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1、1.(Listen to the audio recording for the question.)A. Buy shares when prices are comparatively low.B. Buy shares while they are rising.C. Start buying shares as quickly as possible.D. Buy a million shares of a high-tech stock. Your answerCorrect answerAA2.(Listen to the audio recording for the

2、question.)A. Nasdaq takes an average of all its stocks while Dow does not.B. Dow takes the average of its all its stocks while Nasdaq does not.C. Neither uses the average of its stocks.D. Both take an average of all their stocks. Your answerCorrect answerDD3.(Listen to the audio recording for t

3、he question.)A. A depression is approaching.B. The stock market may crash.C. The stock market is stable.D. The stock market is rising fast. Your answerCorrect answerCC4.(Listen to the audio recording for the question.)A. He believes in the importance of getting secret information.B. He believes

4、 it is time to buy online stocks.C. He agrees with the woman.D. He disagrees with the woman. Your answerCorrect answerDD5.(Listen to the audio recording for the question.)A. Many high-tech companies have been launched.B. Many high-tech companies have been delisted.C. One should buy stocks liste

5、d on the Nasdaq.D. One should buy stocks listed on the Dow. Your answerCorrect answerBBPart II Directions: Listen to the passage(s) three times. When the passage is read for the first time, listen for the general idea. When the passage is read for the second time, fill in the blanks numbered fr

6、om S1 to S7 with the exact words you hear. For blanks numbered from S8 to S10, write down either the exact words you hear or the main points in your own words. When the passage is read for the third time, check your answers. Just like an S1 , a mutual fund can also buy or sell shares of a company

7、9;s stock. A mutual fund is a group of stocks and bonds that is S2 by a group of people. A financial company is in charge of the mutual fund, which is S3 by one or more portfolio managers. The people who S4 in mutual funds are also known as shareholders because a unit of S5 in a mutual fund is calle

8、d a share. A mutual fund uses the cash invested by its S6 to purchase stocks, or in some case, bonds. The fund's shareholders are indirect S7 in that portfolio of stocks or bonds. Since a mutual fund may contain the stocks of many companies in its portfolio, S8 . Most mutual funds are open-end f

9、unds. This means that at the end of every day, S9 . A mutual fund can also be a closed-end fund. The sponsor of a closed-end fund registers and issues a fixed number of shares at the initial offering, similar to a common stock. Investors then can buy or sell these shares through a stock exchange. S1

10、0 .  Your answerCorrect answer1individual2owned3managed4invest5ownership6shareholders7investors8shareholders are often able to own a greater and more diverse number of stocks than if they invested directly in the stock market9the investment management company sponsoring the fund issues new shar

11、es to investors and buys back shares from investors wishing to leave the fund10The sponsor does not buy back or issue shares after a closed-end fund is launched, so the investor must trade them through a brokerPart III Directions: Listen to the following recording, then choose the correct answers to

12、 the questions. You will hear the recording twice. After the first playing, there will be time for you to choose the correct answers. Use the second playing to check your answers. 1.Which of the following would be the best title for the passage?A. Results of the wrongdoing by dishonest companies.B.

13、The worst American stock market since 1987.C. The necessity of government inspection of companies financial reporting.D. Reasons for the declining US stock market. Your answerCorrect answerDD2.How did the Dow Jones index behave this week?A. It had one of the largest gains.B. It remained stable.

14、C. It dropped just a little.D. It fell sharply. Your answerCorrect answerAA3.How many companies are mentioned as giving false financial reports?A. One.B. Two.C. Three.D. Four. Your answerCorrect answerCC4.What is the government doing regarding to the false reporting?A. Dismissing officials

15、 involved in false financial reports.B. Investigating the financial activities of some big companies.C. Delisting some big companies from the stock market.D. Drawing up laws to punish the wrongdoing of some companies. Your answerCorrect answerBB5.According to the passage, what has caused the de

16、clining stock market?A. Wrongdoing by American companies.B. Excessive investment in telecommunications.C. Both A) and B).D. Neither A) nor B). Your answerCorrect answerBCPart IVDirections: Choose the right answer. 1.If you jump on an IPO, hoping it will go up, it's a bit like betting on a r

17、acehorse. I mean, _ it doesn't go up?A. how ifB. what ifC. how aboutD. what about Your answerCorrect answerBB2.Online share trading has totally changed the stock market and the lives of investors. _ the Internet and be your own broker!A. ConnectB. LinkC. Hook up toD. Hook over Your answerCorrect answerCC3._ about $500, you can open an account and begin buying and selling shares from your own home, 24 hours a day.A. ForB. ToC. InD. At Your answerCo

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