Grammar exercises

Exercise 1. Transfer the sentences from Active into Passive.

Model: The manager examines organizational structure of the firm.

Organizational structure of the firm is examined by the manager.

1. Vice-president gives orders to his employees.

2. I receive orders from the sales manager.

3. My friend holds a position of general manager.

4. Personnel office receives resumes from prospective candidates.

5. Staff departments do different services to line departments.

6. He takes the orders and fulfils the task very quickly usually.

Business and Banks

Banks are different in different countries. Let’s speak about the banks in the United States of America. There commercial banks are classified into two main groups. First there are national banks. They are charted and supervised by the Federal Government. Secondly there are state banks. They are charted and supervised by the state in which they are operated. All commercial banks can make loans to borrowers.

Major commercial banks in such cities as Tokyo, Paris, Rio cooperate with each other. In this way they finance imports and exports between countries.

An importer buys merchandise from another country using the currency of that country. For that purpose he buys this currency from the foreign exchange department of this bank. And in the same way if an exporter receives foreign money from sales to other countries he sells this currency to this bank. By this method the currency of any country can usually be exchanged.

Active Vocabulary

commercial bank

national bank

to charter

to supervise

state bank

merchandise

currency

foreign exchange department

to exchange currency

safety deposit box

коммерческий банк

национальный банк

учреждать, создавать

заведовать, контролировать

государственный банк

товары

валюта, деньги

отдел обмена валюты

обменивать валюту

сейф для депозитов для частных лиц

Vocabulary Practice

Choose the necessary word and put it in the sentence:

merchandise, currency, commercial, foreign exchange, to finance, to supervise, to charter.

1. Federal government … and … all national banks.

2. International cooperation between banks makes it possible … imports and exports.

3. It is possible to convert American dollars to Swiss francs in … department.

4. The … of Germany is the mark.

5. All … banks make loans to borrowers.

6. If the importer buys … from another country he will pay for it in the currency of this country.

Exercise 2. Answer the questions.

1. Is there a difference between banking systems in Russia and western countries?

2. What bank services are you familiar with?

3. Do the banks in this country have safety deposit boxes?

4. Whom do the banks make loans to in this country?

5. What kind of loan would you prefer, long-term loan or short-term loan?

6. What prime-rates are available in this country?

7. What does the line of credit of the enterprise depend on?

8. What is a credit letter written for?

9. What can one do with credit reference letter?