Business English Lesson – Advanced Level''''s archiveFutures and Options docx

Business English Lesson – Advanced Level's archive
Futures and Options
1. The CFTC is an agency created in 1974 to regulate US
futures and options exchanges; in its authorizing statute,
the Exchange Act, Congress recognized that these
markets are important to our economy, and that fraud and
manipulation impinged upon the market's ability to perform
vital functions of price discovery and risk management.

Commodity
Foreign
Investment
Mercantile
2. The back of both the Powerball and Wildcard 2 tickets
sold in Idaho say in part, 'SIGN THIS TICKET
IMMEDIATELY. This ticket is instrument; anyone
possessing a winning ticket may claim the prize.

a bearer
an anonymous
an individual
a signature
3. Sales Outstanding (DSO) is a way of
transforming the accounts receivable number into a handy
metric that can be compared with other companies in the
same industry to determine which player is managing its
receivables collection better.

Days
Debited
Direct

Discount
4. Rule 10b-4 prohibits tendering of this type; it
provides that a person tendering shares must be net long
in all shares tendered both at the time of tender and as of
the offer's cutoff date, and had Merrill Lynch executed the
sell short order, Bobker would have been in violation of the
rule.

balanced
compromised
hedged
withheld
5. In auctions, a seller has multiple, identical items
to sell, specifying the minimum price and the number of
items available; bidders bid at or above that minimum for
the quantity they are interested in purchasing, and at the
close of the auction, the highest bidders purchase the
items at the lowest successful bid.

Dutch
French
Russian
Scottish
6. Some credit cards let you borrow cash in addition to
making purchases on credit, and most companies treat
these cash and your purchases differently; for
instance, the APR may be higher than the APR for
purchases.

advances

allowances
rebates
receipts
7. The Employee Retirement Income Act of 1974
(ERISA) is a federal law that sets minimum qualifications
for pension plans in private industry; it does not require
any employer to establish a pension plan — it only
requires that those who establish plans must meet certain
minimum conditions.

Security
Settlement
Standards
Surety
8. The objectives of cash flow analysis are to
determine the net present value of a stream of expected
future cash revenues and expenditures, and the rate of
return which the expected future cash flows will yield on a
given level of initial cash investment.

anticipated
discounted
forwarded
planned
9. For yen-denominated bonds, the Samurai and the
bond markets have coexisted since the 1970s; the former
aims at mobilising financial resources from domestic
investors of the issuing market, whereas the latter aims at
mobilising financial resources from the broader base of
international investors.

Black Ship
Bushi
Euroyen
Oversea
10. The income statements for the current interim period
and cumulatively for the current fiscal year to date have
been revised, and statements for the comparable
interim periods (current and year-to-date) of the
immediately preceding fiscal year have been added.

comparative
equivalent
mirror
supplemented