UNIT 3: Language and skills test

Name:_________________________________

1 The company plans on …………………. early next year.

LANGUAGE (diversify)
2 The …………………. is that we will secure a deal soon.
Lesson 3.1 Vocabulary
(like)
C1 Business Higher Reading Part 4 3 There is a strong …………………. that our rivals will go
bust soon. (possible)
1 Choose the correct option.
4 Investors are …………………. to put more money in
1 Can you get me a ballpark …………. on the projected without seeing a return. (like)
5 Our customers are bound …………………. new flavours
profits this quarter?
a point b guess c addition d figure to choose from. (want)
2 In negotiations, you might need to make a …………. 6 I had never ………………….my future like this.
to secure the deal. (envisage)
a trade-off b trade-in c trade-out d trade-by
3 We have a number of …………. willing to inject more
money into the project.
a witnesses b fans c backers d employees
4 If you don’t take risks, you won’t …………. the
rewards.
a make b reap c take d trade
5 We need to ensure we are working on a level
…………. field.
a trading b playing c giving d selling
6 The CEO is not interested in making high-………….
investments.
a risk b reward c danger d value
7 Can you run a report on …………. on investment for
Charles?
a yield b revenue c return d reap
8 What we need is to …………. a good trade with our
potential partners in America.
a take b do c sell d make
9 Some companies prefer to …………. in different
currencies, but we prefer just one.
a be b deal c make d stock
10 It can be tough on the …………. floor, but it’s where
the best deals are made.
a financial b stock c trading d foreign

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Lesson 3.2 Grammar

2 Change the form of the word in brackets to fit
each sentence. You may need more than one
word.

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 UNIT 3: Language and skills test

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the OpEx as well as other 4…………………. such as

payroll and utilities. In the executive summary, the
7 The CEO is on the point of …………………. a statement writer will often 5…………………. what will happen in the
about the future. (make) future.
8 We are about …………………. a huge shift in
expectation. (see) 1 a fall b loss c down d drop
9 Most traders can’t …………………. what the market is 2 a sell b buy c income d salary
going to do next. (anticipate) 3 a CapEx b CEO c net d CV
10 Our CFO had …………………. us to do well this quarter 4 a variance b expenses c dues d changes
and she was proved right. (expect) 5 a probable b forecast c likely d expected

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Lesson 3.4 Useful language

3 [BP_C1_Test_03_01.mp3] Choose the best
response to the sentences you hear.

1 a Of course, we need to be in agreement.

b I agree with the key point.
c Where is the information?
2 a That doesn’t look like a good deal for us.
b The manufacturers will want a good deal.
c Sounds like a win-win situation for all concerned.
3 a I agree we need some more clarification on this.
b I think we’ve reached a unanimous agreement.
c Let’s move on and sign the contract.
4 a No, we need to postpone the meeting I’m afraid.
b I think so – it seems to work for both of us.
c Yes, we can shorten the lease if need be.
5 a Yes, we ought to ask for more.
b No, I think we could do better.
c Yes, we shouldn’t need to compromise.

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Lesson 3.5 Useful language

LinguaSkill Business Advanced

4 Complete the text with one word in each gap.

The income statement is an important document in

the day-to-day life of a business. It demonstrates the
company’s profit and 1…………………. over a certain
period of time. Income statements vary between
businesses, but usually they would show the
2
…………………. of sales at the top of the statement.
Other important factors include the 3…………………. and
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 UNIT 3: Language and skills test

Name:_________________________________

SKILLS
Reading
Listening LinguaSkill Business Advanced
C1 Business Higher Listening Part 2
6 Read the following article about the launch of a
5 [BP_C1_Test_03_02.mp3] You will hear seven new business. Choose the correct option
people talking about investments they have according to the text.
made. Match the extracts to the type of business
or product. You will hear the recording twice. Goldman Sachs plans to launch stocks-and-shares
ISA

A Mobile phones
Goldman Sachs is poised to enter the UK retail
B Health clubs investment market for the first time with a stocks-and-
shares Individual Savings Account (ISA) that will pit
C Books for children the Wall Street investment bank against the likes of
Hargreaves Lansdown and AJ Bell.
D Renewable energy

E Construction
The bank’s plan to offer the tax-free investment
F Oil production accounts, which have been hugely popular in the UK
since they were first introduced in the late 1990s,
G Mobile computing marks the latest expansion of Goldman’s consumer
bank, Marcus. Marcus, which was launched in the
H Gaming US in 2016, began offering savings accounts in the
UK last year.
I Cosmetics

J Food production
Goldman’s push into consumer banking is central to
1 …………. efforts to lift revenues and diversify its source of
funding. By offering industry-leading interest rates,
2 ………….
Marcus has rapidly raised more than $50 billion in
3 ………….
retail deposits, including $12 billion in the UK. Most
4 ………….
of the money is used to fund the investment banking
5 …………. activities on which Goldman built its reputation. In the
6 …………. UK, however, banks that hold more than £25 billion –
7 …………. about $31 billion – in customer deposits for a
sustained period are required to legally separate their
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retail and investment banking operations.

The appeal for Goldman of launching the ISA is that

it will generate fees, but the customers’ money held
in the investments will not count towards the £25
billion deposit threshold, one of the people said. If
Marcus hits the threshold, Goldman would have to
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 UNIT 3: Language and skills test

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comply with the UK ‘ringfencing’ legislation. Marcus

has quickly begun to approach the threshold after
offering yield-starved savers the highest interest
rates on the market for instant-access accounts.
Earlier this month it cut its introductory interest rate
from 1.5 percent to 1.45 percent, signalling less
appetite to chase more deposits as the £25 billion
ceiling looms. A stock-and-shares ISA is the ‘logical
next step’ for Marcus, according to two employees
briefed on the plans.

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 UNIT 3: Language and skills test

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b must distinguish between different banking

operations.
1 What point is the first paragraph making?
c need an excellent reputation.
a Goldman Sachs has already established itself in
the UK retail investment market.

b Goldman Sachs has never offered an ISA before. 7 Why is Marcus approaching the deposit threshold?

c Goldman Sachs will have competition in the UK a It is generating too much in customer fees.
retail investment market.
b It ‘ringfences’ its revenues.

c It offers high rates of interest.

2 What does ‘they’ refer to in the second paragraph?

a consumers b ISAs c the bank

8 According to two employees, the stock-and-shares
ISA

3 The consumer bank Marcus a is too brief to generate revenue.

a does not operate in the UK. b is a step too far for their company.

b has been growing. c is a sensible move for Marcus.

c was launched at the same time as Goldman Sachs. __/8

4 What is one reason for Goldman’s push into

consumer banking?

a It wants a variety of where its funds come from.

b It wants to diversify its portfolio.

c It needs to stabilise its business.

5 The money raised by Marcus

a is mostly put back into the business.

b was mostly raised in the UK.

c is helping to build Goldman’s reputation.

6 UK banks with more than £25 million in customer

deposits

a should declare the fees they collect.

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 UNIT 3: Language and skills test

Name:_________________________________

Writing __________________________________________

C1 Business Higher __________________________________________

__________________________________________
7 You work for a small biscuit making company
__________________________________________
in the finance department. It is part of your role to
write a budget report for the board of directors, __________________________________________
including suggestions for future forecasts. __________________________________________
__________________________________________

Item Budgeted Actual Variance

__________________________________________
__________________________________________
Food sales £26,225 £26,483 £258+ __________________________________________
__________________________________________
Raw
materials £9,099 £10,210 £1,111+ __________________________________________
__________________________________________
Payroll
costs £6,984 £6,984 0
__________________________________________
__________________________________________
Other __________________________________________
controllable
costs £2,871 £2,301 £570- __________________________________________
__________________________________________
Occupancy
costs £3,888 £3,900 £2+
__________________________________________
__________________________________________
Depreciatio __________________________________________
n £906 £906 0
__________________________________________
Profits £2,477 £2,182 £295- __________________________________________
__________________________________________
Total
expenses £26,225 £26,483 £258+
__________________________________________
__________________________________________
__________________________________________
__________________________________________
Using the information above for the month of
July, write your budget report, including __________________________________________
suggestions for future forecasts. __________________________________________

Write 200–250 words. __________________________________________

__________________________________________
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__________________________________________ __________________________________________
__________________________________________ __________________________________________
__________________________________________ __________________________________________
__________________________________________ __________________________________________

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 UNIT 3: Language and skills test

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