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Ｐａrｔ I Writing ( 30ｍinuｔｅs)
Diｒections：
Ｆor this ｐaｒt, yｏu aｒe aｌloｗed 3０ miｎuteｓ to writｅ ａn essａｙ exｐｌaiｅt inｔｅｒest ratｅｓ. Ａs intｅrest rates gｏ up, bond pｒｉces fall， ａnｄ vice ｖersａ （反之亦然). Ｔhus， ｌｉke alｌ inｖestｍents， bｏnds haｖe a degrｅｅ of risk.
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Ｔｈe ｓeｃoｎd question is “ Ｈow can I＿_＿43__＿the invｅstmｅnt riｓk ｏf a ｐarticular ｂond ｉssue？”
Sｔandard & Poｏr'ｓ and Mｏody’ｓ Ｉｎveｓｔｏrｓ Ｓｅrvｉce rａte the ｌevｅl of ｒisｋ of many corporate aｎｄ goveｒｎment bｏnds. And_＿_4４＿＿_, ｔhe higher tｈｅ marｋｅt riｓｋ of ａ ｂoｎｄ, ｔhe ｈigｈer tｈｅ inｔeｒest ｒaｔe． Inveｓtｏrs wｉll inveｓt in a ｂoｎd cｏｎsｉｄered risky onｌy if the 4５ retuｒn is ｈiｇｈ ｅnough.
注意:此部分试题请在答题卡2作答。
A） ａdｖａnｔａｇｅｓ B) asseｓs C） ｂoｔhｅｒ D) coｎsｅｒved Ｅ) deｄuctｉon
F) ｄｉscount G） ｅmbarraｓs H) feａtｕrｅｓ I) fｌuctuatｅ J） ｉnｄeｆｉｎｉte
K) insuｒeｄ L) maｊor Ｍ) natｕｒally N) pｏteｎｔｉａｌ Ｏ） ｓimｕｌtaneousｌy
Tｈe Ｓtreeｔ－Leｖel Solutｉｏn
A) Ｗhｅn Ｉ wａs growｉng ｕp, ｏｎｅ ｏf my faｔhｅr’ｓ favｏriｔｅ ｓａyings (ｂoｒｒｏwｅd frｏｍ ｔhe hｕｍoｒｉｓｔ Ｗｉlｌ Roｇｅrs） wａs： “It isn't wｈaｔ we don't knoｗ that ｃaｕses the trｏuｂle： ｉｔ’s what wｅ tｈｉnｋ ｗｅ know that juｓｔ aiｎ’t sｏ.” Onｅ of tｈｅ ｍain ｉｎｓights to be takｅn fｒom ｔｈe 1０0 000 Hｏmes Camｐａｉgn ａnd ｉｔs sｔｒaｔegy to eｎd cｈｒoｎic hoｍｅlessness ｉｓ thaｔ, until rｅceｎtly， oｕr sｏcｉety tｈｏugｈｔ it uｎｄerｓｔood the ｎaｔure ｏf ｈomｅleｓｓｎeｓs, buｔ iｔ dｉdn’t.
Ｂ) Ｔhaｔ lｅd to ａ ｓeriｅs oｆ mistａken assumpｔｉonｓ ａbout wｈy people becｏmｅ homeless anｄ what tｈey neｅd. Mａny oｆ the eｒｒoｒs in ｏuｒ ｈｏmeｌｅssnｅｓｓ pｏｌicｉes hａve ｓｔemｍeｄ from ｔhe ｃｏnｃeｐｔiｏn thaｔ ｔhe homeｌeｓｓ ａre a hｏｍogenｅｏus grouｐ. It's onｌy iｎ the ｐast 15 yeａrｓ tｈat organｉｚaｔions liｋｅ Cｏｍｍon Ground, ａnｄ ｏtｈerｓ, ｈａｖｅ taｋｅｎ a ｓｔｒｅet-ｌｅｖel ｖiｅｗ of ｔｈe ｐｒoｂleｍ—diｓtinguishiｎｇ the “ epｉｓodicａlｌy hｏmｅlｅｓs” ｆｒｏｍ ｔｈe “chronicallｙ hoｍeleｓs” ｉn oｒdeｒ ｔｏ ｕｎｄerstａnd tｈeiｒ neｅds aｔ ａn ｉnｄiｖiｄual lｅvel． This ｉｓ ｗhy we ｃａn nｏｗ eｎviｓａge a ｄiｆfeｒent appｒoacｈ ａnd ｇet ｂｅtｔeｒ resｕltｓ.
C） Ｍost ｒeaｄｅｒs ｅｘprｅssed supｐoｒt fｏr the ｅｆｆoｒt, althouｇh a nuｍber wｅre sｋｅｐtｉcaｌ, and a ｆｅｗ uttｅrly dｉｓmiｓsive， abｏuｔ tｈe cha