Item #8
A. montaient
B. sont montés
Answer: B
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The many mispellings made me suspect that this was an ilegal transaction
Correct any spelling errors in the following sentences by crossing out the incorrectly spelled word and writing the correct spelling above it.
Fill in the letter of the word that best fits in each sentence. Use each letter only once
a. alter e. extravagant i. multiple m. stringent b. arrogant f. immense j. prediction n. thrifty c. calamity g. lenient k. redundanto. turmoil d. compel h. methodical l. spectacularp. versatile The _____ coach allowed his players to miss many practice sessions.
The author’s purpose in writing this selection is to
Brushing Up on Vocabulary liability insurance – Businesses or individuals cay buy this type of insurance to protect themselves against lawsuits related to negligence or problems with products sold. lawsuit – a court case involving a claim by one party against another GDP (Gross Domestic Product) – total value of goods and services produced in a country in a given year The Increasing Challenge of Risk Management 1) The management of risk is a major issue for businesses throughout the country. Almost every day you hear about a hurricane, earthquake, flood, fire, airplane crash, riot, or car accident that destroyed property or injured someone. An accident that involves a major personality may be front-page news for weeks. Such reports are so much a part of the news that we tend to accept these events as part of everyday life. But events involving loss mean a great deal to the business people involved. They must pay to restore the property and compensate those who are injured. In addition to the newsmaking stories, thousands of other incidents involve business people in lawsuits. Lawsuits in recent years have covered everything from job-related accidents to product liability. For example, you may have read about the incident at Wendy’s in which a woman fraudulently claimed to have found part of a person’s finger in her chili. Business at that facility went down to half until the company could prove the fraud. It is hard to anticipate such losses, but that is what risk management is all about—minimizing the losses from unexpected events. How Rapid Change Affects Risk Management 2) Changes are occurring so fast in the business world that it is difficult to keep up with the new risks involved. For example, who in the organization can evaluate the risks of buying or selling products over the Internet? As companies reach global markets over the Internet, who in the company watches for fluctuations in the world’s currencies and how they may affect profits? Will global warming affect weather conditions? How will climate change affect farms and cattle raising? What would happen to the economy if there were a series of terrorist attacks on the country? What would happen if a flu epidemic would occur? As you can see, risk management is getting more complex and more critical for all businesses. Those who do business in other countries face increasing risk from social unrest. Given such risk, let’s explore how companies go about managing risk. Managing Risk 3) The term risk refers to the chance of loss, the degree of probability of loss, and the amount of possible loss. There are two different kinds of risk. • 4) Speculative risk involves a chance of either profit or loss. It includes the chance a firm takes to make extra money by buying new machinery, acquiring more inventory, and making decisions in which the probability of loss may be relatively low and the amount of loss is known. An entrepreneur takes speculative risk on the chance of making a profit. In business, building a new plant is a speculative risk because it may result in a loss or a profit. • 5) Pure risk is the threat of loss with no chance for profit. Pure risk involves the threat of fire, accident, or loss. If such events occur, a company loses money; but if the events do not occur the company gains nothing. 6) The risk that is of most concern to businesspeople is pure risk. Pure risk threatens the very existence of some firms. Once such risks are identified, firms have several options: 1. Reduce the risk. 2. Avoid the risk. 3. Self-insure against the risk. 4. Buy insurance against the risk. Reducing Risk 7) A firm can reduce risk by establishing loss-prevention programs such as fire drills, health education, safety inspections, equipment maintenance, accident prevention programs, and so on. Many retail stores, for example, use mirrors, video cameras, and other devices to prevent shoplifting. Water sprinklers and smoke detectors are used to minimize fire loss. In industry, most machines have safety devices to protect workers’ fingers, eyes, and so on. 8) Product recalls can also reduce risk. A classic example is the highly publicized decision by Johnson & Johnson Company to pull its Tylenol pills off the shelves across the country when sabotaged capsules killed several people. More recently when an estimated 400 deaths in traffic accidents were blamed on faulty tires, Firestone and Ford recalled thousands of tires before more people were killed or hurt. 9) Employees, as well as managers, can reduce risk. For example, truck drivers can wear seat belts to minimize injuries from accidents, operators of loud machinery can wear earplugs to reduce the chance of hearing loss, and those who lift heavy objects can wear back braces. The beginning of an effective risk management strategy is a good loss-prevention program. However, high insurance rates have forced some people to go beyond merely preventing risks to the point of avoiding risks, and in extreme cases by going out of business. Avoiding Risk 10) Many risks cannot be avoided. There is always a chance of fire, theft, accident, or injury. But some companies are avoiding risk by not accepting hazardous jobs and by outsourcing shipping and other functions. The threat of lawsuits has driven away some drug companies from manufacturing vaccines, and some consulting engineers refuse to work on hazardous sites. Some companies are losing outside members of their boards of directors for lack of liability coverage protecting them from legal action against the firms they represent. Self-Insuring 11) Many companies and municipalities have turned to self-insurance because they either can’t find or can’t afford conventional property/casualty policies. Such firms set aside money to cover routine claims and buy only “catastrophe” policies to cover big losses. Self-insurance, then, lowers the cost of insurance by allowing companies to take out insurance only for larger losses. 12) Self-insurance is most appropriate when a firm has several widely distributed facilities. The risk from fire, theft, or other catastrophe is then more manageable. Firms with huge facilities, in which a major fire or earthquake could destroy the entire operation, usually turn to insurance companies to cover the risk. 13) One of the more risky strategies for self-insurance is for a company to “go bare,” paying claims straight out if its budget. The risk here is that the whole firm could go bankrupt over one claim, if the damages are high enough. A less risky alternative is to form risk retention group-insurance pools that share similar risks. It is estimated that about one-third of the insurance market is using such alternatives. Buying Insurance to Cover Cost 14) Although well-designed, consistently enforced risk-prevention programs reduce the probability of claims, accidents do happen. Insurance is the armor individuals, businesses, and nonprofit organizations use to protect themselves from various financial risks. For this protection, such organizations spend about 10 percent of gross domestic profit (GDP) on insurance premiums. Some insurance protection is provided by the federal government, but most risks must be covered by individuals and businesses on their own. a. inform b. entertain c. persuade
?El itinerario de viaje. Sara wrote an itinerary for her family trip to Mexico. Her dad, Don Julio, is asking questions about what they will do. Help Sara answer his questions, using the itinerary as a guide.
? ITINERARIO DE VIAJE DE LA FAMILIA SUÁREZ ¿A QUÉ HORA? ¿DÓNDE? ¿QUÉ VAMOS A HACER? DÍA 1 9:00 a.m. Chichén Itzá explorar las zonas arqueológicas 6:00 p.m. Plaza Grande tomar un café, visitar el museo, comprar recuerdos en el mercado DÍA 2 10:00 a.m. Chapultepec recorrer el parque zoológico 4:00 p.m. Plaza de la Constitución conocer la catedral DÍA 3 8:00 a.m. Ciudad de México visitar Xochimilco 20:00 p.m. Palacio de Bellas Artes ver un espectáculo Don Julio:Hija, ¿tienes el itinerario? Sara:Sí, papá. Don Julio:A ver, dime, ¿adónde vamos a ir el día 1? Sara: _____________________________________________________. Don Julio:¿Qué vamos a hacer primero? ¿A qué hora? Sara: _____________________________________________________. Don Julio:¡Qué bueno hija! ¿Y cuándo vamos a comprar recuerdos? ¿A qué hora y dónde? Sara: _____________________________________________________. Don Julio:¿Y qué actividades vamos a hacer en la Plaza Grande además de comprar recuerdos? Sara: ________________________________________________________. Don Julio:¡Me encanta! Y la visita a la catedral, ¿a qué hora es? Sara: _______________________________________________________. Don Julio: Perfecto hija. Te felicito, ¡excelente itinerario! What will be an ideal response?