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NATIONAL ECONOMICS UNIVERSITY School of Banking and Finance ENGLISH FOR BANKING AND FINANCE HANOI – 2017 CONTENTS PREFACE PART 1: FINANCIAL MARKET UNIT 1: FUNCTIONS OF FINANCIAL MARKET Reading 2 Exercises Translation Terminology References 10 UNIT 2: REGULATION OF FINANCIAL SYSTEM 11 Reading 11 Exercises 13 Translation 16 Terminology 17 References 18 PART 2: COMMERCIAL BANKING 19 UNIT 1: AN OVERVIEW OF COMMERCIAL BANKING 19 Reading 19 Exercises 21 Translation 23 Terminology 25 Reference 27 UNIT 2: INTERNET BANKING 28 Reading 28 Exercises 30 Translation 33 Terminology 34 Reference 36 PART CORPORATE FINANCE 37 UNIT FUNDAMENTALS OF CORPORATE FINANCE 37 Reading 37 Exercises 39 Translation 41 Terminology 43 References 44 UNIT SPECIAL TOPICS IN CORPORATE FINANCE 45 Reading 45 Exercises 47 Translation 49 Terminology 51 References 52 UNIT VALUATION 53 Reading 53 Exercises 55 Translation 57 Terminology 58 References 59 PART 4: INTERNATIONAL FINANCE 60 UNIT FOREIGN EXCHANGE 60 Reading 60 Exercises 62 Translation 65 Terminology 66 References 68 UNIT FOREIGN CURRENCY DERIVATIVES 69 Reading 69 Exercises 71 Translation 74 Terminology 75 References 76 PART PUBLIC FINANCE 77 UNIT INTRODUCTION TO PUBLIC FINANCE 77 Reading 77 Exercises 78 Translation 82 Terminology 83 Reference 85 UNIT TAXATION 86 Reading 86 Excercises 88 Translation 91 Terminology 92 Reference 93 PART SECURITIES 94 UNIT SECURITIES MARKET 94 Reading 94 Exercises 96 Translation 100 Terminology 101 References 102 UNIT PARTICIPANTS IN SECURITIES MARKET 103 Reading 103 Exercises 104 Translation 108 Terminology 110 References 110 PART INSURANCE 112 UNIT 1: INSURANCE BUSINESS 112 Reading 112 Exercises 114 Translation 117 Terminology 119 References 122 UNIT INSURANCE PRODUCTS 123 Reading 123 Exercises 125 Translation 128 Terminology 130 References 133 TERMINOLOGY 134 LIST OF REFERENCES 144 PREFACE Having graduated from universities, students will find themselves facing a fierce competition in the selection and interview process from many of banking and financial institutions And if they are successful in out-performing the competitors, their skills need to be adopted sharply in daily works to secure the dream job The course “English for Banking and Finance” aims to equip students with industrial experience in international banking, forex, capital markets, commercial banking, securities, public finance and insurance for them to have exceptional English skills in the fast-paced, money-making world of finance, as as English is the main communication tool in the industry The course is designed and delivered to train students to become a proficient communicator in English, by developing their proficiency in a number of areas, including specialist vocabulary and terminology for this sector, in addition to spoken and written communication skills The course contains also presentations prepared and carried out by students so that they will be able to mature their proficiency professionally Key topics covered during the course are: ▪ Financial System ▪ Commercial Banking ▪ Corporate Finance ▪ International Finance ▪ Public Finance ▪ Securities; and ▪ Insurance These topics correspond to seven parts with two units in each The units are structured to consist of a reading with comprehensive questions; exercises; texts for translation; and lastly terminology Participating in this 15-week course, students will have the opportunity to learn and develop their specialized terminology and professional English communication in a wide range of topics in Banking and Finance It lays out, by a series of well-structured units, a concrete block foundation for their future profession PART 1: FINANCIAL MARKET Unit 1: Functions of Financial Market Introduction: This lesson is focused on financial market’s functions Financial market creates essential channels to stimulate the fund flow between individuals, households, firms and governments that have surplus funds to those that have financial shortage Financial markets are not only beneficial for its participants but also increase the efficiency of the entire economy plus the welfare of everyone in the society The study on functions of financial market provide students with the first basic background on banking and finance issues In this lesson, students will be given reading passages, exercises and translations to improve their reading, pronunciation, translation and writing skills They are also introduced tonew terms and terminologies related to financial market and its functions READING The Financial Intermediary Function Financial market performs the essential economic function of channeling funds from households, firms, and governments that have saved surplus funds by spending less than their income to those that have a shortage of funds because they wish to spend more than their income This function is shown schematically in Figure Those who have saved and are lending funds, the lender-savers, are at the left, and those who must borrow funds to finance their spending, the borrower-spenders, are at the right The principal lender-savers are households, but business enterprises and the government (particularly state and local government), as well as foreigners and their governments, sometimes also find themselves with excess funds and so lend them out The most important borrower-spenders are businesses and the government (particularly the federal government), but households and foreigners also borrow to finance their purchases of cars, furniture, and houses The arrows show that funds flow from lender-savers to borrower-spenders via two routes In direct finance (the route at the bottom of Figure 1), borrowers borrow funds directly from lenders in financial markets by selling them securities (also called financial instruments), which are claims on the borrower’s future income or assets Securities are assets for the person who buys them but liabilities (IOUs or debts) for the individual or firm that sells (issues) them Why is this channeling of funds from savers to spenders so important to the economy? The answer is that the people who save are frequently not the same people who have profitable investment opportunities available to them, the entrepreneurs In the absence of financial markets, savers and spenders might never get together Without financial markets, it is hard to transfer funds from a person who has no investment opportunities to one who has them; they would both be stuck with the status quo, and both of them would be worse off Financial markets are thus essential to promoting economic efficiency The existence of financial markets is also beneficial even if someone borrows for a purpose other than increasing production in a business Say that you are recently married, have a good job, and want to buy a house You earn a good salary, but because you have just started to work, you have not yet saved much Over time, you would have no problem saving enough to buy the house of your dreams, but by then you would be too old to get full enjoyment from it If a financial market were set up so that people who had built up savings could lend you the funds to buy the house, you would be more than happy to pay them some interest in order to own a home while you are still young enough to enjoy it Then, over time, you would pay back your loan Now we can see why financial markets have such an important function in the economy They allow funds to move from people who lack productive investment opportunities to people who have such opportunities Thus financial markets are critical for producing an efficient allocation of capital, which contributes to higher production and efficiency for the overall economy Well-functioning financial markets also directly improve the well-being of consumers by allowing them to time their purchases better They provide funds to young people to buy what they need and can eventually afford without forcing them to wait until they have saved up the entire purchase price Financial markets that are operating efficiently improve the economic welfare of everyone in the society (Source: Federic S Mishkin (2006), The Economics of Money, Banking and Financial Markets, Seventh Edition Update, Addison-Wesley, Longman) QUESTIONS 1.1 What is the main function of financial market? 1.2 Who are the participants in financial markets? 1.3 In what ways funds flow in the economy? 1.4 How does direct finance work? 1.5 How can financial markets benefit individuals with consuming purposes? 1.6 Why is financial market so essential to the economy? EXERCISES 2.1 Read the paragraph below and find the right word or phrase from the box to fill each of the gaps shortage purchases efficiency excess improves indirect finance direct finance channel intermediary securities The basic function of financial markets is to (1) _ funds from savers who have an (2) of funds to spenders who have a (3) _of funds Financial markets can this either through (4) _, in which borrowers borrow funds directly from lenders by selling them (5) _, or through (6) _, which involves a financial (7) _ that stands between the lender-savers and the borrower-spenders and helps transfer funds from one to the other This channeling of funds (8) _ the economic welfare of everyone in the society, because it allows funds to move from people who have no productive investment opportunities to those who have such opportunities, thereby contributing to increased (9) _in the economy In addition, channeling of funds directly benefits consumers by allowing them to make (10) _ when they need them most 2.2 Put the words/phrases in order to make sentences If/ prices/ stay/ oil and gas/ impact/ food/ prices/ high/ there/ be/ on/ will ………………………………………………………………………………………… ………………………………………………………………………………………… The/ every/ information/ financial market/ money/ available/ any/ without/ makes/ type of/ spending ………………………………………………………………………………………… ………………………………………………………………………………………… The/ financial market/ traded/ is/ currencies/ forex market/ where/ are/ a ………………………………………………………………………………………… ………………………………………………………………………………………… Mutual fund/ ability/ give/ buy/ to/ once/ a lot of stocks/ at/ investors/ the ………………………………………………………………………………………… ………………………………………………………………………………………… The/ forces/ any/ the/ demand and supply/ of/ price/ goods or services/ is/ by/ determined/ of ………………………………………………………………………………………… ………………………………………………………………………………………… 2.3 Find the best answer 1) Financial markets have the basic function of a) getting people with funds to lend together with people who want to borrow funds b) assuring that the swings in the business cycle are less pronounced c) assuring that governments need never resort to printing money Commercial vehicle insurance – Bảo hiểm xe thương mại: a policy of physical damage and liability coverages for amounts, situations, and usage not covered by a personal auto policy Disability insurance – Bảo hiểm thương tật: Disability insurance offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period Endorsement – Chứng thực: refers to the signing of a document that allows for the legal transfer of a negotiable from one party to another; it can also refer to an attachment to a document that amends or adds to it Typically, an endorsement is an added provision to an insurance policy, referred to as a rider, though it can also include additional options such as various license endorsements Financial intermediary – Trung gian tài chính: an entity that acts as the middleman between two parties in a financial transaction, such as a commercial bank, investment banks, mutual funds and pension funds Financial intermediaries offer a number of benefits to the average consumer, including safety, liquidity, and economies of scale involved in commercial banking, investment banking and asset management Although in certain areas, such as investing, advances in technology threaten to eliminate the financial intermediary, disintermediation is much less of a threat in other areas of finance, including banking and insurance Insurance brokerage – Môi giới bảo hiểm: a specialist in insurance and risk management Brokers act on behalf of their clients and provide advice in the interests of their clients Sometimes an insurance broker will act as agent of an insurer A broker will help you identify your individual and/or business risks to help you decide what to insure, and how to manage those risks in other ways Liability Insurance – Bảo hiểm trách nhiệm: a insurance policy that protects an individual or business from the risk that they may be sued and held legally liable for something such as malpractice, injury or negligence Liability insurance policies cover both legal costs and any legal payouts for which the insured would be responsible if found legally liable Intentional damage and contractual liabilities are typically not covered in these types of policies Long-term care insurance – Bảo hiểm chăm sóc y tế dài hạn: Coverage that provides nursing-home care, home-health care, personal or adult day care for individuals above the age of 65 or with a chronic or disabling condition that needs constant supervision Long-term care insurance offers more flexibility and options than many public assistance programs Net premiums – Phí bảo hiểm (rịng): The expected present value of a policy’s benefits less the expected present value of future premiums The 131 net premium calculation does not take into account future expenses associated with maintaining the policy Non-life insurance – Bảo hiểm phi nhân thọ: any insurance that is not determined to be life insurance It is called property and casualty, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event Package policy – Bảo hiểm trọn gói: an insurance product that includes coverage for more than one type of insurance For example, liability and property insurance may both be included as a part of a package policy It is common for businesses that are looking to buy commercial insurance to buy commercial package policies Property insurance – Bảo hiểm tài sản: a policy that provides financial reimbursement to the owner or renter of a structure and its contents, in the event of damage or theft Property insurance can include homeowners insurance, renters insurance, flood insurance and earthquake insurance Personal property is generally covered by a homeowners or renters policy, unless it is of particularly high value, in which case it can usually be covered by purchasing an addition to the policy called a "rider" If a claim is filed, the property insurance policy will either reimburse the policyholder for the actual value of the damage, or the replacement cost to remedy the damage Proposal form – Giấy yêu cầu bảo hiểm: a standard printed document that is completed by a person who is requesting insurance coverage Proposal form is the most important and basic document required for life insurance contract between the insured and insurance company It includes the insured's fundamental information like address, age, name, education, occupation etc It also includes the person's medical history Reinsurance – Tái bảo hiểm: Reinsurance, also known as insurance for insurers or stop-loss insurance, is the practice of insurers transferring portions of risk portfolios to other parties by some form of agreement to reduce the likelihood of having to pay a large obligation resulting from an insurance claim The party that diversifies its insurance portfolio is known as the ceding party Retirement security – An sinh hưu trí: a pension given to a person who has retired from regular employment, either one paid by the state or one arising from the person's former employment Settlement agents – Đại lý toán: (1) The party involved in completing a transaction between a buyer and seller This is done through the transfer of securities to the buyer and the transfer of cash or other compensation to the seller (2) A real estate professional who functions chiefly for the buyer by 132 conveying the selling interest from the buyer to the seller and ensuring the orderly transfer of the legal title from the seller to the buyer through the closing process Workers compensation – Bảo hiểm lao động: Workers' compensation is a publicly-sponsored system that pays monetary benefits to workers who become injured or disabled in the course of their employment REFERENCES Cathy Pareto (2010), Introduction to Insurance, Retrieved at: http://elibrary.vssdcollege.ac.in/web/data/books-com-sc/bcom3/Introduction%20To%20insurance.pdf Financial Consumer Agency of Canada (2011), Understanding Insurance Basic, Retrieved at: http://publications.gc.ca/collections/collection_2011/acfc-fcac/FC5-24-2011eng.pdf Insurance information Institution (2010), Insurance Handbook – A guide to insurance: what it does and how it works, Retrieved at: http://adda.org/files/Insurance_Handbook_20103.pdf) Judy Feldman Anderson, Robert L Brown, Risk and Insurance, Society of Actuaries, Retrieved at: file:///C:/Users/Linh%20Do/Downloads/P-21-05.pdf Mayer Brown (2014), Vietnam’s Insurance Market: An Overview, retrieved at: https://www.mayerbrown.com/files/Publication/6d202e21-8507-4513- b40f-26ebfd22b5ab/Presentation/PublicationAttachment/0a09ff10-9ced4a52-88e8-2c6039a2b5f3/140129-VTN-Insurance.pdf) National Assembly (2000), Law on Insurance Business, No 24/2000/QH10 approved by the Vietnam National Assembly on December 9, 2000 133 TERMINOLOGY English Vietnamese Part/Unit Accident Insurance Bảo hiểm tai nạn Part 7, Unit Acquisition Thâu tóm Part 3, Unit Adverse selection Lựa chọn đối nghịch Part 1, Unit Annuity Niên kim Part 7, Unit Asymmetric information Thông tin không cân xứng Part 1, Unit ATM (Automatic Teller Machine) Máy giao dịch tự động Part 2, Unit At-the-money Trạng thái hòa vốn Part 4, Unit Authentication Xác thực Part 2, Unit Automobile Insurance Bảo hiểm ô tô Part 7, Unit Bank account Tài khoản ngân hàng Part 2, Unit Bear Nhà đầu tư bi quan Part 1, Unit Beneficiary Người thụ thưởng Part 7, Unit Biometric Sinh trắc học Part 2, Unit Bodily injury liability Trách nhiệm thương tích thể Part 7, Unit Bond covenant Hợp đồng trái phiếu Part 3, Unit Book value Giá trị sổ sách Part 3, Unit Breach of contract Vi phạm hợp đồng Part 3, Unit Bull Nhà đầu tư lạc quan Part 1, Unit Call options Quyền chọn mua Part 4, Unit Capital gains Lãi vốn Part 6, Unit Cash budget Ngân quỹ Part 3, Unit Cash deficit Thâm hụt tiền mặt Part 3, Unit 134 Cash flow Dòng tiền Part 3, Unit Cash surpluses Thặng dư tiền mặt Part 3, Unit CHAPS (Clearing House Automated Payments System) Hệ thống toán bù trừ tự động Part 2, Unit Checks (Cheque) Séc Part 2, Unit Clearing House Trung tâm toán bù trừ Part 4, Unit Collateral Tài sản đảm bảo Part 3, Unit Commercial vehicle insurance Bảo hiểm xe thương mại Part 7, Unit Common stock Cổ phiếu thường/cổ phiếu phổ thông Part 3, Unit Consolidation Hợp Part 3, Unit Conventional peg Neo cố định truyền thống Part 4, Unit Convertibles Chứng khoán chuyển đổi Part 6, Unit Corporate bond Trái phiếu doanh nghiệp Part 1, Unit Corporate income tax Thuế thu nhập doanh nghiệp Part 5, Unit Crawling peg Neo tỷ giá điều chỉnh dần Part 4, Unit Crawl-like arrangement Cơ chế tỷ giá tương tự điều chỉnh Part 4, Unit Credit score Điểm tín dụng Part 2, Unit Currency appreciation Đồng tiền tăng giá Part 4, Unit Currency board Neo cứng tỷ giá Part 4, Unit Currency depreciation Đồng tiền giảm giá Part 4, Unit Current account (Check account) Tài khoản vãng lai Part 2, Unit Custom duties Thuế hải quan Part 5, Unit Day trader Người giao dịch nội nhật Part 1, Unit 135 Debt market Thị trường nợ Part 1, Unit Deposit account Tài khoản tiền gửi Part 2, Unit Deposit Insurance Bảo hiểm tiền gửi Part 1, Unit Depository Institution Tổ chức nhận tiền gửi Part 2, Unit Derivatives Hợp đồng phái sinh Part 6, Unit Derivatives securities Chứng khoán phái sinh Part 6, Unit Digital Cash (E-Cash) Tiền điện tử Part 2, Unit Direct debit Ghi nợ trực tiếp Part 2, Unit Direct finance Tài trực tiếp Part 1, Unit Disability insurance Bảo hiểm thương tật Part 7, Unit Disclosure Công khai thông tin Part 1, Unit Dividend Cổ tức Part 1, Unit E-business Kinh doanh điện tử Part 2, Unit E-commerce Thương mại điện tử Part 2, Unit Economic downturns Suy thoái kinh tế Part 3, Unit Effective Date Ngày có hiệu lực Part 7, Unit Electronic Banking Ngân hàng điện tử Part 2, Unit Electronic Broking Services Dịch vụ môi giới ngoại hối điện tử Part 4, Unit Electronic Fund Trasfer Thanh toán điện tử Part 2, Unit Electronic Purse (same as digital wallet) Ví điện tử Part 2, Unit Endorsement Chứng thực Part 7, Unit EPS (earnings per share) Lợi nhuận cổ phiếu Part 6, Unit Equity market Thị trường vốn chủ sở hữu Part 1, Unit 136 Equity warrants Chứng quyền Part 6, Unit Euro debt securities Chứng khoán nợ Châu Âu Part 6, Unit Exchange Thị trường giao dịch tập trung Part 4, Unit Excise tax Thuế tiêu thụ đặc biệt Part 5, Unit Exercise price Giá thực Part 4, Unit Externality Ngoại ứng Part 5, Unit Finance Tài trợ Part 3, Unit Financial (capital) lease Thuê tài Part 3, Unit Financial intermediary Trung gian tài Part 7, Unit Financial market Thị trường tài Part 1, Unit Fire insurance Bảo hiểm cháy nổ Part 7, Unit Floating Cơ chế tỷ giá thả Part 4, Unit Forex market Thị trường ngoại hối Part 1, Unit Forward foreign exchange transactions Giao dịch kỳ hạn Part 4, Unit Fraud and Identity Theft Lừa đảo trộm danh tính Part 2, Unit Free floating Cơ chế thả hoàn toàn Part 4, Unit Futures market Thị trường tương lai Part 1, Unit GAAP - Generally Accepted Accounting Principles Các nguyên tắc kế toán chấp nhận chung Part 7, Unit Go public Chào bán cho công chúng đầu tư Part 3, Unit Government bonds Trái phiếu Chính phủ Part 6, Unit Government revenues Thu ngân sách nhà nước Part 5, Unit Holder policy Chủ hợp đồng bảo hiểm Part 7, Unit 137 IASB - International Accounting Standards Board Hội đồng chuẩn mực kế toán quốc tế Part 7, Unit ICAP Công ty môi giới ngoại hối ICAP Part 4, Unit IFRS - International Financial Reporting Standards Chuẩn mực báo cáo tài quốc tế Part 7, Unit Income tax Thuế thu nhập Part 5, Unit Indirect finance Tài gián tiếp Part 1, Unit Individual Retirement Accounts (IRA) Tài khoản hưu trí cá nhân Part 6, Unit Insolvency proceedings Phá sản Part 3, Unit Insurance brokerage Môi giới bảo hiểm Part 7, Unit Insurance company Công ty bảo hiểm Part 7, Unit Insurance Policy Chính sách bảo hiểm Part 7, Unit Insurance Premium Phí bảo hiểm Part 7, Unit Insured Người bảo hiểm Part 7, Unit Insurer Người cung cấp bảo hiểm Part 7, Unit Interest rate parity theorem Thuyết ngang giá lãi suất Part 4, Unit Interest-bearing demand deposit Tiền gửi giao dịch có trả lãi suất Part 2, Unit In-the-money Trạng thái lời Part 4, Unit Law of one price Quy luật giá Part 4, Unit Lease Thuê tài sản Part 3, Unit Lessee Người thuê Part 3, Unit Lessor Người cho thuê Part 3, Unit Leveraged buyouts Mua lại theo kiểu vay nợ Part 3, Unit 138 Liability Insurance Bảo hiểm trách nhiệm Part 7, Unit Life insurance Bảo hiểm nhân thọ Part 7, Unit Long-term care insurance Bảo hiểm chăm sóc y tế dài hạn Part 7, Unit Management buyouts Mua lại để giữ quyền quản lý Part 3, Unit Marine Insurance Bảo hiểm hàng hải Part 7, Unit Market value Giá trị thị trường Part 3, Unit Maturity Kỳ hạn Part 2, Unit Merger Sáp nhập Part 3, Unit Minority stockholder Cổ đông thiểu số Part 3, Unit Money judgment Phán phạt tiền Part 3, Unit Money Laundering Rửa tiền Part 2, Unit Money market instruments Công cụ thị trường tiền tệ Part 6, Unit Moral hazard Rủi ro đạo đức Part 1, Unit Mortgage Tài sản chấp Part 7, Unit Municipal bond Trái phiếu địa phương Part 1, Unit Mutual fund Quỹ tương hỗ Part 1, Unit National Association of Insurance Commissioners Hiệp hội quan quản lý bảo hiểm quốc gia Part 7, Unit Net exposure Trạng thái ngoại tệ ròng Part 4, Unit Net long (short) in a currency Trạng thái trường (đoản) ngoại tệ Part 4, Unit Net premiums Phí bảo hiểm (ròng) Part 7, Unit Net present value Giá trị ròng Part 3, Unit No separate legal tender Cơ chế “Không đồng tiền pháp định” Part 4, Unit 139 Noninterest - bearing demand deposit Tiền gửi giao dịch không trả lãi suất Part 2, Unit Non-life insurance Bảo hiểm phi nhân thọ Part 7, Unit Non-transaction deposit Tiền gửi phi giao dịch Part 2, Unit Operating lease Thuê hoạt động Part 3, Unit Option holder Người mua quyền Part 4, Unit Option writer Người bán quyền Part 4, Unit Options market Thị trường quyền chọn Part 1, Unit Other managed arrangement Cơ chế quản lý khác Part 4, Unit Out-of the-money Trạng thái khơng có lời Part 4, Unit Outstanding loan Dư nợ cho vay Part 2, Unit Overdraft Thấu chi Part 2, Unit Over-the-counter Thị trường giao dịch phi tập trung Part 4, Unit Package policy Bảo hiểm trọn gói Part 7, Unit Pay off Thanh toán hết Part 3, Unit Payout ratio Tỷ lệ trả cổ tức Part 3, Unit Pegged exchange rate within horizontal bands Neo với biên độ rộng Part 4, Unit Personal income tax Thuế thu nhập cá nhân Part 5, Unit Physical Hazard Rủi ro thân thể Part 7, Unit Preference shares Cổ phiếu ưu đãi Part 6, Unit Preferential loan Khoản vay ưu đãi Part 2, Unit Preferred stock Cổ phiếu ưu đãi Part 3, Unit Premium Phí quyền chọn Part 4, Unit Primary market Thị trường sơ cấp Part 1, Unit 140 Profit Lợi nhuận Part 3, Unit Progressive tax Thuế lũy tiến Part 5, Unit Property insurance Bảo hiểm tài sản Part 7, Unit Proportional tax Thuế tỷ lệ Part 5, Unit Proposal form Giấy yêu cầu bảo hiểm Part 7, Unit Public goods Hàng hóa công cộng Part 5, Unit Purchase of assets Mua tài sản Part 3, Unit Purchasing Power Parity Thuyết ngang giá sức mua Part 4, Unit Put options Quyền chọn bán Part 4, Unit Regressive tax Thuế lũy thoái Part 5, Unit Reinsurance Tái bảo hiểm Part 7, Unit Residual value Giá trị lại Part 3, Unit Retained earnings Lợi nhuận giữ lại/Lợi nhuận chưa phân phối/Lợi nhuận không chia Part 3, Unit Retirement security An sinh hưu trí Part 7, Unit Revenue out-turn Kết thu thực tế Part 5, Unit Sales tax Thuế doanh thu Part 5, Unit SAP - Statutory Accounting Các chuẩn mực kế toán theo luật Principles định Part 7, Unit Saving account Tài khoản tiết kiệm Part 2, Unit Saving deposit/Thrift deposit Tiền gửi tiết kiệm Part 2, Unit Secondary market Thị trường thứ cấp Part 1, Unit Securities broker Nhà mơi giới chứng khốn Part 1, Unit Securities dealer Nhà kinh doanh chứng khoán Part 1, Unit Security Token Thiết bị xác thực Part 2, Unit 141 Settlement agents Đại lý toán Part 7, Unit Share split Chia tách cổ phiếu Part 3, Unit Shareholder Cổ đông Part 3, Unit Shares outstanding Số lượng cổ phiếu lưu hành Part 6, Unit Smart Card Thẻ thông minh Part 2, Unit Social security An sinh xã hội Part 5, Unit Speculation Đầu Part 4, Unit Spillover effects Tác động lan toả Part 5, Unit Spot foreign exchange transactions Giao dịch giao Part 4, Unit Stabilized arrangement Cơ chế ổn định tỷ giá Part 4, Unit Standard accounting practices Thơng lệ kế tốn chuẩn Part 2, Unit Stockbroker Người mơi giới chứng khốn Part 3, Unit Store card Thẻ tín dụng cửa hàng hay Thẻ đồng thương hiệu Part 2, Unit Swaps Hợp đồng hoán đổi Part 6, Unit Tangible assets Tài sản hữu hình Part 3, Unit Tariff Thuế quan Part 5, Unit Tariffs (duties) Thuế quan Part 5, Unit Tax liability Nghĩa vụ thuế Part 5, Unit Tax resident Cá nhân cư trú phải chịu thuế Part 5, Unit Tax-deduction Khấu trừ thuế Part 3, Unit Taxes Thuế Part 5, Unit Taxpayer Người nộp thuế Part 5, Unit Tender offer Mời thầu Part 3, Unit 142 Trading pit Phiên giao dịch Part 4, Unit Transaction deposit Tiền gửi giao dịch Part 2, Unit Treasury bond Tín phiếu kho bạc Part 1, Unit Treasury stock Cổ phiếu quỹ Part 6, Unit Valuation Định giá Part 3, Unit Value Added Tax Thuế giá trị gia tăng Part 5, Unit Virtual bank Ngân hàng ảo Part 2, Unit Workers compensation Bảo hiểm lao động Part 7, Unit Yield curve Đường cong lãi suất Part 2, Unit 143 LIST OF REFERENCES Alen Schick (1999), A Contemporary Approach to Public Expenditure Management, Governance, Regulation, and Finance Division World Bank Institute; Barbara Casu, Chaudia Giradone, Philip Molyneux (2006), Introduction to Banking, Pearson Education Canada Publishing House; Capital one, Introduction to credit, retrieved at http://www.capitalone.co.uk/creditmadeclearer/credit-intro.jsf#what-iscredit; Cheol S Eun and Bruce G Resnick (2007), International Financial Management, McGraw-Hill/Irwin Publishing; Damodaran, A (2001), Corporate Finance: Theory and Practice, John Wiley & Sons, New Jersey; David K Eiteman, Arthur I.Stonehill, and Michael H.Moffett (2009), Multinational Business Finance, 12th edition, Pearson Publishing; Emmett J Vaughan, Therese M Vaughan (2007), Fundamentals of Risk and Insurance, Wiley Publishing House, 10th edition; Eugene F.Brgham (1992), Fundamentals of Financial Management, 6th edition, Dryden Press Federic S Mishkin (2006), The Economics of Money, Banking and Financial Markets, Seventh Edition Update, Addison-Wesley, Longman; 10 Financial Consumer Agency of Canada (2011), Understanding Insurance Basic, Retrieved at: http://publications.gc.ca/collections/collection_2011/acfc-fcac/FC5-242011-eng.pdf 11 Helfert, E A (2001), Financial Analysis Tools and Techniques, McGraw – Hill; 12 Ian MacKenzie (2008), English for the financial sector Student’s Book, Cambridge University Press, UK 13 Ioannis KOSKOSAS (2011), “The pros and cons of internet banking: A short review”, Business Excellence and Management; 144 14 Insurance information Institution (2010), Insurance Handbook – A guide to insurance: what it does and how it works, Retrieved at: http://adda.org/files/Insurance_Handbook_20103.pdf) 15 Jeff Madura (2008), International Financial Management, Ninth Edition, Thomson South – Western; 16 Jon Marks (2007), Check your English Vocabulary for Banking and Finance, A&C Black Publisher, UK 17 Justin Prichard (2014), What is credit and How is it used?, Retrieved at http://banking.about.com/od/creditscoresandreporting/a/whatiscredit.htm 18 Karen Furst, William W Lang, Daniel E Nolle (2000), “Internet Banking: Developments and Prospects”, Retrieved at: https://www.newyorkfed.org/medialibrary/media/newsevents/events/research/2 001/Furst.pdf; 19 Mohammad Ishfaq (2010), Grossary of Public Finance, Economic reseach and fiscal policy, UAE 20 Ross, S et al (2002), Fundamentals of corporate finance, McGraw – Hill, New York 21 Vernimmen, P et al (2005), Corporate Finance: Theory and Practice, John Wiley & Sons, West Sussex 145 ... assets increase (2) disclosure (4) soundness (3) intermediaries (6) (1) The government regulates financial markets and financial (1) _for two main reasons: to (2) _ the information available... Xác thực: (1) an action of checking that something is true, such as an instruction sent to a bank by email; (2) a method of proving the identity of a person or company Biometric - Sinh trắc học:... finance direct finance channel intermediary securities The basic function of financial markets is to (1) _ funds from savers who have an (2) of funds to spenders who have a (3) _of