Translate these sentences. Define the tense form of the predicate. Compile special questions to the underlined words.

1. The general areas of finance are business finance, personal finance, and public finance.

2. Finance includes saving money and often includes lending money.

3. Loans have become increasingly packaged for resale.

4. The investor can then hold the debt and collect the interest.

5. Financial instruments allowed many forms of securitized assets to be traded on securities exchanges.

6. Banks became the main facilitators of funding through the provision of credit.

7. The bank lends money out to individuals or corporations for consumption or investment and charges interest on the loans.

5. Write degrees of comparisons of the following adjectives using the words much, less, the most, the least. Use them in the sentences of your own.

General, personal, careful, important, expensive, profitable, successful.

 

6. Explain these words and word combinations in English:

finance, to save money, to lend money, investor, bonds, to invest money, financial instrument.

 

Answer the questions on the text.

1. What is finance?

2. What are the general areas of finance?

3. What does finance include?

4. What are the concepts the field of finance deals with?

5. Who are the participants of financial process?

6. What does each of them do?

7. What does the resale of loans mean?

8. What are bonds? What can investors do with bonds?

9. How do banks facilitate funding?

10. What other facilitators appeared and why have they become important?

11. Why should financial assets be managed carefully?

12. Where can securitized assets be traded?

PRACTICAL LESSON9. TYPES OF FINANCIAL OPERATION.

Read and translate the text

Personal Finances

Many people regard financial security as the most important thing in family finances. This is not the same thing as being rich. It means being freed from the need to think about money, living within your means. For day-to-day living you need ready cash but you also need a bit in reserve for a rainy day. The first thing to think about is your cur­rent account and how much is in it. Credit cards can be a helpful way of handling unexpected expenses, but credit is always costly, and of course it's just another form of debt.

For some people, the English and the Americans, however, living on credit is a normal way of life. They believe that credit enables them to enjoy the use of goods and services before they have fully paid for them. Such people are not afraid to use consumer credit (credit from suppliers, hire purchase and loans from banks) because they have an income. If they want to buy a house they almost always borrow the money in the form of a mortgage from a building society or a mortgage bank. They pay for expensive things in installments by means of a hire purchase plan.

People earn money in different ways. First of all they get an income from employment, then from keeping money in a saving account with a bank, from renting property, and from investing in shares in the stock market.

People who are paid by the hour get wages. People who are paid on an annual basis get salaries and people, paid for a particular service, get fees.

The worst-off people are the unemployed and the homeless.

For those living at a subsistence level, even buying essentials is a strug­gle. People on low incomes sometimes take out loans, borrow money from banks. Very often they are unable to cope with repayments and in­terest on loans. Banks are not willing to lend money to such people.

 

Vocabulary

finance - финансовоедело, финансы

consumer credit - потребительский

toregard — считатькредит

financial security - финансовая обеспечение

to borrow — занимать, заимствовать

mortgage — закладная

to be freed from — быть свободным от чего-либо

building society — строительное общество

means — средство, способ

to pay in installments — платитьврассрочку

to live within smb's means — житьпосредствам

hirepurchase — покупка или продажа в рассрочку

employment — работа, занятость

in reserve — в запасе

saving account — сберегательный счет

current account — текущий счет

to rent — сдавать в аренду

credit card — кредитная карта

property — собственность

to handle — обращаться с чём-л., с кем-л.

share — акция

stockmarket — рынок акционерного капитала

debt — долг

on credit — вкредит

wages — заработная плата

annual basis - годичная основа

essentials - предметы первой необходимости

salary — жалованье, оклад

fee - гонорар

to соре with - справиться

worst-off - находящийся в худшем положении

repayment - погашение (долга)

interest on loan - ссудный процент

to lend (lent, lent) - даватьвзаймы