Section B 8（）

A.At 8:30．

B.At 8:45．

C.At 9:00．

D.At 9:30．

Section BDirections: In this section, you will hear 2 long conversations. At the end of each conversation, you will hear four questions. Both the conversation and the questions will be spoken only once. Questions 8 to 11 are based on the conversation you have just heard. What is the woman doing？

A．Hosting an evening TV program．

B．Having her bicycle repaireD

C．Lecturing on business management．

D．Conducting a market survey．

Section A

Directions: In this section, you will hear 8 short conversations and 2 long conversations. At the end of each conversation, one or more questions will be asked about what was said. Both the conversation and the questions will be spoken only once. After each question there will be a pause. During the pause, you must read the four choices marked A, B, C and D, and decide which is the best answer.

听力原文：M: Let me clean your windshield and check your water and you will be all set. They look so dirty and it's dangerous for you to drive the car.

W: Oh, thank you. How much of them？

Q: Where does this conversation take place？

(12)

A．At a hamburger shop.

B．At a parking lot.

C．At a laundry.

D．At a gas station.

ach conversation, you will hear four questions. Both the conversation and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A), B), C) and D). Conversation One Questions 8 to 11 are based on the conversation you have just heard. 8. Where does the woman live right now？

A．IndonesiA

B．HollanD

C．Sweden．

D．Englan

D．

Section D: 16. Where can you find the meeting rooms in the building On . 17. What kind of materials can be found on the second floor Current magazines and . 18. What rooms are on the fourth floor The rooms. 19. How many books can a student borrow books. 20. What are the opening hours on weekdays From 8:00 a.m.to

Section B – TWO questions ONLY to be attempted

GNT Co is considering an investment in one of two corporate bonds. Both bonds have a par value of $1,000 and pay coupon interest on an annual basis. The market price of the first bond is $1,079？68. Its coupon rate is 6% and it is due to be redeemed at par in five years. The second bond is about to be issued with a coupon rate of 4% and will also be redeemable at par in five years. Both bonds are expected to have the same gross redemption yields (yields to maturity).

GNT Co considers duration of the bond to be a key factor when making decisions on which bond to invest.

Required:

(a) Estimate the Macaulay duration of the two bonds GNT Co is considering for investment. (9 marks)

(b) Discuss how useful duration is as a measure of the sensitivity of a bond price to changes in interest rates. (8 marks)

Section B – TWO questions ONLY to be attempted

APX Accountancy (APX) is an accountancy partnership with 12 branches covering each of the main cities of Emland. The business is well established, having organically grown over the last 40 years to become the second largest non-international practice in Emland. The accountancy market is mature and expands and contracts along with the general economic performance of Emland.

APX offers accountancy, audit, tax and business advisory services. The current business environment in Emland is dominated by a recession and the associated insolvency work is covered within the business advisory area of APX.

At present, the practice collects the following information for strategic performance evaluation:

The above figures are for the most recent financial year and illustrate the metrics used by APX. Equivalent monthly figures are produced for each of the monthly partner meetings which review practice performance.

The staff are remunerated based on their grade, with non-partners obtaining a bonus of up to 10% of basic salary based on their line managers’ annual review. The partners receive a fixed salary with a share of profit which depends on their contractual responsibilities within the partnership.

The managing partner of APX is dissatisfied with the existing performance management system, as she is not convinced that it is helping to achieve the long-term goal of expanding and ultimately floating the business on the national stock exchange. Therefore, she has asked you to consider the impact of applying Fitzgerald and Moon’s building block approach to performance management in the practice.

Required:

(a) Briefly describe Fitzgerald and Moon’s building block model of performance management. (4 marks)

(b) Evaluate the existing performance management system at APX by applying the building block model. (8 marks)

(c) Explain the main improvements the introduction of a building block approach to performance management could provide, and suggest specific improvements to the existing system of performance measures at APX in light of the introduction of the building block model. (8 marks)

(c) Mr Cobar, the chief executive of SHC, has decided to draft two alternative statements to explain both possible

outcomes of the secrecy/licensing decision to shareholders. Once the board has decided which one to pursue,

the relevant draft will be included in a voluntary section of the next corporate annual report.

Required:

(i) Draft a statement in the event that the board chooses the secrecy option. It should make a convincing

business case and put forward ethical arguments for the secrecy option. The ethical arguments should

be made from the stockholder (or pristine capitalist) perspective. (8 marks)

(ii) Draft a statement in the event that the board chooses the licensing option. It should make a convincing

business case and put forward ethical arguments for the licensing option. The ethical arguments should

be made from the wider stakeholder perspective. (8 marks)

(iii) Professional marks for the persuasiveness and logical flow of arguments: two marks per statement.

(4 marks)

Server 4.0 computers to Windows 2000 Server. You want to accomplish the upgrades by using a distribution server. The Windows NT Server 4.0 computers support a tight production schedule that requires them to be online from 8:00 A.M. to midnight, seven days a week. You schedule the upgrade to run during non-business hours. Because of the limited amount of time the upgrades must be performed as quickly as possible.

You want to complete the upgrades before production begins in the morning.

What should you do？

A．Perform. an unattended installation by running the winnt32 command and the /cmdcons switch.

B．Perform. an unattended installation by running the winnt32 command and specify the use of a .txt file and a uniqueness database file.

C．Perform. an unattended installation by running the winnt command and specify the use of a .txt file and a uniqueness database file.

D．Perform. an unattended installation by using a Winnt.sif file with a commands section that initiates the Update.exe command in quiet mode.

York、New York is the largest city in the United States、That is, it has the largest population, （）about 8 million people、It is also one of the most important （）in the world.

New York is the business headquarters of the country as well as its leading industrial center、In the downtown section of the city is Wall Street - where you find the world （）New York Stock Exchange、It is said that over 90 percent of the stocks bought and sold in the United States are handled in the Wall Street area、Wall Street is not （） the financial center of the whole nation, but also the heart and nerve center of American politics.

1、

A.with

B.about

C.only

D.cities

E.famous

2、

A.with

B.about

C.only

D.cities

E.famous

3、

A.with

B.about

C.only

D.cities

E.famous

4、

A.with

B.about

C.only

D.cities

E.famous

5、

A.with

B.about

C.only

D.cities

E.famous