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Exercise 4. Answer the following questions.

1. What are the businesses called that distribute or deal in money?

2. What are the most familiar financial institutions?

3. What services does a commercial bank offer to its customers?

4. What do the borrowers do sometimes to back up the loan?

5. What types of accounts do commercial banks offer to their customers?

6. What does the interest rate depend on?

7. What kind of technology are banks using now?

8. What are the electronic funds transfer doing with money?

9. What new services are the automatic teller machines providing for the customer?

10. What innovation makes it easy for the customer to handle all kinds of financial transactions outside his home state?

11. What process in modern banking is urging the banks to diversify?

Exercise 5. Fill in the blanks with adjectives many and much:


1. _ ___________insurance companies protect their customers against risk.

2. It takes one___________money to join a credit union.

3. Startinga business without financial support from the bank may cause you

_____________ trouble.

4. Banks in the USA are subject to____________government regulations.

5. Savings and Loan Associations attract____________small savers who

do not want to have any risk.

Exercise 6. Substitute the words in the statement with the given synonyms.

Statement:There are many commercial banks that offer their customers a wide range of financial services.

Example:There are a lot of commercial banks that offer their customers a wide range of financial services.


financial institution clients individuals and businesses

provide for banking render

different were a number of

Statement: Banks are now using computer technology to perform various financial transactions.


Example:Financial institutions are now using computer technology to perform various financial transactions.


  business   electronic
  numerous deals these at present     employing methods handle

Exercise 7. Translate into English.


1. Существуют ли бесплатные банковские услуги? Нет, бесплатных банковских услуг не бывает. 2. Многие банки устанавливают плату за услуги. 3. Компании с хорошим финансовым положением получают некоторые привилегии. 4. Много ли денег на вашем расчетном счете? Да, много. 5. В моем справочнике один коммерческий банк и три страховые компании.

Exercise 8. Listening.

Before you listen discuss the following statements. How do you think whether they are true or false? Then listen and check if you were right.

1. The earliest kind of money was used about 3,000 years ago.

2. Shells were used a kind of fiat money.

3. The first metal coins appeared in Greece.

4. The first coins were round.

5. Paper money first appeared in China.

6. The idea of paper money traveled quickly to Europe.


Exercise 9. Read the Dialogue.


Dan and Sally, university tutors, are discussing their financial problems

D: Hello, Sally!

S: Hi, Dan! Happy to see you again. How are things with you?

D: Not bad. And how are you doing?

S: I've a problem, you know. I've just wrecked my new automobile. Had an accident. And I need money to have it repaired.

D: Oh, I think I can help you. Haven't you heard about the credit union that we formed?

S: Why, no! Could you tell me what it is?

D: It was a great idea! The members of our department pooled their money and now anyone can apply for a loan if necessary.

S: And may I join the union?

D: Of course you may. As a rule, a credit union consists of members of a specific group, such as university employees. And we belong to the same university.

S: Great! And how much do I have to pay?

D: Well, we require a minimum deposit - something about 100 dollars. And our credit union pays a higher interest rate than many other financial institutions pay on similar accounts.

S: That also sounds good. And who manages the pool?

D: I do.

S: Fine! Then I'll have my car repaired pretty soon!

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