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Look at the statements below and the five extracts from newspaper articles about Chinese CPI figures in five months on the opposile page.
Which extract(A, B, C, D or E)does each statement(1-8)refer to?
For each statement(1-8), mark one letter(A, B, C, D or E)on your Answer Sheet.
You will need to use some of these letters more than once.
There is an example at the beginning(0).
Example:
0 In the last two months, CR growth rate dropped.
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A
The CPI surged 8. 7 percent in February year on year, the highest rise for this key inflation figure in over a decade. The February figure was 1.6 percentage points higher than that of January. Normally, a 3-percent growth of CPI is regarded as inflation. The CPI growth rate cast a shadow over the Chinese economy and put the government in a tight spot. The government could continue to take monetary measures such as interest rate hikes, but it would be against the international trend of interest rate cuts since the global economy has been on the recession track due to the U. S. subprime mortgage crisis. Further rate hikes would draw in speculative currency, which might lead to problems such as liquidity.
B
The consumer price index(CPI), the barometer for inflation, grew 7.7 percent in May year on year, 0.8 percentage points lower than that in April, according to the National Bureau of Statistics(NBS). It came as no surprise for financial institutions that the CPI dropped in May month on month, as food price, a major trigger for this round of inflation, dropped considerably thanks to an abundant summer supply. There is no quick fix yet to cure inflation. But Song Guoqing, economics professor of Peking University, stated the most efficient and simple way to control inflation is to control money supply. He called on the central bank to strictly reinforce stringent monetary policy to resolve inflation pressure.
C
The consumer price index(CPI), the barometer for inflation at the retail level, grew 6. 3 percent in July year on year. The year-on-year growth rate slowed compared with the CPI’s 7.1-percent growth rate in June. But month-on-month growth accelerated 0. 1 percentage point from June to July. Inflation pressure also gained momentum after dropping in May and June. Food prices, which account for one third of the CPI basket and are considered as a major trigger of this round of inflation, rose 14.4 percent in July.
D
“Combating inflation“ ceased to be the government’s priority as the consumer price index(CPI)growth rate continued to drop. Instead, the government has switched the focus of the country’s macro-control policies to “maintain growth“ against the backdrop of the global economic downturn. In September, the CPI grew 4.6 percent year on year, but fell 0.3 percentage points compared with that of August. The CPI growth rate dropped for five consecutive months, demonstrating that government efforts to cap runaway inflation were paying off. Economists expect inflationary pressure to continue to ease in the fourth quarter.
E
The consumer price index(CPI), the barometer of inflation, was down 0.3 percent in October compared with that of September. The National Bureau of Statistics(NBS)said the CPI’s year-on-year growth in October was 4 percent, the lowest growth rate in 17 months. The government has made “reining in inflation“ its top economic priority since the middle of last year, when citizens were hit with soaring costs of living. Afterwards, six rounds of interest rate hikes and other measures to cool the economy paid off as economic growth slowed amid the global financial turmoil.
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Read this text about an brief introduction of advertising.
Choose the best sentence from the opposite page to fill each of the gaps.
For each gap(9-14), mark one letter(A-H)on your Answer Sheet.
Do not use any letter more than once.
There is an example at the beginning(0).
Advertising
The primary function of advertising is to communicate marketing objectives to selected target audience. It is used to accomplish a number of tasks, using different media vehicles, reaching diverse audience, and gaining interest with a number of creative approaches. However, despite the seemingly endless channels for utilizing advertising, it is basically a marketing communication tool. When we examine unsuccessful advertising campaigns, we often find that advertising was used to accomplish inappropriate tasks. Successful advertising must be oriented to specific objective.(0).G...
Effective advertising is an extension of basic marketing plans and is derived from it. However, advertising goals are not the same as marketing goals. The marketing staff sets the marketing goals or objectives.【P1】______ It also determines how these resources will be distributed to specific target markets and what sales objective can be expected over time and geography.
Advertising goals are communication objectives designed to reach the target audience with the appropriate message. Ad. goals are based on marketing objectives, but they are not the same as marketing goals.
Note that advertising goals are based on improving communication and consumer attitudes toward a product.【P2】______Obviously, even sophisticated corporations of ten confuse marketing and advertising goals.
Advertising is the communication arm of the marketing process.【P3】______ Advertising has many roles. It is designed to dispose a person to buy a product, to change minds, or even to advocate less consuming(“ demarketing“).【P4】______ Most advertising, however, is for the marketing of goods and services.
Advertising is also the everyday culture of virtually every American. It is estimated that the average person sees or hears as many as 1,200 ads and commercials each day.【P5】______ It mirrors this environment and also brings about subtle changes in the behaviour of the publics that uses it. It is no wonder that advertising is one of the. most scrutinized of all business enterprises.
【P6】______ Advertisers are viewed in many ways by the public they serve. Manufacturers are asking for more tangible evidence of advertising’s role in the selling process, and the media are constantly seeking higher advertising rates to cover spiritual expenses. At the same time, the audiences that advertisers seek are becoming even more fragmented. Consumers, despite seemingly fascinated with advertising’s creative process, tend to become more cynical and disbelieving about its claims.
Example:[*]
A It is a method of delivering a message from a sponsor, through a formal communication channel, to a desired audience.
B It may be used to help elect a candidate, raise money for charity, or support a cause.
C The marketing department decides how to allocate resources to various tasks, including advertising.
D Advertising is part of the social, cultural, and business environment.
E Today, advertising is functioning in a changing economic and social climate.
F It is interesting to note that a survey indicated that a majority of companies wanted to measure advertising success based on sales.
G Before we can determine advertising objectives, it is advisable to distinguish between marketing and advertising goals.
H We’re now living in an advertising age.
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Read the following article about recruitment process outsourcing and the questions on the opposite page.
For each question(15-20), mark one letter(A, B, C or D)on your Answer Sheet.
Recruitment Process Outsourcing
Recruitment Process Outsourcing—better known as RPO— has gained significant market momentum in recent years. Yet it has taken a while. Given that employers have been seeking help in their recruiting efforts for decades, it seems odd that the rise of RPO as a service solution has taken so long. Isn’t outsourcing of non-core functions a widely accepted business strategy? Isn’t recruiting one of the largest line items for many organisations and not a core function?
Today, however, organisations that consider outsourcing their recruiting efforts can pore over and compare tangible outcomes seen by those successful early adopters of RPO. But tread lightly. There have been a number of very public RPO failures where results have fallen woefully short of expectations, sending business leaders and the marketplace back into the boardroom to debate yet again the viability and sustainability of the solution. Can RPO be truly successful? If there are companies out there who are reaping the proposed benefits of outsourcing, what are they doing that others are not? The fact is there are common elements—let’s even call them tenets—that when followed, can greatly increase the effectiveness and ultimate outcomes of the RPO solution. Before we look at those tenets, however, it’s important to understand the history of RPO.
Recruitment process outsourcing is the culmination of an evolutionary process that started with third-party recruiters engaged at the line manager level or as an adjunct to an organisation’s internal staffing initiatives. Utilising the approach was simple: call your preferred recruiter(s)with a job description and expect screened candidates to be sent to you. Overall, this process continues to serve as a highly scalable option in many talent acquisition strategies, but it is extremely costly. Moreover, based on the transactional nature of the relationship, it comes with high risk and little accountability for results.
Companies soon realised they could bring the same talent in-house as contractors— their intentions clearly centered on achieving the same scalability but with reduced cost and greater control of the outcomes. In practice though, this model proved to be almost as expensive as high agency utilisation and surprisingly, with co-employment and other new issues, even more complex. Worse yet, the rates for contractors continued to climb as corporate recruiters began to seek out these new, more highly paid “ nomad“ positions instead of their corporate roles. The desired “direct sourcing“ impact these recruiters were supposed to have never materialized as skills, and innovative approaches floundered without the access to best practices and innovative techniques that contingency recruiting agencies cultivated.
At the same time, traditional recruiting providers began to assume a more prominent role in assisting their customers with new ways to handle huge spikes in hiring. Although this represented a new challenge for both companies and providers, the solutions were primarily project-based and, therefore, rarely focused on achieving strategic improvements.
Over time, the RPO paradigm changed to finally justify its title, while providers literally began assuming delivery of an organisation’s internal staffing function. This early model was fraught with mistiming because most organisations treated RPO solutions like earlier transactional recruiting solutions. In addition, most providers simply weren’t ready to deliver at the levels they had signed up for. As the burgeoning industry learns from itself, organisations have honed their approach to RPO vendor management and some providers have refined their solutions to near industry-standard levels.
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Read the article below about mortgage adviser.
Choose the correct word to fill each gap from A, B, C or D on the opposite page.
For each question(21-30), mark one letter(A, B, C or D)on your Answer Sheet.
There is an example at the beginning(0)
MORTGAGE: PRICELESS ADVICE
Advisers work for banks, building societies, estate agents, mortgage and insurance brokers and also(0). D.... independent mortgage advisers. Some gain further qualifications to become a financial adviser, who can【C1】______a sizeable pay rise.
Common【C2】______is as a customer service adviser in a bank or as an insurance technician or mortgage administrator in a brokerage firm,【C3】______ to mortgage advice as you gain qualifications【C4】______ by the Financial Services Authority(FSA).
Required qualifications【C5】______mortgage advisers include the Chartered Insurance Institute(CII)【C6】______ in mortgage advice and the School of Finance certificate in mortgage advice and practice. It is possible to study for these by distance learning. This is a career that requires advisers to【C7】______ up to date with new financial products and regulations. CII and the ifs School of Finance offer courses and formal【C8】______professional development schemes.
“There are【C9】______ highs and lows with this job but the highs far outweigh the lows. You have to be able to take frustration and then move on and find the answers. What you really must have is an understanding of the wider economy and the industry. Outside of that you have to be a great listener and be able to【C10】______with your clients and you must be a people person. New clients are buying you as much as the service.“ said Paul Newman, senior mortgage and protection consultant at independent mortgage adviser John Charcol’s head office in Chancery Lane, London.
Example:
A to B for C of D as
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Read the article below about business ethics.
For each question(31-40), write one word in CAPITAL LETTERS on your Answer Sheet.
There is an example at the beginning(0).
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Business Ethics
Business ethics are a form of applied ethics that examine ethical principles and moral or ethical problems(0). arise in a business environment. Applied ethics are a field of ethics that deal【B1】______ethical questions in many fields such as medical, technical, legal and business ethics. Business ethics are relevant 【B2】______the conduct of individuals and also relevant to the conduct of the business organisations as a【B3】______ In the increasingly conscience-focused marketplaces of the 21st century, the demand for more ethical business processes and actions【B4】______ increasing. Simultaneously, pressure is applied on industry to improve business ethics through new public initiatives and laws. Businesses can often attain short-term gains by acting in an unethical fashion; however,【B5】______ antics tend to undermine the economy over time.
Business ethics can be【B6】______ a normative and a descriptive discipline. The range and quantity of business ethical issues reflect the degree to【B7】______business is perceived to be【B8】______ odds with non-economic social values. Historically, interest in business ethics accelerated dramatically during the 1980s and 1990s, both with major corporations and within academia. For example, today most major corporate websites lay emphasis on commitment【B9】______ promoting non-economic social values under a variety of headings. In some cases, corporations have redefined their core values【B10】______ the light of business ethical considerations.
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Read the text below about a business letter written to the sole supplier.
In most of the lines(41-52)there is one extra word. It either is grammatically incorrect or does not fit in with the sense of the text. Some lines, however, are correct.
If a line is correct, write CORRECT on your Answer Sheet.
If there is an extra word in the line, write the extra word in CAPITAL LETTERS on your Answer Sheet.
The exercise begins with two examples(0 and 00).
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A Letter to the Sole Supplier
Dear Supplier,
0 Thank you for your letter about the price of supply.
00 I am writing to express concern about the price increase you have been requested
【M1】______for the raw materials we are buying from you. It is much more higher than what we
【M2】______can afford it. Besides, we find it hard to explain the increased prices to our customers.
【M3】______I believe you won’t be feel happy if your price increase puts our organisation out
【M4】______of business and thus deprives you of an important customer.
【M5】______We continue to feel that your supply would interest our customers, but we would
【M6】______like to ask you to consider on making a concession in price to make this possible. To
【M7】______meet the demands of our budget, we are able to accept a price increase of no more
【M8】______than 5%. However, if you insist on your rate of increase number, we are going to put
【M9】______extraordinary efforts into finding alternatives to you. In some other words,
【M10】______your currently short-term profit will harm our long-term relationship.
【M11】______I hope you understand our position and that you will consider accepting our proposal.
【M12】______Thank you for considering on my request. I look forward to hearing from you.
Yours faithfully,
