TŁUMACZENIA EXAM

growth investment

looking for growth or capital accumulation: companies that will get bigger

value investment

investing in big, stable companies in conservative industries with earnings that might grow slowly but won't fall

large companies

are generally stable and more reliable than small ones

small companies

often grow more quickly than large ones, but are more difficult to get information about

active management

buy and sell quite frequently, adapting your portfolio to your objectives and changing market conditions

passive management

you don't buy and sell frequently; you buy and hold, until bonds mature or the financial situation fundamentally changes

index-linked portfolio

try to follow or copy the movements of stock or bond market indices or indexes

mug

a person who doesn't know very much and is easy to take advantage of

come into their own

be successful

futile

unsuccessful, a waste of time

handsomely rewarded

well paid

trigger

cause, provoke

upfront

paid in advance

better off

richer, or in a better situation

slim

small

futures

are forward contracts for the purchase and sale of securities, precious metals, etc., at a fixed price

commodities

raw materials such as agricultural products and metals that are traded on special exchanges

hedge risks

make transaction that are designed to reduce risk regarding a particular price interest rate or exchange rate

call option

is a contract giving the buyer the right, but not the obligation, to buy an asset in the future

put option

is a contract giving the possibility to sell a specified quantity of securities, foreign exchange or commodities in the future, if it is advantageous to do so.

exercise an option

use or implement the option, taking up the possibility to buy or sell something

interest rate swap

is an exchange of future payments on borrowed money according to specified terms

speculator

someone who anticipates future changes in a market and makes risky transactions, hoping to make a gain

premium

is the money the writer of an option receives

compromise

an agreement that settles an argument when people reduce their demands in order to agree

concession

something which is accepted or given up by one side in order to end a disagreement

counter-proposal

an offer responding to somebody else's offer

deal point

an individual item or element in negotiation

to leave something hanging

to delay making (or forget to make) a decision about something

parameters

fixed limits within which something can or must happen or done

scenario

a description of a possible event in the future

to set something aside

to temporarily ignore or not think about a particular fact

tip

a useful piece of information or advice

trade-off

an exchange involving giving up one thing to get something else

raider

people or companies that try to buy and sell other companies to make a profit

market share

a company's sales expressed as a percentage of the total sales in a market

economies of scale

reductions in costs resulting from increased production

diversifying, diversification

adding new and different products or services

customer base

all the individuals or organizations that regularly or occasionally purchase goods or services from a company

optimum

best, perfect or ideal

conglomerate

large corporations or groups of companies offering a number of different products or services

synergy

combined production or productivity that is greater than the sum of the separate parts

fees

money paid to investment banks for work done

asset-stripping

buying a company in order to sell its most valuable assets at a profit

buying spree

buying a lot in a short time

boom

a period when an economy is doing very well

cyclical

goig round and round or repeating

slump

a period when an economy is doing badly

to drum up business

to try to get new customers

bulls

a name for investors who buy shares because they expect their price to rise

bears

a name of shareholders who sell because they expect the price to fall

bubble

a period of rapidly rising share prices, followed by a quick collapse

collateral

assets a borrower uses to secure or guarantee a loan

shares

certificates representing part-ownership of a company

institutional investors

financial organizations that own a lot of shares

day traders

people who buy and re-sell shares in a very short time, often just a few hours

raise capital

to get money from investors with which to run a business

issue

to offer securities for sale, to financial institutions and the public

bankruptcy

when you have no money to pay your debts, so you have to sell your assets

I don't like milk either.

też nie - na końcu zdania

simultaneous

Foreign market is the simultaneous buying of one currency and selling of another.

domestic currency

currency belonging to one's own country

speculator

people who buy and sell things in the hope of making profit

currency fluctuations

currency price changes

turnover

the total amount of money spent in a market

liquid

easy to sell (to convert into cash)

grow

upward movement is positive

improve

upward movement is positive

get better

upward movement is positive

deteriorate

upward movement is negative

get worse

upward movement is negative

issuing bank

buyer's bank

amendment

If necessary, he or she contacts the buyer and asks for amendments to be made

bank draft

It's issued by the bank, which receives the money (before paying it to exporter).

trade draft

It's issued by the exporting company, which receives the money directly.

beneficiary

the seller

policy

an agreed plan of what to do

threats

potential sources of danger

target

a level or situation which you intend to achieve

core

basic and most important

inflation

a general, continuous increase in price

base rate

the rate at which the central bank lends money to commercial banks

consume

to spend money on goods and services

incentive

encouragement or reason to do something

plant

factories, and the machines and equipment in them

capital

money invested in companies, to buy buildings, machinery, etc.

demand

what people consume and how much they invest

labour

work done by people employed by business

supply

the quantity of goods and services offered for sale by companies

I find financial planning really interesting

Planowanie finansowe wydaje mi się naprawdę interesujące

to strip out

American lawmakers had striped investment banking out from commercial banking.

will definitely

Our profits will definitely increase this year.

be bound to do something

Small regional banks are bound to join together.

expect

We expect all banks to invest substantially in their branch networks.

may well

I may well decide to change banks.

will probably

They'll probably move their call centre to India.

be likely to

Universal banks are likely to spread.

perhaps

Perhaps we need to hire more financial advisors.

might

We might increase our commission charges.

be unlikely to

E-banking is unlikely to decrease over the next 10 years.

improbable

There could be a takeover, but I think it’s improbable.

can’t possibly

Interest rates can’t possibly stay so low.

certainly won't

We certainly won't reduce the size of our counselling area.

in order to do something

They had done this in order to get investment banking business from these companies.

statutory

according to a law or regulation

mandate

authorization given to an organization to carry out specific responsibilities

compliance

following rules and regulations

wholesale

working with companies and institutions and not personal or retail customers

counterparties

other institutions in an agreement, contract or transaction

supervision

watching over people or an organization to makesure they are behaving correctly

mortgage

is a loan to buy property.

Money you put in the bank is called a

deposit

Money paid to a retired person is called a

pension

Securities representing part-ownership of a company are called

shares or stocks

The money invested in a business is its

capital

Bonds

are interest-paying securities issued by companies that need to borrow money

Takeover

is when a company gains control of another one by buying its stocks.

Merger

is when two formerly separate companies join together.

conglomerates

groups of companies that havejoined together

depositors

people who place money in bank accounts

deregulated

abolished or ended rules and restrictions

fines

sums of money paid as penalties for breaking the law

prohibited

made it illegal to do something

regulation

control of something by rules or laws

repealed

cancelled or ended (a law)

underwriting

guaranteeing to buy a company’s newly issued stocks if no one else does

to strip out

to seperate

generally considered to be

reputed to be

didn’t want to cause trouble for other people

meant no harm

abig hierarchy of directors and managers

an endless chain of command

special; different from other people

a breed apart

extremely big

vast

trend

a general development or changeina situation or in people’s behaviour

income

all the money received by a person during a particular period

assets

anything of value owned by a business; for a bank, the loans it has made

liabilities

money that a company will have to pay to someone else one day; fora bank, its deposits

lucrative

profitable (describes an activity that makes a profit]

national income

the money earned by a country’s people in a particular period

currency

the money used ina particular country

direct debit

iS an instruction to a bank to pay varying sums of money to another account on particular dates.

savings account

pays interest but usually has limits as to how much money can be withdrawn during a certain period of time.

statement

lists the recent debits and credits in a bank account.

overdraft

is an arrangement allowing someone to borrow money by withdrawing more than they have deposited in their account, up to a certain limit.

current account

pays no or little interest, but usually allows the holder to withdraw cash or pay cheques without any restrictions.

loan

is an amount of money borrowed from a bank for a fixed period.

balance

is the amount of maney in a bank account at a particular time.

standing order

is an instruction to a bank to pay regular, fixed sums of money to another account.

staffing

decisions on types and numbers of employees

ahead of the game

in advance of competitors

drive future growth

make business increase in the years to come

reshaping

redesigning

invest substantially

spend a lot of money on

a decade of under-investment

ten years of insufficient spending

affluent

wealthy

ask

enquire

begin

commence

buy

purchase

get

obtain

give

provide

tell

inform

EBIT

the abbreviation for a company’s earnings before interest and taxes

portfolio

allthe securities and financial assets held by a financial institution or an individual

credit rating

anevaluation of a borrower’s ability to pay interest and pay back a loan in the future

collateral

something of value that secures a loan or other credit; if the borrower cannot repay, the lender can sell it to pay off the loan

maturity

the date on which a loan must be repaid, or the length of time until this date

margin

the difference between the interest rate a lender pays and the rate it charges its borrowers

overhead costs

the expenses of operating a business that are not directly related to individual products or services (e.g. electricity, telephones, administrative costs]

credit limit

the maximum amount that a bank will lend to a customer

operating cash flow

the money generated from a business’s normal activities

cost of funds

the price (interest rate) that a financial institution must pay for the use of money

assets

anything owned by a company — cash, buildings, machines, etc.

tax accounting

calculating how much tax an individual or a company should pay — or trying to reduce this figure

auditing

checking and evaluating financial records

cost accounting

determining the unit cost of a manufactured product, including indirect costs

financial accounting

keeping financial records and preparing financial statements

liabilities

money that a company will have to pay to someone else — bills, debts, interest, taxes, etc.

bookkeeping

recording transactions (purchases and sales] in ledgers

income

the money that a company receives fram supplying goods or services

expediture

the money that a company spends

management accounting

the use of a company’s accounting data by its managers for planning and control

commission

A charge for arranging a transaction (e.g. buying or selling securities)

fee

A charge for a service performed by a bank

premiums

Payments for an insurance policy

amortization

Areduction in the value of an asset, charged againstprofits

net

Adjective meaning after all deductions have been made

consolidated

Adjective meaning for a whole group of companies

short-term

Adjective meaning one year or less in financial statements

minority interests

Part-ownership {less than 50%) of other companies

intangible assets

Thingsof value that cannot be physically touched, such as reputation (goodwill), brand names and trademarks

shareholders equity

The net worth of a company — the amount by which assets exceed liabilities

oversight

supervision

sound

in good condition

sterling

the name of the British currency

remunerated

paid

Letter of credit

A method of payment for goods in which the buyer’s bank guarantees to pay a specified amount of money to the seller on presentation of specific documents, before a certain date and according to the International Chamber of Commerce rules.

Bill of exchange

An order written by an exporter instructing an importer to pay a specified amount of money at a specified time

to digress

to move off the subject and start talking about something else

minutes

a written report distributed to participants after a meeting

any other business (AOB)

often the last item in a meeting, when participants discuss issues not on the agenda

compromise

a way of reaching agreement in which each side concedes or gives up something it wants

consensus

the situation in which most or all of the people at a meeting agree about something

apologies for absence

often the first item in a meeting, concerning people who cannot be present

turnover

the total amount of money spent in a market

equity

another word for stocks and shares

domestic

belonging to one’s own country

speculators

people who buy and sell things in the hope of making a profit

liquid

easy to sell (to convert into cash)

fluctuations

price changes