Career paths banking TB kho tài liệu học tiếng anh

Virginia Evans
Ken Gilmore,MBA

~
Express Publishing


Pub li shed by Express Publishing
Lib erty House, Greenham Business Park, Newbury,
Berkshire RG19 6HW
Tel.: (0044) 1635 817 363
Fax: (0044) 1635 817 463
e-mail:
resspubl ishing.co.uk

© Express Publishing, 2011
Design © Express Publishing, 2011
First published 2011
Made in EU
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form, or by any means, electronic, photocopying, or otherwise, without the prior
written permission of the publishers.
This book is not meant to be changed in any way.
ISBN 978-1-78098-356-1

...


Table of Contents

Answer Key . .. . . .. .... . ...... ..... ................. . ... . ...... . ... . ........ 4
Audioscripts .......................................................... .. .... 12

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2
Answer Key .. ... .. ....... . . . ... ...... . ... ............ . ..... . ... .. .......... 14
Audioscripts .. ..... . . ... .. . .. ................ . ..... . ... . ............ .... ... 23

Answer Key .. ................. .. . ..... ........ . . . ..... ...... .... . .......... 27
Audioscripts ....... ....... .. .... . . ... ... . ................. . ......... . ...... 37


Book 1 Answer

Key

Unit 1

Unit 2

1 Suggested Answers

1 Suggested Answers

1 In my country most people use credit and debit
cards to make purchases. However, most people
also carry cash and loose change in order to buy
smaller items. Checks are sometimes used to pay
bills.
2 Bills are more common in my country than coins.

I prefer them because they are not heavy and
they can be used to pay for almost anything.
Coins can only be used to purchase small items
because it is difficult to carry large amounts of
them around, and most shops will not allow you
to buy expensive items with them.

2

F

2 T

3 F

3

c

2 E

3 D

4 1 change
2 Exchange

4 B

5 A

1

A bank teller needs a variety of supplies, including
pens, stamps and ink, a cash drawer and holders
for bills and coins.
2 When my bank runs low on supplies it orders new
ones from our supplier.

A

2

2

c

3 B
3 fingerprint pad
4 inventory

3 1 counterfeit pen
2 bill strap

4 Things to Mark Paper: ink, stamp, pen
Containers for Money: cash drawer, coin wrapper,
deposit bag
5 Suggested Answer
Ink is contained in a bottle.

3 currency

4 cash

5 check

T

6

5 Suggested Answer

2 T

7 1 supplies

To buy one British pound you need just over one and
a half dollars.

2

low on

3 F
3 run out
4 out of

5 bills
6 what about

8 Suggested Answer

6

B

2 A

7 1 exchange
2 how much

A: Hi, Alan. I got your email about the supplies
3 total
4 dollars

5 lt comes to
6 service fee

8 Suggested Answer
B: Hello, sir. Welcome to First Regional Bank. How
can I help you?
A: Hi. I need to exchange these British pounds for
American dollars.
B: All right. Let's see how much you have there.
A: Here you go.
B: Twenty, forty, sixty ... The total comes to one
hundred and seventy pounds.
A: How much is that in dollars?
B: I'll calculate that now. lt comes to two hundred
and seventy-fiv e dollars and seventy seven cents.
A: Great. Can I make the exchange?
B: Of course. But there is a one percent service fee.

9 Suggested Answer
Currency presented: British pounds
Currency requested: American ollars
Amount presented: 170 pounds
Exchange rate: 1.62219
Amount returned: two hundred and seventy-five
dollars and seventy seven cents.

4

Answer Key

inventory. Thanks for doing that.
B: Oh. No problem. We're pretty low on those deposit
bags.
A: I saw that. If we run out, use the old ones.
B: Got it. We're also out of counterfeit pens.
A: Well, we can check the bills by hand until Monday.
B: Okay. What about the date stamps and fingerprint
pad?
A: I picked up one of each at the store. Here you go.
B: Oh, good. Thanks.

9 Suggested Answer
Quantity
3
1
4 cases
2

Supplies needed
date stamp
fingerprint pad
deposit bags
counterfeit pens

Unit 3

1 Suggested Answers
1

Items of furniture that you find in a bank include
chairs and desks for the staff, couches and chairs
for customers, and conference tables to allow
business meetings to take place.


Book 1 Answer
2 If I were a bank manager I would furnish my bank
with modern furniture as well as more classic
items like a mahogany or oak desk.

2

T

2 T

used when someone wishes to open a new

account, change of address forms are used when
a customer wishes to notify a bank that they are
moving house and so on.

3 F

3 1 A teller pedestal
2 A mat
3 A rope

B armchair
B filing cabinet
B conference table

2

B

2 B

3 D

3

D

2 E

3

c

4 1 account statement
3 desk chair
4 desks

4 1 couch
2 posts

5 Suggested Answer

c

2 tellers
3 what if we

5 B

4 balance sheet
change of address

5 Suggested Answer

Every time a customer performs a transaction at a
bank they are given a teller receipt.

F

6

2 B

7 1 We could

4 A

5

2 withdrawal form
3 teller receipt

A free set of carpet floor mats are given with large
orders.

6

Key

4 line
5 We could even
6 Good idea

8 Suggested Answer
A: We need to reorganize the lobby.
B: I know what you mean. Customers don't know
where the line starts.
A: Let's see. We could move these desks and chairs
away from the door.
B: Yeah. Then people could walk straight to the tellers.
A: Right. And what if we shift the post and rope

setup back a bit?
B: Then there won't be any confusion about the line.
A: Exactly. We could even get some floor mats.
B: Good idea. Red ones to match the chairs.

9 Suggested Answer
Move the desks and chairs away from the door.
Shift the post and rope setup back a bit.
Place the new mats near the door.
Unit4
1 Suggested Answers

1 To open a bank account in my country you need
a Social Security Number (SSN), an acceptable
form of identification with your picture on it (such
as a passport or driving license), and some proof
of where you live such as a utility bill (e.g. water
or electricity).
2 Tellers use a variety of documents in transactions.
Withdrawal forms are used when customers
withdraw money, account application forms are

2 T

3 T

7 1 Hello sir
2 open
3 account application

4 filling that out
5 deposit slip
6 balance

8 Suggested Answer

A: Hello, sir. How can I help you today?
B: Hi. I'd like to open a savings account.
A: OK. Here's an account application and a pen.
B: Okay. Thanks.
A: While you are filling that out, can I see some
identification?
B: Sure. Here you go.
A: Thank you. You'll also have to fill out this deposit
slip.
B: Oh. Thanks. Is there a minimum starting balance?
A: Yes, it's just fifty dollars.

9 Suggested Answer
Type of Account:
Checking:
Savings x
Name: James Garcia
Date: November 15
Address: 355 38th Street
Phone: 682 547 2430
Starting balance: $50
Reason for opening account: Saving for a home
deposit
Unit 5

1 Suggested Answers

1 Banks use a variety of machines to make them
more efficient and secure. Currency counters are
used when customers make withdrawals or deposits
Answer Key

5


Book 1 Answer

Key

and counterfeit detectors are used to check that
bills presented are genuine. Various other standard
pieces of office equipment are also used, for
example computers and printers.
2 Banks employ a large number of security measures
in my country. Security guards and cameras are
always present and tellers are protected by bulletproof screens. Paper shredders are also used to
protect sensitive customer and bank information.

2

F

2 F

3 T

3

A

2 c

3 E

4 1 shredder
2 counterfeit detector
3 security camera

4 D

5 B

4 printer
5 coin machine
6 calculator

5 Suggested Answer
Banks might wish to dispose of paperwork such as
former customers' bank account and personal details
as well as details of old transactions that they no
longer need to keep for their records.

6

A

2 B

7 1 What can I do
2 currency counter

3 paper money

4 lt has to
5 expensive
6 a lot of time

B: Thanks for calling Right Place Supply. How can I
help you?
A: Hi, this is Alice Mindy with B & S Bank.
B: Hello, Ms. Mindy. What can I do for you today?
A: I want to buy a calculator.
B: All right. Do you want an adding machine that has
a print out function?
A: Yes.
B: Okay. lt will be more expensive than a normal one.
Is that all right?
A: That's fine. I'm sure it will be better for our
customers.
9 Suggested Answer
Name of caller: Alice Mindy
Bank where he/she works: B & S Bank
Product of interest: adding machine
Desired product functions: Calculation with printout function
Price: $45

Answer Key

1 Suggested Answers
1 A bank is usually divided up into a number of
areas. Customers enter the bank via the foyer and
then go into the lobby where the teller stations
are situated. Away from these areas there is a
staff room as well as the manager's office.
2 Some structures that increase security in a bank
are safe deposit boxes and vaults, both of which
are used to store money and important documents
safely.

2 1
2
3
4
5

computers
deposit
Turn on main lights I sweep
Customer Service Desk I Lobby
Breakroom

3 1 F
2 D

3 B

4 E

4 1 vault
2 foyer

5 A
6 c
3 breakroom
4 customer service desk

5 Suggested Answer

8 Suggested Answer

6

Unit 6

In a breakroom you will find items such as a coffee
maker, a water cooler, and cups, plates etc.

6

T

2 F

3 T

7 1 opening

2 had trouble
3 teller station

4 take a look
5 tech services
6 don't worry

8 Suggested Answer

A: How did opening go this morning, Mr. Garland?
B: Everything went pretty well. A couple of lights in
the foyer are out.
A: 'vVhere?
B: Right next to the door.
A: I see. We'll have to call maintenance.
B: Do you want me to call now?
A: No, don't worry about it. There's enough light
coming in the doors for now.
9 Suggested Answer
Foyer: Sweep, turn on lights
Teller stations: Turn on computers
Breakroom: Start coffee and restock plates, cups
and napkins
Manager's offices: Turn on lights


1 Answer
Unit 8

Unit 7

1 Suggested Answers

1 Suggested Answers

1 For the symbol = we says equals and for the
symbol .;- we say divided by.
2 Large numbers can be expressed in hundreds or
thousands. For instance, the number 2700 could
be said as two thousand seven hundred or twenty
seven hundred.

2

T

2 F

3 1 times
2 comes to

4 1 plus
2 less
3 subtract

1 High interest rates and a good return on investment
encourage people to open savings accounts.
2 Many savings accounts, particularly those with
good rates of interest, require that a minimum
balance is kept. Sometimes the number of
possible withdrawals in a particular time period

may also be limited.

3 T
3 less
4 hundred

5 add
6 plus

4 multiplied by
5 over
6 divided by

7 equals

2

T

2 T

3 F

3

E

2 D

3 c

4 1 minimum balance
2 limit
3 savings account

If something is said to come to something else, this
means that two numbers are equal.

c

2 c

7 1 What's up
2 added
3 Let me see

4 B

5 A

4 earn
5 interest rate

5 Suggested Answer

5 Suggested Answer

6

Key

lt is not possible to keep a savings account open at
Drury Savings Bank without any money in it.

6
4 thirteen hundred
5 There's your problem
6 multiplied by

8 Suggested Answer

A

2 c

7 1 savings account
2 limited
3 pulled out

4 fee
5 How much
6 have a choice

8 Suggested Answer

A: Martin, can you help me for a second?

A: Is this correct, Ms. Simpson? You want to take

B: Sure, Anna. What's up?

A: There's something wrong with this deposit slip. I
added it all twice, but the total is still wrong.
B: Let me see. There are four checks. Three checks
for two hundred dollars. And one for one thousand,
five hundred.
A: Yeah. I multiplied the two hundred dollar checks by
four and added fifteen hundred.
B: There's your problem.
A: What do you mean?
B: You multiplied by the wrong number.
A: Oh, what a simple mistake! Thanks.

four hundred out of your savings account?
B: That's right. Why, is there is a problem?
A: A small one. Your account is limited to one
withdrawal a month.
B: Oh, and I pulled money out last week to pay a bill.
Well, I really need the money.
A: Are you sure? There will be a fee.
B: How much is it?
A: it's fifteen dollars.
B: I don't have a choice. I'll just pay the fee.

9 Suggested Answer
Account holder: Hannah Coulton
Account number: 2352346289
Original Deposit Amount: $2300
New Deposit Account: $2100
Explanation of change: Teller error
Manager's Approval: y_ I N

9 Suggested Answer
Customer Name: Ms. Simpson
Account number: 2463578498
Type of Transaction: Withdrawal
Fee: Y IN
If yes, reason for fee: Customer has already made
one withdrawal this month
Fee amount: $15
Total Transaction Amount: $415

Answer Key

7


Book 1 Answer

Key

Unit9

Unit 10

1 Suggested Answers

1 Suggested Answers

1 The advantages of storing money in a bank are that
it is kept safe and you can earn interest on it. In

addition, having a bank account gives you access
to a wide range of banking services.
2 People can use a number of different ways to pay
for purchases. Checks and debit cards, as well as
cash, are common ways to pay for purchases.
People are also increasingly paying for things,
such as large items or bills, using online banking
payment systems.

2

T

2 T

3 1 direct deposit
2 checkbook

1

People use credit cards instead of cash when they
don't have the money to pay for an item. They also
use them because it is safer to pay for things this
way rather than to carry large amounts of cash.
2 The risks of using credit cards are that people buy
more things than they can really afford and end
up in debt. Also credit cards are sometimes
copied and used fraudulently.

2 1 approved

2 available
3 Payment

3 F
3 returned
4 check

4 1 debited
2 average balance
3 checking account

5 debit cards

4 maintenance fee
5 overdraft
6 liquid

3 1 D
2 E

3 B

5 F

4 c

6 A

4

2 B

3 B

If Mr. Perez made a balance transfer during his first
year he would have to pay 1% interest on this.

A customer can take money out of their account
using two methods: check or debit card.

c

2 B

7 1 can I do
2 checking account
3 the right place

B

5 Suggested Answer

5 Suggested Answer

6

4 introductory
5 balance transfers

4 overdraft charges

5 Do you have
6 Take a seat

6

F

2 F

3 T

7 1 interest rate
2 seems to be
3 started at

4 help out
5 goes up
6 I see now

8 Suggested Answer

A: Finances Plus, Jamil speaking. How can I help
8 Suggested Answer
A: What can I do for you today, ma'am?
B: I'm thinking about opening a checking account.
A: Well, you came to the right place. Can I interest
you in our Premium Checking?
B: What does that include?
A: For a low monthly fee, you get protection against
overdraft charges.

B: I'm not sure if I need that. Do you have anything
without a fee?
A: Certainly. Our Basic Checking is available at no
cost. Of course, there's no overdraft protection
either. Take a seat and we'll get started with the
paperwork.

9 Suggested Answer
Name: Rita Pate!
Account type: Basic
List any additional services you are looking for in
a checking account: No additional services required

8

Answer Key

you?
B: Hi, I just got a card and I'm confused about my
interest rate.
A: What seems to be the problem?
B: Well, I thought the interest started at zero. This
letter says it's twelve percent.
A: Okay, I can help out. Your introductory rate is zeio
percent.
B: Oh, wonderful.
A: But next October, your rate goes up to twelve
percent.
B: Oh, I see now. Thank you for your help.

9 Suggested Answer
Customer name: Mr. Perez
Introductory rate: 0%
Credit limit: $1500.00
Other fees and restrictions: 1% interest on balance
transfers


Book 1 Answer
Unit 12

Unit 11

1 Suggested Answers

1 Suggested Answers

1 Bank customers can access their money by using
an ATM or going into a branch of their bank to
withdraw money.
2 The easiest way to access a bank account in my
country is usually to use an ATM. However, some
banks operate drive-up windows which are also
very convenient. And more and more people are
now using telephone banking and online banking
to access their accounts.

2

T

2 F

1 Online banking has many benefits. lt allows you
to perform transactions wherever you are (as long
as you have Internet access). This means you
don't actually have to go to a bank, and probably
queue up, to do what you need. You can also do
things at any time of day, so you don't have to
wait for the bank to open. More generally, you can
keep a much closer eye on your finances which
allows you to manage theRl better.
2 The risks of online banking are that someone will
discover your password and use it to take money
out of your account. If someone uses an
important piece of information as their password
(such as their Social Security Number) they may
also fall victim to identity theft.

3 T

3 1 A call center
2 A online banking
3 A ATM fee

4 1 drive-up
2 PIN
3 brick-and-mortar

B ATM

B mobile banking
B deposit
4 branch
5 funds
6 withdraw

A

2

3

8

2 E

3

c

4 D

5 A

4 log in
5 lock out
6 security measures

5 Suggested Answer

2 B

7 1 you were closed
2 debit card
3 next business day

3 8

2 electronic statements
3 SSL

Ferdinand's Bank has ATMs in many different countries
around the world.

c

c

2

4 1 phishing

5 Suggested Answer

6

Key

4 That's nice
5 call center

6 next time

8 Suggested Answer

A: Finally! I tried to make this deposit twice this week,
but you were closed.
B: I'm sorry for the inconvenience, miss. Maybe I can
help. Do you have a debit card?
A: I do.
B: Well, we offer a 24-hour ATM to make deposits.
it's right outside. The transaction goes through on
the next business day.
A: That's nice. But I travel a lot.
8: You can call our call center. They'll direct you to
the closest ATM.
A: Okay. I'll try that next time.

9 Suggested Answer
The different ways to make deposits are to go to a
branch or a drive-up window and put the money in
there, or to put it into an envelope and deposit it into
an ATM.
To use an ATM, I need my debit card and my PIN.
When traveling, I can find an ATM by calling the
bank's 24-hour call centre.

The bank's customers should never give out sensitive
information in response to an email.

6

F

2 F

7 1 locked out
2 First I'll need

3 T
3 And the
4 Let's see

5 password
6 unlocked

8 Suggested Answer

A: Forestwood Bank, Xavier speaking. How may I
help you?
8: Hi. I'm locked out of my online account. I typed
my password wrong a few times.
A: Okay, I can unlock that. What is your name and
date of birth?
B: My name is Elena Papp. I was born June 4th, 1990.
A: And the last four digits of your account?
B: Let's see. it's 9463.
A: Thank you, Ms. Papp. Now, what is your password?
8: it's Papp three seven five. All one word.
A: Okay. Your account is unlocked.

9 Suggested Answer
Customer: Ms. Papp
Date of Birth: June 4th, 1990
Account: 9465
Answer Key

9


Book 1 Answer

Key

Password: Pappthreeseventive
Reason for call: Customer was locked out of online
account
Was customer's problem resolved? If yes, how?
Yes. A bank employee unlocked the account after Ms.
Papp provided her details over the phone.

A: Finally, this is my administrative assistant's desk.
He can answer just about any question you have.
B: I see. I can't wait to get started.

9 Suggested Answer
Job Title: Bookkeeping clerk
Responsibilities: bank records and data

Unit 13
Job Title: Head teller

Responsibilities: creating schedules, managing cash
drawers, reviewing teller transaction records

1 Suggested Answers
1

There are a wide variety of jobs that people can
have in banks. There are those that deal directly
with the public such as receptionists and tellers,
and those that work mostly behind the scenes
such as administrative staff.
2 The hardest jobs in banks are those that have to
deal with the public. These staff must remain
polite and calm at all times, even when customers
are behaving badly. This can be very difficult
when a bank is busy and customers get frustrated
at having to wait to see a teller.

2 1 T
3 1

2 F

A bookkeeping clerk

3 A Greet
2 E

3 c

4 B

5 A

1

People choose to use telephone banking because
they prefer to speak to another person rather than
deal with a computer as with online banking. it also
allows people to avoid queues in banks as well as
being more flexible than online banking as it allows
people to ask any question they want.
2 The benefits of making transactions by phone are
that they can be done quickly and safely.

3 ./

2 1 B
3 1

Receptionists and tellers have to deal directly with the
public. Managers often deal directly with customers too.

2 ./

1 Suggested Answers

B receptionist
B entry keyer
B support

5 Suggested Answer

6 1 X

Unit 14

3 T

2 A head teller

4 1 D

Job Title: Administrative assistant
Responsibilities: organizing schedules, paperwork,
and mail

4 ./

head teller
Got it
administrative assistant's
can't wait

"
8 Suggested Answer
A: Welcome to your first day on the job. I'll show you
B:

A:

B:

A:

B:

10

around.
Great, thanks.
This is the bookkeeping clerk's office. Bring all of
your paperwork here at the end of the day.
Like my balance sheet?
Precisely. Now, this is Mrs. Turner's office. She's
the head teller. So it you ever have a problem, see
her first.
Got it.

Answer Key

2 B

3

c

3 A

4

c

4 call center

2 resolve

5 phone banker

3 Telephone banking

6 answering systems

5 Suggested Answer
The new service will begin on March 1.

2 bookkeeping clerk's

3
4
5
6

c

4 1 complete

5 X

7 1 show you around

D

2

6

F

2 F

3 F

7 1 How may I
2 transfer
3 bank account

4 transaction
5 checking account
6 that

8 Suggested Answer

A: National Savings Bank. How may I help you?
B: I'm calling to make a transfer.
A: Okay. Your name and bank account number please?
B: Maria Nichols. 363 412 8876.
A: Thank you, Ms. Nichols. What kind of transaction
would you like to make today?
B: I want to move $400 from my checking account
into savings.

A: We can do that.


Book
9 Suggested Answer

Answer Key

9 Suggested Answer

Phone teller: Arnold Schimdt
Customer name: Maria Nichols
Account number: 363 412 8876
Desired service: Account transfer

Applicant name: Mr. Zhiang
Prior Experience: Was a teller for four years
Skills: Experienced with handling money, excellent
math skills

Unit 15
1 Suggested Answers
1 Tellers are responsible for ensuring that the money
that is paid into and out of a bank is correct and
all transactions are recorded. They also deal with
customer inquiries about other aspects of a bank's
business.
2 Teilers are required to be highly numerate and
possess excellent communication skills in order
to deal efficiently with customers.

c

A

2 A

3

3 1 F
2 c

3 E
4 A

5 D
6 B

2

4 1 calculate
2 accept

3 verified
4 teller

5 Accuracy

5 Suggested Answer
Someone can apply for the position advertised by

picking up an application form that is available in the
bank.

6

T

2 F

3 F

7 1 prior experience
2 three years
3 responsibilities

4 handled

5 math skills
6 upper level

8 Suggested Answer

A: Are you ready to begin the interview, Mr. Zhiang?
B: I am. Thanks for seeing me.
A: First, it says on your application you have
experience handling money. What experience do
you have?
B: I was a teller for four years.
A: All right. And what were your responsibilities in
that role?

B: I dealt with customer deposits and withdrawals,
issued traveler's checks and opened new accounts.
A: Great. How are your math skills?
B: I took an upper level math class in college, so I'd
say they're very good, sir.

Answer Key

11


Audioscripts
Unit 1
Teller (F): Hello, Sir. Welcome to First Regional Bank. How
can I help you?
Tourist (M): Hi. I need to exchange these Euros for
American dollars.
Teller: All right. Let's see how much you have there.
Tourist: Here you go.
Teller: Twenty, forty, sixty ... The total comes to one
hundred and seventy euros.
Tourist: How much is that in dollars?
Teller: I'll calculate that now. it comes to two hundred
and thirty-five dollars and seventeen cents.
Tourist: Great. Can I make the exchange?
Teller: Of course. But there is a one percent service fee.
Unit 2
Manager (M): Hi, Sue. I got your email about the supplies
inventory. Thanks for doing that.
Teller (F): Oh. No problem. We're pretty low on those

deposit bags.
Manager: I saw that. If we run out, use the old ones.
Teller: Got it. We're also out of counterfeit pens.
Manger: Well, we can check the bills by hand until Monday.
Teller: Okay. What about the coin wrappers and bill straps?
Manager: I picked up a box of each at the store. Here
you go.
Teller: Oh, good. Thanks.
Unit 3
Manager (M): We need to reorganize the lobby.
Employee (F): I know what you mean. Customers don't
know where the line starts.
Manager: Let's see. We could move these armchairs away
from the door.
Employee: Yeah. Then people could walk straight to the
tellers.
Manager: Right. And what if we shift the post and rope
setup forward?
Employee: Then there won't be any confusion about the line.
Manager: Exactly. We could even get some floor mats.
Employee: Good idea. Blue ones to match the chairs.
...
Unit4
Teller (F): Hello, sir. How can I help you today?
Customer (M): Hi. I'd like to open a checking account.
Teller: Wonderful. Here's an account application and a pen.
Customer: Okay. Thanks.
Teller: While you are filling that out, can I see your driver's
license?
Customer: Sure. Here you go.

Teller: Great. Thank you. You'll also have to fill out this
deposit slip.

12

Answer Key

Customer: Oh. Thanks. Is there a minimum starting balance?
Teller: Yes, it's just one hundred dollars.
Unit 5
Salesperson (F): Thanks for calling Right Place Supply.
How can I help you?
Manager (M): Hi, this is Tom Morley with M & P Bank.
Salesperson: Hello, Mr. Morley. What can I do for you today?
Customer: I want to buy a currency counter.
Salesperson: All right. Do you want a machine that counts
paper money or coins?
Customer: Both. lt has to count both.
Salesperson: Okay. lt will be more expensive than a coin
counter. Is that all right?
Customer: That's fine. I'm sure it will save us a lot of time.
Unit 6
Manager (M): How did opening go this morning, Ms. Tomlin?
Employee (F): Everything went pretty well. I had trouble
starting one of the computers though.
Manager: Which computer?
Employee: The one at the third teller station. An error
screen came up.
Manager: I see. We'll have someone take a look at it later.
Employee: Do you want me to call tech services about it?

Manager: No, don't worry about it. We'll just keep that
station closed this morning.
Unit 7
Teller 1 (M): Karen, can you help me for a second?
Teller 2 (F): Sure, Mike. What's up?
Teller 1: Well, something's wrong with this deposit slip. I
added it all twice, but the total is still wrong.
Teller 2: Let me see. There are four checks. Three checks
for one hundred dollars. And one for one thousand,
three hundred.
Teller 1: Yeah. I multiplied the hundred dollar checks by
four and added thirteen hundred.
Teller 2: There's your problem.
Teller 1: What do you mean?
Teller 2: You multiplied by the wrong number.
Teller 1: Oh, what a simple mistake! Thanks.
UnitS
Teller (F): Is this correct, Mr. Jones? You want to take
three hundred out of your savings account?
Customer (M): That's right. Why, is there a problem?
Teller: A small one. You have the money. But your account
is limited to one withdrawal a month.
Customer: Oh, and I pulled out money last week to make
a cashier's check. Well, I really need the cash.
Teller: Are you sure? There will be a fee.


Audioscripts
Customer: How much is it?
Teller: it's twenty dollars.

Customer: I don't have a choice. I'll just pay the fee.
Unit9
Agent (M): What can I do for you today, ma'am?
Customer (F): I'm thinking about opening a checking
account for my son.
Agent: Well, you came to the right place. Can I interest
you in our Premium Checking?
Customer: What does that include?
Agent: For a low monthly fee, you get protection against
overdraft charges.
Customer: I don't think he needs that. Do you have
anything without a fee?
Agent: Certainly. Our Basic Checking is available at no
cost. Of course, there's no overdraft protection either.
Take a seat and we'll get started with the paperwork.
Unit 10
Representative (F): Finances Plus, Carol speaking. How
can I help you?
Customer (M): Hi, I just got a card and I'm confused about
my interest rate.
Representative: What seems to be the problem?
Customer: Well, I thought the interest started at zero. This
letter says it's twelve percent.
Representative: Okay, I can help out. Your introductory
rate is zero percent.
Customer: Oh, wonderful.
Representative: But next November, your rate goes up to
twelve percent.
Customer: Oh, I see now. Thanks for your help.
Unit 11

Customer (M): Finally! I tried to make this deposit twice
this week, but you were closed.
Teller (F): I'm so sorry for the inconvenience, sir. Maybe
I can help. Do you have a debit card?
Customer: I do. But I leave it at home, just to be safe.
Teller: Well, we offer a 24-hour ATM to make deposits.
it's right outside. The transaction goes through on the
next business day.
Customer: That's nice. But I travel a lot.
Teller: Just call our call center. They'll direct you to the
closest ATM.
Customer: Okay. I'll try that next time.
Unit 12
Teller (F): Forestwood Bank, Shirley speaking. How may
I help you?

Caller (M): Hi I'm locked out of my online account. I typed
my password wrong a few times.
Teller (W): Okay, I can unlock that. First I'll need your
name and date of birth.
Caller: My name is Richard Hanson. I was born January
10th, 1973.
Teller: And the last four digits of your account?
Caller: Let's see. it's 8932.
Teller: Thank you, Mr. Hanson. Now, what is your password?
Caller: it's Hanson one two two. All one word.
Teller: Okay. Your account is unlocked.
...
Unit 13
Manager (M): Welcome to your first day on the job. I'll

show you around.
Employee (F): Great, thanks.
Manager: This is the bookkeeping clerk's office. Bring all
of your paperwork here at the end of the day.
Employee: Like my balance sheet?
Manager: Precisely. Now, this is Mr. Dahl's office. He's the
head teller. So if you ever have a problem, see him first.
Employee: Got it.
Manager: Finally, this is my administrative assistant's desk.
She can answer just about any question you have.
Employee: I see. I can't wait to get started.
Unit 14
Banker (F): Kopps Savings Bank. How may I help you?
Customer (M): I'm calling to make a transfer.
Banker: Okay. Your name and bank account number please?
Customer: Chris Riley. 285 023 5519.
Banker: Thank you, Mr. Riley. What kind of transaction
would you like to make today?
Customer: I want to move $400 from my checking account
into savings.
Banker: We can do that.
Unit 15
Interviewer (M): Are you ready to begin the interview, Ms.
Nelson?
Applicant (F): I am. Thanks for seeing me.
Interviewer: First, I want to know about your prior
experience. lt says on your application you have
experience handling money.
Applicant: That's right. I was a teller for three years.
Interviewer: All right. And what were your job responsibilities?

Applicant: I issued money orders and handled mortgage
payment transactions.
Interviewer: Great. How are your math skills?
Applicant: I'd say they're very good, sir. I took two upper
level math classes in college.

Answer Key

13


Book 2 Answer Key
Unit 1

9 Suggested Answer
Type of funds transfer: (Check one)

1 Suggested Answers
1 The safest way to send money abroad is
electronically: putting cash or checks in the mail is
not safe as they might get stolen. Wire transfers are
common, and involve electronic transfers of funds
between bank accounts, though services between
people at special offices are also common in many
countries, especially where banking systems are not
well developed. For larger or faster transfers real time
gross settlement (RTGS) transfers are usually used.
2 The main difference between wire transfers and
RTGS is that RTGS is much quicker (and therefore
more expensive). Funds are transferred immediately.

The other difference is that once an RTGS
transaction is complete it cannot be changed,
whereas with a wire transfer it is possible to
change it before the transaction is settled.

2 1 F

2 T

3 F

3 1 F
2 B

3 D

5 c

4 E

6 A

D Between accounts
0 Wire transfer
D Loan payment
Transfer from: George Charles Cline
Transfer to: Tony Shaw
Provide additional information below:
Send email notification once funds arrive.

Unit 2
1 Suggested Answers
1 People borrow money for many reasons. Usually
it is to buy a particular item like a new car or
motorbike. But sometimes people borrow money
for a holiday, or even simply because they are
short of cash.
2 People in my country usually borrow money
through personal loans: either through their banks
or specialist loan companies. In some cases
finance is offered by the company selling a
product: this is particularly common for automobile
purchases and is often where manufacturers
make a lot of their profits.

4 1 address
2 electronic funds transfer

3 bank-to-bank
4 routing number

5 Real time gross settlement
5 Suggested Answer

2 1 none, 36 months
2 new and used vehicles, up to 84 months

3 1 personal loan

2 apply

3 loan

The quickest way to transfer funds between bank
accounts is to use an RTGS transfer.

6 1 X

2 X

3

7 1 routing number
2 Here you go
3 Next

,/

4 ,/

6 application fee

4 1 A lender

2 A closing cost
3 A term

4 receive

4 early payoff penalty
5 auto loan

B borrower
B principal
B financing

5 within 24 hours
6 confirmation

5 Suggested Answer
A borrower has three years to pay off a personal loan.

8 Suggested Answer

A: This is my first time doing this. So how does it work?
B: First I'll neea the recipient's name, contact
information, and routing number.
A: I have written it all down. Here you go.
B: Thank you. I'll just enter that into our system.
A: How long will it take?
B: After I submit the transaction, the funds should
arrive within 24 hours.
A: Will I get a confirmation when the funds arrive?
B: Yes, once the funds arrive, you'll get an email
notification.

14

Answer Key

6

c

2 A

7 1 The principal is
2 plus interest
3 how long

4 early payoff penalty
5 pay off
6 signature

8 Suggested Answer
B: Okay. The principal is the amount of the loan. In
other words, it's how much you owe before interest.
A: Oh, I see. So I have to pay that plus interest.
B: Correct.


Answer Key

A: Now, you said the loan has a term of 36 months.
What's that exactly?
B: That is how long you must make payments on the
loan. You'll pay a hundred and sixty dollars a month
for 72 months.
A: Uh huh. Another thing I don't understand is this
early payoff penalty.
B: That is a fee we charge you if you pay off the

balance of the loan before 36 months.
A: Thanks for clearing that up. I think I'm ready to
give it my signature now.

fixed-rate
main advantage
That sounds great
the downside is

5 a bit steep
6 add on three points
7 strike against it

Term: 72 months

8 Suggested Answer
A: So what are my options for a 15-year fixed-rate
mortgage loan?
B: I have two for you. The main advantage of the
first is its low rate - 4.65%.
A: Wow! That sounds great. ...
B: The rate is very low, but the downside is that it
requires a 20% down payment.
A: Ouch. That's a bit steep. I don't think I can afford
that much.
B: You can still get the loan, but we'll add on four
points.
A: Hmmm. That's another strike against it. You said
there was another option.

Fees: (explain in detail)
No application fee, closing costs are payable. A
$1000 down payment is necessary.

9 Suggested Answer
What type of mortgage are you looking for?

9 Suggested Answer
Borrower: Juan Ardilez
Amount: $10,000
Type: (check one)

D Personal

~ auto

other:

Unit 3
1 Suggested Answers
1 Most people finance the purchase of a home in
my country with a mortgage. This is a loan
specifically for buying property, where that
property is used by the lender to guarantee
payment. If a borrower is unable to pay back the
loan the lender will foreclose on them and take
possession of the property.
2 Some costs associated with getting a home loan
are the interest rate that must be paid as well as
mortgage insurance and points, an upfront

payment which may be used to get a better
interest rate on a home loan.

2

B

2 D

3 A

3

A

2 A

3 B

4

7 1
2
3
4

Interest

Payment

amortize,
fixed rate
adjustable rate refinance

Variation
down payment
points

5 Suggested Answer
Somebody might choose an adjustable rate mortgage
if they are thinking about refinancing at a later date.
6 1 T

2 T

3 F

(Check one)

~fixed rate

D adjustable rate

What term?

D 30 year

~ 15 year

How much do you have available for a down

payment? $25,000
Are you willing to pay points? yes
What is more important to you: low points, low
rate, low down payment? Explain.
A low and steady rate of interest is most important
for me. This will allow me to make sure that I can
keep up with the repayments.
Unit4
1 Suggested Answers
1 People in my country invest their savings in a wide
variety of products and institutions. Interest
bearing bank accounts are probably the most
common investment for most people, but many
people also invest in stocks too.
2 Banks commonly offer interest bearing accounts,
such as savings accounts. Often money must be
deposited for a particular period to get a better
rate of interest. Deposits are normally insured
against loss if a bank fails. Banks also offer
Certificates of Deposit (CDs) which may offer
better rates of interest. These are always for a
fixed term with better rates available to those
savers who are prepared to deposit their savings
for longer. Sometimes better rates are offered on
CDs that are not insured for investors with a
greater appetite for risk.
Answer Key

15

Book 2 Answer
2 1 T

2 F

3 T

3 1 A
2 F

3 c
4 E

5 B
6 D

4 1 variable rate

Key
Unit 5
1 Suggested Answers

4 ladder
5 mitigate
6 Certificate of Deposit

2 early withdrawal
3 Insured
5 Suggested Answer

The smallest amount that someone can invest in a
CD is $1000.

6 1 X

2 ./

3 ./

7 1 interest
2 fixed rate
3 a year or two

4 X
4 here's what I'd do
5 ladder
6 get the idea

8 Suggested Answer

A: I'd like to invest in a CD.
B: Ok. Would you prefer one with a fixed rate or
variable?
A: Well, I don't want the rate of interest to change,
so fixed rate.
B: And how long do you want to invest?
A: I need some of the money to be available in
about a year, but the rest I won't need for some
time.

B: In that case I'd suggest structuring your COs in a
ladder.
A: What's that exactly?
B: You can invest some money in a one year CD,
some in a two year CD, and some in a five year CD.
A: What's the advantage of that?
B: Longer term COs pay a higher return so you'll get
a higher rate of return overall and still have
access to money in a year.
9 Suggested Answer
Name: Andreas Goldstein
Amount: $50,000
How many COs do you wish to purchase?
(Specify amounts, terms and rates)
$10,000 in one year fixed rate (1.12%)
$20,000 in two year fixed rate (1.95%)
$20,000 in five year fixed rate (2.85%)
Would you like any of your COs to be automatically
renewed when mature?
(If yes, specify which ones) No

1 Most people in my country see the stock market
as disconnected from their lives, particularly in
recent times. Many people do put money into the
stock market via their retirement plans, but they
do not actively participate in the buying and
selling of stocks or spend a great deal of time
following the stock market.
2 lt is possible to buy individual stocks but the majority
of people invest in mutual funds. This allows them

to purchase a much wider variety of financial
instruments such as stocks and bonds and spread
the risks associated with their investments.
2 1 investment
2 investment types
3 risks

4 costs
5 commissions

3 1 investment
2 average annual return
3 securities

4 brokerage
5 mutual fund
6 invest

4 1 A diverse

B diversify
B money market fund
B commission

2 A equity fund
3 A management fees

5 Suggested Answer
The riskiest type of mutual fund is one that invests in
equities.

6 1 D

4 watch out for
5 management fees
6 cut into

8 Suggested Answer

A: I like the Allstais Supernova Fund. Their average

B:

A:
B:

A:

A:
B:
Answer Key

c

7 1 fantastic
2 market drops
3 good management

B:

16

2

annual returns have been excellent over the past
five years.
it's among the best funds. But remember, high
returns are not guaranteed. Mutual funds, even
the Supernova fund, can lose money if the market
drops.
Right, but past returns indicate good management,
don't they?
In most cases, yes. But there's another thing to
watch out for.
What's that?
Some funds, like the Supernova Fund, charge high
management fees.
Oh. Does that cut into my return?
lt sure does.


Book 2 Answer

A: Um, well, yes. But I had trouble making some

9 Suggested Answer
Customer's Name: Martin Eiger
Financial Advisor: Pamela Bond
What was the purpose of your visit? To discuss

B:

what type of mutual fund to invest in

What advice did you receive? To be aware that even

A:

good funds can lose money, and that some of the
more successful ones charge high management fees

B:

How would you rate the quality of the advice?

A:

The advice I received was good.
Please explain why. I was not aware of these issues,
but your advisor explained them to me in a simple
and easy to understand way.

B:

Unit 6

1 Suggested Answers
1

There are a few major, national banks that are

popular and hold the majority of people's savings
in the US but, for many people, local community
based banks are also very popular.
2 The advantages of smaller banks are that they have
a much better knowledge of the local economy and
conditions. This allows them to give a more personal
service to their customers. They are often more
accessible than larger banks as their branches and
headquarters are likely to be much closer to where
their customers live and work.

2

3 1

c

A

2

c

3 E
4 B

2 D

3

A:

payments last year. Is this going to count against
me in any way?
lt could limit your options. So let me see if I can
find your account. What's your name?
Alan O'Sullivan.
Okay, Mr. O'Sullivan, it says you were late on four
payments.
Was it that many?
That's what our records say. It'll hurt your credit
score. But we can still offer you our basic checking
account, just not any of our preferred products.
Whew. I was worried you'd turn me down.

9 Suggested Answer
Name: Alan O'Sullivan
Account applying for: Checking account
Does applicant have current or former accounts?

1': / N
If yes, describe account history: Four late payments
on auto loan.

What accounts does applicant qualify for? Basic
checking account

Unit 7

1 Suggested Answers

Businesses rely on a variety of banking services.
They use accounts to look after their money, they
borrow money to finance their businesses and they
use various services to undertake transactions with
their customers and suppliers.
2 Banks guarantee business transactions in my
country by issuing letters of credit which guarantee
that payments for goods and services will be made.

1

c

5 F
6 A

4 1 Bank Traits: accessible, risk averse
2 Applicant Evaluation: credit score, character
3 Bank Customers: small businesses, family, farmers

2

F

2 T

3 F

5 Suggested Answer

3 1 B

3 B

2 A

4 B

5 A
6 B

The bank's accounts are insured up to $200,000.

6

F

2 F

3 T

4 1 merchant banking
2 underwriting
3 construction

7 1 paid back

2
3
4

5

making some payments
limit your options
late
credit score
6 basic checking account

Key

4 time deposit

5 performance bond
6 contractor

5 Suggested Answer
Continental Commercial Bank has been in business
for over 200 years.

6

D

2 A

8 Suggested Answer
B: Okay. Have you done business with us before?

A: Yes, I have. I took out an auto loan a few years ago.
B: Has it been paid back?

7 1 bond
2 how long
3 worried about delays

4 How soon

5 underwriting
6 talk about
Answer Key

17


Book 2 Answer

Key

8 Suggested Answer

6

A: Thank you for coming in Mr. Wright. What can I
do for you?
B: I'd like to apply for a performance bond for an
upcoming construction job. We're putting up a
small office building.
A: Okay. What's the estimated budget for the project?
B: I've calculated $1,000,000.
A: Is that the amount you need?

B: Yes.
A: How long is the project expected to last?
B: Our timeline is eleven months. But I'm worried
about delays, so I'd like the bond to cover that
entire period plus four months.
A: Okay. We can do that.
B: How soon will you be able to issue the bond?
A: I'll need to send your information to underwriting. I
usually hear back from them in five to seven days.
B: Great. Let's talk about what information you need.

9 Suggested Answer
Name: Mr. Wright
Company: FW Construction
Amount of Bond: $1,000,000
Duration of Bond: 15 months
Describe the project: Small office building construction
UnitS

1 Suggested Answers
1 Credit unions are a type of financial institution that
are usually run on a not for profit basis.
2 Membership of a bank can benefit customers as
it allows them to elect those that run the institution
and ultimately decide what kind of institution they
want, including who is eligible for membership and
where the bank should be based.

2 1 Members

2 Board of Directors
3 State employees
4 Members, Board of Directors
3 1 A

2

c

3 E
4 D

.,.

5 B
6 F

4 1 credit union

2 board of directors

3 account holder
4 not-for -profit

5 Suggested Answer
Currently only federal employees can join the credit
union.

X

2 ./

Answer Key

4 limit our eligibility

7 1 expand our membership
2 about time
3 to disagree

5 that's a mistake

8 Suggested Answer
A: We have to decide on whether to expand our
membership.
B: I think it's about time.
A: I have to disagree.
B: Why? What do you think?
A: The founders of our credit union stated that its
mission was to serve the needs of federal
employees, so I think we should limit our eligibility
to them.
B: I think that's a mistake.
A: What are you suggesting we do then?
B: Well, we have an outstanding reputation, and not
only among our members. Lots of people would
love to join our credit union.

9 Suggested Answer
Why people want to join: People want to join the

credit union as it has an excellent reputation
Reasons to expand: Would provide additional capital
to fund expansion
Reasons not to expand: The credit union was
founded to meet the needs of federal employees

Unit9

1 Suggested Answers
1 Companies can increase their capital by making
(and retaining) profits, issuing shares or engaging
in different types of borrowing such as issuing
corporate bonds.
2 Investment banks engage in a variety of activities.
One major function is helping businesses raise
capital through share issues such as initial public
offerings (IPOs) when a company's shares are sold
for the first time. They are also active in selling
these products to investors. Another major function
is assisting in mergers and acquisitions whereby
businesses join or buy out other businesses.

2 1 obtaining
2 release

3 1 B

2 B

3 profitable

4 working

5 expand

3 A

5 A

4 1 acquisition
2 proprietary trading
3 bonds

18

4 ./

3 X

4 B

4 launch
5 debt capital
6 equity capital


Book 2 Answer

2 1 Manage information technology resources

5 Suggested Answer

2 Risk management
3 Manage cash flows

In the previous year Gelding Investment Bank raised
$15.2 bn in equity capital and $9.5bn in debt capital
for its clients.

6

B

2

c

7 1 an example
2 little known
3 Nobody

Key

4 why did you
5 had the potential
6 it's now up to

3 1 A market risk
2 A capital
3 A compliance

B credit risk
B limits
B financial control

4 1 Middle Office

4 corporate treasury
5 risk management

2 trader
3 operational risk

8 Suggested Answer

A: Could you give our readers an example?
B: Sure. Last year, we found a little known company,
LBA Corp. it sells computer parts. Nobody was
investing in them.
A: So why did you?
B: We liked their product and saw they had the
potential for huge growth. So we started with a $1
million investment in February. By May, it was
worth $2.5 million.
A: And today?
B: it's now up to $6.2 million.

5 Suggested Answer

Management of information technology resources is
sometimes undertaken in the back office in smaller

banks.

6

T

2 T

3 F

7 1 manage risk
2 one role that it plays
3 responsible for

4 all that it does
5 financial controls
6 makes all trades

8 Suggested Answer
9 Suggested Answer
Interviewee:
Date: 17 September
Time: 11.00 a.m.
Describe the investment: Their proprietary trading
team invested in a small computer company called
LBA Corp.
How did they decide on that investment? They
liked their product and saw that it had potential for
huge growth.
How much did they make on the investment? Their

initial investment of $1m in February was worth $2.5m
by May and is now worth $6.2m.

Unit 10
1 Suggested Answers

1 Investment banks face several risks when they
trade, such as market risk, credit risk and
operational risk.
2 Investment banks can minimize those risks by
engaging in risk management: calculating the
likelihood and size of possible risks before allowing
trades to be undertaken. With some trades it might
be possible to offset (or hedge) those risks with
other trades {for example interest rate swaps) or
purchase other financial instruments that act like a
form of insurance (e.g. credit default swaps)

B: So, who can tell me why the Middle Office is
important?
A: Well, without a Middle Office, a bank couldn't
manage risk.
B: Very good. That's one role that it plays. What are
some others?
A: it's also responsible for staying compliant with the
laws, right?
B: Yes. That's a very important function. But that's
not all that it does.
A: Um. I remember reading about financial controls.
B: Right. Did you understand what that meant?

A: Not exactly. I think it means that the Middle Office
makes all trades.
B: Actually, that's incorrect. Fiscal control has to do
with keeping track of the money coming into and
leaving the bank.
9 Suggested Answer

1 What is one type of risk a Middle Office
manages?
Operational risk is one type of risk a Middle Office
manages.
2 How does a Middle Office manage cash flows?
A corporate treasury monitors all the funds going
into and out of a company
3 What is the third role of the Middle Office?
Their third role is the management of information
technology resources.
Answer Key

19


Book 2

Answer Key

Unit 11

9 Suggested Answer
Employee name: Jon Nesbit

Current team: Trade confirmation
Team requested to transfer to: Technical support
Reason for transfer: Technical support requirements
have increased
Estimated cost: $15,000

1 Suggested Answers
1 Investment banks rely on computers to do much
of their trading automatically, as well as performing
other functions such as data checking and trade
confirmation.
2 Computers have had both positive and negative
impacts on investing. The use of computers
allows for much more sophisticated analysis of
companies, financial products and associated
risks. it also improves efficiency by automating
certain back office functions such as datachecking and trade confirmation. However,
automated trading could also increase risks to the
wider market and economy, as prices may be
distorted or more volatile as computer based
trades focus on short-term movements and react
to other banks' (automated) purchases and sales.
2 1 F

2 T

3 T

3 1 F
2 A

3 B

5 E
6 D

4

c

4 1 trade confirmation
2 operations

4 data-checking
5 information technology
6 software

3 trading algorithm

Unit 12

1 Suggested Answers
1

The first step to obtain a loan is usually to go and
see a loan officer. They will then decide what kind
of loan is appropriate and fill in an application
form. The loan officer will then check the
applicant's creditworthiness to decide whether to
offer a loan or not. For smaller loans some or all

of these steps may be done on line.
2 A person with a poor, or non-existent, credit history
may be prevented from qualifying for a loan as
well as those with insufficient income or assets or
those convicted of financial crimes such as fraud.

2

c

2 B

3 A

3

A

2 A

3 B

4 Individuals: loan officer, potential client
Topics: finance, economics
Actions: assist, analyze, obtain

5 Suggested Answer
Those staff no longer needed to check data and
confirm trades will be transferred to other roles.

6 1 ./

2 X

3 X

7 1 with HR
2 kind of tight
3 cut back on

4 here's an idea
5 training
6 cost much less

A: We need at least one more employee.
B: How much would it cost to hire one?

A: I've estimated $80,000 per year including salary

A:
B:

A:
B:

A:
B:

20

and benefits.
Have you talked with HR yet?
Not yet. I wanted to discuss this with you first.
Well, our budget is kind of tight right now.
I understand, but we can't cut back on tech support.
I agree. So here's an idea. Could we shift someone
over from trade confirmation? The new software
makes some of their functions redundant.
That could work. But we'll still have to pay for training.
I'm sure that will cost much less than hiring an
additional employee.

Answer Key

At least three years' experience is required for the
position.

4 ./

8 Suggested Answer

B:

5 Suggested Answer

6

F

2 F

3 T

7 1 customer service
2 the most important part
3 fails to understand

4 added risk
5 Go on
6 good listener

8 Suggested Answer

A: Well, your resume looks great. I see you worked
with Domino Bank for five years?
B: I did. I started as a teller and ended as a loan officer.
A: Okay. So, Ms. Cechini, tell me. In your experience,
how important is customer service for a loan officer?
B: Oh, I'd say it's the most important part of the job.
A: Could you elaborate on that?
B: Well, if a loan officer fails to understand a
customer's needs, they could lead the customer
into taking out the wrong loan. And that could be
an added risk for the lender.
A: Interesting. Go on.


Book
B: A loan officer should be a good listener, otherwise
they won't really understand the customer's needs.

9 Suggested Answer
Date: March 15
Position applied for: Loan Officer
Applicant's name: Assunta Cechini
How did the applicant address the role of customer
service? The applicant noted that customer service is
the most important part of the job.

How did the applicant describe customer needs?
The applicant noted that it is vital to understand
customer needs, otherwise they could end up with
the wrong loan, and the lender with increased risk.
Other comments: The applicant noted the importance
of listening skills.
Recommendation: Hire.

Unit 13

1 Suggested Answers
1 A credit analyst's job is to assess people's (and
companies') ability to pay back the loans they are
requesting from a bank.
2 Banks employ credit analysts to decide if they
should lend money to an individual. These
financial professionals gather a variety of financial
information about the loan applicant and then
review these to assess their creditworthiness: that
is, whether they are likely and able to pay back
any loan made.

F

2 T

3 F

3 1 B
2 D

3 c

5 F
6 A

2

4 E

4 1 credit analyst
2 evaluate

./

2 X

7 1 on the plus side
2 not so sure

3 taking in

reserves.
B: Okay, that was my impression as well.
A: However, I'm not so sure that it makes up for their
insufficient cash flow.
B: Really?
A: A company their size should be taking in at least
20% more revenue.
B: Okay. Would you recommend rejecting their
application?
A: I'm not certain thafs necessary. But I'd urge caution.
B: Perhaps we can modify the loan. Maybe reduce
the amount or raise the rate slightly.
A: I'm not confident that a higher rate will make
much difference in terms of risk.
B: I see.
A: Your best bet is to discuss the possibility of a
smaller loan, at least until they can increase their
cash flows. If that happens, I can re-evaluate them.

9 Suggested Answer
Loan applicant: Regal Enterprises
Are the applicant's cash flows sufficient? Why?
Why not?
The applicant's cash flows are not sufficient: a
company that size should be generating more cash.

Is the applicant creditworthy? Why? Why not?
The applicant is creditworthy as it has adequate capital
reserves.

Recommendation for applicant:
Offer a smaller loan than requested .

1 Suggested Answers

3 project

5 creditworthiness

4 meet

3 X

A: Well, on the plus side, they have adequate capital

Unit 14

5 Suggested Answer
A credit analyst assesses potential borrowers' ability
to pay back loans.
6

Answer Key

4 ./

1 Branch managers make sure that their branch
runs efficiently and that the staff is performing
their jobs correctly. They also deal with personnel
issues as well as problems that customers might

be having. Finally, they report back to their head
office on the branch's performance and any
issues that might have arisen.
2 In my country branch managers deal with any
complaints that customers have as well as dealing
with valued customers who wish to talk about their
finances.

4 would you recommend

5 I'm not certain
6 urge caution

8 Suggested Answer
B: So, what is your assessment of their
creditworthiness?

2 1 Bachelor's degree in business related field
2 Three or more years working as a branch manager
3 Electronic banking products, word processing and
spreadsheet software, and community banking
principals

3 1 B

3 A

5 A

2 B

4 A

6 B
Answer Key

21


Book 2 Answer
4 1 supervise
2 solve
3 responsible

Key

4 hands on
5 Organizations
6 branch manager

investments made. They help decide on trustees
and designate who the beneficiaries of the trust
should be. In the event of a trustee's death they
take fiduciary responsibility for the financial
wellbeing of the trust's beneficiaries.

5 Suggested Answer
A branch manager must prepare weekly reports for
their main office.

6

B

2 D

7 1 responsible for
2 under the supervision of
3 operations manager

4 branch manger
5 make the switch
6 helping customers

2

B:

A:
B:

A:

B:

A:
B:

A:

to assistant manager.
That's quite a quick promotion.
Well, the branch manager said she admired my
work ethic.
And what were you responsible for in that position?
I performed many of the day-to-day operations
under the supervision of the branch manager.
That lasted for about three years.
Your next position was as an operations manager
at headquarters?
That's correct. I held that position for a year, before
I found an opening for a branch manger position.
Why did you make the switch?
I like to have more hands-on interactions helping
customers.

9 Suggested Answer
Name: Rav Mistry
Position applying for: Branch manager
Experience: Extensive experience of the community
banking sector
Qualifications: B.A. Economics

Unit 15

2 B

3 B
B portfolio
B beneficiary

B corporate trust

3 1 A investment
2 A trustee
3 A personal trust

4 trust account
5 performance
6 Estate planning

4 1 manage

2 trust officer
3 fiduciary

8 Suggested Answer

A: I was a teller for three years before I was promoted

c

5 Suggested Answer
Greenfield trust manages personal and corporate
trusts.

6

T

2 F

3 F

7 1 grandchild
2 No need to worry
3 sell

4 sale and purchase
5 I'd prefer that
6 take care of

8 Suggested Answer
B: What kinds of investments do you want to put in
the trust?
A: I'm not sure. I have some stock and bonds.
B: Both can be included.
A: I want to make sure the portfolio grows. I'm worried
there won't be enough money for each grandchild.
B: No need to worry. We can adjust your portfolio to
meet your goals.
A: Do you mean I need to sell some of my stock?
B: Not if you don't want to. But if you do, we can
handle the sale and purchase of any investments.
A: I'd prefer that. My husband left them to me. I'm not
entirely comfortable managing them.
B: Don't worry. We'll take care of you.

1 Suggested Answers
1 When people die in my country their assets are
given to their families. How the assets are divided

is usually set out in a will. If there is no will particular
states may have rules for how the assets are
divided, or it may be necessary to go to court to
determine an appropriate division. Nowadays many
people hold their assets in trusts and these may
also contain instructions for what should happen to
any assets when a member of the trust dies.
2 Trust officers establish trusts and then decide
what assets should be held in them, as well as
working to maximize the performance of any

22

Answer Key

9 Suggested Answer
Trust account holder: Geraldine Shaw
Trustee: Mark Pardo
Beneficiary(ies): Geraldine Shaw's grandchildren
Current assets: Some stocks and bonds, real estate
How would you like your assets divided? Equally
between my grandchildren
How would you like your assets invested and/or
managed? I would like the trust officer to handle the
sale and purchase of any investments


Audioscripts
Unit 1
Customer (M): Hi, I'd like to wire some money to my

daughter.
Teller (F): Okay, do you have an account with us?
Customer: Yes, my account number is 500050-G
Teller: Okay. The account information just popped up on
my screen. Can you verify the account holder's full
name?
Customer: George Charles Kline. This is my first time
doing this. So how does it work?
Teller: Well, first I'll need the recipient's name, contact
information, and routing number.
Customer: I have all of that information on a piece of
paper. Here you go.
ieiier: Thank you. Next, i'ii enter that into our system.
Customer: When will she receive the money?
Teller: After I submit the transaction, the funds should
arrive within 24 hours.
Customer: Will I get a confirmation when the funds arrive?
Teller: Yes, once the funds arrive, you'll get an email
notification.

Unit 2
Loan Officer (F): Good news, your application has been
approved.
Customer (M): That's great, but I'm a little nervous.
Loan Officer: That's entirely normal for a first-time car
buyer. it's important that you understand the loan clearly.
Customer: There are a few of the terms I'm not clear on,
like the principal.
Loan Officer: Okay. The principal is the amount of the loan.
In other words, it's how much you owe before interest.

Customer: Oh, I see. So I have to pay that plus interest.
Loan Officer: Correct.
Customer: Now, you said the loan has a term of 48
months. What's that exactly?
Loan Officer: The term is how long you must make
payments on the loan. You'll pay a hundred and forty
dollars a month for forty-eight months.
Customer: Uh huh. Another thing I don't understand is this
early payoff penalty.
·
Loan Officer: That is a fee we charge you if you pay off
the balance of the loan before forty-eight months.
Customer: Thanks for clearing that up. I think I'm ready
to give it my signature now.

Unit 3
Customer (M): So what are my options for a 30-year
fixed-rate mortgage loan?
Loan officer (F): I have two for you. The main advantage
of the first is its low rate - 5.25%.
Customer: Wow! That sounds great.

Loan officer: The rate is very low, but the downside is
that it requires a 25% down payment.
Customer: Ouch. That's a bit steep. I don't think I can
afford that much.
Loan officer: You can still get the loan, but we'll add on
three points.
Customer: Hmmm. That's another strike against it. You
said there was another option.

Loan officer: That's a 5.95% loan with one point.
Customer: Not bad. How much is the down payment for
that one?
Loan officer: That's its best featur~. You're looking at just
10%.
Customer: That's the one for me. Let's do it.

Loan officer: Great, let me prepare the papervvork.
Unit4
Customer (F): So, I'd like to invest in a CD. And I don't
want the interest to change.
Advisor (M): I'd suggest a fixed rate CD then.
Customer: Oh, and there is another thing.
Advisor: Sure, what is it?
Customer: I need some of my money available in a year
or two. The rest I won't need for some time.
Advisor: In that case, here's what I'd do. I'd structure your
CDs in a ladder.
Customer: What's that exactly?
Advisor: Well, you invest some in a one year CD, some
in a two year CD, some in a five or ten year CD. You
get the idea.
Customer: I see. What's the advantage of that?
Advisor: CDs with longer terms pay a higher return. So
you get a higher rate of return overall.
Customer: Oh, that's good. And I'll still have access to
some of my money in a year or two.
Advisor: Precisely.

Unit 5

Advisor (F): Welcome, Mr. Johnson. What can I do for you?
Customer (M): Well, I've managed to save some money
and I'm thinking about investing in mutual funds.
Advisor (W): Okay, what appeals to you about them?
Customer: They seem like a great way to invest in several
different companies.
Advisor: Very true. Are there any specific funds you have
in mind?
Customer: I like the Vanadium Matrix Fund. Their averaae
annual returns have been fantastic over the past t~n
years.
Advisor: it's among the best funds. But remember, high
returns are not guaranteed. Mutual funds, even the
Matrix fund, can lose money if the market drops.
Answer Key

23


Audioscripts
Customer: Right, but don't past returns indicate good

UnitS

management?
Advisor: In most cases, yes. But there's another thing to
watch out for.
Customer: What's that?
Advisor: Some funds, like the Matrix Fund, charge high
management fees.

Customer: Oh. Does that cut into my return?
Advisor: it sure does.

Board Member 1 (M): We have to decide on whether to

Unit 6

Employee (M): Welcome to Winchester Community Bank.
May I help you?

Customer (F): Yes, I'd like to open a checking account.
Employee: Okay. Have you done business with us before?
Customer: Yes, I have. I took out an auto loan a few
years ago.

Employee: Has it been paid back?
Customer: Um, well, yes. But I had trouble making some
payments last year. Is this going to count against me
in any way?
Employee: it could limit your options. So let me see if I
can find your account. What's your name?
Customer: Patricia Morrow.
Employee: Okay, Ms. Morrow, it says you were late on
three payments.
Customer: Was it that many?
Employee: That's what our records say. It'll hurt your credit
score. But we can still offer you our basic checking
account, just not any of our preferred products.
Customer: Whew. I was worried you'd turn me down.

Unit 7

Banker (F): Thank you for coming in Mr. Wright. What can
I do for you?

Contractor (M): I'd like to apply for a performance bond
for an upcoming construction job. We're putting up a
small office building.
Banker: Okay. What's the estimated budget for the project?
Contractor: I've calculated $750,000.
Banker: Is that the amount you want for the bond?
Contractor: Yes.
Banker: And how long is the project expected to last?
Contractor: Our timeline is nine months. But I'm worried
about delays, so I'd like the bond to cover that entire
period plus three months.
Banker: Okay. We can do that.
Contractor: How soon will you be able to issue the bond?
Banker: I'll need to send your information to underwriting.
I usually hear back from them in five to seven days.
Contractor: Great. Let's talk about what information you
need.

24

Answer Key

expand our membership.

Board Member 2 (F): I think it's about time.

Board Member 1: I have to disagree.
Board Member 2: Why? What do you think?
Board Member 1: The founders of our credit union stated
that its mission was to serve the needs of federal
employees, so I think we should limit our eligibility.
Board Member 2: I think that's a mistake.
Board Member 1: What are you suggesting we do then?
Board Member 2: Well, we have an outstanding reputation,
and not only among our members. Lots of people
would love to join our credit union.
Board Member 1: But that doesn't mean we should let
them.
Board Member 2: No, it doesn't. But if we do, we can gain
the additional capital we need to expand.
Board Member 1: I think we should look to other means
of financing for the new branch.
Board Member 2: I don't know about that. Expanding our
membership seems safer and easier.

Unit9

Journalist (M): Thanks for agreeing to this interview.
Banker (F): My pleasure.
Journalist: I'll just jump right in. Your proprietary trading
team is very successful. How do they obtain such high
returns?
Banker: In short, we have an outstanding team.
Journalist: But what makes them so outstanding?
Banker: They're good at finding exceptional investment
opportunities. They analyze them carefully, and then

we act quickly and decisively based on their analyses.
Journalist: Could you give our readers an example?
Banker: Sure. Last year, we found a little known company,
Kenyan Corp. lt sells small batteries for electronics.
Nobody was investing in them.
Journalist: So why did you?
Banker: We liked their product and saw they had the
potential for huge growth. So we started with a $2.5
million investment in February. By May, it was worth
$5.3 million.
Journalist: And today?
Banker: it's now up to $10.2 million.

Unit 10

Professor (F): So, who can tell me why the Middle Office
is important?

Student (M): Well, without a Middle Office, a bank couldn't
manage risk.