SECTION A In this section you will hear a
mini-lecture. You will hear the lecture ONCE ONLY. While listening to the
lecture, take notes on the important points. Your notes will not be marked, but
you will need them to complete a gap-filling task on ANSWER SHEET ONE after the
mini-lecture. Use the blank paper for note-taking. Complete the gap-filling task. Some of the gaps below may require a
maximum of THREE words. Make sure the word(s) you fill in is (are) both
grammatically & semantically acceptable. You may refer to your
note. The Stock Market When a
new company is organized and shares are sold, it is not hard to determine the
value of each share: all the shares together represent the total value of the
company. Ⅰ. The best way to explain how the stock market
works. To imagine you form a company to produce a soda
with 4 friends: 1) putting in $600 together for the expenses
involved in the (1) of (1) ______
the company; 2) stating every (2)
represents $10 of the present value of the company; (2)
______ 3) owning a share signifies--a part owner of the
company. Ⅱ. Stock price increases when (3) is
good and the value of the company (3) ______
jumps. 1) the (4) $600
invested→$1,800 in value at present (4) ______ 2)
$10 per share originally → (5) each currently
(5) ______ Ⅲ. Stock price falls when business is worse and the
value of the company drops. 1) (6)
of $1,800 → a low point of $300 (6) ______ 2) $30
per share $5 → per share Ⅳ. How to buy stocks
1) to find a (7) buying and selling stock for other
people; (7) ______ 2) the stockbroker’s entering a
stock market; 3) the stockbroker’s inquirement of other brokers
about your buying; 4) the stockbroker’s (8)
of the stock purchase; (8) ______ 5) to pay the
bill the amount of purchase & the stockbroker’s (9)
(9) ______ You have to pay the broker
whenever he buys and sells for you, (10) (10)
______ each time you sell stock and sometimes when you buy. You may also pay
a small fee to the owners of the place where the stock is bought or
sold.