Unit 10 Learn how to manage your wealth.
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Unit 10 test
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Directions: Click on the speaker to the left to start playing the audio recordings
Parts I, II and III. They will be played continuously. Once the recording starts playi
please do NOT click on either the speaker icon or the 'Unit Quiz' link in the menu
above. Otherwise, you may lose the chance of hearing the complete recording.
Part I Script
Directions: Listen to the short dialogs, and then choose the correct answers
to the questions. You will hear the recording twice. After the first playing,
there will be time for you to choose the correct answers. Use the second playing
to check your answers.
1.(Listen to the audio recording for the question.)
A. Stocks.
B. Government bonds.
C. Corporate bonds.
D. Stocks and corporate bonds.
2.(Listen to the audio recording for the question.)
A. Nasdaq takes an average of all its stocks while Dow does not.
B. Dow takes the average of its all its stocks while Nasdaq does not.
C. Neither uses the average of its stocks.
D. Both take an average of all their stocks.
3.(Listen to the audio recording for the question.)
A. A depression is approaching.
B. The stock market may crash.
C. The stock market is stable.
D. The stock market is rising fast.
4.(Listen to the audio recording for the question.)
A. The woman will follow the man to buy the company's shares.
B. The man's stocks have gone up.
C. The man suffers a great loss caused by the company's bad performance.
D. The woman suggests the man think carefully before he acts.
5.(Listen to the audio recording for the question.)
A. The man lost a lot of money in the stock market.
B. The stock market is in a slump.
C. The woman is surprised at Jack's bad luck.
D. Jack has stayed away from the stock market to avoid losses.
Part II Script
Directions: Listen to the passage three times. When the passage is read for
the first time, listen for the general idea. When the passage is read the second time, fill in the blanks numbered from (1) to (7) with the exact words you hear. For blanks numbered from (8) to (10), write down either the exact words you hear or the main points in your own words. When the passage is read the third time, check your answers.
Just like an
company's stock. A mutual fund is a group of stocks and bonds that is
by a group of people. A financial company is in charge of the mutual fund, which
is
one or more portfolio managers. The people who
in mutual funds are also known as shareholders because a unit of
in a mutual fund is called a share. A mutual fund uses the cash invested by its
shareholders are indirect
that portfolio of stocks or bonds.
Since a mutual fund may contain the stocks of many companies in its portfolio,
(8)
Most mutual funds are open-end funds. This means that at the end of every day,
(9)
A mutual fund can also be a closed-end fund. The sponsor of a closed-end fund registers and issues a fixed number of shares at the initial offering, similar to a common stock. Investors then can buy or sell these shares through a stock exchange.
(10)
Your answer Correct answer
(1) individual individual
(2) owned owned
(3) managed managed
(4) invest invest
(5) ownership ownership
(6) shareholders shareholders
(7) investors investors
(8) shareholders are often able to own a
greater and more diverse number of
stocks than if they invested directly
in the stock market
(9) the investment management company
sponsoring the fund issues new shares
to investors and buys back shares from
investors wishing to leave the fund
(10) The sponsor does not buy back or issue
shares after a closed-end fund is
launched, so the investor must trade
them through a broker
Part III Script
Directions: Listen to the following recording, and then choose the correct answers to the questions. You will hear the recording twice. After the first playing, there will be time for you to choose the correct answers. Use the second playing to check your answers.
1.How much did an Apple Computer PowerBook G3 250 laptop cost in 1997 according
to the passage?
A. $3,700.
B. $5,500.
C. $5,700.
D. $7,500.
2.Who has hundreds of examples on his personal Website that show what would
have happened if one had decided to purchase Apple stock?
A. A stock broker.
B. An economist.
C. A manager.
D. A student.
3.When was the iPod Shuffle released?
A. 1998.
B. 2001.
C. 2008.
D. 1997.
4.How much did the first generation iPod cost?
A. $400.
B. $40.
C. $11,500.
D. $350.
5.What would be the best title for the passage?
A. If You Bought Apple Stock Instead of Its Products
B. If You Bought Apple Products Instead of Its Stock
C. You Should Invest Your Money in Stocks
D. Stocks Are Your Best Choice to Make Money
Part IV
Directions: Choose the best answer to each of the following statements.
1.Many investors jump on IPOs, hoping to get rich by getting into a stock
early, before it goes up. But isn't that a bit like buying a book without
reading it? I mean, ___________ it doesn't go up?
A. how if
B. what if
C. how about
D. what about
2.Online share trading has totally changed the stock market and the lives
of investors. ___________ the Internet and be your own broker!
A. Connect
B. Link
C. Hook up to
D. Hook over
3._____ about $500, you can open an account and begin buying and selling
shares from your own home, 24 hours a day.
A. For
B. To
C. In
D. At
4.The days of dot-com fortunes from IPOs are _____.
A. across
B. up
C. above
D. over
5.I won't recommend any specific stock. You have to make the decision
___________.
A. by your own
B. on your own
C. for you
D. by you
6.After you bought a stock that was already very low, it may continue to drop.
In that case you will lose your __________.
A. shares
B. pants
C. shirt
D. skirt
7.To make money, you have to __________.
A. seize with opportunities
B. grasp for opportunities
C. make chances
D. take chances
8.I'm not _______ a gambler. I don't want to risk my money in the stock market.
A. much of
B. a lot of
C. very
D. very much
9.You can probably try blue chip stocks for a guaranteed ________ your
investment.
A. report for
B. release from
C. report on
D. return on
10.Shareholders may make money or lose money by selling stocks that they own,
________ on whether the price has gone up or down since they bought their shares.
A. depend
B. depending
C. depends
D. depended
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Question 1
W: Owing to my hard work, I was rewarded with a large sum of money this year.
So I'm considering doing some investing. But I would definitely like it to be safe. M: Well, since you are a risk-averse investor, I strongly advise you to buy
government bonds. Stocks and corporate bonds are too risky. Q: What will the woman probably invest in according to the dialog? Question 2
M: I often hear the term stock indexes. How do they work? I know the Nasdaq
index is roughly the average value of all the stocks on that exchange. But what about the Dow?
W:The Dow Jones Industrial Average covers 30 well-known industrial stocks.
The editors add up the prices and divide by 30. It's a snapshot of the market at a given time.
Q:What can we know about the two stock indexes from the dialog? Question 3
M:You're probably right: One can make money on the stock market. But there's the chance of a 1929-type crash with another Great Depression bringing worldwide misery.
W:Problems that caused that crash have largely been solved. Today investors put up more cash to cover purchases; pension funds with millions of shares steady the market.
Q:What does the woman mean?
Question 4
M:Great news! The company I invested in is launching a new product. I bet the price of its stocks will go up. I'll call my broker to buy more shares from the company for me.
W:Be careful. What if the product is a flop?
Q:Which of the following is true according to the dialog?
Question 5
M:Mary, go and say a few words of comfort to Jack. He's down in the dumps.
The stock market swallowed all his savings.
W:It's little wonder he lost everything in such a bearish market. He should have stayed away from it.
Q:What can we infer from the dialog?
Just like an individual, a mutual fund can also buy or sell shares of a company's stock. A mutual fund is a group of stocks and bonds that is owned by a group of people. A financial company is in charge of the mutual fund, which is managed by one or more portfolio managers. The people who invest in mutual funds are also known as shareholders because a unit of ownership in a mutual fund is called a share. A mutual fund uses the cash invested by its shareholders to purchase stocks, or in some cases, bonds. The fund's
shareholders are indirect investors in that portfolio of stocks or bonds.