Exercise 6. Read the text once again and find key words in every passage.
МИНИСТЕРСТВО СЕЛЬСКОГО ХОЗЯЙСТВА РОССИЙСКОЙ ФЕДЕРАЦИИ
ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ БЮДЖЕТНОЕ ОБРАЗОВАНИЕ УЧРЕЖДЕНИЕ ВЫСШЕГО ОБРАЗОВАНИЯ
КРАСНОЯРСКИЙ ГОСУДАРСТВЕННЫЙ АГРАРНЫЙ УНИВЕРСИТЕТ
Институт Международного менеджмента и образования
Кафедра Иностранных языков
Контрольная работа
По дисциплине: Английский для профессиональных целей
Выполнено:
Студент ____курса____ группы
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(ФИО)
Проверенно:
Преподователь кафедры ДИЯ
______________________________
(ФИО)
Красноярск 2018
Контрольная работа по дисциплине «Английский для профессиональных целей» 4 курс 8 семестр
Тема 1: SOURCES OF FUNDS
Exercise 1 . Read and learn the following international words.
business
financing
capital
bank
company
commercial
institution
deposit
federal
maximize
individual
type
compensate
firm
dealer
risk
contract
Exercise 2. Choose from the text the words with the following suffixes, place them in the alphabetical order and translate them.
- ment - суффикс существительного
- er - суффикс существительного
- al - суффикс прилагательного
Exercise 3. Read and learn the following words and word combinations. Use them in sentences of your own.
to borrow an amount of money - занимать (брать в долг) сумму денег
different sources of financing - различные источники финансирования
to develop a new business - развивать новый бизнес
to borrow from third parties - занимать у третьих лиц
to lend money to business - одалживать деньги бизнесу (предприятию)
business loans - займы бизнесу
to charge a higher interest - взимать более высокий процент
to get the charter - получить патент
to receive funds from depositors - получать деньги от вкладчиков (инвесторов)
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high interest rate — высокая процентная ставка
commercial paper - коммерческая бумага
pledge - залог
collateral — гарантия, финансовое поручительство
factoring - факторинг
Exercise 4. Read the title of the text and predict the main ideas of the text.
Exercise 5. Read and translate the text and find out:
1. Who should a businessman address if he wants to establish the business?
2. What is a commercial bank?
3. How do commercial banks make money and what is their main goal?
4. What is a finance company?
5. What is the difference between the commercial bank and the finance company?
6. What are the main types of finance companies?
7. What is the difference between them?
Sources of funds
If somebody wants to borrow an amount of money, for example to establish his own business, he may use different sources of financing. First of all he may use his own capital which has been acquired in some kind of activity. Then he may address to the relatives or friends and ask them to lend him a certain amount of money for developing a new business. Next way is to borrow funds from third parties such as banks and finance companies.
Commercial banks are financial institutions that exist primarily to lend money to businesses. Banks also may lend to individuals, governments, and other entities, but most of their profits typically come from business loans. Commercial banks make money by charging a higher interest rate on the equipment and other facilities. The banks do most of the business by receiving funds from depositors and lending the funds to those who need. The main financial goal of the banks is to maximize value to the stockholders. It is necessary for any bank to get the “charter” before it can act. Commercial bank charters are issued by federal government or the government of the state where the bank is located. Commercial banks are managed just like other companies. They have stockholders, employees, managers.
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Finance companies are nonbank firms that make short-term and medium-term loans to consumers and businesses. They often serve those customers who don't qualify for loans at other financial institutions. Like banks, finance companies operate by taking in money and lending it out to their customers at a higher interest rate. A major difference between finance companies and other financial institutions, however, lies in the source of finance company funds. Banks receive most of their funds from individuals and businesses that deposit money in accounts at the institutions. Finance companies generally get their funds by borrowing from banks, or by selling commercial paper.
There are three main types of finance companies: consumer, commercial, and sales. Here are the characteristics and functions of each type.
Consumer Finance Companies sometimes known as small-loan companies, make small loans to consumers for car purchases, recreational vehicles, medical expenses, vacations, and the like. Consumer finance companies often make loans to customers with less than perfect credit. Because the customers are a higher risk, the interest rates charged on loans are usually a little higher to compensate for the greater risk.
Commercial Finance Companies concentrate on providing credit to other business firms. A special type of commercial finance company is called a factor. Factoring is the buying of a business firm's accounts receivable, thus supplying needed funds to the selling firm. Commercial finance companies also make loans to businesses, usually with accounts receivable or inventory pledged as collateral.
Sales Finance Companies. The mission of sales finance companies is to help the sales of some corporation (indeed, many are subsidiaries of the corporation whose sales they are promoting). In the automotive industry, for example, customers are more likely to buy cars from dealers that offer financing on the spot than from dealers who have no financing programs.
A finance company generally gives its retail dealers a supply of loan contract forms, which the dealers fill out at the time of sale. The contract is immediately sold to the finance company (at a slightly reduced price, of course, to allow for the finance company's profit).
Exercise 6. Read the text once again and find key words in every passage.
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