Professional Documents
Culture Documents
Banking - Jav.
Banking - Jav.
Insurance
People buy insurance to protect themselves against the losses that may result from an
accident or catastrophe. For example, a company involved in a major construction project
may have all the necessary skills for completing the job but there is still an element of risk.
Extreme weather conditions or a natural disaster could damage or destroy the work that has
been done. To protect itself, the company can pay a sum of money a premium to an
insurance company who will underwrite the risk or guarantee to provide financial
compensation if such an event occurs. The exact details of this insurance are contained in the
insurance policy which is a document showing the risks that have been insured against and
the levels of compensation that will be paid.
VOCABULARY (Banking)
Task 1 Complete the text using these words.
cash dispensers
current account
investment advice
overdraft
cheque
deposit account
loan
pension
credit card
foreign currency
mortgage
standing order
Number of
customers
Services
offered
Role in the
community
Task 2: Mark Cowan is the owner of a new shopping service called The Pedigree Page,
specialising in providing a variety of products for pet owners which can be ordered on the
Internet. Listen to the dialogue between Mark Cowan and his bank manager and answer the
following questions.
1)
2)
3)
4)
VOCABULARY (Finance) Task 1 Match a word from the box with its definition.
There are more words in the box than you need.
transaction
overdue
1)
2)
3)
4)
5)
6)
7)
balance sheet
profit
reminder
tax
debts
assets
accountant
revenue
auditing
money you get from doing business after taking away costs
money that you pay to the government according to your income
officially checking an organisations accounts
a document showing the companys current financial position
the process of making a payment
a person who inspects financial records and prepares tax reports
this letter is sent to customers who havent settled their accounts
Task 2/A Match the definitions 1 to 6 with the financial terms a) to f).
1) money owed by one person or organisation to
another person or organisation
2) a period of time when business activity
decreases because the economy is doing badly
3) difference between the selling price of a
product and the cost of producing it
4) a place where company shares are bought and
sold
5) money which people or organisations put into a
business to make a profit
6) equal parts into which the capital or ownership
of a company is divided
a) gross margin
b) recession
c) shares
d) debt
e) stock market
f) investment
Task 2/C Complete this report with the terms from part A and B.
In our home markets it has been another excellent year. (1)__Pre-tax profits___ are up by 23
million, and the (2)______________ for the next quarter is equally good. Profits from abroad
are down because of a (3)_____________ in Japan. However, our performance overall has
been good, and then (4)___________ have increased to 26.4p and the (5)__________ will be
increased to 4.3p per share, which will please our shareholders.
We plan to issue new (6)_________ in order to finance expansion in Asia. We also plan to
increase our (7)___________ in plant and equipment before entering the Chinese market. We
are particularly pleased with our performance in France and Germany where
(8)____________ have increased. As a result of using a new distributor, our costs fell giving
us a (9)____________ of 40 percent on our main product line. We will use any extra cash to
reduce the level of our (10)_____________.
Our performance in Italy should improve significantly following the (11)___________ of our
biggest competitor. However, we should not become too satisfied with our share price as
economic conditions remain uncertain and the (12)__________ will continue to reflect this.
Share prices will not rise in the short term.
VOCABULARY (Insurance) Task 1 Match the words in italics from sentences a-e
below to these definitions.
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
She made an expensive claim last year so her car insurance premium has gone up.
At last the other partys insurance company has admitted its liability and has agreed
settle our claim. You should receive a cheque for compensation in the next couple of
Before you sign the policy you should check its terms carefully.
If you find the quotation satisfactory, we can issue a policy by the end of the week.
You have bought some valuable property in the last few years, you should increase
the level of your cover.
Task 2 Complete these sentences with for, with, against, and out.
to
weeks.
Many film stars and artists have insured themselves (1)______Lloyds. The film star Betty
Grables legs were insured (2)______ 1,000,000 but unfortunately they didnt have to pay
(3)______.
Even though there was 10,000 damage the insurance company tried to make her settle
(4)_____ half.
Banks can now take (5)_____ rogue trader cover to protect themselves (6)______ the
unauthorized activities of their employees.
A whiskey distiller insured his nose (7)_______ 200,000 while a famous food critic took
(8)______ a policy insuring his taste buds (9)________ permanent damage.
READING TASK
The jumbled text below describes the process that a car owner has to go through to insure
his/her car. Put the sentences in the right order (a-g).
A
B
C
D
E
F
G
If the car owner accepts the quotation, the company issues a policy which states the
terms of the cover provided. ...........
If he / she is adequately covered and the claim is valid, the insurance company is liable
to pay the claim in full. ...........
For example, third party cover will just pay for damage or injury to other people. Fully
comprehensive cover, on the other hand, will cover damage to the policyholders own
vehicle. ...........
Once the car owner has chosen the type of cover, he / she will be given a quotation for
the premium that has to be paid. ...........
However, if the company decides the car is worth less than the insured value, they will
try to settle the claim for less. ............
This means that, if the policyholder then has an accident, he / she can make a claim.
.............
First of all, he / she contacts an insurance company. The insurance company will ask
for personal and vehicle details and the kind of cover the car owner wants. ....1.....
ARTICLES
Give a Hungarian summary of the articles below. Make sure you include all the
important information.
Lloyd's of London makes loss after hurricanes
Lloyd's of London today reported only a small loss for 2005, despite the worst year for natural
disasters on record.
The world's oldest and largest insurance market confined its losses to 103m following
a 1.3bn profit in 2004. It said last year had cost the insurance industry far more than the
September 11, 2001 terror attacks in the US.
The insurance industry was last year hit hard by claims arising from hurricanes
Katrina, Rita and Wilma amounting to $65bn (37bn). Katrina killed hundreds, flooding New
Orleans and damaging oil rigs in September.
Lloyd's said it had limited its market losses through rigorous performance
management. Since September 11 which led to a 3.1bn 2001 loss at Lloyds insurers
have sold shares, raised money and tightened underwriting standards to withstand a major
catastrophe.
For Lloyds to emerge from such a year with just a small loss represents an excellent
performance by the market, the Lloyd's market chairman, Lord Levene, said.
Lloyds is not an insurance company, but an insurance market made up of members.
There are 62 insurance businesses operating within the 318 year-old market. Lloyds insurers
specialise in risks in areas including natural disasters, aviation and marine accidents.
6th April, 2006
Research shows trust in online banking
Britons are more confident about the security of online banking now compared with
three years ago despite recent website scams and loopholes, according to research published
today.
The study conducted by the market information specialist TNS shows that more than
one in five (22%) adults surveyed were either likely to start using or planned to increase their
use of online banking in the future, and those aged 16-24 are the most confident users. A
further 11% used internet banking services and had no plans to change their usage, while just
4% planned to decrease the use of internet banking.
Rosemary Bayman, managing consultant at TNS said: Over the past few years, as
internet access has increased, it has become more convenient for many people to pay their
bills and manage their finances online. However, internet banking is not the right solution for
everyone: banks must continue to offer their customers choice in how they manage their
finances. In a society where there are greater constraints on peoples time, online banking
offered customers greater flexibility, making it easier for them to run financial affairs. Ms
Bayman added: In the light of recent security scandals, banks with online facilities have
doubled their efforts to improve security and remove any weaknesses from their systems.
USE OF ENGLISH / WRITING
Orders
Task 1 Use the words below to complete this extract from a covering letter that has
been sent with an order.
alternative
hand over
consignment
packed
crates
settle
delivery
transaction
depot
wrapped
Would you please make sure that the (1) ________________ of fabrics is (2) _____________
carefully in tissue paper, and (3) ________________ securely in (4) ________________ and
sent to our main goods (5) ________________ at the above address in Milan.
If the items listed are not available, please do not send (6) ________________ materials or
colours. If there are any problems with (7) ________________ , could you let us know
immediately.
We will (8) ________________ your draft for 25,000 DM, at our bank as soon as they (9)
________________ the shipping documents.
If this (10) ________________ is successful, we will place larger orders in the future.
Task 2 Match up the phrases in A with the phrases in B to make complete sentences,
and put the verbs into the first conditional.
A
c we (accept) an alternative.
Task 3 Complete each unfinished sentence in the exercise below, so that it means the
same as the one before it.
1 If we dont hear from you, well assume there are no problems.
Unless we
2 We cant give you a 15% discount because your order isnt large enough.
If you order
3 On receipt of your order, well despatch the goods immediately.
As soon as
4 We can only process your order if we receive the necessary documents within fourteen days.
Provided that we
5 The colour you require may be out of stock. Would you accept an alternative?
If we
6 We cannot accept your order without a letter of credit.
Unless you
Task 4 The following verbs can all be used with the noun ORDER. Choose the best verb
to complete the sentences, using each one only once, in the correct form.
confirm
refuse
deliver
ship
make up
cancel
despatch
place
Task 5 In this email Mr Takahashi is placing an order, but the sentences have become
confused. Rewrite the email with the sentences in the correct order, starting new
paragraphs where appropriate.
1.
Best wishes
2.
If some of the items are out of stock, please do not send substitutes.
3.
When you send the order, please make sure all cartons are clearly labelled with our
logo and numbered.
4.
I can confirm that the 10% quantity discount off net prices that you offered is
acceptable.
5.
6.
I attach our order No 49301/231 for the selection of shirts, trousers, and jackets which
we discussed on the phone yesterday.
7.
Kosaburo Takahashi
8.
As agreed, we will pay by letter of credit I have already arranged this with the bank.
9.
Please note the order must be here by 10 April, in time for the new season.
10.
As soon as the bank hands over the shipping documents, the credit will be released.
Task 6 Make words from the jumbled letters and match them with the definitions
below.
a SMPOMILCTEN IPLS
b NOVCIIE
c GIFOWRDNRA GNETA
d TSTMTEELEN
e RIA ILWYALB
f IHPS
g VIGCNERO TRTEEL
h CIAVDE TNEO
1.
2.
3.
4.
5.
6.
7.
8.
apologise/inconvenience
assure/prompt
attached/delay
discount/repeat
dispatched/firm
first-time/pre-payment
processed/track
temporarily/stock
would/grateful
1.
Please return attached form asap so that your order can be processed without any
delay.
2.
3.
4.
I have spoken to my line manager, and we are pleased to offer a small _____________
on this occasion in the hope that it will lead to ________________ orders.
5.
6.
7.
8.
9.
10.
11.
12.