1、BEC商务英语（中级）阅读模拟试卷 4及答案与解析 一、 PART ONE 1 Look at the statements and the company news reports below. Which news report (A, B, C or D)does each statement 1-7 refer to? For each sentence 1-7, mark one letter (A, B, C or D) on your Answer Sheet. You will need to use some of the letters more than once. A
2、With its investment, and technology agreements, Zenith Electronics of the U. S. the first transaction of this type in Korea occurred. B Structured, marketed to investors and made a principal investment in the Fund with total equity of U, S. 40 mil lion to invest in Taiwanese high4echnology venture c
3、apital opportunities. C In connection with its ratings with Standard the major problems include commercial, political and foreign exchange risks. Commercial risks are handled essentially as normal credit risks encountered in day-to-day business. They include solvency, default, or refusal to pay bill
4、s. The major risk, 【 8】 _which can only be dealt with through consistently effective management and marketing. One unique risk encountered by the international marketer involves financial adjustments. Such risk is encountered when a controversy arises about the quality of goods delivered, a dispute
5、over contract terms, or 【 9】 _ One company, for example, shipped several hundred tons of dehydrated potatoes to a distributor in Germany. The distributor tested the shipment and declared it to be below acceptable taste and texture standards. The alternatives for the exporter were reducing the price,
6、 reselling the potatoes, or shipping them home again, each involving considerable cost. Political risk relates to the problems of war or revolution, currency inconvertibility, expropriation or expulsion, and restriction or cancellation of import licenses. Political risk is an environmental concern f
7、or all businesses. Management information systems and effective decision-making processes are the best defenses against political risk. As many companies have discovered, sometimes there is no way to avoid political risk, 【 10】_ Exchange-rate fluctuations inevitably cause problems, but for many year
8、s, most firms could take protective action to minimize their unfavourable effects. Floating exchange rates of the worlds major currencies have forced all marketers 【 11】 _ International Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop
9、in their earnings in the third quarter of 1981. 【 12】 _, devaluations of major currencies were infrequent and usually could be anticipated, but exchange rate fluctuations in the float system are daily affairs. A. After serious consideration B. commercial, political and foreign exchange risks. C. how
10、ever, is competition D. any other disagreement over which payment is withheld E. to be especially aware of exchange-rate fluctuations and the need to compensate for them in their financial planning F. so marketers must be prepared to assume them or give up doing business in a particular market G. Be
11、fore rates were permitted to float 三、 PART THREE 13 Read the article below about Common Stock and Preferred Stock and the questions. For each question 13-18,mark one letter A, B, C or D on your Answer Sheet. Common Stock and Preferred Stock A public corporation issues certificates of ownership, call
12、ed common stock, which may be traded on stock ex changes. Anyone can buy and sell shares of common stock. Owners of stock are referred to as shareholders and stockholders. Common stockholders are accorded certain rights by the corporate charter. In the United States, these rights vary from state to
13、state, but in general the articles of incorporation spell out voting rights and rights to receive profits. Common stockholders are the voting owners of a Corporation. They are usually entitled to one vote per share. They may vote on numerous affecting the corporation (including a decision to sell or
14、 merge with anther corporation) and elect a board of directors, who, in turn, hire managers to run the business. A majority shareholder is one who owns over 50 percent of the outstanding shares in a corporation and, thus, can call the shots. All other shareholders are minority shareholders. In large
15、 corporations no single person or organization owns anywhere near a majority interest. In large, publicly owned corporations a shareholder with as little as 10 percent of the shares may control the corporation effectively. If things go badly, a coalition of so called dissident shareholders may gathe
16、r enough votes to replace the existing board of directors; the new board may fire the existing management and bring in their own management team. Although common stock represents ownership in a company, it does not guarantee the owners a specified rate of return. As owners, the stockholders receive
17、profits after all expenses, including debts and taxes, have been paid. They receive profits from the business in the form of dividend payments, which represent a percentage of profits. Not all after-tax profits are paid to the stockholders in dividends. Directors usually decide quarterly how much, i
18、f any, if the profits they wish to distributed to the owners. The profits are either distributed to the owners in dividends or they are reinvested bank into the company in the form of retained earnings. If the company decides to keep the profits, the company may become more valuable and the price of
19、 the stock usually goes up. Some investors prefer profits in the way of dividends while others speculate for an increase in the price of stock. If a company goes broke, common stockholders get last claim on whatever is left over. Corporations may also issue preferred stock to investors. Preferred st
20、ock usually has no vote in the election of the board of directors, but does get preference in the distribution of the companys earnings. It offers investors a different type of security and may be issued only after common stock had been issued. The term “preferred“ applies to two conditions. First,
21、preferred stockholders gain preferential treatment in the matter of dividends) That is, they receive a fixed fete of dividends prior to the payment of dividends on common shares. Second, if the company goes out of business or liquidates, preferred stockholders are closer to the front of the line tha
22、n common stockholders when distributing the companys assets. Dividends to preferred stock may be cumulative or noncumulative. Cumulative preferred stock maintained its claim to dividends even if the company had a bad year in 1994, they might decide not to pay dividends. But if they had a good year i
23、n 1995, and declared stock dividends do not accumulate, If dividends are not declared, noncumulative owners lose their claim to the profit of that period. All in all, common stock usually has more control through voting privileges, greater chance for high returns, and more risk, while preferred stoc
24、k usually has less control, fixed returns, less risks, and less chance for big gains. 13 The second paragraph describes _. （ A） the returns to common stockholders （ B） the majority and minority stockholders （ C） the voting rights of common stockholders （ D） the formation of common stock 14 Common st
25、ock traded on stock exchanges represents _. （ A） the voting rights the stockholders have （ B） the stock shared by common people （ C） the profits the shareholders receive （ D） the ownership of a public corporation 15 One of the differences between common stock and preferred stock lies in that _. （ A）
26、 the former is safer in getting dividends （ B） common stockholders get more stable profits （ C） the latter gets more fixed returns （ D） preferred stockholders have more rights in voting 16 The main purpose of, the third paragraph is to tell us _. （ A） the rate of returns to the stockholders （ B） the
27、 risk of common stockholders （ C） the distribution of profits to the stockholders （ D） the benefits of common stock 17 For those who want to get high returns, it is better for them to buy _. （ A） preferred stock （ B） common stock （ C） non-cumulative stock （ D） cumulative stock 18 With cumulative pre
28、ferred stock, stockholders can _. （ A） claim to the former profits when the company has a good year （ B） have more control over the company （ C） claim to the former profits when the company had a bad year （ D） receive high returns 四、 PART FOUR 19 Read the article below about cost. Choose the best wo
29、rd to fill each gap, from A, B, C or D. For each question 19 33, mark one letter (A, B, C or D) on your Answer Sheet. There is an example at the beginning. Cost as a Factor in Supply In a purely competitive market, the supplier of goods and services has no control over the market price, because he p
30、roduces too little to influence market conditions. With no difference between his product and the products (19)_ his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or below the market price. However, in considering the price, be must take
31、 cost of production (20)_. There are times when he may be willing to sell below his cost. This might happen when prices tumble for (21)_ a short time. However, no business person can (22)_ lose money for a prolonged (延长的 ) period. He must (23)_ of his costs in relation to the market price if he is t
32、o compete successfully and earn a profit. Many people have the impression that (24)_ production increases, costs per unit decrease. (25)_ mass production has made this true in certain industries and at certain levels of production, (26)_ logic and practical experience have shown that costs per unit
33、begin to rise beyond a certain level of production. Some economists (27)_ this principle as the law of increasing costs. The reason why (28)_ rise as production goes up is complex. However, it is easy to recognize that as production goes up, the need for additional factors of production will also gr
34、ow, resulting (29)_ competitive bidding (出价 ) in the marketplace for the factors of production. If a producer needs (30)_ skilled labour to produce more, and none of this labour is unemployed, the producer will have to get (31)_ from other sources. This can be done by (32)_ higher wages. Higher bidd
35、ing would also apply to the other factors of production. We must also recognize that not all labour is equally productive, (33)_ not all land is equally fertile (肥沃的 ) and not all ore is equally rich in the mineral wanted. （ A） to （ B） at （ C） of （ D） on （ A） to consider （ B） into consideration （ C）
36、 to consideration （ D） in consideration （ A） he believes will be （ B） what he believes be （ C） what he believes will be （ D） he believes to be （ A） afford to （ B） be affordable （ C） be afforded to （ D） have afforded （ A） constantly aware （ B） constantly knowledgeable of （ C） be constantly aware of （
37、 D） constantly aware of （ A） while （ B） as （ C） however （ D） now that （ A） Because （ B） Since （ C） When （ D） While （ A） both （ B） as well as （ C） also （ D） but （ A） refer （ B） refer to （ C） call （ D） are referred to （ A） cost （ B） the cost （ C） the costs （ D） costs （ A） from （ B） in （ C） / （ D） for
38、（ A） less （ B） numerous （ C） more （ D） many （ A） them （ B） these （ C） it （ D） those （ A） offering （ B） cutting （ C） reducing （ D） having （ A） as just （ B） just as （ C） because （ D） while 五、 PART FIVE 34 Read this report about the limited company. In most of the lines 34 35 there is one extra word. I
39、t is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct. If a line is correct, write CORRECT on your Answer Sheet. If there is an extra word in the line, write the extra word in CAPITAL LETTERS on your Answer Sheet. What Is An Limited Com
40、pany When a limited company has started for trading, you do not invest in shares by giving more capital to the company. You buy for them from one of the shareholders. 34. If it is a public limited company, shares can be bought and sold freely, usually 35. at a Stock Exchange. If the company is doing
41、 well and paying high dividends, 36. then you might pay more than the face value of the shares. If what it is doing badly 37. you might pay less than the face value of the shares. The price you pay at the Stock 38. Exchange for your shares is their market value, if that the company fails, it will 39
42、. stop trading and go into liquidation. This means that all the companys property and 40. equipment must be sold and the money from the sale will be used to pay for all 41. its debts. The shareholders may lose the money they paid for the shares. If the 42. company still does not have enough money to
43、 pay all its debts, the shareholders 43. do not have to pay any more money. In other words, the shareholders liability for 44. debts is limited to the value of their shares. On the other hand, if when you are an 45. owner of a business, which is not limited, when business fails, you will go bankrupt
44、 BEC商务英语（中级）阅读模拟试卷 4答案与解析 一、 PART ONE 1 【正确答案】 A 【试题解析】 “该公司与一家美国公司有业务往来。 ”这几段文字有好几个地方提到 U. S. ，但大多是美元的标识，只有 A段才指美国。 2 【正确答案】 B 【试题解析】 “四千万美元投资于台湾。 ”B段描述的是一家台湾公司，提到过题干，因此 B对。 3 【正确答案】 C 【试题解析】 “没有哪家钢铁公司有如此之高的级别。 ”C段的最后一句与之相同，标题告知我们，这是家钢铁公司。 4 【正确答案 】 D 【试题解析】 “该公司是一家英国公司的主要股东。 ”D段说这家公司是 “the control
45、ling share holder of Cam bridge Cable Ltd. of the U. K. ”。 5 【正确答案】 D 【试题解析】 “该公司在通讯线路领域扩张。 ”D段最后一句与该句子意思相符。 6 【正确答案】 A 【试题解析】 “两家公司就技术合作问题达成协定。 ”A段说这家韩国公司有“technology agreements with， Zenith Electronics of the U. S. ”。 7 【正确答案】 D 【试题解析】 “该公司从股票中得到很高的利息率。 ”D段中说得到了 50%的利息率，所以 D对。 二、 PART TWO 8 【正确答案】
46、 C 【试题解析】 The major risk是句子的主语，因此需要填入的是句子的谓语，however是个副词，不影响句子的语法结构。 9 【正确答案】 D 【试题解析】 和前面的 the quality of goods., a dispute over contract terms一样， any other disagreement也是介词 about的宾语，只是在它后面多了个定语从句 over which payment is withheld。 10 【正确答案】 F 【试题解析】 上文表示有时政治风险不可避免，这显然是原因，因此需要一种结果。 So引导的从句是结果。 11 【正确答
47、案】 E 【试题解析】 force这个动词后面常用名词 +to不定式的复合宾语。只有 E符合要求。 12 【正确答案】 G 【试题解析】 这里填入的是一个完整的从句，其它皆 不符合要求。 三、 PART THREE 13 【正确答案】 C 【试题解析】 此段主要讲了普通股所有者的权利。概括段意的话，一般位于段首或段尾。此属前者。 14 【正确答案】 D 【试题解析】 “普通股可以在股市中流通，象征着公司的所有权。 ”由首段首句“A public corporation issues certificates of ownership, called common stock” 可知。 15 【
48、正确答案】 C 【试题解析】 结果在第四段，在描述优先股的 两个特征时说此股持有者可享受固定率的分红 (recieve a fixed rate of dividends)。 16 【正确答案】 A 【试题解析】 也是概括段落中心大意。中心句在段首，说； “尽管普通股代表了对公司的所有权，但并不能保证所有者拥有固定的收益 ”。 17 【正确答案】 B 【试题解析】 文章最后一段，在概述普通股和优先股的特性时，说前者有更多机会获得高回报 (greater chance for high returns)。 18 【正确答案】 C 【试题解析】 文 章在倒数第二段区分累积性优先股和非累积性优先股时
49、，明确提到这一点。 四、 PART FOUR 19 【正确答案】 C 【试题解析】 这里显然需要一个能表示从属关系的介词，只有 of是正确选择。例如： the faculty of the university大学的教工。 20 【正确答案】 B 【试题解析】 这句话的意思是：然而，在考虑价格时，他还必须考虑生产成本。take. into consideration (或 take. into account)：考虑，考虑进去。这是一个固 定动词词组。例如； His request must be taken fully into consideration必须充分考虑他的要求。 21 【正确答案】 C 【试题解析】 被选择项是插入成分，去掉这一成分句子在语法上仍然成立： This might happen when prices tumble for a short time但作者强调的是，供应商这样认为，即，认为价格会在短时期内下跌。 for
