Text 1 Ruth Simmons joined Goldman Sachs's board as an outside director in January 2000;a year later she became president of Brown University.For the rest of the decade she apparently managed both roles without attracting much criticism.But by the end of

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Text 1 Ruth Simmons joined Goldman Sachs's board as an outside director in January 2000;a year later she became president of Brown University.For the rest of the decade she apparently managed both roles without attracting much criticism.But by the end of 2009 Ms.Simmons was under fire for having sat on Goldman's compensation committee;how could she have let those enormous bonus payouts pass unremarked?By February the next year Ms.Simmons had left the board.The position was just taking up too much time,she said.Outside directors are supposed to serve as helpful,yet less biased,advisers on a firm's board.Having made their wealth and their reputations elsewhere,they presumably have enough independence to disagree with the chief executive's proposals.If the sky,and the share price,is falling,outside directors should be able to give advice based on having weathered their own crises.The researchers from Ohio University used a database that covered more than 10，000 firms and more than 64，000 different directors between 1989 and 2004.Then they simply checked which directors stayed from one proxy statement to the next.The most likely reason for departing a board was age,so the researchers concentrated on those“surprise”disappearances by directors under the age of 70.They found that after a surprise departure,the probability that the company will subsequently have to restate earnings increases by nearly 20%.The likelihood of being named in a federal classaction lawsuit also increases,and the stock is likely to perform worse.The effect tended to be larger for larger firms.Although a correlation between them leaving and subsequent bad performance at the firm is suggestive,it does not mean that such directors are always jumping off a sinking ship.Often they“trade up，”leaving riskier,smaller firms for larger and more stable firms.But the researchers believe that outside directors have an easier time of avoiding a blow to their reputations if they leave a firm before bad news break,even if a review of history shows they were on the board at the time any wrongdoing occurred.Firms who want to keep their outside directors through tough times may have to create incentives.Otherwise outside directors will follow the example of Ms.Simmons,once again very popular on campus.
According to the researchers from Ohio University,after an outside director's surprise departure,the firm is likely to_____

A.become more stable
B.report increased earnings
C.do less well in the stock market
D.perform worse in lawsuits

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第1题：

The Winner of a Teaching Award We are pleased to announce that the winner of this year's Teaching Award goes to Dr. Marie Dagenais. Dr. Dagenai graduated from Universite de Montreal in 1983. She beca

The Winner of a Teaching Award

We are pleased to announce that the winner of this year's Teaching Award goes to Dr. Marie Dagenais. Dr. Dagenai graduated from Universite de Montreal in 1983. She became an Assistant Professor in the Faculty in 1988. In 2000 she was appointed as Associate Dean, a very important role in the Faculty. In 2001 she was appointed to Associate Professor and was Professor five years later. For many years she has held important roles in the Association of Teaching and Learning, including being President of this Association in 2005一06. Similarly she has been heavily involved with the American Association of Distance Education and was that Association's President during. 2008- 11. She has also held a number of leadership roles in the Commission on Lifelong Education of America, one of the most important organizations in adult education.

This is an incomplete list of some of the countless important roles Dagenai has had

both within the University and beyond in the field of distance education in America. She is a very worthy winner of the year's Teaching Award.

( )26. Marie is the winner of this year's Teaching Award.

( )27. Marie graduated from Yale University in 1983.

( )28. Marie was appointed to Professor in 2006.

( )29. Marie was the president of American Association of Distance Education during 2009-11.

( )30. Marie has done a great contribution to American distance education.

参考答案：26-30：T F T F T

第2题：

Which of the following sentences from the text BEST indicates that the teacher is very considerate?

A. In her calm，motherly voice she said，“By the end of winter，…”（Paragraph 2）

B. With the grace that only experience can bring，she struggled to…（Paragraph 4）

C. …. she still managed to look both helpful and interested. （Paragraph 4）

D. …，she managed to act as though I wasn’t an annoying little girl.（Paragraph 4）

正确答案：D

第3题：

3 Mary Hobbes joined the board of Rosh and Company, a large retailer, as finance director earlier this year. Whilst she

was glad to have finally been given the chance to become finance director after several years as a financial

accountant, she also quickly realised that the new appointment would offer her a lot of challenges. In the first board

meeting, she realised that not only was she the only woman but she was also the youngest by many years.

Rosh was established almost 100 years ago. Members of the Rosh family have occupied senior board positions since

the outset and even after the company’s flotation 20 years ago a member of the Rosh family has either been executive

chairman or chief executive. The current longstanding chairman, Timothy Rosh, has already prepared his slightly

younger brother, Geoffrey (also a longstanding member of the board) to succeed him in two years’ time when he plans

to retire. The Rosh family, who still own 40% of the shares, consider it their right to occupy the most senior positions

in the company so have never been very active in external recruitment. They only appointed Mary because they felt

they needed a qualified accountant on the board to deal with changes in international financial reporting standards.

Several former executive members have been recruited as non-executives immediately after they retired from full-time

service. A recent death, however, has reduced the number of non-executive directors to two. These sit alongside an

executive board of seven that, apart from Mary, have all been in post for over ten years.

Mary noted that board meetings very rarely contain any significant discussion of strategy and never involve any debate

or disagreement. When she asked why this was, she was told that the directors had all known each other for so long

that they knew how each other thought. All of the other directors came from similar backgrounds, she was told, and

had worked for the company for so long that they all knew what was ‘best’ for the company in any given situation.

Mary observed that notes on strategy were not presented at board meetings and she asked Timothy Rosh whether the

existing board was fully equipped to formulate strategy in the changing world of retailing. She did not receive a reply.

Required:

(a) Explain ‘agency’ in the context of corporate governance and criticise the governance arrangements of Rosh

and Company. (12 marks)

正确答案：
(a) Defining and explaining agency
Agency is defined in relation to a principal. A principal appoints an agent to act on his or her behalf. In the case of corporate
governance, the principal is a shareholder in a joint stock company and the agents (that have an agency relationship with
principals) are the directors. The directors remain accountable to the principals for the stewardship of their investment in the
company. In the case of Rosh, 60% of the shares are owned by shareholders external to the Rosh family and the board has
agency responsibility to those shareholders.
Criticisms of Rosh’s CG arrangements
The corporate governance arrangements at Rosh and Company are far from ideal. Five points can be made based on the
evidence in the case.
There are several issues associated with the non-executive directors (NEDs) at Rosh. It is doubtful whether two NEDs are
enough to bring sufficient scrutiny to the executive board. Some corporate governance codes require half of the board of larger
companies to be non-executive and Rosh would clearly be in breach of such a requirement. Perhaps of equal concern, there
is significant doubt over the independence of the current NEDs as they were recruited from retired executive members of the
board and presumably have relationships with existing executives going back many years. Some corporate governance codes
(such as the UK Combined Code) specify that NEDs should not have worked for the company within the last five years. Again,
Rosh would be in breach of this provision.
Succession planning for senior positions in the company seems to be based on Rosh family membership rather than any
meritocratic approach to appointments (there doesn’t appear to be a nominations committee). Whilst this may have been
acceptable before the flotation when the Rosh family owned all of the shares, the flotation introduced an important need for
external scrutiny of this arrangement. The lack of NED independence makes this difficult.
There is a poor (very narrow) diversity of backgrounds among board members. Whilst diversity can bring increased conflict,
it is generally assumed that it can also stimulate discussion and debate that is often helpful.
There is a somewhat entrenched executive board and Mary is the first new appointment to the board in many years (and is
the first woman). Whilst experience is very important on a board, the appointment of new members, in addition to seeding
the board with talent for the future, can also bring fresh ideas and helpful scrutiny of existing policies.
There is no discussion of strategy and there is evidence of a lack of preparation of strategic notes to the board. The assumption
seems to be that the ‘best’ option is obvious and so there is no need for discussion and debate. Procedures for preparing
briefing notes on strategy for board meetings appear to be absent. Most corporate governance codes place the discussion and
setting of strategy as a high priority for boards and Rosh would be in breach of such a provision.
There is no evidence of training for Mary to facilitate her introduction into the organisation and its systems. Thorough training
of new members and ongoing professional development of existing members is an important component of good governance.

第4题：

Everybody sleeps,but what people stay up late to catch—or wake up early in order not to miss—varies by culture.From
data collected,it seems the things that cause us to lose the most sleep,on average,are sporting events,time changes,and
holidays.Around the world,people changed sleep patterns thanks to the start or end of daylight savings time.Russians,for
example,began to wake up about a half hour later each day after President Vladimir Putin shifted the country permanently to“winter time”starting on October 26.
Russia’s other late nights and early mornings generally correspond to public holidays.On New Year’s Eve,Russians have the world’s latest bedtime,hitting the hay at around 3:30 am.Russians also get up an hour later on International Women’s
Day,the day for treating and celebrating female relatives.
Similarly,Americans’late nights late mornings,and longest sleeps fall on three-day weekends.Canada got the least sleep of the year the night it beat Sweden in the Olympic hockey final.
The World Cup is also chiefly responsible for sleep deprivation,the worst night for sleep in the U.K.was the night of the
England-Italy match on June 14.Brits stayed up a half-hour later to watch it,and then they woke up earlier than usual the next morning thanks to summer nights,the phenomenon in which the sun barely sets in northern countries in the summertime.That was nothing,though,compared to Germans,Italians,and the French,who stayed up around an hour and a half later on
various days throughout the summer to watch the Cup.
It should be made clear that not everyone has a device to record their sleep patterns,in some of these nations,it’s likely
that only the richest people do.And people who elect to track their sleep may try to get more sleep than the average person.
Even if that’s the case,though,the above findings are still striking,if the most health-conscious among us have such deep
swings in our shut-eye levels throughout the year,how much sleep are the rest of us losing

How does Alan Blinder portray Yellen 《》（）

A.She possesses strong persuasive power.
B.She has confidence in what she is doing.
C.She is one of the world’s greatest economists.
D.She is the most powerful Fed chief in history.

答案：A

解析：

本题考查推理判断。

由题干中的Alan Blinder定位到最后一段。定位段指出，艾伦·布朗德认为耶伦十分聪明，很有逻辑，乐于争辩也善于倾听，同时还能够在不让对方产生敌意的情况下劝服别人，可见她有很强的说服力，综上，A选项正确。

第5题：

30． Ruth has no friends． She is a housewife．

正确答案：
30．F【解析】由文中She then dresses and goes to exerase with her friends.可知，Ruth有许多朋友，所以该题错误。

第6题：

____________, Miss Brown decided to take a taxi.

A、She thought she must be late

B、Being thought she must be late

C、When thought she must be late

D、Thinking she must be late

参考答案：D

第7题：

Rachel’s mother，Ruth， has a busy and interesting life． Ruth usually wakes up at 6:30 am． Then she likes to lie in bed for a while and drink coffee． After about half an hour， she gets up and goes outside to work on the trees and flowers around the apart-ment． At about 8:00 she comes back inside and takes a shower． She then dresses and goes to exercise with her friends． When she finishes her exercise， She goes shopping．

She comes home at around 10: 30，cleans the house and cooks lunch． From 12:00 to 12:30，she eats lunch with her husband， Shuka． She then teaches the piano， the organ （风琴），and the accordion(手风琴)lessons to her students， until 7:30 in the evening．when she finishes， she eats dinner with her husband． In the evening， she likes to play cards or go dancing． At about 11:30 pm， she and her husband usually go to bed．

根据短文内容判断正(T)误(F)。

( )26． After she wakes up， Ruth gets up at once．

正确答案：
26．F

第8题：

Andrea Jung, the chairman and CEO of Avon, is sitting in her office on the 27th floor of Avon’s New York headquarters considering an obvious question: What does it mean to be the first woman to lead the beauty products company in its 115-year history?

"I guess it helps,' she says wryly(表情冷漠地)."You know, you go home and you try on a new mascara, and I guess a male CEO can't do that." She's joking, of course, but there's some truth to what she says.

Glamorous, poised and always impeccably (无瑕疵的) dressed, Jung knows what women want and how to sell it to them.That’s what has made her one of the most successful CEOs----male or female----in recent years.And that’s what placed her at number four in the ranking of the 50 Most Powerful Women in Business, an annual survey by “Fortune.” The top on the list is Carly Fiorina, chairman and CEO of Hewlett-Pachard Company, a US computer hardware company.The oldest child of Chinese immigrants, Junggrew up speaking both English and Mandarin Chinese.She received a BA in English literature from Princeton University in 1979.After graduation, Jung joined themanagement trainee program at Bloomingdale’s (a world-renowned department store).She later joined I.Magnin (the premiere retail (零售) house in the US), in San Francisco, becoming senior vice president and general merchandise manager.In 1993 Jung became a consultant (顾问) for Avon, famous for selling beauty products door to door through sales representatives known as “Avon Ladies”.When Jung, now 43, took over Avon in November 1999, the company was in deep trouble.During the greatest economic boom in history, its stock was crumbling (崩溃).As fewer women wanted to go out onto the streets selling Avon products, its sales decreased.But Jung surprised a lot of people.Over the past 20 months she has overhauled (检查) nearly everything about the way Avon does business: How it advertises, manufactures, packages, and even how it sells its products.Most surprising, she has done it not by abandoning the seemingly outdated Avon Lady, but by reviving (使再流行) her.Under Jung, more Avon Ladies are signing up than ever before.6 Since Jung joined Avon, sales have risen by 30 per cent, profits by 40 per cent and the stock price has dramatically improved.And now, Avon is the second largest firm in the US headed by a woman, after Hewlett-Packard.

1.What is the truth to what Andrea Jung said?

A.A male CEO has not the ability to try on a new mascara.

B.A female CEO has to be more careful about her appearance.

C.A female CEO has to try on a new mascara each day.

D.When at home, a female CEO always tries on a new mascara

2.Which one is not true, according to the context?

A.The chairman and CEO of Hewlett-Pachard Company is a woman.

B.It seems that "Fortune" is the name of a magazine.

C.Andrea Jung is the chairman and CEO of a IB computer hardware company.

D.Avon is a beauty products company

3.What did Jung do after she graduated from Princeton University?

A.She became a trainer at Bloomingdale's.

B.She became a member of an American retail house.

C.She became president of an American retail house.

D.She became general manager of Bloomingdale's

4.What happened to Avon before Jung became CEO?

A.The stock price of Avon was Killing.

B.The sales volume increased dramatically.

C.Avon hired more women to sell its beauty products.

D.The stock price of Avon was rising

5.What measure did Jung take to make Avon a profit-making company?

A.She gave up Avon Lady that is no longer popular.

B.She did much research and obtained much information.

C.She employed more women as Avon Ladies

D.Both B) and C)

参考答案：BCBAD

第9题：

Passage Five

Helen Keller was born a healthy normal child in Alabama in 1880. However, an illness with a high fever struck her when she was still a child. She became deaf, blind, and unable to speak. For little Helen, the world was suddenly a dark and frightening place. She was wild and stubborn. everal years later a miracle came into Helen's life when Anne Sullivan, a strong and loving person, became Helen's teacher. Miss Sullivan's teaching changed the child into a responsible human being. Through her help Helen Keller learned to communicate with those around her, and as she grew older, others benefited from her unique insights and courage. Miss Keller died in 1968, but her spirit lives on. It lives on in her articles and books and in the stories of people who were fortunate enough to meet her during her lifetime.

51. Why was Helen Keller blind, deaf and unable to speak?

A. Because she'd been born that way.

B. Because a horse had kicked her.

C. Because she'd had a very high fever.

D. Because she'd had a bad fall.

正确答案：C

答案为 C。根据题干找到第二句，However，an illness with a high fever struck her 作出该项选择。

第10题：

Why did she go for long walks along the country roads? __________

A.Because she enjoyed the country’s fresh air
B.Because she was afraid to disturbed the rest of the family
C.Because she lived in a small house far away
D.Because she was afraid to practice the tones

答案：B

解析：

根据第一段“As she lived in a small house，where she could not practice．without disturbingthe rest of the family”可推知她是怕打扰其他人。故答案为B。

Text 1 Ruth Simmons joined Goldman Sachs's board as an outside director in January 2000;a year later she became president of Brown University.For the rest of the decade she apparently managed both ro

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