Angol rsbeli Nyelvvizsga

Gyakorl Tesztgyjtemny

zleti Angol Kzpfok 2. BGF tpus zleti nyelvvizsgra kszlknek

Kedves Nyelvtanul! A kzpfok zleti rsbeli nyelvvizsgn egyarnt mrik a vizsgz nyelvtani tudst, zleti szkincst, olvasott szveg rtsi kszsgt s rskszsgt. zleti, gazdasgi tanulmnyokat folytat, vagy ilyen terleten dolgoz vizsgzk vlasztjk leginkbb. Ugyan ez hangslyozottan egy nyelvvizsga, azrt felttelezi, hogy a vizsgz anyanyelvn is rendelkezik meglv httrtudssal s bizonyos fok jrtassggal zleti tmkban. Az elfordul szvegek autentikus forrsokbl mertett gazdasgi szvegek, amellyel a vizsgz a val letben is tallkozhat folyiratokban, knyvekben, vagy tanulmnyai, illetve munkja sorn brhol. A sikeres vizsghoz nem tkletes megoldst kell elrni, hanem a feladatok sszrtkt tekintve 60%-ot meghalad teljestmnyt. Mivel a kzpfok zleti nyelvvizsgt megszerezni nem knny, rdemes sokat gyakorolni azokat a feladat tpusokat, amelyek elfordulnak a vizsgn. Minden nyelvvizsgn nagy elnyt jelent, ha ott gy jelennk meg, hogy eltte mr nagy feladatmegold rutint szereztnk. Remnyeink szerint ebben tud eredmnyesen segteni ez a gyakorlknyv. J munkt s sok sikert kvnunk!

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Contents Feladat tpusok ........................................................................................................................... 4 SET 1 Test 1 Use of English Grammar and Business English Vocabulary ..................................................... 5 Test 2 Reading comprehension 1 ......................................................................................................... 10 Test 2 Reading comprehension 1 ......................................................................................................... 12 Test 3 Writing ...................................................................................................................................... 15 Answers Set 1 ........................................................................................................................................ 17 SET 2 Test 1 Use of English Grammar and Business English Vocabulary ................................................... 22 Test 2 Reading comprehension 1 ......................................................................................................... 27 Test 2 Reading comprehension 1 ......................................................................................................... 29 Test 3 Writing ...................................................................................................................................... 32 Answers Set 2 ........................................................................................................................................ 34 SET 3 Test 1 Use of English Grammar and Business English Vocabulary ................................................... 39 Test 2 Reading comprehension 1 ......................................................................................................... 44 Test 2 Reading comprehension 1 ......................................................................................................... 46 Test 3 Writing ...................................................................................................................................... 49 Answers Set 3 ........................................................................................................................................ 51 SET 4 Test 1 Use of English Grammar and Business English Vocabulary ................................................... 56 Test 2 Reading comprehension 1 ......................................................................................................... 61 Test 2 Reading comprehension 1 ......................................................................................................... 63 Test 3 Writing ...................................................................................................................................... 66 Answers Set 4 ........................................................................................................................................ 68 SET 5 Test 1 Use of English Grammar and Business English Vocabulary ................................................... 73 Test 2 Reading comprehension 1 ......................................................................................................... 78 Test 2 Reading comprehension 1 ......................................................................................................... 80 Test 3 Writing ...................................................................................................................................... 83 Answers Set 5 ........................................................................................................................................ 85

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Feladat tpusok

Use of English Grammar and Business Vocabulary A vizsga ezen rszben vltozatos tesztfeladatok vannak. Ezek egy rsze az zleti szkincset mri, msok a nyelvtani tudst. Sztr nem hasznlhat.

Reading comprehension 1 - 2 Olvassi kszsget mr feladat. Kt zleti jelleg szveget kell elolvasni, majd megoldani a hozzjuk tartoz feladatokat, amelyek kztt van Igaz-hamis tpus feladat, feleletvlaszts teszt, adatok megadsa, szkeressi feladat a megadott defincikhoz, illetve a szvegre vonatkoz nylt vg krdsek. Az utbbi feladatnl csak a lehet legrvidebben kell vlaszolni a feltett krdsekre angolul. Sztr hasznlata megengedett.

Writing rskszsget mr feladat. Egy kb. 120 - 150 szbl ll hivatalos zleti levl rsa megadott szempontok szerint. Minden megadott szempontra ki kell trni. Figyelni kell arra, hogy a szveget nem mlesztett formban kell megrni, hanem megfelelen bekezdsekre kell tagolni, valamint be kell tartani az angol levlformtumra vonatkoz formai kvetelmnyeket. (Cmzs, dtum, megszlts, elkszns, alrs). Sztr hasznlata megengedett. A gyakorlknyvben minden rsz vgn tallsz megoldkulcsot, amellyel ellenrizheted megoldsaidat. A levlrsi feladathoz mintamegolds van, hiszen a levlrs kreatv jelleg feladat, gy annak nem ltezik egyfle j megoldsa. Az olvasott szveg rtse (Reading comprehension 1 - 2) feladatoknl srgval vannak kiemelve a megoldkulcsban azok a szvegrszek, amelyek a krdsekre adand vlaszokhoz tartalmazzk az informcit.

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SET 1

Test 1

Use of English Grammar and Business English Vocabulary TASK 1

Match the expressions with the business definition. There are TWO extra expressions which you do not need to use.

balance benefit brand commercial retail warehouse wholesale

1. the place where finished goods are kept 2. paid advertisement on radio or TV 3. advantage of a product or service, usually derived from its features 4. the difference between credits and debits in an account 5. to sell in bulk (as to a shop for resale to the public)

TASK 2

Complete each sentence with the correct form of the word in capital letters. 6. DIVISION The calendar year __________ into four quarters. 7. EXPERT Im not surprised he managed to solve the problem as financial planning is his area of __________ . 8. EFFECT I dont think these programs are very __________ . 9. SUPPLY Ms Green is the person who deals with paying our __________ .

TASK 3

Which of the two words on the left form partnership with the word on the right? 10. Outdoor advertising External

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11. Pay rise Salary 12. Market penetration Marketing 13. Pension age Retirement

TASK 4

Which is the odd word out in each line?

14. withdraw deposit transfer invest 15. bear deer stag bull 16. be in debt be in the red owe be in the black 17. truck cargo port aboard

TASK 5

What do the following abbreviations stand for?

18. WTO 19. EXW 20. t/o

TASK 6

Complete each sentence so that it means the same as the one before it. 21. Mr Gregory said, I will be showing the German group around when you arrive. Mr Gregory said he ... 22. We started selling this product in 2003. We have ... 23. Inflation has caused all sorts of problems. All sorts of problems ... 24. It was not necessary to wait for the answer to the fax. You need ...

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TASK 7

Choose the best alternative. 25. Most American people prefer __________ their money to saving it. A. spend B. spending C. to spend D. to spending 26. Prices __________ out of control. A. gone B. have spiralled C. was going D. have been spiralled 27. If you __________ the sales report carefully, you wouldnt have asked anything. A. had read B. would read C. have read D. would have read 28. You still have a lot__________ about marketing strategies. A. learn B. learning C. to learn D. to learning 29. The offices are open all day and night, __________ means that staff can use the facilities whenever they like. A. which B. that C. what D. so 30. The warehouse is full of goods waiting __________ to shops. A. to be delivered B. to being delivered C. to delivered D. to deliver TASK 8

Fill in the following sentences with suitable prepositions.

31. They will be stuck in customs awaiting clearance _____ at least two weeks.

32. Mr Abraham is responsible _____ sales and marketing.

33. Christine is our best sales rep, she is very good _____ persuading others.

TASK 9

Use the correct form of the verbs in brackets to complete the following sentences.

34. Ive bought a new dictaphone. I __________ (record) the presentation later this afternoon.

35. The state-of-art office building __________ (have) a swimming pool. Many employees have a

swim after work.

36. When I entered the office, my secretary ___________ (talk) to the Sales Manager on the phone.

37. We ___________ (not have) any problems so far implementing the innovations.

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TASK 10

Fill the gaps in the following sentences with a linking word or expression from the box. You will not need two of the expressions.

although, because of, but, in order to, nevertheless,

38. A loss leader is an article that is sold cheaply ______ attract the public and make them buy other

things.

39. The price of most kinds of fruit will be high ______ frost damage.

40. The question was very difficult. ______, he managed to answer it.

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Answer sheet Test 1

1. 2. 3. 4. 5. 6. 7. 8. 9.

10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40.

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Test 2

Reading comprehension 1

Sleep deprivation If you lay awake late at night worrying about your finances youre not alone. The credit crunch is taking its toll on sleep habits, with people losing valuable shut-eye every night, according to a new research. Nearly half of people interviewed claim they are getting a worse nights sleep than before, mostly thanks to the economic downturn. Conducted in March in the US, the survey of more than 1,000 people reveals the extent of sleep lost each night across the country as men and women toss and turn worrying about the economic crisis. Twenty-eight percent of people are suffering from at least one hour of less sleep each night than in previous years, with men more badly affected than women. And one in eight people are losing at least two hours more sleep per night than before the credit crunch kicked in. Not surprisingly, the research reveals that money worries are the No. 1 sleep-depriver, cited by 38 percent of those surveyed. Furthermore, Americans are also having restless nights worrying about their families. High up the list of things stopping people from nodding off at night are worries relating to: * Job security (21 percent) * Food bills (16 percent) * Paying mortgage or rent (15 percent) * Cost of heating bills (13 percent) Sleep deprivation has a negative effect on productivity and stress levels. At a time when people are worrying about financial security, most people said that lack of sleep made it hard for them to concentrate, while 31 percent said it was more difficult to focus at work. Worryingly, the effects of sleep loss have been cited as being similar or worse than the effects of drinking alcohol to excess. Twenty percent of people say they are more likely to argue with their partners when they are sleep-deprived, while a few have even admitted to snapping at strangers.

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Fill in the gaps with figures from the article.

The research revealed that

1. ___________ of people slept at least one hour more before than they do now.

2. ___________ of those interviewed said they could not sleep well because they were

worried about being laid off.

3. One in ___________ people said they had more arguments at home.

Find words in the text that correspond with the meanings given below.

4. Very important because there is not much of it

5. Decline; a tendency downward, especially in business or economic activity.

6. The degree to which something happens

7. The money you borrow from a bank to buy a house

8. Influenced in a negative way

9. The quality to be efficient at work

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Reading comprehension 2

Union strike ends

Machinists union members ratified a new contract with The Boeing Co. on Saturday, ending an eight-week strike that cut the airplane maker's profits and stalled jetliner deliveries.

The vote by members of the union, which represents about 27,000 workers at plants in Washington state, Oregon and Kansas, was about 74 percent in favor of the proposal five days after the two sides tentatively agreed to the deal and union leaders recommended its approval.

The workers are expected to return to Boeing's commercial airplane factories, which have been closed since the Sept. 6 walkout, starting Sunday night.

"This contract gives the workers at Boeing an opportunity to share in the extraordinary success this company has achieved over the past several years," Mark Blondin, the union's aerospace coordinator and chief negotiator, said in a union news release.

The union has said the contract protects more than 5,000 factory jobs, prevents the outsourcing of certain positions and preserves health care benefits. It also promises pay increases over four years rather than three, as outlined in earlier offers.

The union members, including electricians, painters, mechanics and other production workers, have lost an average of about $7,000 in base pay since the strike began. They had rejected earlier proposals by the company, headquartered in Chicago.

"We're looking forward to having our team back together to resume the work of building airplanes for our customers," Scott Carson, Boeing Commercial Airplanes president and CEO, said in a statement. "This new contract addresses the union's job security issues while enabling Boeing to retain the flexibility needed to run the business ... and allows us to remain competitive."

The work stoppage was costing the company an estimated $100 million per day in deferred revenue and postponing delivery of its long-awaited 787 jetliner, which has already been delayed three times, and other commercial planes.

The strike came amid surging demand for Boeing's commercial jetliners, which include 737s, 747s, 767s and 777s. Boeing has said its order backlog has swollen to a record $349 billion in value.

It remains unclear how long it would take Boeing's commercial aircraft business to return to pre-strike production levels, but the company's chief financial officer, James Bell, has said Boeing hopes it would take less than two months.

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Decide if the following statements are true or false according to the article.

10. The strike that began on Sept. 6 lasted for about two months.

11. 27,000 workers at Boeing Co. in 3 US states agreed to make an end to the strike.

12. The Machinists Unions strike resulted in a $100 million loss for Boeing.

13. The new contract that has been ratified promises a pay rise for four years for all Boeing

workers.

14. Machinists Union leaders were in favour of the proposals concerning the new contract.

Give short answers to the following questions.

15. 16. Mention 2 negative effects the Machinists Unions strike had on Boeing Co. (a, b)

17. 19. Mention 3 things the union managed to achieve in the new contract ratified with

Boeing. (a, b, c)

20. When will Boeing Co. reach the same production levels it had before the machinists

strike?

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Answer Sheet

Test 2

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15. 16.

a.) b.)

17. 19.

a.) b.) c.)

20.

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Test 3

Writing

n Kalmr Elek / va, a Kisgp Kft. (4025 Debrecen, Alma utca 133) vezetje, amely hztartsi gpek sszeszerelsvel s rtkestsvel foglalkozik. Az Electro Max osztrk cg (Jahngasse 54/b, Graz 8015) janur 10-n megrendelt nktl 50 db stt. A teljests idejt mrcius 10-re jelltk meg. Kzben azonban az nk f alkatrsz beszlltja csdbe ment, gy ez nhny napra megakasztotta a termels menett. Sikerlt msik beszlltt tallniuk, de a megrendelseket csak nhny ht ksssel tudjk teljesteni. rjon levelet az osztrk partner kereskedelmi vezetjnek. Hivatkozzon a megrendelsre

Mondja el, hogy csak nhny hetes ksssel tudjk a megrendelst teljesteni

Foglalja ssze rviden a kss okt

Krjen elnzst a ksedelmes teljests miatt

Amennyiben partnere nem tud vrni, trlheti a megrendelst, de biztostsa, hogy ha tud

mg nhny hetet vrni, mrcius vgre biztosan tudnak szlltani

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Answer sheet Test 3

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Answers Set 1

Test 1

Use of English Grammar and Business Vocabulary

1. warehouse 2. commercial 3. benefit 4. balance 5. wholesale 6. is divided 7. expertise 8. effective 9. suppliers

10. Outdoor advertising 11. Pay rise 12. Market penetration 13. Retirement age 14. invest 15. deer 16. be in the black 17. truck 18. World Trade Organization 19. Ex Works 20. turnover 21. Mr Gregory said he would be showing the German group around when I arrived. 22. We have been selling this product since 2003. 23. All sorts of problems have been caused by inflation. 24. You neednt have waited for the answer to the fax. 25. B. spending 26. B. have spiralled 27. A. had read 28. C. to learn 29. A. which 30. A. to be delivered 31. for 32. for 33. at 34. am going to record 35. has 36. was talking 37. havent had 38. in order to 39. because of 40. Nevertheless

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Test 2

Reading comprehension 1 2

1. 28%

2. 21%

3. 5

4. Valuable

5. Downturn

6. Extent

7. Mortgage

8. Affected

9. Productivity

10. True

11. False

12. False

13. False

14. True

15. 16.

Mention 2 of these possible answers: - cut the airplane maker's profits - stalled jetliner deliveries. - cost the company $100 million per day

17. 19.

Mention 3 of these possible answers: - It protects more than 5,000 factory jobs - It prevents the outsourcing of certain positions. - It preserves health care benefits - It promises pay increases over four years)

20. It is unclear

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Sleep deprivation If you lay awake late at night worrying about your finances youre not alone. The credit crunch is taking its toll on sleep habits, with people losing valuable shut-eye every night, according to a new research. Nearly half of people interviewed claim they are getting a worse nights sleep than before, mostly thanks to the economic downturn. Conducted in March in the US, the survey of more than 1,000 people reveals the extent of sleep lost each night across the country as men and women toss and turn worrying about the economic crisis. Twenty-eight percent of people are suffering from at least one hour of less sleep each night than in previous years, with men more badly affected than women. And one in eight people are losing at least two hours more sleep per night than before the credit crunch kicked in. Not surprisingly, the research reveals that money worries are the No. 1 sleep-depriver, cited by 38 percent of those surveyed. Furthermore, Americans are also having restless nights worrying about their families. High up the list of things stopping people from nodding off at night are worries relating to: * Job security (21 percent) * Food bills (16 percent) * Paying mortgage or rent (15 percent) * Cost of heating bills (13 percent) Sleep deprivation has a negative effect on productivity and stress levels. At a time when people are worrying about financial security, most people said that lack of sleep made it hard for them to concentrate, while 31 percent said it was more difficult to focus at work. Worryingly, the effects of sleep loss have been cited as being similar or worse than the effects of drinking alcohol to excess. Twenty percent of people say they are more likely to argue with their partners when they are sleep-deprived, while a few have even admitted to snapping at strangers.

20

Union strike ends

Machinists union members ratified a new contract with The Boeing Co. on Saturday, ending an eight-week strike that cut the airplane maker's profits and stalled jetliner deliveries.

The vote by members of the union, which represents about 27,000 workers at plants in Washington state, Oregon and Kansas, was about 74 percent in favor of the proposal five days after the two sides tentatively agreed to the deal and union leaders recommended its approval.

The workers are expected to return to Boeing's commercial airplane factories, which have been closed since the Sept. 6 walkout, starting Sunday night.

"This contract gives the workers at Boeing an opportunity to share in the extraordinary success this company has achieved over the past several years," Mark Blondin, the union's aerospace coordinator and chief negotiator, said in a union news release.

The union has said the contract protects more than 5,000 factory jobs, prevents the outsourcing of certain positions and preserves health care benefits. It also promises pay increases over four years rather than three, as outlined in earlier offers.

The union members, including electricians, painters, mechanics and other production workers, have lost an average of about $7,000 in base pay since the strike began. They had rejected earlier proposals by the company, headquartered in Chicago.

"We're looking forward to having our team back together to resume the work of building airplanes for our customers," Scott Carson, Boeing Commercial Airplanes president and CEO, said in a statement. "This new contract addresses the union's job security issues while enabling Boeing to retain the flexibility needed to run the business ... and allows us to remain competitive."

The work stoppage was costing the company an estimated $100 million per day in deferred revenue and postponing delivery of its long-awaited 787 jetliner, which has already been delayed three times, and other commercial planes.

The strike came amid surging demand for Boeing's commercial jetliners, which include 737s, 747s, 767s and 777s. Boeing has said its order backlog has swollen to a record $349 billion in value.

It remains unclear how long it would take Boeing's commercial aircraft business to return to pre-strike production levels, but the company's chief financial officer, James Bell, has said Boeing hopes it would take less than two months.

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Test 3

Writing

Kisgp Kft. 133 Alma utca Debrecen 4025

Electro Max Jahngasse 54/b Graz 8015 Austria Attn.:Mr. Johann Kraus 1 March 2011 Dear Mr. Kraus I am writing to you in reference to your order No. MO 125867, which you placed with our company on 10 January. We gave you the delivery time of 10 March because at that time we were confident that we would be able to deliver the 50 ovens you had ordered within a month. Since then some unforeseen circumstances have arisen. We have been informed that our main supplier has gone bankrupt. It has held up our production for some days. We have found an alternative supplier who can provide us with the spare parts necessary for the assembly of the ovens. We expect that we will back to normal production next week and will be able to complete all our outstanding orders with an estimated two weeks delay in delivery. Let me say how much I regret this unfortunate situation. We will understand if you wish to cancel your order, but let me emphasize once again that we should be able to fulfil our outstanding commitments by the end of March. Please, let me know if you wish us to complete your order or whether you would prefer to cancel it. I apologize for the inconvenience this delay in delivery might cause. Yours sincerely, Elek / va Kalmr Managing Director

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SET 2 Test 1

Use of English Grammar and Business English Vocabulary

TASK 1

Match the expressions with the business definition. There are TWO extra expressions which you do not need to use. agreement bill of lading freight headquarters staff stock house terms

1. a companys principal or main office or centre of control 2. an arrangement between two or more people, countries etc 3. conditions or stipulations 4. the people who work for a firm or a particular department 5. list of goods and shipping instructions

TASK 2

Complete each sentence with the correct form of the word in capital letters. 6. COMPETE ANC Ltd. is one of our main _____ . 7. INVEST Mr York did a brilliant presentation on _____ strategies. 8. ANALYZE We need to carry out a detailed _____ of consumer trends. 9. AWARE At the meeting we came to the conclusion that we have to improve our brand name _____ .

TASK 3

Which of the two words on the left form partnership with the word on the right? 10. Dress code Clothing

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11. Goods range Product 12. Recruitment turnover Staff 13. Global trade Earth

TASK 4

Which is the odd word out in each line? 14. share invoice bond deposit account 15. fine wages salary bonus 16. wealthy affluent prosperous broke 17. warehouse factory stores inventory TASK 5

What do the following abbreviations stand for? 18. VAT 19. IMF 20. GDP TASK 6

Complete each sentence so that it means the same as the one before it. 21. They will organize customs formalities. Customs formalities ... 22. Do you know what price-matching is? she asked. She asked 23. On a seller's market there are more buyers than suppliers. On a sellers market there arent 24. I was exhausted but I agreed to work overtime. I agreed to work overtime despite

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TASK 7

Choose the best alternative. 25. What _____ if you were unemployed? A) will you do B) would you do C) would you have done D) did you do 26. A unique selling point is a characteristic of a product which will persuade people _____ it. A) to buy B) buy C) buying D) to buying 27. Luncheon vouchers _____ by employers to employees to buy meals in some restaurants. A) give B) have given C) gave D) are given 28. In an open market a country allows companies from other countries _____ business there A) doing B) to do C) make D) to making 29. The company hasnt made a profit this year. Therefore, the manager _____. A) will fired B) is going to fire C) will be fire D) is going to be fired 30. I sent them our catalogue two weeks ago so they _____ it by now. A) must have received B) might received C) cant receive D) could be receiving TASK 8

Fill in the following sentences with the correct article a, an, the or nothing ().

31. Make sure you put your name at _____ end of the report.

32. They have received billions of dollars from _____ World Bank.

33. I'm sure it won't be long before people are living and working in _____ space.

TASK 9

Use the correct form of the verbs in brackets to complete the following sentences.

34. Dont call me at one oclock in the afternoon, I _____ (have) lunch with a client.

35. I have an important letter to write so I _____ (go) in to the office early tomorrow morning.

36. Donald Trump is a business magnate. He _____ (own) many hotels, casinos, companies and

60% of The Empire State Building.

37. How long _____ you _____ (work) on that sales report?

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TASK 10

Fill the gaps in the following sentences with a linking word or expression from the box. You will not need two of the expressions.

despite however in case moreover so

38. Costs have fallen _____ we can afford to reduce our prices.

39. Please, take your laptop _____ mine doesnt work.

40. Personally, I think this is a good suggestion. _____ , I dont think the management will accept it.

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Answer sheet Test 1

1. 2. 3. 4. 5. 6. 7. 8. 9.

10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40.

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Test 2

Reading comprehension 1

Joining the euro

Sharing a currency but not a governmentthe hybrid arrangement for the 15 countries that use the euromay look less than ideal in times of turmoil. But from the outside, the single currency looks like an increasingly attractive shelter.

Even solid ex-communist countries such as Poland want to speed up their preparations to meet the conditions for joining the common currency. And rich EU members that stayed out by choice, Sweden and Denmark, are thinking again. Joining the euro, at least in some eyes, means a loss of national identity. It also means governments cannot devalue or change interest rates to suit economic needs. During the sunny financial weather of the past years, that seemed to argue for staying out. The balance of the argument is now changing.

Denmark twice raised interest rates in October to help protect its currency, the krone, which is pegged closely to the euro. Swedens krona fell to a record low against the euro in October as the central bank there cut interest rates in the hope of fending off a recession. The Danish prime minister, Anders Fogh Rasmussen, says that being outside the euro zone during the financial crisis is detrimental to the economy, and he wants a referendum by 2011. Even in non-EU countries, such as Iceland, adopting the euro is now a hot topic.

In eastern Europe, meanwhile, Slovenia has already adopted the euro and Slovakia will do so by the end of the year. But no other country looks close. Standard & Poors this week cut Romanias credit rating to junk status, blaming politicians irresponsibility about public-sector wage increases. Poland, ambitiously, says it wants to meet the criteria and set a fixed rate for the zloty against the euro in 2011.

To join the euro, countries are required to have inflation and budget deficits at sustainably low levels (low is an average based on other countries performance). In past years, eastern European countries have missed that because roaring growth pushed up prices. The prospect of euro membership in three years time is unlikely to calm panicky financial markets now. That requires, at a minimum, large quantities of cashas seen in this weeks bail-out of Hungary This week the European Union said it would raise its own rescue fund from 12 billion ($15 billion) perhaps to 25 billion. Yet even with such outside help, running an independent currency is beginning to look too risky for all but the biggest economies.

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Decide if the following statements are true (T) or false (F) according to the article.

1. Poland, Denmark and Sweden are hesitating whether to join the euro or not.

2. According to Standard & Poors Romanian politicians are mainly responsible for the

unfavourable economic situation in Romania.

3. In order to protect their economies Denmark and Sweden decided to raise the interest rates.

4. Mr Rasmussen believes it would be beneficial for Denmark to adopt the common currency

of the EU.

5. For the European economies it seems very risky to have a common currency.

Give short answers to the following questions.

6. 8. According to some financial experts, what are some of the negative aspects of joining

the euro zone? (a, b, c)

9. Why can the EU be considered a hybrid arrangement for the countries in the euro zone?

10. Why would it be a special case if Iceland could join the common currency?

11. What happened to the Swedish national currency after the Swedish Central Bank had

lowered interest rates?

12. What requirement must a country fulfil to be able to join the euro?

29

Reading comprehension 2

Benefit from new banking services Life is hectic enough and in these economic times, its all the more important to carefully manage your money in a way that fits into your lifestyle. Utilizing tools that offer easy access to and constant control of your cash can save you valuable time and hassle. The first thing to consider is that today, banks are enabling you to manage your finances on the go. Tools like mobile banking, online banking, and your local ATM simply make doing the hard stuff a little bit easier by giving you more control, convenience and choice. If you know youre going to be a road warrior for the next few months or simply decide to go green, sign up for bill pay and e-Bills through your bank. Utilizing e-Bills means that you dont have to wait for the bill to come to you and instead, can pay all your bills online at once. Bill pay takes it one step further and gives you extra control, says Laurie Readhead, Bank of America executive. By allowing you to set a schedule to pay any amount, bill pay can help you to avoid fees and simplify your life by knowing your bills will be paid on time. Keep yourself, your credentials and personal information secure. Always look for extra protection to provide you with peace of mind like Bank of America's SiteKey -- an award winning online security sign-in feature that helps customers deter fraud. If Bank of America doesn't recognize the computer you're using, you will also be asked challenge questions to ensure only you can access your account. If youre an online shopper, use ShopSafe -- another security feature that customers can log into to create a unique, temporary credit card number, eliminating the need to expose your real credit card number to online merchants. Be sure to keep your computer up to date with anti-virus software, and before typing in account or credit card information on a Web site, make sure the site is trusted and secure. Stay current on your financial transactions by taking advantage of your bank's alerts, which can often be forwarded to your cell phone. Alerts can help you recognize any fraudulent activity on your account and can help you to avoid overdraft fees. Alerts also help you monitor your account balance to help decide if its the right time for that last minute purchase. To keep life simple and stay in control of your finances you can sign up for alerts that inform you when your account balance falls below a certain threshold. Make sure your financial life fits seamlessly into your everyday routine through your banks mobile banking service. Check your balances and transactions, pay bills, transfer money, locate ATMs and more. Utilizing this convenient banking tool gives you immediate access to your finances through your mobile phone -- its just like having a bank branch in your pocket. And in todays unpredictable economic environment, it has never been more important to have control of your money whenever, wherever you need it. Look for added value in your banking relationships that give you money back on things that are meaningful to your life. Use tools such as Bank of Americas online shopping portal, Add It Up, where online banking customers can earn up to 20 percent cash back on purchases from more than 300 online retailers. Add It Up also allows you to shop on your time from your home. Be sure to also monitor your accounts daily to see how much money you are spending and saving. By keeping current on your budget and checking your accounts online, you may discover areas where spending can be cut back.

30

Find words in the text that correspond with the meanings given below. .

13. people or companies that sell goods in small quantities directly to the public

14. the act of spending more money than the amount you have left in your bank account

15. limit

16. the local division of a bank

Choose the best answer to each question according to the article. 17. Using electronic banking

A. can save time and money B. is less efficient C. is more time-consuming D. is not a good idea

18. If you sign up for e-Bills,

A. you do something to help protect the environment B. your bank will send you a paper bank statement later C. you will have less control over your budget D. you can avoid fees even if you pay your bills late

19. Bank of America offers various mobile banking and online banking services such as

A. anti-virus software to your mobile phone B. SiteKey, a tool you can use when buying goods online C. sending you credit card numbers in SMS D. alerts sent to your mobile to deter fraud

20. Add It Up

A. offers all sorts of products at reduced prices B. gives you the possibility to shop at any time of the day C. is available to any US citizen without restrictions D. is a portal offering 300 different products

31

Answer sheet

Test 2

1.

2.

3.

4.

5.

6. - 8.

a.) b.)

9.

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

32

Test 3

Writing

n Kovcs Katalin / Kroly, Sportruhzat Kft. (1199 Bp., Kossuth utca 224.) kereskedelmi vezetje. Mlt hten az n cge a Szabadid s Sport Killtson vett rszt, ahol standjukon bemutattk legjabb sportruhzati termkeiket. Ott tallkozott Jan Mostowicz rral, aki egy lengyel cg kpviseletben rdekldtt az n cge irnt. rjon levelet a lengyel cgnek. Ksznje meg, hogy elltogattak az nk standjhoz a killtson

Nhny szban mutassa be cgt s annak f profiljt, termkeit.

Mondja el, hogy jelenleg is exportlnak tbb Kelet-Eurpai orszgba, s most szeretnnek

megjelenni a lengyelorszgi piacon is.

rja le, hogy olyan lengyel partnercget keresnek, amely az egsz lengyel piacot kpes

lefedni.

Mondja el, hogy milyen felttelekkel szeretnnek egyttmkdni.

33

Answer sheet Test 3

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34

Answers Set 2

Test 1

Use of English Grammar and Business Vocabulary

1. headquarters 2. agreement 3. terms 4. staff 5. bill of lading 6. competitors 7. investment 8. analysis 9. awareness 10. Dress code 11. Product range 12. Staff turnover 13. Global trade 14. invoice 15. fine 16. broke 17. factory 18. Value added tax 19. International Monetary Fund 20. Gross domestic product 21. Customs formalities will be organized by them. 22. She asked if I knew what price-matching was. 23. On a sellers market there arent as many suppliers as buyers. 24. I agreed to work overtime despite being exhausted. 25. B) would you do 26. A) to buy 27. D) are given 28. B) to do 29. D) is going to be fired 30. A) must have received 31. the 32. the 33. 34. will be having 35. am going (to go) 36. owns 37. have you been working 38. so 39. in case 40. However

35

Test 2

Reading comprehension 1 - 2

1. False

2. True

3. False

4. True

5. False

6. - 8. - Loss of national identity - Government cannot devalue - Government cannot change interest rates

9. Shared currency but not government

10. Its a non-EU country

11. Krone fell to record low against the Euro

12. To have inflation and budget deficits at sustainably low levels

13. retailers

14. overdraft

15. threshold

16. (bank) branch

17. A - can save time and money

18. A - you do something to help protect the environment

19. D - alerts sent to your mobile to deter fraud

20. B - gives you the possibility to shop at any time of the day

36

Joining the euro

Sharing a currency but not a governmentthe hybrid arrangement for the 15 countries that use the euromay look less than ideal in times of turmoil. But from the outside, the single currency looks like an increasingly attractive shelter.

Even solid ex-communist countries such as Poland want to speed up their preparations to meet the conditions for joining the common currency. And rich EU members that stayed out by choice, Sweden and Denmark, are thinking again. Joining the euro, at least in some eyes, means a loss of national identity. It also means governments cannot devalue or change interest rates to suit economic needs. During the sunny financial weather of the past years, that seemed to argue for staying out. The balance of the argument is now changing.

Denmark twice raised interest rates in October to help protect its currency, the krone, which is pegged closely to the euro. Swedens krona fell to a record low against the euro in October as the central bank there cut interest rates in the hope of fending off a recession. The Danish prime minister, Anders Fogh Rasmussen, says that being outside the euro zone during the financial crisis is detrimental to the economy, and he wants a referendum by 2011. Even in non-EU countries, such as Iceland, adopting the euro is now a hot topic.

In eastern Europe, meanwhile, Slovenia has already adopted the euro and Slovakia will do so by the end of the year. But no other country looks close. Standard & Poors this week cut Romanias credit rating to junk status, blaming politicians irresponsibility about public-sector wage increases. Poland, ambitiously, says it wants to meet the criteria and set a fixed rate for the zloty against the euro in 2011..

To join the euro, countries are required to have inflation and budget deficits at sustainably low levels (low is an average based on other countries performance). In past years, eastern European countries have missed that because roaring growth pushed up prices. The prospect of euro membership in three years time is unlikely to calm panicky financial markets now. That requires, at a minimum, large quantities of cashas seen in this weeks bail-out of Hungary This week the European Union said it would raise its own rescue fund from 12 billion ($15 billion) perhaps to 25 billion. Yet even with such outside help, running an independent currency is beginning to look too risky for all but the biggest economies.

37

Benefit from new banking services Life is hectic enough and in these economic times, its all the more important to carefully manage your money in a way that fits into your lifestyle. Utilizing tools that offer easy access to and constant control of your cash can save you valuable time and hassle. The first thing to consider is that today, banks are enabling you to manage your finances on the go. Tools like mobile banking, online banking, and your local ATM simply make doing the hard stuff a little bit easier by giving you more control, convenience and choice. If you know youre going to be a road warrior for the next few months or simply decide to go green, sign up for bill pay and e-Bills through your bank. Utilizing e-Bills means that you dont have to wait for the bill to come to you and instead, can pay all your bills online at once. Bill pay takes it one step further and gives you extra control, says Laurie Readhead, Bank of America executive. By allowing you to set a schedule to pay any amount, bill pay can help you to avoid fees and simplify your life by knowing your bills will be paid on time. Keep yourself, your credentials and personal information secure. Always look for extra protection to provide you with peace of mind like Bank of America's SiteKey -- an award winning online security sign-in feature that helps customers deter fraud. If Bank of America doesn't recognize the computer you're using, you will also be asked challenge questions to ensure only you can access your account. If youre an online shopper, use ShopSafe -- another security feature that customers can log into to create a unique, temporary credit card number, eliminating the need to expose your real credit card number to online merchants. Be sure to keep your computer up to date with anti-virus software, and before typing in account or credit card information on a Web site, make sure the site is trusted and secure. Stay current on your financial transactions by taking advantage of your bank's alerts, which can often be forwarded to your cell phone. Alerts can help you recognize any fraudulent activity on your account and can help you to avoid overdraft fees. Alerts also help you monitor your account balance to help decide if its the right time for that last minute purchase. To keep life simple and stay in control of your finances you can sign up for alerts that inform you when your account balance falls below a certain threshold. Make sure your financial life fits seamlessly into your everyday routine through your banks mobile banking service. Check your balances and transactions, pay bills, transfer money, locate ATMs and more. Utilizing this convenient banking tool gives you immediate access to your finances through your mobile phone -- its just like having a bank branch in your pocket. And in todays unpredictable economic environment, it has never been more important to have control of your money whenever, wherever you need it. Look for added value in your banking relationships that give you money back on things that are meaningful to your life. Use tools such as Bank of Americas online shopping portal, Add It Up, where online banking customers can earn up to 20 percent cash back on purchases from more than 300 online retailers. Add It Up also allows you to shop on your time from your home. Be sure to also monitor your accounts daily to see how much money you are spending and saving. By keeping current on your budget and checking your accounts online, you may discover areas where spending can be cut back.

38

Test 3

Writing

Sportruhzat Kft. 224 Kossuth utca Budapest 1199 Hungary Zabawa Ltd. 115 Ulica Rzeka Warsaw 01-463 Poland 30 March 2012 Dear Sirs, Thank you for visiting our stand at the Leisure and Sports Trade Fair last week. We were very pleased that our products displayed on our stand raised your interest. As your representative, Mr Jan Mostowicz, informed us at the fair, your company might be interested in acting as our agent in your country. We are a manufacturer of high quality sportswear. I enclosed our current catalogue and price list from which you will see that we offer a wide range of products from moderately priced garments to specially designed garments for professional athletes. We already export to Slovakia, the Czech Republic and Romania and now we would like to expand into Polish market. The market research that we had previously carried out to discover the market potential in Poland shows that there is an increasing demand for high quality sportswear in your country. We are currently looking for an agent that will be able to cover the whole of Poland. If we manage to establish business cooperation with you, we can offer you a 15% commission on net list prices. In addition, we will provide advertising support, if necessary. We feel that this is a unique opportunity to start in an expanding market. If you believe that you could successfully act as our agent in Poland and develop this market, please let us know as soon as possible. We look forward to hearing from you. Yours faithfully, Katalin / Kroly Kovcs Export Manager

39

SET 3

Test 1

Use of English Grammar and Business English Vocabulary

TASK 1

Match the expressions with the business definition. There are TWO extra expressions which you do not need to use. account customs dismiss overdraft policy retire standing order

1. to remove or discharge from employment 2. an instruction to a bank to make regular payments 3. deficit in a bank account caused by withdrawing more money than is paid in 4. government tax or duty on imported goods 5. a contract of insurance

TASK 2

Complete each sentence with the correct form of the word in capital letters. 6. EMPLOY I have to share my office room with two other _____ . 7. PROMOTION She was one of the top performers, so she _____ last month. 8. CORRUPT Unfortunately, there is a lot of _____ in that country. 9. CONSIDER The news of the merger have caused _____ alarm on Wall Street.

TASK 3

Which of the two words on the left form partnership with the word on the right? 10. Advertising campaign Market

40

11. Commercial figures Sales 12. Trading partner Commerce 13. After-sales service After-selling

TASK 4

Which is the odd word out in each line?

14. deteriorate improve worsen decline 15. process benefit procedure method 16. edge border margin balance 17. acquire gain obtain presume

TASK 5

What do the following abbreviations stand for?

18. FOB 19. D/A 20. Ltd.

TASK 6

Complete each sentence so that it means the same as the one before it. 21. It wasnt necessary to send them the samples. Theyve already got them. You need ... 22. The management has accepted the Sales Managers suggestions. The Sales Managers suggestions ... 23. I didnt know about the meeting, thats why I didnt go. If I ... 24. We had to cancel the business trip because the weather conditions were bad. We had to cancel the business trip due ...

41

TASK 7

Choose the best alternative. 25. The Embassy refused _____ me the cell phone number of the Ambassador. A) say B) telling C) to saying D) to tell 26. I _____ hard and I dont mind it. A) am used to working B) use to work C) used to work D) am used to work 27. Ill inform him about the promotion as soon as I _____ him. A) am going to see B) will see C) see D) will be seeing 28. The customer asked the shop assistant what the price of the product _____ . A) were B) is C) was D) has 29. This photocopier is useless. Its the fifth time it _____ . A) is breaking down B) breaks down C) has broken down D) broke down 30. His assistant works much _____ than Mr Smith. A) harder B) more hard C) hardlier D) more hardly TASK 8

Fill in the following sentences with suitable prepositions.

31. Im in charge ______ the marketing department.

32. What I really like ______ my job is its financial aspect.

33. Our share of the domestic market stayed the same ______ 48%.

TASK 9

Use the correct form of the verbs in brackets to complete the following sentences.

34. You _____ (read) a magazine during the presentation, thats why you dont remember

what it was about.

35. Coffee beans _____ (pick) on plantations.

36. He _____ (sell) computer software since 1998.

37. Ms Green wrote an e-mail to her boss and then _____ (go) home.

42

TASK 10

Fill the gaps in the following sentences with a linking word or expression from the box. You will not need two of the expressions.

consequently due to during unless while

38. Please, wait _____ I make a phone call.

39. His performance was above average. _____ , the management decided to promote him.

40. Nobody will buy that product _____ they reduce the price.

43

Answer sheet Test 1

1. 2. 3. 4. 5. 6. 7. 8. 9.

10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40.

44

Test 2

Reading comprehension 1

IMF bailout in 2008

Time was when a bail-out by the International Monetary Fund was a uniformly horrid experience. Cold-eyed, sharp-suited men pored over your countrys books, demanding painful structural reforms and bone-chilling fiscal stringency. Faced with the current turmoil in emerging markets, the fund now seems more like a generous uncle.

Well-run countries now have fewer hoops to jump through to gain IMF money. On October 29th the fund announced the creation of a new short-term liquidity facility for the soundest emerging markets. The facility will disburse three-month loans to countries with good policies and manageable debts without attaching any of its usual conditions. The Federal Reserve added its considerable firepower to the rescue effort, announcing the establishment of $30 billion swap lines with each of the central banks of Brazil, Mexico, South Korea and Singapore.

The funds traditional lending also comes with fewer strings attached. The IMF-led $25.1 billion bail-out of Hungary on October 28th was fast, light and big, in the words of one person involved. The rescue came just days after the fund agreed on a $16.5 billion package to shore up Ukraines collapsing economy, a prospect which seems to be unblocking the countrys wretchedly deadlocked politics. It is also standing by to help Pakistan.

The huge international support package for Hungary is a shocking turn of fortune for eastern Europe, a region that has enjoyed growth and stability for a decade. But a toxic combination of external debt and collapsing confidence left the economy floundering. Even spending cuts, tax increases, a 5 billion ($6.7 billion) loan from the European Central Bank and a sharp rise in interest rates, from 8.5% to 11.5%, had failed to calm the markets.

The fund had tried to get the governments of Germany, Italy and Austria on board for the rescue. Their banks are most exposed to Hungarian borrowers (thanks to eager lending in euros and Swiss francs). Austria was willing to take part; Germany was not. So the IMF has put up $15.7 billion (to be agreed on at an IMF board meeting shortly), the European Union has added $8.1 billion, and the World Bank a further $1.3 billion. In return, all Hungary has to do is pass a law on fiscal responsibility that is already before parliament.

45

Fill in the gaps with figures from the text.

1. In October the interest rates were increased by _____ per cent in Hungary.

2. The IMF agreed to give Hungary a short-term loan of $ _____ .

3. The World Bank added $ _____ to the bail-out of Hungary.

Give short answers to the following questions.

4. 5. What are some of the demands the IMF used to impose on countries when giving

financial aid? (a, b)

6. Why did the IMF create a new liquidity facility in October 2008?

7. 8. What are the criteria now to give a loan to a country from the newly created liquidity

facility? (a, b)

9. Why did the IMF give financial support to Ukraine in October 2008?

10. According to the article, why was it a surprise that Hungary turned to the IMF for financial

aid?

11. 13. Before asking for an IMF loan, what internal measures did the Hungarian

government try to impose to rescue the Hungarian economy? (a, b, c)

46

Reading comprehension 2

How small businesses can stay afloat Whether you shop at a local small business in your neighborhood, are a small business owner yourself, or are thinking about starting a small business, everyone in the country is impacted by Americas small business economy. Small businesses continue to be the heartbeat of America, representing 99.7 percent of all employer firms and generating 60 to 80 percent of new jobs over the past decade, according to the U.S. Small Business Administration. While many think that small businesses have been hit harder than the average consumer in the current economic environment, small businesses are often credited as the sector that will likely lead us out of the current Great Recession. To remain successful in todays economy, its critical for small business owners to reduce expenses and better manage their day-to-day work. Here are some tips from Rieva Lesonsky, a small business expert. "Everyone has heard the phrase 'cash is king,' but for today's small business owners, I recommend adopting the mantra, 'smart cash flow is king,'" says Lesonsky. Maximizing your earnings potential on idle cash balances is a smart way to get the most out of your cash flow. Small business owners can do this by placing funds in money market savings or short-term CD accounts. Interest earned on money sitting idle will always benefit your business in the long run. For many small business owners, this is the first time they are navigating their business through this type of economy. Its important to remember that its okay to ask for help. Asking for advice and information from peers who may have experienced a similar situation is a great way to strengthen your business. There are also free forums out there for small business owners to obtain expert advice and gain access to additional information they might need for their business. The current economic environment has brought with it many discount opportunities. Many vendors are offering deals right now, making it a good time to invest in new technologies and equipment for your business. Investing in your business now will ensure that when the economy turns around, you are prepared to take advantage of any and all growth opportunities. As a small business owner, you need to focus your time on innovation and business growth. This means remembering to delegate other office work like staying on top of invoices and collecting on receivables to a trusted employee or service, says Lesonsky. There are many tools available to help small business owners be more efficient and make managing your companys money easier and less time consuming. For example, electronic banking services give business owners the ability to invoice customers, receive payments and pay vendors and employees electronically. Electronic payroll for employees instantly calculates federal, state, local and voluntary withholdings, with 100 percent accuracy guaranteed so you dont have to worry about making these deductions manually.

47

Choose the best answer according to the information in the article. 14. Small businesses...

A. are believed to disappear in the long run B. are in a better situation than the average consumer C. do not play an important role in the US economy D. need to cut down on their expenditures

15. One positive point about the recession is that small businesses can...

A. buy new technology more cheaply B. hire new staff C. make more profit than before D. afford to provide discount opportunities

16. Small business owners...

A. should postpone spending on new office equipment B. have to find ways to manage their office work better C. have wide experience in navigating their businesses through recession D. should not trust their employees

17. Mr. Lesonsky believes that...

A. it is very hard for small businesses to optimize efficiency B. delegation and outsourcing are a good idea C. information from peers cannot be trusted D. small businesses should invest all their earnings on the money market

Decide if the following sentences are true (T) or false (F) according to the article.

18. It is believed that the small business sector is the key sector to help the US economy

recover from the recession.

19. Small business owners always have to pay financial experts for professional advice.

20. Electronic payroll saves small business owners valuable time.

48

Answer sheet

Test 2

1.

2.

3.

4. 5.

a.) b.)

6.

7. 8.

a.) b.)

9.

10.

11. 13.

a.) b.) c.)

14.

15.

16.

17.

18.

19.

20.

49

Test 3

Writing

n Eld / Emese Vlgyes a Dreamland Btor Kft. (6722 Szeged, F utca 125) kereskedelmi vezetje. Mlt hten Londonban elltogatott a Furniture Fair szakkilltsra. Ott tallkozott a Century Design Ltd. (78 Oak Road, Oxford, OX10 9BD) egyedi tervezs btorokat gyrt cg termkeivel. rjon levelet az angol cgnek ksbbi zleti kapcsolat remnyben. Mondja el, mennyire megnyerte az nk tetszst az angol cg modern btorknlata

Rviden mutassa be cgt: btorbolt hlzatuk van Magyarorszgon s ms Kelet-eurpai

orszgokban, f vsrlik az jdonsgokat kedvel fiatalok, akik mind irodjukba, mind

otthonukba vsrolnak nktl btort.

Olyan beszlltkat keresnek, akik a legjabb trend szerinti, modern btorokat gyrtanak.

rja le, hogy milyen felttelekben szoktak ltalban a beszlltikkal megllapodni

Amennyiben az angol cget rdekli az egyttmkds, krjen tlk katalgust s rlistt.

50

Answer sheet Test 3

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51

Answers Set 3

Test 1

Use of English Grammar and Business English Vocabulary

1. dismiss 2. standing order 3. overdraft 4. customs 5. policy 6. employees 7. was promoted 8. corruption 9. considerable 10. Advertising campaign 11. Sales figures 12. Trading partner 13. After-sales service 14. improve 15. benefit 16. balance 17. presume 18. Free on board 19. Deposit account 20. Limited 21. You neednt have sent them the samples. 22. The Sales Managers suggestions have been accepted by the management. 23. If I had known about the meeting, I would have gone. 24. We had to cancel the business trip due to the bad weather conditions. 25. D) to tell 26. A) am used to working 27. C) see 28. C) was 29. C) has broken down 30. A) harder 31. of 32. about 33. at 34. were reading 35. are picked 36. has been selling 37. went 38. while 39. Consequently 40. unless

52

Test 2

Reading comprehension 1 - 2

1. 3 %

2. $ 15.7 billion

3. $ 1.3 billion

4. 5. - structural reforms - fiscal stringency.

6. Because of a turmoil in emerging markets

7. 8. - Countries must have good policies - and have manageable debts 9. to shore up Ukraines collapsing economy

10. Eastern Europe enjoyed growth and stability before

11. 13. - spending cuts - tax increases - sharp rise in interest rates

14. D - need to cut down on their expenditures

15. A - buy new technology more cheaply

16. B - have to find ways to manage their office work better

17. B - delegation and outsourcing are a good idea

18. True

19. False

20. True

53

IMF bailout in 2008

TIME was when a bail-out by the International Monetary Fund was a uniformly horrid experience. Cold-eyed, sharp-suited men pored over your countrys books, demanding painful structural reforms and bone-chilling fiscal stringency. Faced with the current turmoil in emerging markets, the fund now seems more like a generous uncle.

Well-run countries now have fewer hoops to jump through to gain IMF money. On October 29th the fund announced the creation of a new short-term liquidity facility for the soundest emerging markets. The facility will disburse three-month loans to countries with good policies and manageable debts without attaching any of its usual conditions. The Federal Reserve added its considerable firepower to the rescue effort, announcing the establishment of $30 billion swap lines with each of the central banks of Brazil, Mexico, South Korea and Singapore.

The funds traditional lending also comes with fewer strings attached. The IMF-led $25.1 billion bail-out of Hungary on October 28th was fast, light and big, in the words of one person involved. The rescue came just days after the fund agreed on a $16.5 billion package to shore up Ukraines collapsing economy, a prospect which seems to be unblocking the countrys wretchedly deadlocked politics. It is also standing by to help Pakistan.

The huge international support package for Hungary is a shocking turn of fortune for eastern Europe, a region that has enjoyed growth and stability for a decade. But a toxic combination of external debt and collapsing confidence left the economy floundering. Even spending cuts, tax increases, a 5 billion ($6.7 billion) loan from the European Central Bank and a sharp rise in interest rates, from 8.5% to 11.5%, had failed to calm the markets.

The fund had tried to get the governments of Germany, Italy and Austria on board for the rescue. Their banks are most exposed to Hungarian borrowers (thanks to eager lending in euros and Swiss francs). Austria was willing to take part; Germany was not. So the IMF has put up $15.7 billion (to be agreed on at an IMF board meeting shortly), the European Union has added $8.1 billion, and the World Bank a further $1.3 billion. In return, all Hungary has to do is pass a law on fiscal responsibility that is already before parliament.

54

Reading comprehension 2

How small businesses can stay afloat Whether you shop at a local small business in your neighborhood, are a small business owner yourself, or are thinking about starting a small business, everyone in the country is impacted by Americas small business economy. Small businesses continue to be the heartbeat of America, representing 99.7 percent of all employer firms and generating 60 to 80 percent of new jobs over the past decade, according to the U.S. Small Business Administration. While many think that small businesses have been hit harder than the average consumer in the current economic environment, small businesses are often credited as the sector that will likely lead us out of the current Great Recession. To remain successful in todays economy, its critical for small business owners to reduce expenses and better manage their day-to-day work. Here are some tips from Rieva Lesonsky, a small business expert. "Everyone has heard the phrase 'cash is king,' but for today's small business owners, I recommend adopting the mantra, 'smart cash flow is king,'" says Lesonsky. Maximizing your earnings potential on idle cash balances is a smart way to get the most out of your cash flow. Small business owners can do this by placing funds in money market savings or short-term CD accounts. Interest earned on money sitting idle will always benefit your business in the long run. For many small business owners, this is the first time they are navigating their business through this type of economy. Its important to remember that its okay to ask for help. Asking for advice and information from peers who may have experienced a similar situation is a great way to strengthen your business. There are also free forums out there for small business owners to obtain expert advice and gain access to additional information they might need for their business. The current economic environment has brought with it many discount opportunities. Many vendors are offering deals right now, making it a good time to invest in new technologies and equipment for your business. Investing in your business now will ensure that when the economy turns around, you are prepared to take advantage of any and all growth opportunities. As a small business owner, you need to focus your time on innovation and business growth. This means remembering to delegate other office work like staying on top of invoices and collecting on receivables to a trusted employee or service, says Lesonsky. There are many tools available to help small business owners be more efficient and make managing your companys money easier and less time consuming. For example, electronic banking services give business owners the ability to invoice customers, receive payments and pay vendors and employees electronically. Electronic payroll for employees instantly calculates federal, state, local and voluntary withholdings, with 100 percent accuracy guaranteed so you dont have to worry about making these deductions manually.

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Test 3

Writing Dreamland Btor Kft. 125 F utca Szeged 6722 Hungary Century Design Ltd. 78 Oak Road Oxford, OX10 9BD 24 June 2010 Dear Sirs I am writing in regard to our discussion at the 21st Century Furniture Fair in London last week. First, let me tell you once again how impressed we were by your new designs displayed on your stand. Now I would like to confirm the main points of our discussion. We are a chain of retailers that sell furniture all over Hungary and in Eastern European countries. Most of customers are young people who seek fresh and revolutionary designs in the furniture market and buy pieces of furniture both in to their offices and homes. That is why we continuously look for manufacturers who follow the latest trends and can supply our shop with new style furniture. We were amazed by your innovative ideas at the fair and believe that your products could fit into our existing range of products for sale. As we usually place orders in large quantities, we expect a quantity discount in addition to a 10% trade discount off net list price. Our terms of payment are normally 60-day bill of exchange, D/A. If these conditions are acceptable for you and you can meet orders of over 50 pieces of furniture at one time, please send us your latest catalogue of furniture and your current price list. We are looking forward to doing business with you. Yours faithfully, Eld / Emese Vlgyes Sales Director

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SET 4

Test 1

Use of English Grammar and Business English Vocabulary

TASK 1

Match the expressions with the business definition. There are TWO extra expressions which you do not need to use.

cash currency discount freight hire purchase mail order sales

1. a way of buying goods in which you choose what you want, usually from a catalogue 2. the buyer pays part of the cost immediately and then makes small regular payments 3. a reduction in the price 4. the money in general use or circulation in any country 5. goods being transported

TASK 2

Complete each sentence with the correct form of the word in capital letters. 6. APPLY Please, send us your formal _____ for the job. 7. DISMISS His _____ surprised everyone as he had been one of our top performers. 8. REDUNDANT A _____ payment is what a company pays to workers who are no longer needed. 9. AGREE We have a binding _____ with that company and we must respect it.

TASK 3

Which of the two words on the left form partnership with the word on the right? 10. Internal audit Indoor

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11. Stock market Shares 12. Work satisfaction Job 13. Brand awareness Product

TASK 4

Which is the odd word out in each line?

14. earn save research waste 15. display show exhibit command 16. cash fee coins notes 17. produce charge manufacture create

TASK 5

What do the following abbreviations stand for?

18. GNP 19. POS 20. L/C

TASK 6

Complete each sentence so that it means the same as the one before it. 21. You wont get a pay rise if you dont work harder. You wont get a pay rise unless ... 22. They were probably listening to my presentation. They must ... 23. On receipt of the invoice we will immediately transfer the money. We will transfer the money as soon ... 24. Investing your money in real estate is better than keeping it on your bank account. It is ...

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TASK 7

Choose the best alternative. 25. The price of the product was _____ high that we finally decided not to order it. A) so B) such C) as D) that 26. Why are you keeping that sales report in your drawer? You ____ it weeks ago. A) should send B) should be sending C) should sent D) should have sent 27. We refuse _____ the invoice as it is for the wrong amount. A) pay B) to pay C) paying D) to paying 28. We are looking forward _____ business with you. A) do B) to do C) doing D) to doing 29. We will take legal action if you _____ within 10 days. A) dont pay B) are not going to pay C) wont pay D) didnt pay 30. Our partners _____ with samples so that they could test the product. A) must supply B) must be supplied C) have to supply D) have to supplied

TASK 8

Fill in the following sentences with suitable prepositions.

31. I would only work ______ an employer who treats me fairly.

32. The EU spends about 50 million euros a year ______ research projects.

33. Microsoft reduced their number of employees ______ 5% last year.

TASK 9

Use the correct form of the verbs in brackets to complete the following sentences.

34. The sales representative tried _____ (