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(B卷)I. Listening Comprehension (40%)This section is designed to test your ability to understand spoken English. You will hear a selection of recorded materials and you must answer the questions that accompany them. There are three parts in this section, Part A, Part B and Part C.Remember, while you are doing the test, you should first answer the questions in your test booklet, not on the ANSWER SHEET. At the end of the listening comprehension section, you will have 5 minutes to transfer your answers from your test booklet onto the ANSWER SHEET.If you have any questions, you may raise your hand NOW, as you will not be allowed to speak once the test has started.Part AYou will hear a radio program. As you listen, answer Questions 1 to 10 by circling True (T) or False (F). You will hear what he says ONLY ONCE.You now have 1 minute to read Questions 1-10.Part AYou will hear a radio program. As you listen, answer Questions 1 to 10 by circling True (T) or False (F). You will hear what he says ONLY ONCE.You now have 1 minute to read Questions 1-10.1. Professor Ernest Watson was delivering a lecture on the subject of learning a foreign language.TRUE/FALSE2. Mr. Humphries seldom went to Spain on holiday to practice his Spanish.TRUE/FALSF3. Mr. Humphries has been learning Spanish for four years.TRIJE/FALSE4. Mr. Humphries wanted to know how to improve his speaking and listening in Spanish.TRUE/FALSE5. Mr. Humphries didnt buy the BBC book, because he has already got one.TRUE/FALSE6. Professor Watson compared learning a language to learning to drive.TRUE/FALSE7. Mr, Humphries doesnt want to practice oral Spanish with other students in the class because they would make the same mistakes as he does.TRUE/FALSE8. It seems to Professor Watson that Mr. Humphries has got confused between learning a foreign language and practicing it.TRUB/FALSE9. According to Professor Watson, Mr. Humphries could improve his listening in Spanish by speaking to Spanish speakers in London.TRUE/FALSE10. According to Professor Watson, learning to speak a foreign language means being able to put together the right groups of words and to say them in a reasonably accurate wayTRUE/FALSEYou now have 20 seconds to check your answers to Questions 110. That is the end of Part A.Part BYou will hear 3 conversations or talks and you must answer the questions by choosing A, B, C or D. You will hear the recording ONLY ONCE.Questions 11 to 13 are based on a conversation between an executive and his secretary, Brenda.You now have 15 seconds to read Questions 11 to 1311. What did the man ask the woman to do yesterday?(A) To advertise a job in newspapers.(B) To watch the evening news on TV.(C) To arrange a job interview.(D) To contact the junior sales manager12. What kind of person is the man looking for?(A) A young man with a few A levels.(B) A college graduate of business.(C) A young man with a degree. (D) A college graduate of English.13. What does the woman think of the mans requirements?(A) Ambiguous.(B) Reasonable.(B) Sensible.(D) Unrealistic.You now have 30 seconds to check your answers to Questions 11 to 13.Questions 14 to 16 are based on a radio program from BBC. You now have 15 seconds to read Questions 14 to 16.14. The news item could be entitled .(A) “Solar-powered Cycle Race” (B) “Solar-powered Car Race”(C) “The World Challenge”(D) “Future of the Motor Car”15. why is the World Competition held in Australia this year?(A) Because Australia is located in the southern hemisphere.(B) Because Australia has taken the lead of the technology in the world(C) Because Australia is an ideal place with the length across its outback some 3,000 kilometers.(D) Because Australia is blessed with much sunshine.16. On average, the vehicles speed stood at kilometers an hour when the race first started decades ago.(A) 67(B) 38(C) 100(D) 200You now have 30 seconds to check your answers to Questions 14 to 16.Questions 17 to 20 are based on the following interview with Mr. Simon James, abanker, about his own experience of being successful.You now have 20 seconds to read Questions 17 to 20.17. Why did Simon go into banking?(A) To show his intelligence.(B) To be different from his brothers.(C) To follow in his fathers footsteps. (D) To fulfill an ambition.18. How did Simon say he became successful?(A) By working wholeheartedly for the clients.(B) By placing trust in his clients.(C) By offering bank managers his good ideas.(D) By listening to advice from other people.19. When Simon suddenly became famous, how did he feel?(A) Tired with so many radio and television interviews.(B) Threatened by reports finding out about his wealth.(C) Worried that ordinary people would envy his fortune.(D) Disturbed by the constant attention from the press.20. Which positive aspect of being famous does Simon mention?(A) Receiving praise from other people.(B) Gaining publicity for his business.(C) Reading nice things about himself in the paper.(D) Getting more invitations from his friends.You now have 40 seconds to check your answers to Questions 17 to 20. That is the end of Part B.Part CYou will hear an interview. As you listen, answer the questions or complete the notes in your test booklet for Questions 21 to 30 by writing NOT MORE THAN THREE words in the space provided on the right. You will hear the talk TWICE.You now have 1 minute to read Questions 21 to 30.21. How many guests are invoted in the program tonight? tonight?22. According to some pessimistic forecasts, the world will run out of its oil in .23. The first two guests, Professor Marvin Burnham and Jennifer Hughes, mainly discuss the pros and cons of 24. In order to conserve fossil fuels, Professor Marvin Burnham strongly suggests that should be the safest power to resort to.25. According to Professor Marvin Burnham, we will go back to the if we turn our backs on nuclear research.26. Its nuclear accident, nuclear waste and that make Jennifer Hughes consider the alternative energy unnecessary.27. Dr Catherine Woodstock is the of several books on alternative technology.28. According to Dr Catherine Woodstock, human beings will not continue living on the Earth unless we conduct related research and start working on sources of energy.29. Which ministry does Charley Wicks, a member of Parliament, come from in the country?30. What attitude does Charles Wicks develop towards the pessimistic forecast or estimate that the world will run out of energy resources?You now have 1 minute and 40 seconds to check your answers to Questions 21 to 30.That is the end of Part C. You now have 5 minutes to transfer all your answers from your test booklet to the ANSWER SHEET.That is the end of Listening Comprehension.II. Vocabulary (10%)Directions: There are 10 sentences in this part. Beneath each sentence there are 4 words or phrases marked A), B), C) and D). Choose the one word or phrase that correctly completes the sentence. Mark your answer on the ANSWER SHEET31. The governments policies in the past years have shown a(n) in emphasizing the necessity of improving the peasants livelihood.(A) behavior(B) agony(C) coherence(D) exaltation 32. The neighbors do not consider him quite as most evenings he awakens them with his drunken singing.(A) respectable(B) respective(C) respected(D) respectful33. The study shows that laying too much emphasis on exams is likely to students enthusiasm in learning English.(A) hold out (B) hold off(C) hold down(D) hold back34. The lady who has for a night in the dead of the winter later turned out to be a distant relation of his.(A) put him in(B) put him out(C) put him on(D) put him up35. Since it is late to change my mind now, I am to carrying out the plan.(A) resolved (B) engaged (C) obliged(D) committed36. One of the important properties of a scientific theory is its abilities to further research and further thinking about a particular topic.(A) stimulate(B) renovate(C) invent(D) advocate37. The board of Directors decided that more young men who were qualified would be important positions.(A) inserted into(B) furnished with(C) installed in(D) attributed to38. The gap between those at the lowest level and those at the highest level of income had increased , and is continuing to increase.(A) sufficiently (B) substantially (C) succinctly (D) successfully 39. The leaders of the two countries feel it desirable to funds from armaments to health and education.(A) divert(B) change(C) convert(D) derive40. It is doubtful whether anyone can be a truly observer of events.(A) genius(B) impassive(C) inadequate (D) impartialIII. Reading Comprehension (30%)Directions: Read the following passages and answer the questions which accompany them by choosing (A), (B), (C) or (D). Mark your answers on the ANSWER SHEET.Passage 1When Robert Shiller, a Yale economist and bestselling author, told a crowd of finance professors and economics students last spring that only 10 percent of his money was invested in stocks, they gasped.Managers might suggest anywhere from 50 to 90 percent. But 10 percent? This was heresy.How about 0 percent?Thats the share that investors should plow into domestic stocks, according to Ben Inker, director of asset allocation for Grantham, Mayo, and Van Otterloo & Co. (GMO), a money-management firm with some $85 billion in assets.Welcome to a contrarian view of todays equity markets. A small but vocal band of heretics is calling into question not only the profit potential of stocks but also the foundation for conventional wisdom about investing. Even for those who disagree with them, their arguments serve as a reality check for the market.Are conventional portfolio really as safe as experts say?“Dont be surprised that the Wall Street brokerage firms spend most of their time telling you that stocks are cheap,” warns Mr. Inker. “Wall Street likes the market. It likes trading. Wall Street makes a lot more money off of trading stocks than trading bonds.”The trick is to determine your portfolios exposure to risk, analysts say. And that depends - to a surprisingly large degree on how diversified it is and how long youre prepared to stay the course. These are key elements of “modern portfolio theory,” which came into being in the 1950s and eventually won its creator, Harry Markowitz, a Nobel Prize.Essentially, portfolio theory holds that investors reap the greatest return with the least risk when they allocate their money among diverse classes of assets, hold them for the long term, and rebalance the portfolio when the various classes of assets stray too far from their original allocation.To make it work, you need to own asset classes that dont move in lock step, make accurate estimates of their future returns, and use a very long time horizon. A miscalculation in even one of these steps, however, can seriously hurt the prospects for reaching your ultimate goal.“The long-term nature is the driving force of the portfolio,” says Jerry Korabilk, vice president of Ibbotson Associates, a Chicago-based asset allocation adviser. “All of our clients are institutions, and we develop portfolios with 10-, 20-, even 30-year time horizons.”Riding the roller coasterThus, investors should never try to get in and out of the market at specific times, the theory holds. Instead, they should ride the inevitable ebb and flow of prices. If they have allocated their money correctly, some portion of their portfolio will almost always be making money. By rebalancing their portfolios periodically selling off some of the winning asset classes and buying more of the losers they are continually buying low and selling high, at least in a relative sense.This buy-and-hold strategy has won over hordes of investors. The average Fidelity retirement account has nearly 60 percent of its money in stocks, a recent study found. The overall average for retirement accounts: 61 percent, according to the Employee Benefit Research Institute. Even equity allocations for college and university endowments hover around 57.1 percent, says the National Association of College and University Business Officers.The problem is that investors sometimes have to be extraordinarily patient for the strategy to pay off. In 1981, for example, the S& P 500 Index stood at the same level it first achieved in 1965. Today the index is about 30 percent lower than its peak in 2000. Do investors really have to put up with such long periods of losses?Profits of impatienceNo, say a small contingent of money managers. By avoiding the stock market as their primary engine for profit during the past five years, several of these managers have posted good returns.Take the Permanent Portfolio Fund. Unlike many balanced funds, which diversify primarily between stocks and bonds, it encompasses a much wider variety of assets: 20 percent gold bullion and coins, 5 percent silver bullion and coins, 10 percent Swiss franc denominated assets (typically Swiss government bonds), 15 percent US and foreign real estate and natural-resource company stocks, 15 percent aggressive-growth stocks, and 35 percent in dollar assets (Treasury securities in varying maturities and also short-term, high-grade bonds).Over the past five years, while the S & P 500 has slipped backward, the Permanent Portfolio Fund has averaged a startling 10.1 percent growth per year.“We dont correlate to any index because we own different assets,” says the funds manager, Michael Cuggino. “In markets where stocks and equities are going sideways or down, we perform very well because our diversification is much broader. If equities go gangbusters like in the 90s, clearly we are going to underperform because we wont be totally in stocks.”Indeed, the fund lagged significantly during the boom years of the 1990s, causing average annual returns for the decade to trail the S & P 500 by four percentage points.41. According to “modern portfolio theory,” we should .(A) buy one single kind of stocks(B) never sell our stocks(C) sell stocks whose prices go relatively too high in our portfolio(D) buy stocks whose prices fluctuates the same pace42. In the last paragraph, “The fund lagged significantly during the boom years of the 1990s, causing average annual returns for the decade to trail the S & P 500 by four percentage points.” We see from this sentence that .(A) the funds profits were not good enough(B) the funds performance during the 1990s is very poor(C) the fund lost money during the 1990s(D) the fund did exceedingly well during the 1990s43. What attitude does the author have towards conventional portfolios?(A) Skeptical.(B) Scathing. (C) Detached. (D) Boastful.44. In the last 2nd paragraph, “If equities go gangbusters like in the 1990s, clearly we are going to underperform because we wont be totally in stocks.” We know from this sentence all of the following except that .(A) the 1990s saw a booming stock market(B) “we” underperformed during the 1990s(C) “we” will change our course of action(D) “we” are not totally in stocksPassage 2Shams and delusions are esteemed for soundest truths, while reality is fabulous. If men would steadily observe realities only, and not allow themselves to be deluded, life, to compare it with such things as we know, would be like a fairy tale and the Arabian Nights Entertainments. If we respected only what is inevitable and has a right to be, music and poetry would resound along the streets. When we are unhurried and wise, we perceive that only great and worthy things have any permanent and absolute existence, and that petty fears and petty pleasure are but the shadow of reality. This is always exhilarating and sublime. By closing the eyes and slumbering, by consenting to be deceived by shows, men establish and confirm their daily life of routine and habit everywhere, which still is built on purely illusory foundation. Children, who play life, discern its true law and relations more clearly than men, who fail to live worthily, but who think they are wiser by experience, that is, by failure. I have read in a Hindoo book, that “there was a kings son, who, being expelled in infancy from his native city, was brought up by a forester, and, growing up to maturity in that state, imagined himself to belong to the barbarous race with which he lived. One of his fathers ministers having discovered him, revealed to him what he was, and the misconception of his character was removed, and he knew himself to be a prince. So soul, from the circumstances in which it is placed, mistakes its own character, until the truth is revealed to it by some holy teacher, and then it knows itself to be Brahma.” We think that is which appears to be. If a man should give us an account of the realities he beheld, we should not recognize the place in his description. Look at a meeting-house, or a court-house, or a jail, or a shop, or a dwelling-house, and say what that thing really is before a true gaze, and they would all go to pieces in your account of them. Men esteem truth remote, in the outskirts of the system, behind the farthest star, before Adam and after the last man. In eternity there is indeed something true and sublime. But all these times and places and occasions are now and here, God himself culminates in the present moment, and will never be more divine in the lapse of all ages. And we are enabled to apprehend at all what is sublime and noble only by the perpetual instilling and drenching of th

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