大学英语四级综合-55
(总分：180.00，做题时间：90分钟)
赞美老师的演讲稿一、Unit 4(总题数：4，分数：180.00)
Passage One
①The California Public Employees' Retirement System(CalPERS) has positioned itself as the premier champion of investor rights, regularly singling out bad managers at some of the nation's largest companies in its annual corporate-guvemance focus lists. And with $153 billion under management, Wall Street tends to listen when CalPERS speaks out. But the country's largest pension fund has never taken on as big a fish as it did Dec. 16, when it filed a class action against the New York Stock Exchange and seven of its member firms. CalPERS' suit charges the NYSE and specialist firms with fraud, alleging that the exchange skirted its regulatory duties and allowed its members to trade stocks at the expense of investors.
The move is a major slap in the face for the NYSE's recently appointed interim Chairman Jo
①The California Public Employees' Retirement System(CalPERS) has positioned itself as the premier champion of investor rights, regularly singling out bad managers at some of the nation's largest companies in its annual corporate-guvemance focus lists. And with $153 billion under management, Wall Street tends to listen when CalPERS speaks out. But the country's largest pension fund has never taken on as big a fish as it did Dec. 16, when it filed a class action against the New York Stock Exchange and seven of its member firms. CalPERS' suit charges the NYSE and specialist firms with fraud, alleging that the exchange skirted its regulatory duties and allowed its members to trade stocks at the expense of investors.
The move is a major slap in the face for the NYSE's recently appointed interim Chairman Jo
学前教育就业方向及前景hn Reed. The former Citibank chairman and CEO came on board in September after the exchange's longtime head, Richard Grasso, resigned under pressure over public outrage about his excessive compensation.
②Reed has been widely criticized by CalPERS and other institutional investors for not including representatives of investors on the exchange's newly constituted board and not clearly separating the exchange's regulatory function from its day-to-day operations. The CalPERS lawsuit is evidence that the investment communities' dissatisfaction hasn't ebbed(衰退). "Our hopes were dashed when Mr. Reed didn't perform," says Harrigan.
The suit alleges that seven specialist firms profited by abusing and overusing a series of trading tactics. ③The tactics, which are not currently illegal, include "penny jumping", where a firm positions itself between two orders to capture a piece of the price differential, "front running", which involves trading in advance of customers based on confidential information obtained by their orders, and "freezing" the finn's order book so that the firm can make trades on its own account first.
The suit highlights the growing frustration that institutional investors have expressed with
②Reed has been widely criticized by CalPERS and other institutional investors for not including representatives of investors on the exchange's newly constituted board and not clearly separating the exchange's regulatory function from its day-to-day operations. The CalPERS lawsuit is evidence that the investment communities' dissatisfaction hasn't ebbed(衰退). "Our hopes were dashed when Mr. Reed didn't perform," says Harrigan.
The suit alleges that seven specialist firms profited by abusing and overusing a series of trading tactics. ③The tactics, which are not currently illegal, include "penny jumping", where a firm positions itself between two orders to capture a piece of the price differential, "front running", which involves trading in advance of customers based on confidential information obtained by their orders, and "freezing" the finn's order book so that the firm can make trades on its own account first.
The suit highlights the growing frustration that institutional investors have expressed with
what they perceive as a system that needs to be revamped(修补)-if not eliminated. According to California State Comptroller Steve Westley, a CalPERS board member who participated in the Dec. 16 press conference, has repeatedly called on the NYSE to end its use of specialist firms to facilitate trades and move to a system of openly matching of buyers and sellers. BLIND EYE? "There's no reason not to move to a fully automated exchange," Westley says. "Every exchange in the world is using such a system. The time is now for the NYSE to move into the 21st century and remove the cloud that there's self-dealing working against investors./
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(1).What does the word "a fish" (Line 5, Par（分数：9.00）
A.1) probably refer to?A. CalPERS.B. Pension fund.C. Wall Street.D. NYS
解析：语义题。定位到第一段倒数第二句，“但是，这个全国最大的退休基金会还从没有像12月16日那样逮住这么大的一条鱼……”，后一句说“指控NYSE有欺诈行为”，因此鱼指的
是NYSE。
(2).The CalPERS lawsuit indicates that______（分数：9.00）
A.the NYSE did ignore its regulatory duties
B.John Reed should resign like his predecessor
C.the investors were dissatisfied with the NYSE √
D.the exchange should have its board reelected
解析：细节题。由第三段第二句话可知，CalPERS lawsuit证明了投资委员会对其不满，故选C。
(3).Which of the following statements is NOT true?（分数：9.00）
A.Investors were not sufficiently represented on NYSE's board.
B.The seven specialist firms made profits by illegal procedures. √
C.CalPERS' suit against the NYSE resulted largely from a SEC's report.
河南景区 D.NYSE had ignored the firms' improper operations for a long tim
解析：推断题。由第四段前两句可知，七家公司的手段目前并未违法，可见B项不对。
(4).According to Westley, NYSE's problem results from ______（分数：9.00）
A.its reliance on specialist firms √
B.its system of matching traders
C.its automated exchange
D.its violation of investors' interests
解析：推断题。由最后一段第二句可知NYSE的问题，在Westley看来，是过于依赖专营公司开展业务，故答案为A。
(5).The best title for the text may be ______（分数：9.00）
A.Champion of Investor Rights √
B.Seven Specialist Firms
C.CalPERS Speaks Out to Wall Street
D.Lawsuits Against NYSE
解析：主旨题。这是一篇新闻报道，全文讲述了CalPERS为了投资者的权益而将NYSE告上法庭，可见文章标题应为A(投资者权益的捍卫者)。
Passage Two罗威拿犬
The strategic role of advertising in marketing programs varies by time, place, and company. Advertising is but one element of the promotional blend of advertising, personal selling, and sales promotions, and promotion is but one element of the marketing program. The potential cost and accomplishment of advertising must be weighed against the cost and benefits to be gained by focusing on other elements of the promotional or marketing program. Advertising can be most effective in a nation with well-developed adv
The strategic role of advertising in marketing programs varies by time, place, and company. Advertising is but one element of the promotional blend of advertising, personal selling, and sales promotions, and promotion is but one element of the marketing program. The potential cost and accomplishment of advertising must be weighed against the cost and benefits to be gained by focusing on other elements of the promotional or marketing program. Advertising can be most effective in a nation with well-developed adv
ertising facilities and a market that responds to such stimulation.
Like any other strategic weapon, advertising should be used only when it can contribute economically and effectively to the attainment of corporate goals. Advertising is both potentially and actually a force enhancing economic development. Newspapers. magazines, television, and radio have all developed and flourished in large part because of the great sums of money supplied to these media through advertising expenditures. ① The growing economic health of the media and the freedom from central control which advertising funds make possible, greatly enhance communications throughout the world; and effective communication is a basic requirement of economic development.
Most analyses of the economic aspects of advertising concentrate on the contributions of advertising in helping to develop mass markets, which in turn foster mass production and facilitate mass distribution. Advertising's function is not to rob sales from competitors, but to teach new need satisfying consumption patterns in developing countries. As one authority notes, "The role of the mass media in developing countries is often to spur primary demand instead of building brand preference as in industrialized countries."
Like any other strategic weapon, advertising should be used only when it can contribute economically and effectively to the attainment of corporate goals. Advertising is both potentially and actually a force enhancing economic development. Newspapers. magazines, television, and radio have all developed and flourished in large part because of the great sums of money supplied to these media through advertising expenditures. ① The growing economic health of the media and the freedom from central control which advertising funds make possible, greatly enhance communications throughout the world; and effective communication is a basic requirement of economic development.
Most analyses of the economic aspects of advertising concentrate on the contributions of advertising in helping to develop mass markets, which in turn foster mass production and facilitate mass distribution. Advertising's function is not to rob sales from competitors, but to teach new need satisfying consumption patterns in developing countries. As one authority notes, "The role of the mass media in developing countries is often to spur primary demand instead of building brand preference as in industrialized countries."
Advertising has demonstrated its effectiveness as a teacher of new ways of living. It shows people how to use products and gives them confidence to try better foods, new ways of keeping clean, use of tools, and a whole host of improved ways of living. Advertising also explains the use of money to purchase alternatives to save for the future and for future purchases. In effect, advertising helps to change expectations for the material future as well as aid economic and social change. Once mass markets have been developed, mass production inevitable follows, bringing the consequent economies of large scale operation. Then advertising enters the picture again to facilitate mass distribution by helping to establish brand names, product preference, and product information and by performing other consumer assistance functions.
（分数：45.00）
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(1).According to the first paragraph, which of the following statements is NOT true?（分数：9.00）
A.Advertising is most effective in developed countries.
B.Advertising is one of the elements of the promotional advertisings mixed with personnel selling and sales promotions.
C.Advertising is regarded as one of the strategic weapons.
D.Advertising has nothing to do with the other elements of promotional or marketing programs. √
解析：细节题。文章第一段第二句提到广告只是企业推广措施中的一个因素，它和个人销售、销售推广结合在一起。因此选项D与文中所述内容不符，为正确答案。选项A的内容在第一段最后一句得到了体现。
(2).The phrase "economic health" (Line 6, Par（分数：9.00）
A.2) refers to ______.A. good condition of economyB. economically less flourished conditionC. economic freedomD. economic system √
解析：语义题。该短语所在句的意思是广告资金使媒体经济情况的健全程度不断发展，使
郑州小饰品批发其不再受制于人，极大地推动了世界范围的交流。因此选项A符合文义，其他三项不合逻辑。
(3).The word "spur" in (Line 6, Par（分数：9.00）
A.3 ) could be replaced by which of the following without changing its meaning?A. Increase.B. Stimulate.C. Change.D. Influenc
解析：语义题。从文中可知与spur搭配的是primary demand(指发展中国家人民的基本需求)；A(提高)、C(改变)、D(影响)在该语境下都不合适，只有B(刺激)符合文义。
(4).According to the author, the main function of advertising is ______（分数：9.00）
& promote sales √
& build brand preference
& buy alternatives
& improve ways of living
解析：推断题。从文中可知，广告是企业市场推广计划的一部分，无论是培养新的需求还是培养新的生活方式，它们的目的都是为企业开发市场，其实质是促进产品销售，故选A。第三段第二、三句也指出了广告的作用在于创造新的需求，即推动产品销售。
(5).This passage most probably comes from a book on______（分数：9.00）
A.international commercial law
佳能lbp2900驱动下载 B.international finance
C.international marketing management √
D.international disputes
解析：推断题。文章开始指出广告在市场经济中的战略地位因时因地而宜，后文的论述也是围绕广告如何开发市场。因此在提供的四个选项中C最符合题意。
Passage Three
For all his vaunted(夸耀) talents, Federal Reserve Chairman Alan Greenspan has never h
For all his vaunted(夸耀) talents, Federal Reserve Chairman Alan Greenspan has never h
ad much of a reputation as an economic forecaster. In fact, he shies away from making the precise-to-the-decimal-point predictions that many other economists thrive on. Instead, he owes his success as a monetary policymaker to his ability to sniff out threats to the economy and manipulate interest rates to dampen the dangers he perceives.
Now, those instincts are being put to the test. Many Fed watchers-and some policymakers inside the central bank itself-are beginning to wonder whether Greenspan has lost his touch. ODespite rising risks to the economy from a swooning stock market and soaring oil prices that could hamper growth, the Greenspan-led Federal Open Market Committee (FOMC) opted to leave interest rates unchanged on Sept. 24. But in a rare dissent, two of the Fed's 12 policymakers broke ranks and voted for a cut in rates-Dallas Fed President Robert D. McTeer Jr. and central bank Governor Edward M.Gramlich.
The move by McTeer, the Fed's self-styled "Lonesome Dove", was no surprise. But Gramlich's was. This was the first time that the monetary moderate had voted against the chairman since joining the Fed's board in 1997. And it was the first public dissent by a governor since 1995.
Now, those instincts are being put to the test. Many Fed watchers-and some policymakers inside the central bank itself-are beginning to wonder whether Greenspan has lost his touch. ODespite rising risks to the economy from a swooning stock market and soaring oil prices that could hamper growth, the Greenspan-led Federal Open Market Committee (FOMC) opted to leave interest rates unchanged on Sept. 24. But in a rare dissent, two of the Fed's 12 policymakers broke ranks and voted for a cut in rates-Dallas Fed President Robert D. McTeer Jr. and central bank Governor Edward M.Gramlich.
The move by McTeer, the Fed's self-styled "Lonesome Dove", was no surprise. But Gramlich's was. This was the first time that the monetary moderate had voted against the chairman since joining the Fed's board in 1997. And it was the first public dissent by a governor since 1995.
Despite the split vote, it's too soon to count the maestro (艺术大师) of monetary policy out. Greenspan had good reasons for not cutting interest rates now. And by acknowledging in the statement issued after the meeting that the economy does indeed face risks, Greenspan left the door wide open to a rate reduction in the future. Indeed, former Fed Governor Lyle Gramley thinks chances are good that the central bank might even cut rates before its next scheduled meeting on Nov.6, the day after congressional elections.
So why didn't the traditionally risk-averse Greenspan cut rates now as insurance against the dangers dogging(尾随) growth? For one thing, he still thinks the economy is in recover), mode. Consumer demand remains buoyant and has even been turbocharged(涡轮增压) recently by a new wave of mortgage refinancing. Economists reckon that homeowners will extract some $100 billion in cash from their houses in the second half of this year. And despite all the corporate gloom, business spending has shown signs of picking up, though not anywhere near as strongly as the Fed would like.
Does that mean that further rate cuts are off the table? Hardly. Watch for Greenspan to tr
So why didn't the traditionally risk-averse Greenspan cut rates now as insurance against the dangers dogging(尾随) growth? For one thing, he still thinks the economy is in recover), mode. Consumer demand remains buoyant and has even been turbocharged(涡轮增压) recently by a new wave of mortgage refinancing. Economists reckon that homeowners will extract some $100 billion in cash from their houses in the second half of this year. And despite all the corporate gloom, business spending has shown signs of picking up, though not anywhere near as strongly as the Fed would like.
Does that mean that further rate cuts are off the table? Hardly. Watch for Greenspan to tr
y to time any rate reductions to when they'll have the most psychological pop on business and investor confidence. That's surely no easy feat, but it's one that Greenspan has shown himself capable of more than once in the past. Don't be surprised if he surprises everyone again.
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