Financial Terminology - 1

Mid term exam 2

Simultaneous interpretation in the field of activities of international and Kazakhstani financial institutions

Course

Do the given multi-choice test (10 min. 20 points)

Do sight interpretation to the given text material (20 min, 35 points)

Interpret the given video material simultaneously (20 min. 45 points)

Financial Terminology - 1

Q: It's an excellent university, but the _____ are rather high.

fares
fees
price

Q: I made my _____ buying and selling stocks.

fortune
treasure
wealthy

Q: I bought this coat on sale. It was _____ $50.

on sale
decreased
reduced

Q: There's a small studio to _____ in James Street.

lent
hire
lease

Q: I haven't got enough money for lunch. Could you _____ me some?

borrow
let
lend

Q: How much does she _____ in her position?

gain
earn
pay

Q: That house is too expensive. We can't _____ it.

allow
afford
pay

Q: He's an excellent doctor, but he doesn't _____ too much.

charge
fee
spend

Q: Mary never carries cash with her and pays for everything by _____.

receipt
tip
credit-card

Q: The old couple had only a small ___ to live on.

wage
wealth
pension

Q: Fred didn't like the waitperson so he didn't leave a _____.

receipt
tip
loan

Q: They wouldn't have been able to buy their camper without a bank ____.

borrow
lend
loan

Q: The store won't change any merchandise without the original _____.

receipt
credit-card
recipe

Q: The dime is such a small _____ that everyone dislikes it.

tip
coin
note

Q: The apartment is not in very good condition so the _____ is low.

rent
lease
hire

Q: The cd-player has a twelve month _____.

warrant
warranty
receipt

Q: He keeps all his money and valuables in a _____ behind this painting.

tip
box
safe

Q: My friend Tom made his considerable _____ selling cars.

wealthy
wealth
money

Q: I've just bought a new _____ policy.

insure
insurance
uninsured

Q: Jane saves as much money as she can and tries to never spend a dime. She is a ______.

retired
miser
heir

swindler
investors
heir

Q: Unfortunately, I bought a piece of worthless junk from a _____ who told me it was a masterpiece.

swindler
manager
miser

Q& A: Why China won't ride to Europe's rescue

Beijing (CNN) -- After a deal was hammered out by European Union leaders last week on a joint plan to help bailout Greece and bolster European banks, the world looked to China to help pick up the check.In a historical context, it's a remarkable turn of events for China, which inside a generation has rocketed from isolation and poverty to become the world's second largest economy behind the United States.But as Chinese President Hu Jintao arrived in Europe to meet with other G-20 leaders in Cannes, it became increasingly clear that Beijing wasn't coming into town wearing a white hat to rescue debt-ridden eurozone nations.

Why is the EU turning to China?

Simply put, Beijing has the money.

The tumult in Greece is over austerity moves that would cut Greek services, reduce payback to Greek bondholders by as much 50% and bolster loans to help Athens in $178 billion deal.The end goal of these measures would leave Greece with debt equaling 120% of its total economic output by 2020.China, by contrast, is the largest holder of foreign currency reserves in the world with more than $3 trillion in its coffers and an economy whose annual growth rate hovers near 10%.European leaders are hoping Beijing will be a substantial contributor to the European Financial Stability Fund, which under the deal hammered out last week would increase from 440 billion euros to 1 trillion euros ($1.36 trillion).But Chinese Vice Finance Minister Zhu Guangyao told reporters gathering in Cannes ahead of the summit that it was " too soon" for Beijing to say whether it would contribute to the fund. " The fund has not established details of its investment options so we still can't talk about the issue of investing, " he said.

What's in it for China?

The bloc of 17 nations united under the euro currency is China's largest trading partner, the destination for nearly 20% of Chinese goods exported in 2010; by comparison, 18% of Chinese exports were sent to the U.S, according to 2010 World Trade Organization figures.In July, eurozone trade to China surpassed the U.S. for the first time to become the EU's largest trading partner, according to Eurostat. So an unstable Europe would undoubtedly hurt the fortunes of exporters here.Still, any help would likely come with strings attached. Though U.S. lawmakers have led complaints that China unfairly manipulates the value of its currency, similar shouts have been heard from European officials. No doubt Beijing would like to see those calls silenced.

Moreover, China wants the EU to give it market economy status, which would reduce the tariffs for Chinese products sold in the eurozone. China is scheduled to get market economy status by the World Trade Organization in 2016, and observers say it's likely the EU will wait until then.

" Since eruption of the global financial crisis and the debt crisis in Europe, China has offered help to Europe. For instance, China sent several delegations to Europe to purchase huge amounts of goods and services in 2009, aiming to boost Europe's economy. Since last year, China has purchased bonds of several European countries, trying to save nations deep in a debt crisis, " a commentary in China's state-run Xinhua said last month arguing for market economy status.

" By contrast, it is a pity that the EU side still shows no sincerity on the issue of recognizing China's market economy status, " it said.

Why is China reluctant to help?

There appears to be little domestic enthusiasm in China to run to the EU's aid.

" They keep pushing the anti-dumping thing and bullying China, and now we are helping them? " one Beijing man told CNN, referring to allegations that China " dumps" products in markets with unfair pricing. " I say we should not save them."

Chinese perceive their currency reserve as a nest egg built on the back of 30 years hard work building its economy, said Patrick Chovanec of Tsinghua University.