填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: at
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你可能感兴趣的试题

填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company is benefiting from its promotion.

答案: A
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
The Tsangs is likely to have been in the United States for ______.

A.one year
B.five years
C.ten years
D.fifteen years
答案: A
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.have been faced
B.have been facing
C.were faced
D.had faced
答案: A
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: at
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: in
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: D
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company will be allowed to sell some kind of pills in a few years.

答案: E
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
Which of the following is not the advice given by Willie Huang

A.Investing in some kind of fund.
B.Buying health insurance
C.Buying disability insurance.
D.Buying life insurance.
答案: D
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.variable
B.varified
C.varied
D.variety
答案: C
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: but
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: that
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: G
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
If Eric buys the suggested insurance, he will pay ______ a month.

A.$367,851
B.$368,851
C.$18,851
D.$368,751
答案: B
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.concerning
B.concern
C.concerns
D.concerned
答案: D
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: as
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: are (第一个)
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: H
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company is considered to be weak in management.

答案: C
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.machinery
B.machine
C.mechanical
D.machines
答案: A
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
The Tsangs may come from ______.

A.Taiwan Province
B.mainland of China
C.Hong Kong SAR
D.Singapore
答案: C
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: for
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: and
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: for
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: that
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: A
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.must be done
B.will be done
C.may be done
D.can be done
答案: D
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
Eric is running ______.

A.a restaurant
B.real estate
C.a bank
D.insurance company
答案: A
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: In
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: which
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company is giving preferential prices to its customers.

答案: A
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.consideration
B.considerable
C.considerateness
D.considering
答案: A
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: E
填空题

PART THREE
· Read the following text.
· Each question has four suggested answers or ways of finishing the sentence, A, B, C and D.
· Mark one letter A, B, C or D for the answer you choose.

Willie Huang, a certified financial planner with American Express Financial Advisors, Ink in Queen, New York, himself an immigrant from Taiwan Province, regularly advises recent arrivals from Asia He says they often make the same mistakes. After evaluating the Tsang’ assets, Huang praised their knack for saving money. "Their ability to live within their means is excellent," he says, comparing them favorable with some of his native-born U.S. clients who are deep in credit-card debt. But Huang found several dangerous flaws in the family’s financial strategy. His advice:
Invest more aggressively. Huang asserts the couple needs to invest in the stock market, the only place where they can find the growth they need to be able to retire comfortably. He wants the Tsangs to put some of their money into growth-oriented mutual funds, but like many Asian immigrants, Eric has watched friends and family lose money on the Hong Kong SAR stock market. He prefers to bet his family’s future on real estate and restaurants over which he has more control. Huang reluctantly recommends certificates of. deposit, bank tome deposits that offer a much smaller return--around 5% vs. average long-term returns of double that for growth stock funds. His plan: Keep a third of the $18,000 of saving in a checking account as a cash reserve. Put the other $12,000 in bank CDs.
Get good health coverage. Eric has looked into competitive health care plans and found that for a family of four the monthly cost would be between $ 600 and $ 800--too much, he decided. Most new Asian immigrants don’t carry health insurance, notes Sher Sparano, president of benefits Advisory Service, Inc. in Queen, New York. Sparano suggests that Eric look into the New York State Health Insurance Partnership Plan for small business owners. This state plan subsidizes up to 45% of the cost of health care premiums of an employees or owner (and their families) of a participating small business. For a family of six (which Eric can claim because his parents are dependents), an applicants like Eric with no more than $ 47,708 in income would have to pay only $18,751 a month.
Purchase disability insurance. In the case of a catastrophic accident or illness, Eric would not qualify for federal social security disability payments since he has worked less than 10 years in the U. S. If permanently disabled, he would prove an unbearable drain on his family, which could not survive on Rebecca’s $ 8,400 salary. Huang advises the family to immediately look for a disability insurance policy for Eric is guaranteed renewable and non- cancelable. Price: 100 a month for coverage that would pay 1,500 a month in case Eric is disabled.
Replace your life insurance policy. Many Asian immigrants buy life insurance, but usually the wrong kind. "Eric’s policy needs to be restructured to better cover the family for about the same amount they’re now spending per month," advises Huang. Eric’s coverage should be raised to $ 350,000 because he is the primary breadwinner. The policy for the children should be scraped because they are a poor way to save.
Eric is still against stocks and is not convinced that CDs are a good idea, either. "I have a business to run," he says. "What if I need emergency money for the restaurant" He is, however, very interested in disability insurance and the health insurance plan, particularly since the latter will cover his parents. As for the life insurance advice, he says he wants to study it a bit more before making a decision.
It is most probably for Eric to invest in ______.

A.stocks
B.bank CDs
C.disability insurance
D.real estate
答案: C
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: So
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: he
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company has witnessed the death or illness of its directors recently.

答案: B
填空题

PART TWO
· Read the following text.
· Choose the best sentence from A--H to fill in each of the gaps.
· For each gap 9--14, mark one letter A--H.
· Do not use any letter more than once.

All R&D executives have two major responsibilities: (1) they must ensure that the company is supplied with technically successful projects, and (2) they must select the most promising schemes and ideas for the expenditure of R&D resources. This work is complicated by numerous uncertainties, (9) .
If R&D management can provide a regular flow of new and updated products, the company will benefit in a number of ways. First of all, it will be able to make full use of expensive departmental resources, development engineering and available marketing capacity. In addition to that, a flow of new market winners will provide the business with steady growth income and profits. This can also be important psychologically, for (10) . The R&D department’s job is made more difficult because of the length of time required to complete its research. In the chemical and pharmaceutical industries, for example, (11) and a further six to eight years before it reaches full commercial potential.
To achieve results, (12) . For this reason, the R&D department must take an interest in all aspects of design, application, efficiency, and use of appropriate materials. There is a difference, however, between the development of new consumer products and the development of new industrial ones. In specific need, (13) . In many industrial markets, product development is the result of work done in the research laboratory. (14) , such as a new kind of medicine or higher operating speeds for machines. When the new industrial project has been developed, its performance can be analyzed in terms of customer needs.
A. R&D must define both the areas that should be investigated and the objectives that should be achieved in each area
B. this work is often aimed at a general need
C. and it is so important to do the market research
D. inasmuch as commercial research and development must be based on market forecasts
E. and development is tailored to meet it
F. people who work in R&D department should pay more attention to the market
G. it is often on this basis that those outside the company assess the quality of its management
H. it may take five to ten years before a product is a technical success

答案: B
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.level
B.step
C.part
D.degree
答案: D
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: with
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: what
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company is trying to make profits.

答案: D
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.however
B.therefore
C.furthermore
D.contrarily
答案: B
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: from
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: But
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company saw the rise of its stocks.

答案: E
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.demands
B.commands
C.recommends
D.remands
答案: A
填空题

PART FIVE
· Read the following text.
· For each question 31--40, write one word.

This old house is still (31) pretty good shape, (32) its newly rich owners wanted something bigger and better on their expensive Los Altos lot. Instead of bulldozing the house, (33) other newly rich Silicon Valley owners have been doing lately, they decided to give it away to the city of East Palo Alto.
Roger Gaw is a Los Altos homeowner who wants to donate a house; "We paid a lot of money to have the house moved here. And someone gets a home. So it works (34) everybody."
The idea quickly caught on. A tax break for well-to-do home builders and a nearly free home for a needy family, add up to good business (35) real estate agents. Christina Luiz is a real estate agent in Silicon Valley. "I personally own two homes that could be used. I talked to one of my other builders, and they said, they too, would be willing to donate the homes in perfect condition. And I said, how could I do this, and East Palo Alto told me, we’re getting calls from people who want to donate for tax reasons." (36) no time, the city of East Palo Alto found itself with eight donated houses.
Mayor Sharifa Wilson says of the situation, "One of the dilemmas that East Palo Alto has is that we don’t own any property. (37) the dilemma is what we do (38) the houses that people offer us"
Over the past few decades, East Palo Alto has been an island of difficulty in a world of affluence. Poverty, drugs and drive-by shootings earned it the title "murder capital" a few years back. Now it’s benefiting (39) a trickle down effect from its wealthy neighbors. Once it figures out how to handle the windfall and share the wealth.
Mayor Sharifa Wilson says, "I can imagine at some point everybody will be screaming, give me the house, give me the house. This kind of thing. That’s the only thing I’m a little bit leery about."
For East Palo Alto, it’s an embarrassment of riches. More houses than they know (40) to do with.

答案: what
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: correct
填空题


PART ONE
· Look at the sentences below and following texts.
· Which text does each sentence refer to
· For each sentence 1--8, mark one letter A, B, C, D or E.
· You will need to use some of the letters more than once.

A. Cablevision Extends $ 90 Triple-Service Promotion
Persuaded by popular demand, Cablevision Systems Corp. (CVC) is extending a promotional offer that combines cable TV, Internet and phone service for $ 90 a month. First launched in mid-June, the offer was originally slated to end July 31 but was pushed out to mid-August. Now it seems the company wants hold on to the offer still longer. The Bethpage, N. Y., company hasn’t specified when the promotion will end. During a quarterly conference call last week, Chief Operating Officer Tom Rutledge said simply that the company was continuing to advertise the offer based on its early success. Rutledge also said promotional offers "will continue to play a key role in both building new customer relationships and expanding existing ones."
B. McDonald’ s CEO has new surgery
The chief executive of McDonald’s Corp. is recuperating after another surgery, the world’s largest fast-food company said Saturday. Charlie Bell underwent a procedure Friday to correct a blockage caused by scar tissue build-up from colorectal surgery he had in May, the company said. "I am delighted to report that The procedure was a complete success and that Charlie is resting comfortably," said Andrew McKenna, chairman of Chicago area-based McDonald’s. "During Charlie’s brief recuperation period... there is absolutely no change in the leadership of the company," McKenna said in a statement. Bell, previously chief operating officer of the global fast-food giant, became CEO after the unexpected death in April of former CEO Jim Cantalupo at a meeting in Florida.
C. Google governance flawed
Google Inc. ranks lower in corporate governance than any company in the Standard Poor’s 500 stock index, according to influential proxy adviser Institutional Shareholder Services, said a newspaper report published Monday. ISS, which advises shareholders on how to vote, found 21 weaknesses in the governance practices of Mountain View, Calif.- based Google, which is expected to join the S&P 500, said the Financial Times. These flaws, it said, include a dual-class capital structure that gives effective control to insiders, too few outside directors and a lack of stock ownership guidelines for executives and independent directors. The adviser also found problematic of the company’s compensation plan that lets Google reprice stock options if the stock price falls, as well as loans to company insiders.
D. US Airways talks with pilots collapse
Negotiations between US Airways and its pilots union over a new round of steep concessions collapsed on Monday, heightening pressure on the carrier as it tries to avert insolvency. Jack Stephan, a spokesman for the company’s chapter of the Air Line Pilots Association, said more than a week of discussions between the two sides at the airline’s Arlington, Va. , headquarters yielded little progress. "Since the beginning of these talks, we have witnessed a disturbing trend by the company to seemingly dismiss several significant proposals from our pilot negotiators," Stephan said. "Instead, management has responded by ’piling on’ additional demands to their counterproposals."
E. Mylan wins OK for generic Zoloft
Shares of Mylan Laboratories Inc. rose Monday after U. S. regulators gave tentative marketing approval to the company’s generic forms of popular depression and allergy drugs sold by Pfizer Inc. Mylan said the Food and Drug Administration had granted tentative approval to its forms of Pfizer’s Zoloft, or sertraline, anti-depressant, and Zyrtec, or cetirizine, allergy pill. But Mylan will not be allowed to sell the copycats for several years until Pfizer’s patents on the medicines expire. Zoloft and Zyrtec are among Pfizer’s biggest products, with global 2003 sales of $ 3.12 billion for Zoloft, and $1.34 billion, for Zyrtec.The company is in conflict with its employees.

答案: D
填空题

PART FOUR
· Read the following text.
· Choose the best word to fill each gap.
· For each question 21--30, mark one letter A, B, C or D.

In recent years many countries of the world (21) with the problem of how to make their workers more productive. Some experts claim the answer is to make jobs more (22) . But do more varied jobs lead to greater productivity There is evidence to suggest that while variety certainly makes the workers’ life more enjoyable, it does not actually make him work harder. As far as increasing productivity is (23) , the variety is no an important factor.
Other experts feel that giving the worker freedom to do his job in his own way is important and there is no doubt that this is true. The problem is that this kind of freedom cannot easily be given in the modern factory with its complicated (24) which must be used in a fixed way, Thus while freedom of choice may be important, there is usually very little that (25) to create it. Another important (26) is how much each worker contributes to the product be is making. In most factories the worker sees only one small part of the product. Some car factories are now experimenting with having many small production lines rather than one large one, so that each worker contributes more to the production of the cars on his line It would seam that not only is the (27) of workers’ contribution an important factor, (28) , but it is also one we can do something about.
To what extent does more money lead to greater productivity The workers themselves certainly think this is important. But perhaps they want more money only because the work they do is so boring. Money just lets them enjoy their spare time more. A similar argument may explain (29) for shorter working hours. Perhaps if we succeed in making their jobs more interesting, they will neither want more money, nor will shorter (30) hours be so important to them.

A.worked
B.work
C.working
D.works
答案: C
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: If
填空题

PART SIX
· In most lines of the following text, there is one unnecessary word. It is either grammatically incorrect or does not fit in with the sense of the text.
· For each numbered line 41--52, find the unnecessary word. Some lines are correct. If a line is correct, write CORRECT.

If you watch the news, you hear at all the time about the Dow Jones (41) ______
Industrial Average and other averages that like the S&P 500 or the (42) ______
Russel 2000. These are "market averages" designed to tell you how
companies are traded on the stock market are doing in general. (43) ______
The Dow Jones Industrial Average is simply the average value of 30
large, and industrial stocks. Big companies like General Motors, (44) ______
Goodyear, IBM and Exxon are the kinds of companies that make up
this index. See this page for details on how that the average is (45) ______
calculated. See this page for a list of the companies in the average.
The thing to understand is that the Dow Jones Industrial Average is
nothing magic--which someone has chosen 30 companies and (46) ______
he averaged their values together by following a specific formula. (47) ______
That’s all what it is. (48) ______
There are all sorts of averages out there. The S&P 500 is the average
value of 500 different large companies. But the Russel 2000 tracks (49) ______
the average of 2,000 smaller companies. And there are others.
What these averages tell you is the general health of stock prices as (50) ______
a whole. If the economy is "doing well", then the prices of stocks as a (51) ______
group tend to rise. If it is "doing poorly", prices as a group tend to fall.
The averages show you these tendencies in the market as a whole. If
a specific stock is going down but while the market as a whole is going (52) ______
up, that tells you something. Or if a stock is rising, but is rising faster
or slower than the market as a whole, that tells you something as well.

答案: but
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