MBA真题卷阅读翻译.docx

1、MBA真题卷阅读翻译2001年 The stability of the U.S. banking system is maintained by means of supervision and regulation,inspections,deposit insurance,and loans to troubled banks.For over 50 years,these precautions have prevented banking panics.However,there have been some close calls.The collapse of Continent

2、al lllinois Bank & Trusted Company of Chicago in 1984 did not bring down the banking system,but it certainly rattled some windows. In the late 1970s,Continental soared to a leadership position among Midwestern banks.Parts of its growth strategy were risky,however.It made many loans in the energy fie

3、ld,including billion that it took over from Penn Square Band of Oklahoma City.To obtain the funds it needed to make these loans,Continental relied heavily on short term borrowing from other banks and large,30 day certificates of deposit-hot money,in banking jargon.At least one Continental officer sa

4、w danger signs and wrote a warning memo to her superiors,but the memo went unheeded .Although the Comptroller of the Currency inspected Continental on a regular basis,it failed to see low serious its problems were going to be. Penn Square Bank was closed by regulators in July 1982.When energy prices

5、 began to slip,most of the billion in loans that Continental had taken over from the smaller banks turned out to be had.Other loans to troubled companies such Chrysler,lnternational Harvester,and Braniff looked questionable.Seeing these problem，hot moneyowners began to pull their funds out of Contin

6、ental. By the spring of 1984,a run on Continental had begun.In May,the bank had to borrow .5 billion from the Fed to replace overnight funds it bad lost.But this was not enough.To try to stem the outflow of deposits from Continemtal,the FDIC agreed to guarantee not just the first ,000 of each deposi

7、tor s money but all of it.Nevertheless,the run continued. Federal regulators tried hard to find a sound bank that could take over Continental-a common way of rescuing failing banks.But Continental was just too big for anyone to buy.By July,all hope of a private sector rescue was dashed.Regulators fa

8、ced a stark choice:Let Continental collapse,or take it over themselves. Letting the bank fail seemed too risky.It was estimated that more than 100 other banks had placed enough funds in Continental to put them at risk if Continental failed.Thus,on a rainy Thursday at the end of July,the FDIC in effe

9、ct nationalized Continental Illinois at a cost of .5 billion.This kept the bank s doors open and prevented a chain reaction.However,in all but a technical sense,Continental had become the biggest bank failure in U.S.history. 31 .In the spring of 1984,Continental experienced-. A a fast growth period.

10、 B a stability period C a run. D an oil price decrease. 32 .By July,all hope of a private sector rescue was-. A destroyed. B absurd C desperate. D damaged. 33 .The nationalizatin of Continental-. A saved it B madehot moneyowners continue to pull their funds out of Continental. C almost brought down

11、the banking system D fired many high ranking officers. 34 .Banking panics may be prevented by means of-. A deposit insurance. B growth strategy C long term borrowing. D warning memo. If sustainable competitive advantage depends on work force skills,American firms have a problem.Human resource manage

12、ment is not traditionally seen as central to the competitive survival of the firm in the United States.Skill acquisition is considered as an individual responsibility.Labor is simply another factor of production to be hired-rented at the lowest possible cost-much as one buys raw materials or equipme

13、nt. The lack of importance attached to human resource management can be seen in the corporation hierarchy.In an American firm the chief financial officer is almost always second in command.The post of head of human resource managements is usually a specialized job,off at the edge of the corporate hi

14、erarchy.The executive who holds it is never consulted on major strategic decisions and has no chance to move up to Chief Executive Officer(CEO).By way of contrast,in Japan the head of human resource management is central-usually the second most important executive,after the CEO,in the firms hierarch

15、y. While American firms often talk about the vast amounts spent on training their work forces,in fact they invest less in the skill of their employees than do the Japanese or German firms.The money they do invest is also more highly concentrated on professional and managerial employees.And the limit

16、ed investments that are made in training workers are also much more narrowly focused on the specific skills necessary to do the next job rather than on the basic background skills that make it possible to absorb new technologies. As a result,problems emerge when new breakthrough technologies arrive.

17、If American workers,for example,take much longer to learn how to operate new flexible manufacturing stations than workers in Germany(as they do),the effective cost of those stations is lower in Germany than it is in the United Stated.More time is required before equipment is up and running at capaci

18、ty,and the need for extensive retraining generates costs and creates bottlenecks that limit the speed with which new equipment can be employed.The result is a slower pace of technological change.And in the end the skills of the bottom half of the population affect the wages of the top half.If the bo

19、ttom half can t effectively staff the processes that have to be operated,the management and professional jobs that go with these processes will disappear. 35 .Which of the following applies to the management of human resources in American companies? A .They hire people at the lowest cost regardless

20、of their skills.B .They see the gaining of skills as their employees own business.C .They attach more importance to workers than to equipment. D .They only hire skilled workers because of keen competition.36 .What is the position of the head of human resource management in an American firm? A .He is

21、 one of the most important executives in the firm. B .His post is likely to disappear when new technologies are introduced.C .He is directly under the chief financial executive. D .He has no authority in making important decisions in the firm.37 .The money most American firms spend in training mainl

22、y goes to-.A workers who can operate new equipment B technological and managerial staff C workers who lack basic background skills D top executives. 38 .What is the main idea of the passage? A .American firms are different from Japanese and German firms in human resource management.B .Extensive retr

23、aining is indispensable to effective human resource man agement.C .The head of human resource management must be in the central position in a firms hierarchy.D .The human resource management strategies of American firms affect their competitive capacity.Internet is a vast network of computers that c

24、onnects many of the world s businesses,institutions,and individuals.The internet,which means interconnected network of networks,links tens of thousands of smaller computer networks.These networks transmit huge amounts of information in the form of words,images,and sounds.The Internet was information

25、 on virtually every topic.Network users can search through sources ranging from vast databases to small electronicbulletin boards ,where users form discussion groups around common interests.Much of the Internet s traffic consists of messages sent from one computer user to another.These messages are

26、called electronic mail or e-mail.Internet users have electronic addresses that allow them to send and receive e-mail.Other uses of the network include obtaining news,joining electronic debates,and playing electronic games.One feature of the Internet,known as the World Wide Web,provides graphics,audi

27、o,and video to enhance the information in its documents.These documents cover a vast number of topics.People usually access the Internet with a device called a modem.Modems connect computers to the network through telephone lines.Much of the Internet operates through worldwide telephone networks of

28、fiber optic cables.These cables contain hair thin strands of glass that carry data as pulses of light.They can transmit thousands of times more data than local phone lines,most of which consist of copper wires. The history of the Internet began in the 1960s.At that time,the Advanced Research Project

29、s Agency (ARPA)of the United States Department of Defense developed a network of computers called ARPAnet.Originally,ARPAnet connected only military a nd government computer systems.Its purpose was to make these systems secure in the event of a disaster or was.Soon after the creation of ARPAnet,univ

30、ersities and other institutions developed their own computer networks.These networks eventually were merged with ARPAnet to form the Internet.By the 1990s,anyone with a computer,modem,and Internet software could link up to the Internet. In the future,the Internet will probably grow more sophisticate

31、d as computer technology becomes more powerful.Many experts believe the Internet may become part of a larger network called the information superhighway.This network,still under development,would link computers with telephone companies,cable television stations,and other communication systems.People

32、 could bank,shop,watch TV,and perform many other activities through the network. 39 .This passage is about the-of the Internet. A future. B general introduction C use. D history. 40 .Which of the following statements about the Internet is true? A .ARPA was the first net used by American universities and institutions.B .The history of the Internet can be traced back to fifty years ago.C .The purpose of the Internet is to protect the world in the event of w