Download BUSINESS ENGLISH EXAM – PRACTICE TEST

BUSINESS ENGLISH EXAM – PRACTICE TEST
LISTENING COMPREHENSION
True/False Questions
1. It will take more than a century to Chinese economy to be as big as those of G7 countries. True or False?
2. According to recent studies, in the near future many of the current G7 countries might lose their leading
position as world’s biggest economies. True or False?
3. China is the only emerging economy which is rapidly developing. True or False?
4. Canada’s economy represents only a small percentage of the G7.s GDP. True or False?
Fill in blanks
5. Anyway, according to the study, the combined GDP of the BRIC countries is currently only one _________ of
the output of the G6.
6. But it’s expected that the total _________ of the four BRIC economies will overtake that of the G6.
7. only America and Japan will _______ among the world’s biggest economies by then.
Multiple Choice
8. Predictions about G6 and BRIC countries are based on:
a. assumptions about productivity and population growth
b. statistics and data from Canada consultants
c. past investments in BRIC and G6
9. According to recent studies, in the next 50 years
a. Japan’s economy could be overtaken by China and India
b. Germany’s economy could be overtaken by Brazil and China
c. America’s economy could be overtaken by India and China
10. Many people believe that
a. lack of stability in politics may affect long-term predictions.
b. the experts. short-term forecasts are always wrong
c. some governments may make wrong forecasts
READING COMPREHENSION
IMF could soon run short of firepower
With its $2bn (£1.3bn, €1.6bn) rescue loan to Iceland and $16.5bn to Ukraine, the International Monetary Fund
has started to dip into an arsenal that is full to the brim. Yet the IMF could soon run short of firepower. In spite
of the period of relative peace in recent years among emerging markets, the private armies of global finance
have grown much faster than the fund’s store of ammunition.
The IMF, headed by Dominique Strauss-Kahn, has about $200bn in easily reachable money and another $50bn
or so it can access rapidly. But Simon Johnson, a former IMF chief economist now at the Massachusetts
Institute of Technology, says that is relatively small. “Maybe if the IMF had two trillion dollars it could be a
serious global player,” he says. Mr Johnson reckons that with other countries also in trouble, the IMF has
probably already had to pencil in committing about a quarter of its $200bn over the next few months. Despite
a long and sometimes fractious discussion about funding and governing the IMF, it has not kept pace with the
rapid rise in the size of global capital markets. Countries in trouble are normally supposed to be limited to three
times “quota”, or their own financial contribution to the fund.
Ukraine’s loan was eight times its quota; Iceland’s 11 times bigger. But even stretching its resources does not
produce overwhelming firepower. Investment bank analysts estimate, for example, that Ukraine needs to raise
some $55bn-$60bn next year in external financing. And while most of that will be borrowed by the private
sector rather than the government to which the IMF lends, it still illustrates the huge size of gross financial
flows.
Nor is the IMF money likely to be the only cash on the table or even the biggest contribution in many crisis-hit
countries. Iceland is seeking several billion dollars more from its Nordic neighbours to supplement the fund’s
loan. If, as seems likely, the IMF agrees a loan to Hungary, it will follow emergency lending from the European
Central Bank.
The administration of President George W. Bush used to argue that the IMF alone, not bilateral lenders, should
be in charge of rescues. That doctrine, like several others, appears to have been discarded. The fund has
insisted it stands ready to get money quickly to countries that need it and is considering granting rapid access
to richer and more stable emerging market countries via a “liquidity swap facility”. But this only means getting
existing resources out of the door faster. Increasing the money at its disposal is harder. Japan has floated the
idea of lending some of its foreign exchange reserves – perhaps as much as $200bn – to the IMF for use in
rescues: experts say Tokyo appears to be concerned that countries such as China or Russia will gain foreign
policy leverage by bilateral loans. Other potential solutions would include the IMF creating more Special
Drawing Rights, an intergovernmental currency. But the main obstacle to the IMF single-handedly saving the
world is not technocratic but political. Its member governments are wary of handing over that much power to a
single institution.
1. According to the article, a “liquidity swap facility” would help to



increase volatility.
provide richer funds to the IMF.
make funds available at a quicker pace.
2. Tokyo is said to be worried about ___________________ that other countries would obtain if involved in
bilateral loans.



the political power
the economic power
the international visibility
3. Ukraine is expected



to be rescued through IMF funds alone.
to avoid receiving funds from the IMF.
to be rescued by funds granted by the IMF and other financing.
4. An investment bank generally lends money to



individuals and companies.
companies but not individuals.
governments only.
5. In the article, a 'quota' primarily identifies a sum of money that



emerging markets receive when in need.
countries in trouble pay to the IMF.
member countries pay to the IMF.
6. You 'borrow money' when you


ask for a loan and obtain it.
offer financial help to someone in need.

you are offered aids which you decline.
7. The article sustains that, by rescuing Iceland and Ukraine, the IMF has used up all its funds.
True or False?
8. Member governments agree to give the IMF complete financial power over rescue loans.
True or False?
9. In the article the form ‘cash on the table’ means 'ready to be paid/lent'.
True or False?
10. In the article a synonym for “to pencil in” can be “to arrange something”.
True or False?
GAP FILL EXERCISE
Daewoo
achieved, acquisitions, average, carmakers, crowded, customer, fixed, hard, hardly, market, medium,
purchases, reliably
When Daewoo entered the UK car market in spring 1995 it was 1) ________ known at all; its cars were
technically 2) ________ average and had an unfashionable country of origin (Korea). With around 40 3)
________ carmakers, the market was 4) ________ crowded. Less than half of these had market shares of over
1%. Many companies had a ‘Buy UK’ or ‘Buy European’ policy for their fleet 5) ________ purchases, which
account for about half of all car purchases. Since the mid 1970s, no new entrant to the UK car market had 6)
________ achieved more than a 1% market share. Yet Daewoo did exactly that in less than a year. We believe it
did so by achieving its aim of being the most 7) ________ customer focused car company in the UK. Daewoo’s
market research revealed that its best target market would be drivers primarily interested in a car’s ability to
get from A to B 8) ________ reliably and cheaply. Surveys had shown that most motorists were afraid to visit
car showrooms and found salespeople too aggressive. They believed that they were treated even worse after
the sale. Further, Daewoo’s research found that in its 9) ________ market segment, 84% of motorists believed
that the treatment they got from the salesperson was at least as important as how they felt about the car
itself. Daewoo developed a new approach to selling. They did not use dealers to sell their cars. By saving the
money normally paid to dealers, Daewoo was able to offer higher specifications at a lower price. Daewoo
designed its car showrooms to be like high street stores, with free access to product information and a free
café; salespeople were on a 10) ________ fixed salary and no negotiating on price was allowed.
GRAMMAR
1.



In the 1980s a wave of restructuring went __________ industry.
through
along
in
2.



Many companies are organizing themselves__________ product lines.
along
in
by
3.



Last year, my company
was less profitable than the year before
had been less profitable than the year before
was being less profitable than the year before
4.The European consumer ___________ more sophisticated.



has become
become
became
5.



Negotiating new contracts __________ involve weeks of meetings with our supplier.
used often to
would often
is used often to
6.



Communicado’s presentation skills training courses _________ to each client’s individual needs.
are tailored
tailor
will tailor
7. After six hours of negotiations, we finally _____________make some progress.
 managed to


could
can
8.



When you ________ this evening, please give Rita your details.
will call
are going to call
call
9.



He wondered when I ____________ .
would be leaving
would I be leaving
will leave?
10.



He wanted to know where
could he get some extra paper
he could get some extra paper
can I get some extra paper?
VOCABULARY
1.



Someone that sells his/her work or services to a number of different companies is usually defined as…
freelance
auditor
professional
2.



If you_______ my report, please tell me.
come about
come over
come across
3.



The share value has __________ radically since last year.
dropped in
dropped off
dropped over
4.



His secretary told me we’ll have to ____ the presentation ____ until next week.
put / on
put / out
put / off
5.



Turnover is a company’s
total profits
total costs
total spending
6.



7.



“A place where goods are sent out to be sold” is a
warehouse
holding company
distribution centre
Which of these terms is not a synonym of „accountant..
auctioneer
auditor
bookkeeper
8. Most ambitious young people want to join an organization with a clear ________ ________ so they can
see how their career will develop.
 career ladder
 salary scale
 extension ladder
9.



To__________ means to select and employ new people in a company.
recruit
apply
hire
10The aim is to ______an agreement.



reach
take
earn
KEYS
Listening Comprehension
1. It will take more than a century to Chinese economy to be as big as those of G7 countries. False
2. According to recent studies, in the near future many of the current G7 countries might lose their leading
position as world’s biggest economies. True
3. China is the only emerging economy which is rapidly developing. False
4. Canada’s economy represents only a small percentage of the G7.s GDP. True
5. Anyway, according to the study, the combined GDP of the BRIC countries is currently only one eight of the
output of the G6.
6. But it’s expected that the total output of the four BRIC economies will overtake that of the G6.
7. only America and Japan will remain among the world’s biggest economies by then.
8. Predictions about G6 and BRIC countries are based on assumptions about productivity and population
growth
9. According to recent studies, in the next 50 years Japan’s economy could be overtaken by China and India
10. Many people believe that lack of stability in politics may affect long-term predictions.
Reading Comprehension - IMF could soon run short of firepower
1. According to the article, a “liquidity swap facility” would help to make funds available at a quicker pace.
2. Tokyo is said to be worried about the political power that other countries would obtain if involved in
bilateral loans.
3. Ukraine is expected to be rescued by funds granted by the IMF and other financing.
4. An investment bank generally lends money to individuals and companies.
5. In the article, a 'quota' primarily identifies a sum of money that member countries pay to the IMF.
6. You 'borrow money' when you ask for a loan and then obtain it.
7. The article sustains that, by rescuing Iceland and Ukraine, the IMF has used up all its funds. False
8. Member governments agree to give the IMF complete financial power over rescue loans. False
9. In the article the form ‘cash on the table’ means 'ready to be paid/lent'. True
10. In the article a synonym for “to pencil in” can be “to arrange something”. True
GAP FILL EXERCISE - Daewoo
When Daewoo entered the UK car market in spring 1995 it was hardly known at all; its cars were technically
average and had an unfashionable country of origin (Korea). With around 40 carmakers, the market was
crowded. Less than half of these had market shares of over 1%. Many companies had a ‘Buy UK’ or ‘Buy
European’ policy for their fleet purchases, which account for about half of all car purchases. Since the mid
1970s, no new entrant to the UK car market had achieved more than a 1% market share. Yet Daewoo did
exactly that in less than a year. We believe it did so by achieving its aim of being the most customer focused
car company in the UK. Daewoo’s market research revealed that its best target market would be drivers
primarily interested in a car’s ability to get from A to B reliably and cheaply. Surveys had shown that most
motorists were afraid to visit car showrooms and found salespeople too aggressive. They believed that they
were treated even worse after the sale. Further, Daewoo’s research found that in its market segment, 84% of
motorists believed that the treatment they got from the salesperson was at least as important as how they felt
about the car itself. Daewoo developed a new approach to selling. They did not use dealers to sell their cars. By
saving the money normally paid to dealers, Daewoo was able to offer higher specifications at a lower price.
Daewoo designed its car showrooms to be like high street stores, with free access to product information and a
free café; salespeople were on a fixed salary and no negotiating on price was allowed.
NOT USED: medium, acquisitions, hard
GRAMMAR
In the 1980s a wave of restructuring went through industry.
Many companies are organizing themselves along product lines.
Last year, my company was less profitable than the year before
The European consumer has become more sophisticated.
Negotiating new contracts would often involve weeks of meetings with our supplier.
Communicado’s presentation skills training courses are tailored to each client’s individual needs.
After six hours of negotiations, we finally managed to make some progress.
When you call this evening, please give Rita your details.
He wondered when I would be leaving
He wanted to know where he could get some extra paper
They have postponed launching the new model.
VOCABULARY
Someone that sells his/her work or services to a number of different companies is usually defined as freelance
If you come across my report, please tell me.
The share value has dropped off radically since last year.
His secretary told me we’ll have to put the presentation off until next week.
Turnover is a company’s total profits
“A place where goods are sent out to be sold” is a distribution centre
Which of these terms is not a synonym of “accountant”: auctioneer
Most ambitious young people want to join an organization with a clear career ladder so they can see how their
career will develop.
To recruit means to select and employ new people in a company.
The aim is to reach an agreement.