Test No. 1 for the part time 1st year students of the Faculty of Economics
(Rezekne Higher Education Institution)
Class exercises: 1. Read and translate the text:
It's all for One - and One for All
Virgin's new account gathers all the elements of the personal finance jigsaw into one complete
picture, explains Roger Anderson
ost people will spend 30 you want and, equally important, pay Most borrowers have little choice
most of their life owing it off however you choose. You must 60 about how to manage mortgage
other people money. satisfy the bank that you will have debt, other than to pay regular
They do not realise that repaid the debt by the end of an amounts prescribed by the lender. If
5 they can save money (sometimes agreed term, such as 25 years. The they want to pay off capital early,
quite a lot) by consolidating their 35 main proviso is that you must have they find that some lenders charge
income, savings and debts into a repaid the debt by the time you 65 for this, while many lenders will not
single bank account. retire. credit any extra capital repayments
This, of course, is not the Your salary must be paid into the until the year end. This means that
10 traditional way that people run their account and you must pay interest for most of the year interest is being
personal finances, with salaries 40 (which is calculated daily) at a charged as if for a loan that is bigger
going into one account, savings into current rate. At the same time, the 70 than the one that actually exists.
another and a completely different One account is run like an ordinary Take, for instance, a mortgage of
arrangement to pay off the mortgage. b a n k a c c o u n t ( yo u g e t a £60,000, repayable over 25 years at
15 The One account allows you to chequebook and bank cards and an interest rate of 8.55%. Your
put your savings and borrowings 45 there are no restrictions on the typical loan repayments would be
together, keeping the cost of your number of withdrawals). 75 £490 a month. If, however, your
borrowing to a minimum. On the face of it, only a fool repayments were taken into account
When you open a One account, would put his money into one bank the moment they were made, you
20 you negotiate an overall borrowing earning interest at, say 6%, and then could repay your loan 11 months
facility that can represent as much as 50 borrow the same amount from early, saving more than £5,000.
95% of the value of your home. Thus another bank at 10%. But this is 80 Where you can really start eating
a couple with a £100,000 house - precisely what most people are into your debt is by having your
and needing an 80% mortgage - doing - they are funding mortgages salary paid into your mortgage
25 might set up a loan facility of at rates much higher than they are account. As salaries rise - and you
£95,000, giving them an additional 55 getting for their savings. And for can afford to repay more of your debt
£15,000 to call on when required. much of the time, they are not 85 - the term of what, traditionally,
Once the lending facility has been getting any interest at all on money would have been a 25-year mortgage
agreed, you can dip into it whenever in their ordinary bank accounts. can be cut quite dramatically.
2. Write the test on economic terminology.
3. Write the grammar test.
4. Present 2 role plays: a) Job interview. b) In the office .
5. Speak on a) your biography; b) your duties in the working place.
Sample of the job interview
1. Read the first part of Nancy's interview. Put the correct auxiliary verb do, did, or have into each gap.
Who ____________ you work for at the moment, Ms Mann?
I work for the BBC World Service.
And how long __________ you worked for the BBC?
I _________ been with the BBC for five years. Yes, exactly five years.
And how long ____________ you been their German correspondent?
For two years.
And what ____________ you do before the BBC?
I worked as an interpreter for the EU.
Does she still work for the BBC? Does she still work for the EU?
I work for the BBC World Service. I've worked for them for five years. I worked as an
interpreter for the EU.
2. Read and complete the second part of Nancy's interview with did, was, or have. I
I. As you know, this job is based in Geneva. ________-___________ you ever lived abroad before?
N. Oh yes, yes I __________.
I. And when ___________ you live abroad?
N. Well, in fact I __________ born in Argentina and I lived there until I was eleven. Also, I lived and
worked in Brussels for two years when I ____working for the EU.
I. That's interesting. ___________ you travelled much?
N. Oh yes, yes indeed. I __________ travelled all over western and eastern Europe, and I also___
been to many parts of South America.
I. And why ___________ you go to these places?
N. Well, mostly for pleasure, but three years ago I went back to Argentina to cover various political stories in
Buenos Aires for the BBC•
Examples: Have you ever lived abroad? When did you live abroad?
I've been to many parts of South America... three years ago I went back to Argentina
Written Home Exercises:
1. Write the letter of application for the following job in the Daily News:
17 Hillside Rd
WD3 5LB Tel 01923 284171
Fax 01923 286622
Thursday 17 January
World Watch UK Ltd
357 Ferry Rd
Basingstoke RG2 5HP
Dear Mr Benton,
I saw your ________ for a Project Manager in today's
Guardian newspaper. I am very ________ in the
job and I think that I have many of the
necessary _______ .
I _____________ economics and management at
Rēzeknes Augstskola (Rezekne Higher Education Institution).
I am ___________________________________ in French, German and Spanish.
I have _________ widely in Europe and South
America, and I ____________ worked as a project
manager for the BBC ____________ the last five years.
I enclose a copy of my curriculum vitae. I look forward
___________ hearing from you soon. Please let me
know if you need more information.
2. Find a word or phrase in the text “It’s all for one-and One for All” that has a similar
l. ongoing opportunity to get extra credit without asking the lender (para 4)
period of time in which a loan must be repaid (para 5)
rate of interest which is set at the present time (para 6)
action of taking money from your bank account (para 6)
money which you deposit with a bank, which earns interest for you (para 7)
if you can do this, you are able to pay for something because you have enough money (para 9)