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Many people invest in the stock market hoping to find the next Microsoft and Dell. However, I know from personal experience how difficult this really is. For more than a year, I was 1 hundreds and sometimes thousands of dollars a day investing in the market. It seemed so easy, I dreamed of 2 my job at the end of the year, of buying a small apartment in Paris, of traveling around the world. But these dreams came to a sudden and dramatic end when a stock I 3 , Texas cellular pone wholesaler, fell by more than 75 percent 4 a one year period. On the worst day, it plunged by more than $15 a share. There was a rumor the company was exaggerating sales figures. That was when I learned how quickly Wall Street punishes companies that misrepresent the 5 In a panic, I sold all my stock in the company, paying off margin debt with cash advances from my credit card. Because I owned so many shares, I 6 a small fortune, half of it from money I borrowed from the brokerage company. One month, I am a winner, the next, a loser. This one big loss was my first lesson in the market. My father was a stockbroker, as was my grandfather 7 him.(In fact, he founded one of Chicago’s earliest brokerage firms.) But like so many things in life, we don’t learn anything until we experience it for ourselves. The only way to really understand the inner 8 of the stock market is to invest your own hard-earned money. When all your stocks are doing 9 and you feel like a winner, you learn very little. It’s when all your stocks are losing and everyone is questioning your stock-picking 10 that you find out if you have what it takes to invest in the market.

A. over
B. by
C. from
D. with

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Many people invest in the stock market hoping to find the next Microsoft and Dell. However, I know from personal experience how difficult this really is. For more than a year, I was 1 hundreds and sometimes thousands of dollars a day investing in the market. It seemed so easy, I dreamed of 2 my job at the end of the year, of buying a small apartment in Paris, of traveling around the world. But these dreams came to a sudden and dramatic end when a stock I 3 , Texas cellular pone wholesaler, fell by more than 75 percent 4 a one year period. On the worst day, it plunged by more than $15 a share. There was a rumor the company was exaggerating sales figures. That was when I learned how quickly Wall Street punishes companies that misrepresent the 5 In a panic, I sold all my stock in the company, paying off margin debt with cash advances from my credit card. Because I owned so many shares, I 6 a small fortune, half of it from money I borrowed from the brokerage company. One month, I am a winner, the next, a loser. This one big loss was my first lesson in the market. My father was a stockbroker, as was my grandfather 7 him.(In fact, he founded one of Chicago’s earliest brokerage firms.) But like so many things in life, we don’t learn anything until we experience it for ourselves. The only way to really understand the inner 8 of the stock market is to invest your own hard-earned money. When all your stocks are doing 9 and you feel like a winner, you learn very little. It’s when all your stocks are losing and everyone is questioning your stock-picking 10 that you find out if you have what it takes to invest in the market.

A. trade
B. truth
C. lie
D. lies

Passage One Did your mum and dad go to university, or did they leave school and go straight to the Job Centre The educational experience of parents is still important when it comes to how today’s students choose an area of study and what to do after graduation, according to The Future-track research in the UK. The research was done by the Higher Education Careers Service Unit. It plans to follow university applicants for six years from 2006 through their early careers. The first year’s findings come from a study of 130,000 university applicants. They show significant differences in prospective students’ approach to higher education, depending on whether their parents got degrees (second-generation applicants) or didn’t (first-generation applicants). First-generation applicants were more likely to say that their career and employment prospects were uppermost in their minds in deciding to go to university. About one-fifth of this group gave "to enable me to get a good job" as their main reason for choosing HE. And 37 percent said that a degree was "part of my career plan". A young person coming from a non-professional household where finances are stretched may find the idea of learning for its own sake to be a luxury. This explains the explosion in vocational courses. At Portsmouth University, first-year student Kim Burnett, 19, says that she specifically chose her degree in health research management and psychology to get a secure, well-paid job. Harriet Edge, 20, studying medicine at Manchester University, also wanted job security. Her parents lacked college degrees, though the fact that her uncle is a doctor appears to have influenced her choice. "Medicine is one of those fields where it’s pretty likely you’ll get a job at the end. That’s a big plus, as the debt levels after five years of study are going to be frightening," she says. Many experts believe that this situation affects those with no family tradition of higher education far more keenly. The fact that 26 percent of respondents said that they needed more advice implies that some students may end up feeling that their higher education investment was not worthwhile. For those with graduate parents, this lack of guidance may, the researchers suggest, be less of a problem. "But, for those without the advantages, lack of access to career guidance before applying for higher education leaves them exposed to making poorer choices," the survey concludes. Those with graduate parents may

A. make poorer choices when choosing their majors
B. make better choices when applying for higher education
C. not need career guidance before graduation
D. have no problems in applying for a college

Many people invest in the stock market hoping to find the next Microsoft and Dell. However, I know from personal experience how difficult this really is. For more than a year, I was 1 hundreds and sometimes thousands of dollars a day investing in the market. It seemed so easy, I dreamed of 2 my job at the end of the year, of buying a small apartment in Paris, of traveling around the world. But these dreams came to a sudden and dramatic end when a stock I 3 , Texas cellular pone wholesaler, fell by more than 75 percent 4 a one year period. On the worst day, it plunged by more than $15 a share. There was a rumor the company was exaggerating sales figures. That was when I learned how quickly Wall Street punishes companies that misrepresent the 5 In a panic, I sold all my stock in the company, paying off margin debt with cash advances from my credit card. Because I owned so many shares, I 6 a small fortune, half of it from money I borrowed from the brokerage company. One month, I am a winner, the next, a loser. This one big loss was my first lesson in the market. My father was a stockbroker, as was my grandfather 7 him.(In fact, he founded one of Chicago’s earliest brokerage firms.) But like so many things in life, we don’t learn anything until we experience it for ourselves. The only way to really understand the inner 8 of the stock market is to invest your own hard-earned money. When all your stocks are doing 9 and you feel like a winner, you learn very little. It’s when all your stocks are losing and everyone is questioning your stock-picking 10 that you find out if you have what it takes to invest in the market.

A. owned
B. owed
C. rented
D. sold

Many people invest in the stock market hoping to find the next Microsoft and Dell. However, I know from personal experience how difficult this really is. For more than a year, I was 1 hundreds and sometimes thousands of dollars a day investing in the market. It seemed so easy, I dreamed of 2 my job at the end of the year, of buying a small apartment in Paris, of traveling around the world. But these dreams came to a sudden and dramatic end when a stock I 3 , Texas cellular pone wholesaler, fell by more than 75 percent 4 a one year period. On the worst day, it plunged by more than $15 a share. There was a rumor the company was exaggerating sales figures. That was when I learned how quickly Wall Street punishes companies that misrepresent the 5 In a panic, I sold all my stock in the company, paying off margin debt with cash advances from my credit card. Because I owned so many shares, I 6 a small fortune, half of it from money I borrowed from the brokerage company. One month, I am a winner, the next, a loser. This one big loss was my first lesson in the market. My father was a stockbroker, as was my grandfather 7 him.(In fact, he founded one of Chicago’s earliest brokerage firms.) But like so many things in life, we don’t learn anything until we experience it for ourselves. The only way to really understand the inner 8 of the stock market is to invest your own hard-earned money. When all your stocks are doing 9 and you feel like a winner, you learn very little. It’s when all your stocks are losing and everyone is questioning your stock-picking 10 that you find out if you have what it takes to invest in the market.

A. facility
B. faculty
C. ability
D. power

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