover that

entire period plus four months

A: Okay We can do that

B: How soon will you be able to issue the bond?

A: I'll need to send your information to underwriting I

usually hear back from them in five to seven days

B: Great Let's talk about what information you need

Name: Mr Wright

Company: FW Construction

Amount of Bond: $1,000,000

Duration of Bond: 15 months

Describe the project: Small office building construction

UnitS

1 Credit unions are a type of financial institution that

are usually run on a not for profit basis

2 Membership of a bank can benefit customers as

it allows them to elect those that run the institution

and ultimately decide what kind of institution they

want, including who is eligible for membership and

where the bank should be based

4 1 credit union 3 account holder

2 board of directors 4 not-for -profit

B: Why? What do you think?

A: The founders of our credit union stated that its mission was to serve the needs of federal employees, so I think we should limit our eligibility

to them

B: I think that's a mistake

A: What are you suggesting we do then?

B: Well, we have an outstanding reputation, and not only among our members Lots of people would love to join our credit union

9 Suggested Answer Why people want to join: People want to join the credit union as it has an excellent reputation

Reasons to expand: Would provide additional capital

is assisting in mergers and acquisitions whereby businesses join or buy out other businesses

2 proprietary trading 5 debt capital

Trang 20

6

In the previous year Gelding Investment Bank raised

$15.2 bn in equity capital and $9.5bn in debt capital

for its clients

7 1 an example

2 little known

3 Nobody

4 why did you

5 had the potential

6 it's now up to

A: Could you give our readers an example?

B: Sure Last year, we found a little known company,

LBA Corp it sells computer parts Nobody was

investing in them

A: So why did you?

B: We liked their product and saw they had the

potential for huge growth So we started with a $1

million investment in February By May, it was

Describe the investment: Their proprietary trading

team invested in a small computer company called

LBA Corp

How did they decide on that investment? They

liked their product and saw that it had potential for

huge growth

How much did they make on the investment? Their

initial investment of $1m in February was worth $2.5m

by May and is now worth $6.2m

Unit 10

1 Investment banks face several risks when they

trade, such as market risk, credit risk and

operational risk

2 Investment banks can minimize those risks by

engaging in risk management: calculating the

likelihood and size of possible risks before allowing

trades to be undertaken With some trades it might

be possible to offset (or hedge) those risks with

other trades {for example interest rate swaps) or

purchase other financial instruments that act like a

form of insurance (e.g credit default swaps)

2 1 Manage information technology resources

7 1 manage risk 4 all that it does

2 one role that it plays

3 responsible for

5 financial controls

6 makes all trades

B: So, who can tell me why the Middle Office is

B: Yes That's a very important function But that's

not all that it does

A: Um I remember reading about financial controls

B: Right Did you understand what that meant?

A: Not exactly I think it means that the Middle Office

makes all trades

B: Actually, that's incorrect Fiscal control has to do

with keeping track of the money coming into and

leaving the bank

2 How does a Middle Office manage cash flows?

A corporate treasury monitors all the funds going

into and out of a company

3 What is the third role of the Middle Office?

Their third role is the management of information technology resources

Answer Key 19

Trang 21

Book 2 Answer Key

Unit 11

1 Suggested Answers

1 Investment banks rely on computers to do much

of their trading automatically, as well as performing

other functions such as data checking and trade

confirmation

2 Computers have had both positive and negative

impacts on investing The use of computers

allows for much more sophisticated analysis of

companies, financial products and associated

risks it also improves efficiency by automating

certain back office functions such as

data-checking and trade confirmation However,

automated trading could also increase risks to the

wider market and economy, as prices may be

distorted or more volatile as computer based

trades focus on short-term movements and react

to other banks' (automated) purchases and sales

4 1 trade confirmation 4 data-checking

3 trading algorithm 6 software

Those staff no longer needed to check data and

confirm trades will be transferred to other roles

2 kind of tight 5 training

A: We need at least one more employee

B: How much would it cost to hire one?

A: I've estimated $80,000 per year including salary

and benefits

B: Have you talked with HR yet?

A: Not yet I wanted to discuss this with you first

B: Well, our budget is kind of tight right now

A: I understand, but we can't cut back on tech support

B: I agree So here's an idea Could we shift someone

over from trade confirmation? The new software

makes some of their functions redundant

A: That could work But we'll still have to pay for training

B: I'm sure that will cost much less than hiring an

additional employee

2 0 Answer Key

9 Suggested Answer Employee name: Jon Nesbit

Current team: Trade confirmation Team requested to transfer to: Technical support Reason for transfer: Technical support requirements

have increased

Estimated cost: $15,000 Unit 12

of these steps may be done on line

2 A person with a poor, or non-existent, credit history may be prevented from qualifying for a loan as well as those with insufficient income or assets or those convicted of financial crimes such as fraud

B: Well, if a loan officer fails to understand a customer's needs, they could lead the customer into taking out the wrong loan And that could be

an added risk for the lender

A: Interesting Go on

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