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Business English Exercises
 

Comptroller General

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 268
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comptroller general answer 1
The head of the GAO is David M. Walker, Comptroller General of the United States, who was appointed October 1998 and whose term of office expires in October 2013.

Correct answer: (c) GAO

Meaning of business term GAO
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comptroller general answer 2
The Investment Company Act of 1940 regulates the organization of companies, including mutual funds, that engage primarily in investing, reinvesting, and trading in securities, and whose own securities are offered to the investing public.

Correct answer: (d) 1940

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comptroller general answer 3
NASD Regulation, Inc. advised member firms to amend their historical performance communications to add either updated performance figures or clear disclosure that current performance is less than the figures shown when a security experiences an 'abrupt negative change in performance'.

Correct answer: (b) Regulation

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comptroller general answer 4
It was, say federal regulators, a classic case of affinity fraud: Brazilian-Americans in the Boston area peddled dubious investments to other Brazilian-Americans in part by appealing to their common heritage and religion.

Correct answer: (a) affinity

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comptroller general answer 5
Form 10-Q is a quarterly report filed with the US Securities and Exchange Commission that includes unaudited financial statements and provides a continuing view of the company's financial position during the year; it must be filed for each of the first three quarters of the company's fiscal year.

Correct answer: (c) 10-Q

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comptroller general answer 6
This written policy outlines the proper procedures for requesting records from the Pennsylvania State Police (PSP) under Pennsylvania's Right-to-Know Law, 65 P.S. 66.1-66.9.

Correct answer: (b) Know

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comptroller general answer 7
The Bureau of the Public Debt announced today that Series HH Savings Bonds would no longer be offered to the public after August 31, 2004; issued since 1980, they were available in exchange for Series E or EE bonds and paid interest to their owners semiannually.

Correct answer: (d) HH

Meaning of business term HH
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comptroller general answer 8
A Victim Impact Statement can be written or oral, and not only provides the court with essential data which leads to appropriate sentences and suitable restitution, but also allows the victim to articulate the pain, anguish, and financial devastation the crime has caused.

Correct answer: (a) Impact

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comptroller general answer 9
We examine the impact of instalment receipts trading on the underlying stocks' volatility; IRs are a derivative security that evidences the purchase of an underlying security on an instalment basis, and they have been used to facilitate large secondary stock offerings in Canada.

Correct answer: (b) derivative

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comptroller general answer 10
The rationale for imposing assignee liability on the trusts that hold securitized predatory loans is compelling when it comes to foreclosures: if a securitized trust, not the original lender, is the one seeking foreclosure, the holder-in-due-course rule prevents the borrower from asserting defenses based on wrongdoing at origination.

Correct answer: (a) assignee

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