BUSINESS COMMUNICATION FOR FINANCIAL SERVICES Stage-I

ISQ EXAMINATION (WINTER) 2008

Q.1

(A)

Please write the alphabet of selected answer in the given space:

(05)
(Answer)

The difficulty of managing risk is that managers have to examine a

range of possible ___________________.
1

Q.1

A)
C)

Outlets
Outcomes

B)
D)

Outputs
Outgoings

(B)

Complete the definitions with items given below:

A)
D)
G)

Fraudulent
integrity
unscrupulous

1)

_____________ is the fact of being responsible for ones actions, and ready to
explain them if required.

2)

_____________ methods of actions intend to deceive people, often in order to

gain money illegally.

3)

_______________ is the quality of being honest and having strong moral

principles.

4)

A _____________ is someone who informs the public that the company they
work for has engaged in illegal practices.

5)

A _____________ person respects the law.

6)

An organization or companys _____________ is meant to communicate its

aims to the public.

7)

Someone who is _____________ cannot be persuaded to act dishonestly.

8)

Someone who is _____________ has no moral principles and would do

anything to get what they want.

B)
E)
H)

accountability
Law-abiding
whistleblower

(04)
C)
F)

incorruptible
mission statement

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Q.1

(C)

Cross out the verb in each list that does not make a word combination
with the noun on the right.
(05)

approve/circulate/draw up/go through/hold/put

something on

an agenda

arrive at/break/carryout/implement/reach/take

a decision

call/call off/chair/close/hold/take

a meeting

approve/distribute/go through/set/take/write

the minutes

achieve/agree on/deal with/move towards/reach/set

an objective

agree with/ask for/express/find/give/hold

approve/carry out/do/implement/present/reject

a plan

avoid/deal with/get round/overcome/put/tackle

a problem

agree on/arrive at/look after/come up with/find/offer

a solution

10

agree with/come to/consider/dismiss/put

forward/reject

an opinion

a suggestion

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Q.2

A manager is comparing business in the past with business now. Complete what
he says using the words given below:
(08)

1-8
economy
value

vision
global

customer
flatter

stakeholders
outsourced

Well, the most important difference, obviously, is that nowadays were all operating
in a (1) _______________ market, rather than simply a national one the so-called
borderless (2) _____________________. And the increased amount of competition
means that this company, at any rate, has gone from being product-driven to much
more (3) _______________ - oriented. And whereas we used to focus on price, now
we focus on customer (4) ____________________. And where we used to set goals,
we now have something called a corporate (5) ________________. A lot of it is just
a change in terminology but it certainly looks like were doing something new!
A companys chief responsibility used to be to its shareholders, but these days we
prefer to talk about (6) ____________________ - not just the people with a financial
stake in the company, but everyone who has an interest in the way it runs. A big
change in the organization of this company is that we now have a much
(7) _____________________ structure, instead of the old hierarchy. Everything used
to be kept in house. Now a lot of work is (8) ______________________. So, were a

9-16
flexibility
functional

effectiveness
total

layers
empowered

learning
networked

(9) ___________________ company now, with fewer (10) ___________________ of

management. For the most part, we work in cross - (11) _____________________
teams, which gives us much greater (12) _____________________. And we aim to
have an (13) _____________________ rather than simply loyal workforce. That
means we give training and development top priority. In fact, we like to think were a
(14) ____________________ company. For us, now (15) ___________________ is a
much more important concept than efficiency and we see product quality as just one
part of a (16) ______________________ quality mindset.
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Q.3

Complete the text using these words:

(06)

Cash dispensers
Cheque
Credit card
Deposit account
Foreign currency Investment advice
Mortgage
Overdraft
Pension
My salary is paid directly into a ___________ I can withdraw

Current account
Loan
Standing order
money from automatic

_______________ with a cashcard, so I hardly ever actually go into a bank. I pay regular,
monthly bills by way of a ____________: the bank pays them accordingly to my instructions, and
debits my account. I pay irregular bills by _____________. Nearly everyone I know in Britain
has a cheque book, but when I lived on the Continent, I found that people hardly used them.
They often paid cash, or paid bills at a post office with a paying-in-slip.
I also have a ________, which is useful for ordering things by post or on the telephone, and for
traveling worldwide. I also use it in shops and restaurants, but try not to spend more than I can
pay when the bill comes a month later, as this is very expensive way of borrowing money. The
annual interest is exorbitant well over 20%.
I used to have a ___________ in a National Savings which paid higher interest than the current
account at the bank, but had restrictions as to how and when I could withdraw my money. But
then we bought a flat. I got a 90% _________ from the National Savings: i.e. we had to pay a
deposit of 10% with our own savings.
That is why I have no more money and no more deposit account. In fact I have arranged an
__________________ with the bank, which means I can occasionally withdraw more money than
is actually in my account.

Interest is calculated daily.

Last year I asked the bank for a

______________________ to buy a car. I (only!) wanted two months salary, but they refused.
Since I dont like the high interest rates that the garages hire purchase people charge, I bought a
cheap second-hand car instead.
I always use the bank to buy __________ when I go abroad, because their rates are better than the
bureaux de change. I dont like travellers cheques and Ive never had my money stolen yet.
My bank is also always trying to sell me a private ____________ plan, for when I retire, but Im
not interested. They also keep offering me ____________ about shares, bonds, unit trusts,
mutual funds, and so on. They dont seem to realize that if I could afford to buy all these things, I
wouldnt need an overdraft.
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Q.4

(A)

Match up the following phrasal verbs with the verbs (given at serial
1 - 10) that have a similar meaning:
(05)

Phrasal Verbs
Bring about
Go under
Wind up
bankrupt

Build up
Plough back profits
Wipe out

Deal with a problem

Put up funds
Write off

Answer

Q.4

Abandon debts as irrevocable

Accumulate

Cause

Destroy

Insolvent

Fail

Force a company to stop trading

Provide funds

Re-invest profits

10

Do something about a problem

(B)

Complete the text below using each of the phrasal verbs above once. You
may need to use the past tense, the past participle or the present
continuous form.
(10)

We had a serious problem with accounts receivable, and were forced to (1) ___________
thousands of rupees of bad debts, when one of our customers went (2) __________________
and was (3) ________________________ by the receiver. If the managing director hadnt
(4) __________________________ some of his own money, the company could have been
(5) __________________. For a time, it looked as if we were going to (6) ______________.
We were teetering on the brink of bankruptcy.

It became clear that we hadnt

(7) _______________ enough of our earnings into the company, or (8) __________________
enough reserves to (9) __________________ such a situation. You often read about one
bankruptcy (10) _________________ a chain of others well, it nearly happened to us.

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Q.5

Number the following words or expressions with their underlined and Bold
equivalents in the text.
(05)

Answer

Answer
external
deficiencies
deviations
transnational corporations
implemented

checking
standard operating procedures
directives
subsidiaries
a synonym

The traditional definition of auditing is a review and an evaluation of financial records by a

second set of accountants. Internal auditors look for (1) departures from (2) a firms
established methods for recording business transactions. In most countries, the law
requires all firms to have their accounts audited by an outside company. An (3) independent
audit is thus a review of financial statements and accounting records by an accountant not
belonging to the firm. Auditors write an official audit report. They may also address a
management letter to the directors, outlining (4) inadequacies and recommending
improved operating procedures. This leads to the more recent use of the word audit as
(5) an equivalent term for control: (6) multinational companies, for example, might
undertake inventory, marketing and technical audits. Auditing in this sense means
(7) verifying that general management (8) instructions are being (9) executed in branches,
(10) companies which they control, etc.

Q.6

The following sentences all contain unnecessary words. Rearrange each

sentence, improving it by using fewer and simpler words, but without changing
the sense:
(10)
i)

He was completely inaudible, and no one could hear him.

ii)

We were sitting alone, all by ourselves when he arrived.

iii)

We enjoyed our holiday this year equally as well as last years.

iv)

It is very doubtful as to whether he will gain the promotion he is expecting.

v)

Applicants for employment in our factory abound in great numbers.

vi)

There is no question whatever but that the mistake was his own.

vii)

Our traveller will call you if and when you ask him to do so.

viii)

When the new clerks arrive each will be told what his respective duties are.

ix)

A quite unique feature of the firms new lorries is their low petrol
consumption.

x)

We have received your letter and the same shall have our urgent and
immediate attention.

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Q.7

RE-WRITING GRAMMATICALLY CORRECT SENTENCE

(15)

(A) Complete the second sentence in each pair so that it has approximately the same
meaning as the first sentence. Use between Two and Five words, including the
word given, and a word related to one of the words in the first sentences:-

(B)

(i)

As far as I know, the seminar has been postponed.

BEST
To ____________________________________________, the seminar
has been postponed.

(ii)

If we do not set up a corporate responsibility team, shareholders may

lose confidence in our approach.
UNLESS
Shareholders may lose confidence in our approach ________________
_______________a corporate responsibility team.

(iii)

Our organization has made every effort to get rid of age and gender
discrimination
STAMP
Our organization has made very effort __________________________
age and gender discrimination.

(iv)

One of the directors pointed out to the board a number of

inconsistencies in the report
DREW
One of the directors _______________________________________ a
number of inconsistencies in the report.

POLITE QUESTION FORMS

Rewrite the requests and offers to make them sound friendlier and more polite
using the words in brackets to help you.
(i)
(ii)
(iii)
(iv)

(C)

Dont mention this to anyone else. (could / ask you)

Can you do some overtime next week? (Think / could / ask)
It is OK to leave early today? (do / mind / if )
Do you want me to give you a few days to think about it ? (would /
help/give)

DIPLOMACY AND PERSUASION

Look at the negotiation extract. Make the direct remarks more diplomatic and
persuasive using the words in brackets to help you.
Abid: You said wed get 90 days free credit. (were promised / 90
days free credit).
Bashir: Yes, but you said youd be placing a larger order.
(respect / was understood / rather larger)
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Abid: Look, this is getting us nowhere. We want free credit

(doesnt seem / getting / very far / afraid / must insist / free credit ).
Bashir: Well, I cant offer you that unless you increase your order.
(unfortunately / unable / offer / youre prepared / slightly)
(D)

CONDITIONAL SENTENCES
Re-write the following as conditional sentences:
(A)
He isnt a good communicator. We cant ask him to conduct the
negotiation.

If he
(B)

They didnt set a realistic timescale. The project wasnt completed on

time.

(C)

I didnt realize my client was dissatisfied I didnt make a substantial

concession.

If they
If I
Q.8

Rewrite the impersonal e-mail below using only active verbs and replacing
some of the more formal words and phrases with friendlier-sounding
alternatives from the phrases given below:
(05)
In this way
penciled in
meet

each other
up to speed
various

get the chance

seeing you there
from now on.

Look forward
exchange views

It has been decided that an interdepartmental meeting will henceforth be held

every month. Heads of department will thus be able to network and generally be
brought up to date on recent developments in other departments. Furthermore,
they will be given the opportunity to have their voice heard on a number of
matters relating to overall corporate strategy.
The first meeting is scheduled for next Thursday. Your attendance would be
appreciated.
Rizwan Ahmed

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Q.9

You work for a new international organization which is expanding rapidly. Your
Managing Director has asked you to comment on the desirability of a Code of
Conduct for all the staff in the future. Write a report in which you.
(12)

explain the usefulness/ necessity of such a Code of Conduct

explain how it would benefit both the organization and its staff.
outline possible areas of content.

Q.10 Your CEO is interested in introducing Flex time, an approach that allows
employees to report for work as long as they complete their 09:00 a.m. to
05:00 p.m. He has asked you to make a recommendation about how this can be
done. He would be interested in how other organizations and employees have
benefited from the Flex time approach.
(10)
Write a proposal for the CEO including the following information:

The organizations and industries that practice flextime (assume names

and details)
The benefits of flextime
The procedure involved
Your recommendation

-.-.-.-.-

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