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3 aprilie 2007

Reading comprehension (42 points)

Questions 1 – 6
Read the following extract from share subscription regulations.
Choose the best word to fill each gap from A, B, C or D below.
For each question 1 – 6, write one letter (A, B, C or D) on your answer sheet.
(3 points per item 6x3=18 points)

Insider Regulations for Primary Insiders Opera Software ASA

As Opera Software ASA (the "Company") is …(1) on the Oslo Stock Exchange, the …(2) of the
Norwegian Securities Trading Act relating to insider …(3) apply to trading in the company's
shares etc. In addition to the general prohibition ….(4) insider trading - which ….(5) to
everybody - the act lays down certain other rules which apply specifically to primary insiders.
These insider regulations have been prepared to ensure that the Company's primary insiders….(6)
with the statutory regulations.

Gap no. A B C D

1. provided given listed exposed

2. listings marks provisions tables

3. trading shopping negotiating discussion

4. from onto out of of

5. works applies comes objects

6. comply obey stay rest


Questions 7 – 14
Read the questions below and the extract on the next page from an article about a supervisory
Which section (A, B, C or D) does each question 7 – 14 refer to?
For each question 7 – 14, mark one letter (A, B, C or D) on your answer sheet.
You will need to use some of these letters more than once. (3 points per item 8x3=24 points)

Supervisory board has failed ABN Amro shareholders
By Onesimo Alvarez-Moro

A. The management of this bank is hiring four investment banks to advise it on how to
manage dealings with some of its shareholders who have complained about the
performance of management. Management is looking at strategic options as it builds up
defences against those shareholders who have expressed dissatisfaction.
B. The supervisory board of this bank, which in theory is there to represent shareholder
interests, has apparently accepted these actions (I have not heard anyone speak out against
what is going on). Perhaps it is the case that these supervisory board members do not have
enough time to do their jobs, as all of them have too many other commitments (a couple
have as many as 17 and 18 board representations). It is impossible to provide adequate
oversight with so many roles, and clearly this results in absurd governance!
C. How can it be justifiable that management should spend its time devising ways to defend
itself against its shareholders? Managers are spending shareholders' money to help them
come up with ways of neutralising potential troublemakers, in the shape of some of their
D. I am not taking a view of whether or not the vocal shareholders are right. But they have
the right to make their views known, and all shareholders have the right to a free and open
debate. It is clear that the supervisory board members have failed in their responsibilities
by allowing this absurd state of affairs. There should be wholesale changes of the
supervisory board of ABN Amro.

Copyright The Financial Times Limited 2007

7. The supervisory board members should be replaced.

8. The governance of the bank is affected by the superficial activity of the supervisory
9. Some shareholders have expressed dissatisfaction at the way the bank is run.
10. It is unacceptable for the management to be acting to defend themselves instead of
managing the bank.
11. It is not relevant at this point that the complaints are justified or not.
12. The bank directors have commissioned a number of investment banks to help them deal
with protesting shareholders.
13. It is the supervisory board’s fault that it all came to a conflicting situation.
14. Efforts should be made to make sure the shareholders’ rights are respected.

Language in use (28 points)


Look at each line of the following news report. Some lines are correct, but some have a word which
should not be there. Tick each correct line. If a line has a word which should not be there, write the
word in the space. (1 point per item 15x1=15 points)

0 Residents in the Blackwood area complained last

00 night that they should have had been warned about
1. the escape of a dangerous snake. The snake, a python,
2. is three meters long, and can to kill pets. ‘I heard
3. about it on the radio,’ said Mrs. Agnes Bird. ‘I had gone
4. to lock my dog in the kitchen this morning, because
5. I thought the snake could easily have attack it. Now
6. I am not sure what I ought to be do.’ The snake, called
7. Lulu, disappeared from Blackwood Zoo. ‘It must be
8. have found a hole in the wall, or it might have been
9. slipped out while the door was open,’ said zoo director
10. Basil Hart. Mr. Hart said that people didn’t needn’t have
11. been alarmed. ‘A local radio station must have had
12. mixed up its reports,’ he went on. ‘We found Lulu a
13. few minutes after we missed her. We have had to climb
14. a tree and bring her down. So you see, you should have
15. never believe silly stories you hear on the radio!


This is a detective’s preliminary report concerning a robbery at the museum. Read it and
complete the following press-release using no more than two words for each blank. The words
you need do not occur in the detective’s report. The first one has been done for you. (1 point per
item 13x1=13 points)

Police report

I arrived at the museum at 10 p.m. I’m sure the robbery had happened twenty minutes earlier.
There were no fingerprints or anything, but I found some evidence: two bullets on the floor. Two
of the most valuable paintings were missing –whoever took them knew something before the
time of the robbery. At first I suspected James Smith, but he’s in jail. It is important that any
witnesses come forward, the sooner the better. Callers’ identities will be kept confidential.

Press release

The museum robbery (0) must have taken place at 9.40 p.m. The robbers wore gloves as no
fingerprints (1) ……. on anything left at the (2) …….of the crime. Evidence (3) …… that the
robbers (4) ……….. a gun. The robbers (5) …………………. knowledgeable about art, because
the paintings which (6) …………………….taken are of very high (7) ………….. James Smith,
who was an immediate (8) ……………., (9)…………… been involved as he was in police
(10)………………….at the time of the robbery. One of the customers from a nearby pub
(11)……………………….. witnessed the crime. Any witnesses (12)……………….in touch with
Westford Police station as soon as possible. All calls will be treated in the strictest

Writing assignment
Score: 20 points

Describe on one page in what way the stage you are competing for relates to your Romanian
identity. What is it that you hope to obtain? How will your stay abroad change you? What mark
will you leave behind? How will you be repaying for the grant you hope to receive?


10 puncte din oficiu

Reading (42 p)
Part 1
As Opera Software ASA (the "Company") is listed on the Oslo Stock Exchange, the provisions of
the Norwegian Securities Trading Act relating to insider trading apply to trading in the company's
shares etc. In addition to the general prohibition against insider trading - which applies to
everybody - the act lays down certain other rules which apply specifically to primary insiders.
These insider regulations have been prepared to ensure that the Company's primary insiders
comply with the statutory regulations.

1. 2. 3. 4. 5. 6.

Part 2
7. 8. 9. 10. 11. 12. 13. 14.

Language in use (28 p)

Part 1
0 √
00 had
1. √ 10. didn’t
2. to 11. had
3. gone 12. √
4. √ 13. have
5. have 14. have
6. be 15. √
7. be
8. been
9. √

Part 2
1. were found 4. had/ used 8. suspect 12. should get
2. scene/ place 5. must be/ were/are 9. cannot have/ couldn’t 13. confidence
3. indicates/proves/ 6. were/ have been have
shows 7. value 10. custody
11. may have/ might have

Writing (20 p)
The essays will be assessed according to the following criteria, each of them carrying up to 4
- completion of task
- appropriacy
- range of vocabulary and structures
- organization, cohesion and coherence
- accuracy (spelling, punctuation, grammar and words)