When IBM announced an overhaul of its pension plan for employees in America last week, it joined a parade of employers that are shifting more responsibility for saving for retirement on to workers. For many Americans, of course, this is nothing new: millions of them have been managing their retirement assets in individual accounts for years. Nevertheless, in both America and Britain the closure of paternalistic corporate defined benefit programmes, in which pensions depend on earnings and years of service, is accelerating--even at healthy companies such as IBM.
To the extent that this creates and encourages individual choice and responsibility, it is something to welcome rather than to fear. Many other countries, facing huge state-pension obligations, would also like to see their citizens assume a bigger role in providing for their own retirement. Even so, the trend raises an important question: how much do people due to take on these new responsibilities know about basic financial concepts?
The answer seems to be: not much, and less than they think they do. Studies show that many people overestimate their knowledge of everything from inflation to risk diversification and compound interest. One survey in Australia found that 37% of people who owned investments did not know that they could fluctuate in value. In America 31% did not know that the finance charge on a credit-card statement is what they pay to use credit. Britain’s Financial Services Authority will release the results of its own survey on financial literacy in the next month or two.
Even edtd cated professionals may know the basics but see no need to keep up to date--having no idea of the interest rates on their credit cards, the fees on their mutual funds or how their investments are doing. But in both America and Britain low personal saving rates (negative in America, indeed) and record numbers of personal bankruptcies do not bode well. If people are to take charge of their pensions, shouldn’t they know a little more?
In the end, ignorance could rebound on governments: if people save too little for old age, the state may have to provide for them willy-nilly. Governments are taking this very seriously, says Barbara Smith of the Organisation for Economic Co-operation and Development, which recently produced a report on global financial literacy. Just this week the British government launched an online debt calculator for overstretched consumers and a money-management course for teenagers that will be offered in schools across the country later this year. New Zealand is another country trying to catch its people young: one official financial-information website there (www. sorted, org. nz) includes an online game on Money Island. [438 words]
1. It is informed in the text that______.
A. IBM cannot help but overhaul its pension plan ，examda.com
B. IBM takes much responsibility for saving for retirement
C. workers will assume more financial responsibility for their old age
D. most Americans have taken on responsibility for saving for retirement
2. Corporate defined benefit programmes will come to an end primarily because______
A. most companies are not so healthy as IBM
B. it can help companies relieve their pension obligations
C. millions of Americans have opened their individual accounts for years
D. more factors should be taken into consideration for a healthy pension plan
3. If one is to assume more financial responsibility, he should have more knowledge about______
A. risk diversification ，examda.com
B. basic financial concepts，examda.com
C. how much he pays to use credit
D. the fluctuation in value of his investment
4. It can be inferred from the text that______
A. even professionals are short of financial information
B. personal saving rates will no doubt increase remarkably
C. professionals are usually better prepared for their retirement
D. there will be less personal bankruptcies in both America and Britain
5. The main idea of this text is that______
A. most people are very ignorant about investment
B. individuals should have more choices and responsibility
C. individuals should be better prepared for their retirement
D. government should provide official financial-information 難句透析
①[When IBM announced an overhaul of its pension plan for employees in America last week]，it joined a parade ofemployers[that are shifting more responsibility for saving for retirement on to workers]．
【結(jié)構(gòu)】第一個方括號部分是“when”引導(dǎo)的時(shí)間狀語從句。代詞“it”是主句主語，指“IBM”。第二個方括號部分是“employers”的后置定語從句。
【釋義】一大批企業(yè)正把承擔(dān)養(yǎng)老金的責(zé)任更多地轉(zhuǎn)嫁到雇員身上。美國國際商用機(jī)器公司就成了這樣的企業(yè)。上周該公司宣布要徹底改革其在美國的雇員的養(yǎng)老金制度。
②Nevertheless，in both America and Britain the closure of paternalistic corporate“defined benefit”programmes， Ein which pensions depend on earnings and years of service]，is accelerating even at healthy companies such as IBM．
【結(jié)構(gòu)】本句中主句的主語是“the closure”，謂語動詞是“is”。方括號部分是“programmes”的后置定語從句。
【釋義】然而，在美國和英國，甚至包括像美國國際商用機(jī)器公司那么出色的企業(yè)，都在迅速終止家長制企業(yè)所實(shí)行的那種規(guī)定非常明確的依據(jù)收入和服務(wù)年限計(jì)算養(yǎng)老金的制度。
③To the extent[that this creates and encourages individual choice and responsibility]，it is something to welcome rather than to fear．
【結(jié)構(gòu)】介詞短語“To the extent…”用做全句的狀語。方括號部分是“extent”的同位語從句。代詞“this"指前一句，即注釋②那句的內(nèi)容。
【釋義】這樣做，不僅給個人提供更多選擇，而且鼓勵個人承擔(dān)更多責(zé)任。從這個意義上說，這不是感到可怕，而是值得歡迎的事。
④Even so，the trend raises an important question：how much do people[due to take on these new responsibilities] know about basic financial concepts?
【結(jié)構(gòu)】方括號所標(biāo)示的部分是后置形容詞短語，修飾“people”。
【釋義】雖然如此，這種趨勢提出了一個重要問題：那些需要承擔(dān)新責(zé)任的人們對于理財(cái)方面的基礎(chǔ)知識了解多少呢?
⑤Even educated professionals may know the basics hut see no need to keep up to date--having no idea of”the in terest rates oll their credit cards，the fees on their mutual funds or”how their investments are doing．
【結(jié)構(gòu)】本句主語是“educated professionals”，謂語動詞是“may know”和“see”。破折號后面的現(xiàn)在分詞短語“having…”是補(bǔ)充說明部分。介詞“of后面跟有三個并列的賓語。
【釋義】甚至，受過教育的業(yè)內(nèi)人員也可能只是了解一些基礎(chǔ)知識，卻并不認(rèn)為知識還需要更新。他們不知道信用卡的利率、共同基金手續(xù)費(fèi)標(biāo)準(zhǔn)以及他們所進(jìn)行的投資目前運(yùn)營如何。
⑥Just this week the British government launched an online debt calculator for overstretched consumers and a money—management course for teenagers[that will be offered in schools across the country later this year]．
【結(jié)構(gòu)】本句謂語動詞“l(fā)aunched”后面跟有兩個并列的賓語“an online debt calculator”和“a money-management course”。方括號所標(biāo)示的后置定語從句修飾“teenagers”。
【釋義】就在本周，英國政府推出了網(wǎng)上債務(wù)計(jì)算器，供各類消費(fèi)者使用，并為十幾歲的青少年準(zhǔn)備了理財(cái)課程，今年稍后將在全國各地學(xué)校舉辦。全文翻譯
一大批企業(yè)正把承擔(dān)養(yǎng)老金的責(zé)任更多地轉(zhuǎn)嫁到雇員身上。美國國際商用機(jī)器公司就成了這樣的企業(yè)。上周該公司宣布要徹底改革其在美國的雇員的養(yǎng)老金制度。①當(dāng)然，對大多數(shù)美國人而言這并不值得大驚小怪：很多人多年以來都一直在自行管理著為退休準(zhǔn)備的資金賬戶。然而，在美國和英國，甚至包括像美國國際商用機(jī)器公司那么出色的企業(yè)，都在迅速終止家長制企業(yè)所實(shí)行的那種規(guī)定非常明確的依據(jù)收入和服務(wù)年限計(jì)算養(yǎng)老金的制度。
這樣做，不僅給個人提供更多選擇，而且鼓勵個人承擔(dān)更多責(zé)任。從這個意義上說，這不是感到可怕，而是值得歡迎的事。許多承擔(dān)著支付巨額養(yǎng)老保證金的其他國家，也同樣希望看到他的公民在自身的退休保障工作中發(fā)揮更大的作用。雖然如此，這種趨勢提出了一個重要問題：那些需要承擔(dān)新責(zé)任的人們對于理財(cái)方面的基礎(chǔ)知識了解多少呢?
問題的答案是：沒有多少，而且人們實(shí)際上掌握的知識比他們自認(rèn)為已知的還要少。有研究證明許多人高估了他們對各方面知識的掌握程度，其中包括對通貨膨脹、風(fēng)險(xiǎn)分散經(jīng)營及綜合匯率等多方面的認(rèn)識。一項(xiàng)在澳大利亞進(jìn)行的調(diào)查表明有37％的投資者不知道自己的資產(chǎn)價(jià)值會浮動。在美國有31％的人不知道信用卡賬單上的一種款項(xiàng)正是為了使他們能使用信用卡而必須支付的。英國的金融服務(wù)權(quán)威機(jī)構(gòu)將在未來的一兩個月內(nèi)發(fā)布他們對公民金融知識普及程度的調(diào)查結(jié)果。
甚至，受過教育的業(yè)內(nèi)人員也可能只是了解一些基礎(chǔ)知識，卻并不認(rèn)為知識還需要更新。他們不知道信用卡的利率、共同基金手續(xù)費(fèi)標(biāo)準(zhǔn)以及他們所進(jìn)行的投資目前運(yùn)營如何。⑤在英美兩國，個人存款低利率(在美國實(shí)際是負(fù)利率)和創(chuàng)紀(jì)錄的個人破產(chǎn)總數(shù)都預(yù)示著不好的經(jīng)濟(jì)前景。如果確實(shí)要人們自行掌控養(yǎng)老金，那他們是不是應(yīng)該知道更多的金融知識呢?
終，公民的無知將反作用于政府：如果人們?yōu)樽约旱膶韮π钐?，那政府無論愿不愿意都得為他們提供生活保障。來自經(jīng)濟(jì)合作與發(fā)展組織的芭芭拉·史密斯說，“政府正在嚴(yán)肅地考慮這一問題，”而芭芭拉所在的機(jī)構(gòu)近正好發(fā)布了一份關(guān)于全球金融知識普及程度的報(bào)告。就在本周，英國政府推出了網(wǎng)上債務(wù)計(jì)算器，供各類消費(fèi)者使用，并為十幾歲的青少年準(zhǔn)備了理財(cái)課程，今年稍后將在全國各地學(xué)校舉辦。新西蘭也是另一個準(zhǔn)備從青少年身上開始普及金融知識的國家：一個官方的金融信息網(wǎng)站(www．sorted．org．nz)就為人們提供了名為“金錢寶島”的在線游戲。
超綱詞匯
bankruptcy n．破產(chǎn)，無償付能力，倒閉，公司破產(chǎn)
bode vi／vt．預(yù)示，預(yù)兆
diversification n．分散化，多種經(jīng)營，多樣化經(jīng)營，多樣化
overhaul n．徹底革新，改革，全面修訂
overstretch vt．過度仲長，過度拉伸
paternalistic adj．家長式作風(fēng)的，感情主義的
rebound vi．彈回，跳回，產(chǎn)生與初衷相違的結(jié)果
willy-nilly adv．不管愿意與否
參考答案：1．C 2．B 3．B 4．A 5．C
To the extent that this creates and encourages individual choice and responsibility, it is something to welcome rather than to fear. Many other countries, facing huge state-pension obligations, would also like to see their citizens assume a bigger role in providing for their own retirement. Even so, the trend raises an important question: how much do people due to take on these new responsibilities know about basic financial concepts?
The answer seems to be: not much, and less than they think they do. Studies show that many people overestimate their knowledge of everything from inflation to risk diversification and compound interest. One survey in Australia found that 37% of people who owned investments did not know that they could fluctuate in value. In America 31% did not know that the finance charge on a credit-card statement is what they pay to use credit. Britain’s Financial Services Authority will release the results of its own survey on financial literacy in the next month or two.
Even edtd cated professionals may know the basics but see no need to keep up to date--having no idea of the interest rates on their credit cards, the fees on their mutual funds or how their investments are doing. But in both America and Britain low personal saving rates (negative in America, indeed) and record numbers of personal bankruptcies do not bode well. If people are to take charge of their pensions, shouldn’t they know a little more?
In the end, ignorance could rebound on governments: if people save too little for old age, the state may have to provide for them willy-nilly. Governments are taking this very seriously, says Barbara Smith of the Organisation for Economic Co-operation and Development, which recently produced a report on global financial literacy. Just this week the British government launched an online debt calculator for overstretched consumers and a money-management course for teenagers that will be offered in schools across the country later this year. New Zealand is another country trying to catch its people young: one official financial-information website there (www. sorted, org. nz) includes an online game on Money Island. [438 words]
1. It is informed in the text that______.
A. IBM cannot help but overhaul its pension plan ，examda.com
B. IBM takes much responsibility for saving for retirement
C. workers will assume more financial responsibility for their old age
D. most Americans have taken on responsibility for saving for retirement
2. Corporate defined benefit programmes will come to an end primarily because______
A. most companies are not so healthy as IBM
B. it can help companies relieve their pension obligations
C. millions of Americans have opened their individual accounts for years
D. more factors should be taken into consideration for a healthy pension plan
3. If one is to assume more financial responsibility, he should have more knowledge about______
A. risk diversification ，examda.com
B. basic financial concepts，examda.com
C. how much he pays to use credit
D. the fluctuation in value of his investment
4. It can be inferred from the text that______
A. even professionals are short of financial information
B. personal saving rates will no doubt increase remarkably
C. professionals are usually better prepared for their retirement
D. there will be less personal bankruptcies in both America and Britain
5. The main idea of this text is that______
A. most people are very ignorant about investment
B. individuals should have more choices and responsibility
C. individuals should be better prepared for their retirement
D. government should provide official financial-information 難句透析
①[When IBM announced an overhaul of its pension plan for employees in America last week]，it joined a parade ofemployers[that are shifting more responsibility for saving for retirement on to workers]．
【結(jié)構(gòu)】第一個方括號部分是“when”引導(dǎo)的時(shí)間狀語從句。代詞“it”是主句主語，指“IBM”。第二個方括號部分是“employers”的后置定語從句。
【釋義】一大批企業(yè)正把承擔(dān)養(yǎng)老金的責(zé)任更多地轉(zhuǎn)嫁到雇員身上。美國國際商用機(jī)器公司就成了這樣的企業(yè)。上周該公司宣布要徹底改革其在美國的雇員的養(yǎng)老金制度。
②Nevertheless，in both America and Britain the closure of paternalistic corporate“defined benefit”programmes， Ein which pensions depend on earnings and years of service]，is accelerating even at healthy companies such as IBM．
【結(jié)構(gòu)】本句中主句的主語是“the closure”，謂語動詞是“is”。方括號部分是“programmes”的后置定語從句。
【釋義】然而，在美國和英國，甚至包括像美國國際商用機(jī)器公司那么出色的企業(yè)，都在迅速終止家長制企業(yè)所實(shí)行的那種規(guī)定非常明確的依據(jù)收入和服務(wù)年限計(jì)算養(yǎng)老金的制度。
③To the extent[that this creates and encourages individual choice and responsibility]，it is something to welcome rather than to fear．
【結(jié)構(gòu)】介詞短語“To the extent…”用做全句的狀語。方括號部分是“extent”的同位語從句。代詞“this"指前一句，即注釋②那句的內(nèi)容。
【釋義】這樣做，不僅給個人提供更多選擇，而且鼓勵個人承擔(dān)更多責(zé)任。從這個意義上說，這不是感到可怕，而是值得歡迎的事。
④Even so，the trend raises an important question：how much do people[due to take on these new responsibilities] know about basic financial concepts?
【結(jié)構(gòu)】方括號所標(biāo)示的部分是后置形容詞短語，修飾“people”。
【釋義】雖然如此，這種趨勢提出了一個重要問題：那些需要承擔(dān)新責(zé)任的人們對于理財(cái)方面的基礎(chǔ)知識了解多少呢?
⑤Even educated professionals may know the basics hut see no need to keep up to date--having no idea of”the in terest rates oll their credit cards，the fees on their mutual funds or”how their investments are doing．
【結(jié)構(gòu)】本句主語是“educated professionals”，謂語動詞是“may know”和“see”。破折號后面的現(xiàn)在分詞短語“having…”是補(bǔ)充說明部分。介詞“of后面跟有三個并列的賓語。
【釋義】甚至，受過教育的業(yè)內(nèi)人員也可能只是了解一些基礎(chǔ)知識，卻并不認(rèn)為知識還需要更新。他們不知道信用卡的利率、共同基金手續(xù)費(fèi)標(biāo)準(zhǔn)以及他們所進(jìn)行的投資目前運(yùn)營如何。
⑥Just this week the British government launched an online debt calculator for overstretched consumers and a money—management course for teenagers[that will be offered in schools across the country later this year]．
【結(jié)構(gòu)】本句謂語動詞“l(fā)aunched”后面跟有兩個并列的賓語“an online debt calculator”和“a money-management course”。方括號所標(biāo)示的后置定語從句修飾“teenagers”。
【釋義】就在本周，英國政府推出了網(wǎng)上債務(wù)計(jì)算器，供各類消費(fèi)者使用，并為十幾歲的青少年準(zhǔn)備了理財(cái)課程，今年稍后將在全國各地學(xué)校舉辦。全文翻譯
一大批企業(yè)正把承擔(dān)養(yǎng)老金的責(zé)任更多地轉(zhuǎn)嫁到雇員身上。美國國際商用機(jī)器公司就成了這樣的企業(yè)。上周該公司宣布要徹底改革其在美國的雇員的養(yǎng)老金制度。①當(dāng)然，對大多數(shù)美國人而言這并不值得大驚小怪：很多人多年以來都一直在自行管理著為退休準(zhǔn)備的資金賬戶。然而，在美國和英國，甚至包括像美國國際商用機(jī)器公司那么出色的企業(yè)，都在迅速終止家長制企業(yè)所實(shí)行的那種規(guī)定非常明確的依據(jù)收入和服務(wù)年限計(jì)算養(yǎng)老金的制度。
這樣做，不僅給個人提供更多選擇，而且鼓勵個人承擔(dān)更多責(zé)任。從這個意義上說，這不是感到可怕，而是值得歡迎的事。許多承擔(dān)著支付巨額養(yǎng)老保證金的其他國家，也同樣希望看到他的公民在自身的退休保障工作中發(fā)揮更大的作用。雖然如此，這種趨勢提出了一個重要問題：那些需要承擔(dān)新責(zé)任的人們對于理財(cái)方面的基礎(chǔ)知識了解多少呢?
問題的答案是：沒有多少，而且人們實(shí)際上掌握的知識比他們自認(rèn)為已知的還要少。有研究證明許多人高估了他們對各方面知識的掌握程度，其中包括對通貨膨脹、風(fēng)險(xiǎn)分散經(jīng)營及綜合匯率等多方面的認(rèn)識。一項(xiàng)在澳大利亞進(jìn)行的調(diào)查表明有37％的投資者不知道自己的資產(chǎn)價(jià)值會浮動。在美國有31％的人不知道信用卡賬單上的一種款項(xiàng)正是為了使他們能使用信用卡而必須支付的。英國的金融服務(wù)權(quán)威機(jī)構(gòu)將在未來的一兩個月內(nèi)發(fā)布他們對公民金融知識普及程度的調(diào)查結(jié)果。
甚至，受過教育的業(yè)內(nèi)人員也可能只是了解一些基礎(chǔ)知識，卻并不認(rèn)為知識還需要更新。他們不知道信用卡的利率、共同基金手續(xù)費(fèi)標(biāo)準(zhǔn)以及他們所進(jìn)行的投資目前運(yùn)營如何。⑤在英美兩國，個人存款低利率(在美國實(shí)際是負(fù)利率)和創(chuàng)紀(jì)錄的個人破產(chǎn)總數(shù)都預(yù)示著不好的經(jīng)濟(jì)前景。如果確實(shí)要人們自行掌控養(yǎng)老金，那他們是不是應(yīng)該知道更多的金融知識呢?
終，公民的無知將反作用于政府：如果人們?yōu)樽约旱膶韮π钐?，那政府無論愿不愿意都得為他們提供生活保障。來自經(jīng)濟(jì)合作與發(fā)展組織的芭芭拉·史密斯說，“政府正在嚴(yán)肅地考慮這一問題，”而芭芭拉所在的機(jī)構(gòu)近正好發(fā)布了一份關(guān)于全球金融知識普及程度的報(bào)告。就在本周，英國政府推出了網(wǎng)上債務(wù)計(jì)算器，供各類消費(fèi)者使用，并為十幾歲的青少年準(zhǔn)備了理財(cái)課程，今年稍后將在全國各地學(xué)校舉辦。新西蘭也是另一個準(zhǔn)備從青少年身上開始普及金融知識的國家：一個官方的金融信息網(wǎng)站(www．sorted．org．nz)就為人們提供了名為“金錢寶島”的在線游戲。
超綱詞匯
bankruptcy n．破產(chǎn)，無償付能力，倒閉，公司破產(chǎn)
bode vi／vt．預(yù)示，預(yù)兆
diversification n．分散化，多種經(jīng)營，多樣化經(jīng)營，多樣化
overhaul n．徹底革新，改革，全面修訂
overstretch vt．過度仲長，過度拉伸
paternalistic adj．家長式作風(fēng)的，感情主義的
rebound vi．彈回，跳回，產(chǎn)生與初衷相違的結(jié)果
willy-nilly adv．不管愿意與否
參考答案：1．C 2．B 3．B 4．A 5．C