English Task : Chapter Five

Vocabulary Practice
Select the answer that correctly completes each sentence.
Questions :

1. we’re paying for the furniture we bought in monthly installments

2. The bank uses a credit bureau to find out how prospective borrowers repaid their past debts.

3. Mr. Harris’s application for a loan was approved because he is creditworthy

4. Because the borrower defaulted on his repayment of the loan, the bank will hold the co-signer responsible

5. Lisa and Frank Edwards developed a profile of monthly expenses to see how much money they would have left over to make loan payments on a refrigerator.


Comprehension Check
A. State whether each statement is true or false, based on the information in the dialogue.

1. Lisa Edward has a checking account at the Bay Federal Bank Akita.( F )
2. It is easier to get a passbook loan. ( T )
3. The credit bureau provides the bank with data about prospective borrowers.( T )
4. The bank investigates the loan applicant’s capacity to repay the loan. ( T )
5. Lisa Edward has charge accounts only in her husband’s name.( F )
6. Mr. and Mrs. Edwards have bought merchandise on the installment plan. ( F )
7. Charles Ferguson requires thet Mr. Edwards co-sign his wife’s loan.( F )
8. Although Lisa Edwards has no cash flow problems, she has to apply for a loan.( T )
9. Mr. Ferguson is pleased that Lisa Edwards has developed a profile of monthly expenses.( T )
10. The bank will probably extend credit to Lisa Edwards because she seems creditworthy.( F )

B. Answer each of the following questions orally.
Questions:

1. How would it help Lisa Edwards to have a savings account at the Bay Federal Bank?
2. How will the bank find out about Ms. Edward’s repayment of debts in the past?
3. Why does the head of the credit department of the bank say that Lisa Edward’s husband will not have to co-sign the loan?
4. What are some of the things that Ms.Edwards must know about the loan if the bank decides to extend her credit?
5. Why does Charles Ferguson advise potential borrowers to develop a profile of their monthly expenses?

Answers:

1. she must open the account first for have savings account
2. the bank will find out the repayment of debt by credit bureau
3.
4. high inflation and some problems with cash flow
5.


C. Combine each group of words into a sentence that expresses information contained in the dialogue. You may add whatever words are necessary to make a grammatically correct sentence.
Questions:

1. bank/data/reporting agency
2. Mr. and Mrs. Edwards/merchandise/on time
3. Lisa Edwards/salary/public relations person
4. high inflation/problem/cash flow
5. estimated monthly budget/repayment capacity/loan

Answers :

1. The bank uses a reporting agency to get the data
2.
3. Lisa Edwards have a good salary as a public relations person
4. In this time of high inflation we have some problems with cash flow
5. She already prepared an estimated monthly budget that way she be able to see what she’s repayment capacity for the loan



Building Your Vocabulary
A. Matching. Find the words in the right-hand column that match the words closest in meaning in the left-hand column.
Questions :

1. budget a. reporting agency
2. loan agreement b. ability
3. in installments c. information
4. credit bureau d. profile
5. co-signer e. on time
6. data f. contract
7. capacity g. co-maker

Answers :

1. d
2. f
3. e
4. a
5. g
6. c
7. b

B. Rewriting sentences.Rewrite each of the following sentences replacing the underlined word or words with the correct from of one of the new words of this lesson.
Questions :

1. The bank decided to grant credit to Ms. Edwards.
2. The credit department is investigating the applicant’s moral qualities
3. My father was the other person who signed the loan agreement.
4. You can’t ask for a new loan until you repay the unpaid part of the old loan.
5. This is the first partial payment of my loan.
6. The banks are not giving loans these days.
7. Banks grant loans using the borrower’s saving accounts as collateral more easily than other types of loans.

Answers :

1. extend
2. character
3. co-signer
4. balance
5. installment
6. Lend
7. Passbook loan



Structure Practice
A. Restate each of the following sentences changing the word order as in the model.
Questions :

1. The credit bureau sends them data
2. The Bay Federal Bank offered its customers passbook loans.
3. Ms. Carson will bring us a profile of expenses.
4. I owe the bank the next installment.
5. The credit department wrote her a letter.
6. They’re going to pay him the balance.
7. John’s co-signer had to pay me the money.
8. We’ve offered Lisa and Frank Edwards credit.
9. Did you give them the information?
10. I’ll lend you the outstanding amount.

Answers :

1. The credit bureau sends data to them
2. The Bay Federal Bank offered its passbook loans to customers
3. Ms. Carson will bring a profile of expenses to us
4. I owe the next installment to bank
5. The credit department write a letter to her
6. They’re paying the balance to him.
7. John’s co-signer paid the money to me
8. We’ve offered credit to Lisa and Frank Edward.
9. Did you give the information to them?
10. I’ll lend the outstanding amount to you.




B. Organize the following strings of elements into sentences including direct object and indirect object pronouns.
Questions :

1. a loan/give/the borrower/the lender
2. us/send/data/they
3. that bank/them/credit/extend
4. write/the credit manager/me/a contract
5. you/him/furniture/buy
6. she/the balance/the bank/pay
7. you/the down payment/lend/he
8. show/the budget/Charles/me



Answers :

1. The lender give the borrower a loan
2. they send us data
3. that bank extend them credit
4. The credit manager write me a contract
5. you buy him furniture
6. she pay the bank the balance
7. he lend you the down payment
8. Charles show me the budget


C. Organize the following strings of elements into sentences as in the model. Use the past tense. Note : the verbs of sentences 2, 3, 5, and 7 require the preposition to before the indirect object.
Questions :

1. we/write/the/we/paying on time
2. I/explain/him/they/investigating/his character
3. she/mention/you/she/co-signing/a loan
4. Mr. Ferguson/tell/us/he/not extending/more credit
5. the bank/say/it/calculating/annual percentage rate
6. you/inform/the secretary/you/applying/for consumer credit
7. they/admit/you/they/defaulting/on the loan
8. he/show/me/he/receiving/a lot of data

Answers :

1. we wrote the we will paying on time
2.
3.
4. Mr. Ferguson told us he not extended more credit
5. the bank said calculating annual percentage
6. I informed the secretary I applied for consumer credit
7. they admitted you they default on the loan
8. he showed me he received a lot of data


D. Add an appropriate indirect object to each of the following sentences.
Questions :

1. I lent $3,000.00
2. You still owe money
3. The store will give credit
4. The credit bureau sent the data
5. Did she show the estimated budget?
6. I taught how to calculate the annual percentage rate.
7. That company is selling expensive furniture.
8. Lisa said she offered a large down payment.
9. We’ve going to bring the contarcts he requested.
10. She is going to pay in monthly installments.

Answers :

1. I lent them $3,000.00
2. You still owe money to them
3. the store give credit to them
4. the data will be send by credit bureau
5. did she give the estimated budget
6. I think how to calculate the annual percentage rate
7. the company sell the expensive furniture
8. she offered a large down payment to Lisa
9. they bring me my request contract
10. she pay monthly installments

Building Sentences
A. Select elements from columns A, B and C to make at least ten sentences. Be sure that the sentences you form make sense.

A B C Lisa Edwards extends a monthly budget
The Bank Made Consumer credit
A borrower fills out a loan application
Mr. Ferguson prepared the reporting agency
The credit department approves a passbook loan
called data
gives the balance
paid a loan agreement


B. Complete each of the following sentences by selecting a or b for each of the blank spaces.
Questions :

1. He offered me a passbook loan.
2. The necessary information?The credit bureau sent it to us
3. Her cash flow is good; I checked it for you
4. Should you write her a contract?
5. You have to show us the profile ?


Reading Plus
Questions

1. How much people can apply for membership with this application?
2. Which well-known credit cards can you apply for?
3. What is the yearly cost of membership?
4. what is some of the personal data the applicant is asked to provide?
5. why do they ask the applicant how many years he has been at his present address and how many years he was living at his previous address?
6. Why do they ask the applicant how many years he has been working at his present position and how many years he was with his previous employer?
7. Why do they ask the applicant his gross monthly salary?
8. What is some of the personal information the co-applicant must provide?
9. Why do you think they ask the applicant to name his nearest relative not living with him.
10. What other sources of income, in addition to the gross monthly salary, can the applicant or co-applicant list?
11. What information do they ask for regarding the applicant’s or co-applicant’s debts?
12. If the applicant or co-applicant fails to disclose all debts, what happens to his application?
13. In signing the credit card application, what do the applicant and co-applicant agree to?

Answers:

1. just only one people can apply with this application
2. visa or master card card apply with it
3. the yearly cost of membership is $18
4. the personal data the applicant is asked to provide is previous address
5. because they want to know how longer you stay in your new or previous address
6. because they want to know do you have a job
7. they ask a gross monthly salary for how to repay the loan
8. the co-applicant personal information must provide is gross salary
9. they ask the applicant the name of his nearest relative not living together for data base
10.
11.
12. If the applicant or co-applicant fails to disclose all debts they will rejected the application
13.