For each blank(8-12),mark one letter(A-G)on your Answer Sheet.
34、?Read the extract below from an article about Bankers’bonuses．
?Choose the best sentence from the list on the opposite page to fill each of the gaps．
?For each gap(34-38)，mark one letter(A—G)on your Answer Sheet．
?Do not use any letter more than once．
?There is an example at the beginning(0)．
Bankers’Bonuses
Lord Myners, the City minister, is allegedly worth ￡ 30m ( $ 47m). He is an unlikely tribune of the people. (0) G Derivatives traders are not footballers with unique talents and "should not be paid as though they are", he said last month.
More recently he has railed against " market failure" ; accusing big clients of investment banks of not challenging the fees and margins they are charged. (8)____________Lack of transparency makes them seem the more villainous. "The nation is angry about this. I'm angry," says Lord Myners.(9)____________"We are not an incomes regulator," says Hector Sants, chief executive of the Financial Services Authority (FSA). The watchdog's only sanction is to demand more regulatory capital from those banks whose pay policies appear to be putting their firms at greater risk.
The Treasury could influence matters at RBS and Lloyds Banking Group, two big banks in which it has substantial shareholdings, but is reluctant to micromanage. ( 10 )____________The government worries that any attack on bankers'pay could drive financiers offshore, depriving the exchequer of much revenue. City bonuses, which dropped from 10 billion in 2007 to ￡ 4 billion in 2008, could bounce back to ￡ 6 billion this year, says the Centre for Economic and Business Research (CEBR) ," a consultancy.
They mirror the health of a financial-services sector that in the good times brought in up to 67 billion in annual tax revenues, estimates PwC, an accounting firm. This fiscal year the figure could drop to 39 billion, says Douglas McWilliams at the CEBR, although banks'recently buoyant business may increase it. (11)____________So could the slightly softer option of preventing banks from offsetting past losses against future tax bills.
The reluctance to bash bankers'bonuses stems from recognition that wholesale finance is a global business. Bankers are highly mobile, says Marcus Agius, chairman of Barclays. He argues that banks in Britain must be free to pay as much as those elsewhere, but says he is "agnostic" about what that level should be. National and international proposals to reform pay at regulated financial firms are similarly agnostic. They mostly do not spell out how much public disclosure there
should be of big pay packages, other than those for board members. (12) ____________It requires a detailed breakdown of the remuneration of "employees whose actions have a material impact on the risk exposure of the firm" Yet that measure is unlikely to be implemented, even though the big British banks and the London-based operations of global investment banks have agreed to it.
The FSA, for its part, is not bothered about public disclosure as long as it has the information itself.Sir David Walker, a former central banker charged with an official review of bank-governance practices, has suggested that bands of remuneration for heavy hitters outside the boardroom be disclosed. It seems that banks, in the absence of much more than appeals to their better nature, will be setting their own benchmarks as and when they please. Barclays began a review of its remuneration policies in 2008. It remains unfinished.
A．But such attempts at mqral suasion are not working，and those in authority seem reluctant to do more．
B．A windfall tax on profits，discussed by both government and opposition，might put any recovery at risk．
C．The opportunity to take an equity position at a bargain price has been missed．
D．The crisis does not seem to have affected the way bankers are rewarded．
E．An exception is the communiqu6 from the Group of 20(G20)big countries in September
F．There was not a murmur when RBS hired a head trader for a rumoured￡7m in total．
G．Yet．he has been sounding off more vociferously than his colleagues about“unac． ceptable”pay deals for bankers。
第(8)題答案是：
35、第(9)題答案是：
36、第(10)題答案是：
37、第(11)題答案是：
38、第(12)題答案是：
For each question(13-18),mark one letter(A,B,CorD)on your Answer Sheet. 39、回答39-44題． Focus on You r Customer If you think of the most successful companies around the world -- GM, Wal-Mart, IBM, etc. they all have one thing in common: loyal custom-ers. It can cost ten to twenty times as much to ac-quire a customer as to retain one, so it's easy to understand why Customer Relationship Manage-ment is such a hot concept. But, while everyone understands CRM is a good thing, putting a CRM strategy together isn't easy. The place to start? A customer -- driven business model. A．customer-driven business model is the most prudent method of ensuring customer loyalty because it fosters a better relationship with new and existing customers. Others such as market, price, cost or e-commerce-driven business models may generate profits, but fall short of sustaining a loyal customer base. At the heart of customer- driven business model is a clear understanding of the customer-not just customer trends (although this is useful information, too), but the buying habits and history of every one of your customers. This 360-degree view provides analytics from multiple channels (direct, web, fax, E-mail, call center, sales/marketing) and consolidates into a common repository. Monitoring buying habits and tracking market dynamics lets you more effectively market new and existing products and services. If you think this is a daunting task, you aren't alone. Because most enterprises don't have a consolidated view of their customers, obtaining customer profit and cost information is often a herculean effort. Implementing a CRM solution is usually a huge project with a high probability of failure. Some analysts suggest most businesses underestimate the cost of a CRM implementation by 40-75 percent. In fact, a successful CRM will interface with ERP systems to provide integration with all customer interactions such as order processing, billing. Also, CRM strategies must include commitment and sponsorship from senior management, as it should be deemed a strategic investment that is implemented incrementally and evolutionarily. Understanding critical success factors, such as those listed in the " Key to CRM Success" sidebar, mitigates the risks. First, start with a cultural change that focuses on a customer-centric business strategy. Make sure your organization is well aware of the high cost of customer attrition and is focused on improving retention, increasing loyalty. Understanding and broadcasting the cost of acquiring new customers versus fostering existing relationships. Second, focus on an enterprise view of the customer that encompasses all customer data, such as communication history, purchasing behaviours, channel preferences, demographics, etc. Understand your customers' preferred channels and determine if there's some way to optimize them. Adopt a flexible architecture that will expand with your business -- this is tree with any IT project. Never deploy a strategic, costly solution using the big-bang approach. Always take an increment, evolutionary, or iterative approach. The impact to your organization can be significant, thus, proceed slowly and ensure the returns on investment measures are in nlze. The first paragraph indicates that loyal customers A．help reduce costs of the company． B．a(chǎn)re quite common around the world． C．produce huge profits． D．a(chǎn)re costly to develop．
40、 According to the writer，a customer—driven business model ensure customer loyalty by A．a(chǎn)ttaching great attention to customer’S buying inclination． B．keeping track of what customers have pumhased． C．having a panorama understanding of customers． D．launching new products and services quickly．
41、 According to the article，to get customer information is considered to be A．a(chǎn)n effective marketing method． B．easier if the company adopts a customer—driven business model． C．a(chǎn)n impossible task to accomplish by many companies． D．difficult for a company with an integrated view of customers．
42、 According to the writer，a CRM implementation fails because A．the project is too large。 B．it involves strategic Investment． C．the implementation is too integrated． D．there is inadequate funds．
43、 What is the key factor of reducing the risk of a CRM solution? A．complete customer files B．retention of customers C．good relationship with customers D．broad preferred channels
44、 What can lead to a successful CRM strategy? A．Invest enough money in the project at the start． B．Develop the project gradually or repeatedly． C．Be aware of its significant impact on the company． D．Determine and keep the scale to the end．
35、第(9)題答案是：
36、第(10)題答案是：
37、第(11)題答案是：
38、第(12)題答案是：
For each question(13-18),mark one letter(A,B,CorD)on your Answer Sheet. 39、回答39-44題． Focus on You r Customer If you think of the most successful companies around the world -- GM, Wal-Mart, IBM, etc. they all have one thing in common: loyal custom-ers. It can cost ten to twenty times as much to ac-quire a customer as to retain one, so it's easy to understand why Customer Relationship Manage-ment is such a hot concept. But, while everyone understands CRM is a good thing, putting a CRM strategy together isn't easy. The place to start? A customer -- driven business model. A．customer-driven business model is the most prudent method of ensuring customer loyalty because it fosters a better relationship with new and existing customers. Others such as market, price, cost or e-commerce-driven business models may generate profits, but fall short of sustaining a loyal customer base. At the heart of customer- driven business model is a clear understanding of the customer-not just customer trends (although this is useful information, too), but the buying habits and history of every one of your customers. This 360-degree view provides analytics from multiple channels (direct, web, fax, E-mail, call center, sales/marketing) and consolidates into a common repository. Monitoring buying habits and tracking market dynamics lets you more effectively market new and existing products and services. If you think this is a daunting task, you aren't alone. Because most enterprises don't have a consolidated view of their customers, obtaining customer profit and cost information is often a herculean effort. Implementing a CRM solution is usually a huge project with a high probability of failure. Some analysts suggest most businesses underestimate the cost of a CRM implementation by 40-75 percent. In fact, a successful CRM will interface with ERP systems to provide integration with all customer interactions such as order processing, billing. Also, CRM strategies must include commitment and sponsorship from senior management, as it should be deemed a strategic investment that is implemented incrementally and evolutionarily. Understanding critical success factors, such as those listed in the " Key to CRM Success" sidebar, mitigates the risks. First, start with a cultural change that focuses on a customer-centric business strategy. Make sure your organization is well aware of the high cost of customer attrition and is focused on improving retention, increasing loyalty. Understanding and broadcasting the cost of acquiring new customers versus fostering existing relationships. Second, focus on an enterprise view of the customer that encompasses all customer data, such as communication history, purchasing behaviours, channel preferences, demographics, etc. Understand your customers' preferred channels and determine if there's some way to optimize them. Adopt a flexible architecture that will expand with your business -- this is tree with any IT project. Never deploy a strategic, costly solution using the big-bang approach. Always take an increment, evolutionary, or iterative approach. The impact to your organization can be significant, thus, proceed slowly and ensure the returns on investment measures are in nlze. The first paragraph indicates that loyal customers A．help reduce costs of the company． B．a(chǎn)re quite common around the world． C．produce huge profits． D．a(chǎn)re costly to develop．
40、 According to the writer，a customer—driven business model ensure customer loyalty by A．a(chǎn)ttaching great attention to customer’S buying inclination． B．keeping track of what customers have pumhased． C．having a panorama understanding of customers． D．launching new products and services quickly．
41、 According to the article，to get customer information is considered to be A．a(chǎn)n effective marketing method． B．easier if the company adopts a customer—driven business model． C．a(chǎn)n impossible task to accomplish by many companies． D．difficult for a company with an integrated view of customers．
42、 According to the writer，a CRM implementation fails because A．the project is too large。 B．it involves strategic Investment． C．the implementation is too integrated． D．there is inadequate funds．
43、 What is the key factor of reducing the risk of a CRM solution? A．complete customer files B．retention of customers C．good relationship with customers D．broad preferred channels
44、 What can lead to a successful CRM strategy? A．Invest enough money in the project at the start． B．Develop the project gradually or repeatedly． C．Be aware of its significant impact on the company． D．Determine and keep the scale to the end．