A popular band decided to release their new album online, allowing listeners to download it for free. After listening, the band asked their audience to evaluate how much they thought the album was worth. Some said it was worthless, while others felt it was comparable to albums sold in regular music stores. When the album was officially released, it generated more revenue than any of the band's previous albums. Which of the following, if true, best explains the higher revenue generated by this album?
(A) The free online release allowed a much larger audience to access and appreciate the band's music, resulting in increased album sales.
(B) By eliminating intermediaries such as record companies and retailers, the band was able to retain a larger share of the album's profits.
(C) The band's decision to let listeners determine the album's value created a sense of engagement and loyalty among their fan base.
(D) The controversial strategy of releasing the album for free generated significant media attention, providing free publicity for the band.
(E) The band had already established a strong reputation and following, ensuring that their new album would be well-received by their fans.
Tanning, the process of darkening the skin color, can be achieved through exposure to ultraviolet (UV) radiation either from the sun or artificial tanning devices. Tanning beds primarily emit UV-A rays and a small amount of UV-B rays. In contrast, sunlight contains a significant amount of UV-B rays and harmful UV-C rays. However, some argue that natural sunlight is safer for tanning compared to artificial tanning beds.
Which of the following, if true, would best support the argument that natural sunlight is safer for tanning?
(A) The atmosphere effectively absorbs most of the sun's UV-B and UV-C rays, reducing the harmful radiation that reaches the Earth's surface.
(B) Tanning beds used in indoor tanning salons emit a higher concentration of UV-A rays compared to natural sunlight.
(C) Prolonged exposure to UV radiation, whether from the sun or tanning beds, can lead to premature skin aging and increase the risk of skin cancer.
(D) The controlled environment of tanning beds allows individuals to limit their exposure time and monitor the intensity of UV radiation.
(E) Some tanning beds are designed to mimic the natural spectrum of sunlight by emitting a balanced ratio of UV-A and UV-B rays.
答案:
2.RC
Wall Street brokerage firms have been enjoying a robust business climate in recent years. Braced by a seemingly inexhaustible bull market and heavy trading volumes, full-service firms -- the traditional Wall Street powerhouses -- are, by and large, consistently reporting increased profits. Assets in mutual funds have soared as well, as more baby boomers have become concerned about the financial needs of retirement.
But these heady market conditions, while seemingly a recipe for continued success, mask looming problems for the full-service firms. That is because they are losing a significant portion of their business to discount brokers, mutual fund companies and other specialized providers, a group that has already captured 25 percent of the retail market with its generally lower prices and more enterprising use of technology. In particular, new entrants have been quick to capitalize on the growth of direct channels, e.g., discounters now moving to the Internet.
All of which has left the full-service firms with a bottom line that is bigger but is also under siege. To fight back, the firms need to play to their strengths and shore up their weaknesses. On the strength side, they need to aggressively market their product breadth, personalized service and "one-stop shopping" convenience. As for their weaknesses, they need to focus on costs and operating efficiency, and pass on as much of the savings as possible to their customers. And they need to proactively manage their key client relationships through superior service and attractive customer loyalty programs.
These firms unbundled the offerings of the full-service providers and concentrated on specific sources of value to investors. (See Exhibit I.) They also developed direct channels to circumvent the physical footprint advantage of the established players at a time when consumer adoption of electronic and other forms of direct access was increasingly replacing the need for face-to-face dealings. Paced by technological advances that made "self-service" a reality, as well as by a rising level of investor sophistication, the trend toward specialization gained momentum.
At the same time, the ranks of individual investors swelled, sparking tremendous growth in mutual funds and employer-sponsored 401(k) plans. Recognizing that growth, the specialized firms focused more and more on specific sources of value to address targeted customer needs, fostering the perception that their services are "cheaper" (although, given fair comparison, that is not always the case).
These specialized providers have enjoyed significant growth at the expense of the full-service firms. In the 10 years since 1985, the discounters' share of retail equity trading commissions nearly tripled. Clearly, investors perceive significant value from the discounters' price and convenience advantages.
The competitive environment has changed dramatically for full-service brokerage firms. Until the mid-1980's, these firms dominated the landscape. Their product offerings were primarily stocks and bonds, and their customers were usually affluent. Securities regulations mandated a level playing field that gave firms little beyond their image and reputation to differentiate themselves. As a result, customer turnover was typically low.
But price deregulation and technological advances dramatically changed that paradigm. A new breed of specialized firms and discount brokers appeared on the scene, offering services at vastly lower costs.
1. The passage suggests which of the following about the factors contributing to the success of specialized firms?
I. The unbundling of offerings by full-service firms created opportunities for specialized firms to target specific market segments.
II. The adoption of self-service platforms reduced the importance of personalized advice in investment decision-making.
III. The increasing sophistication of investors led to a greater appreciation for the targeted expertise offered by specialized firms.
(A) I only
(B) II only
(C) I and II only
(D) I and III only
(E) I, II, and III
2. Which of the following can be inferred about the full-service brokerage firms' response to the emergence of discount brokers and specialized firms?
(A) They have been proactive in adapting their strategies to mitigate the impact of new competitors on their market share.
(B) They have leveraged their scale advantages to match the prices offered by discount brokers across all products and services.
(C) They have invested heavily in technology to close the gap with the more efficient platforms used by new entrants.
(D) They have shifted their focus to serving institutional clients rather than competing for retail investors.
(E) They have been slow to recognize the magnitude of the threat posed by the new competitive landscape.
3. The passage is most likely to be followed by a discussion of which of the following?
(A) The consolidation trends among full-service brokerage firms seeking to achieve greater economies of scale
(B) The regulatory barriers that have prevented specialized firms from capturing an even larger share of the retail market
(C) The new product offerings and pricing strategies that full-service firms have introduced to regain market share
(D) The international expansion plans of discount brokers seeking growth opportunities beyond the domestic market
(E) The technological innovations on the horizon that are expected to further disrupt the brokerage industry
4. The author mentions the "seemingly inexhaustible bull market" (line 2) primarily to:
(A) highlight the favorable conditions that have supported the profitability of full-service firms in recent years.
(B) suggest that the strong performance of financial markets has masked the underlying challenges facing the industry.
(C) argue that the current market environment is unsustainable and that a correction is likely in the near future.
(D) emphasize the importance of asset gathering for brokerage firms during periods of rising stock prices.
(E) explain why investors have been more willing to pay higher fees for professional advice and portfolio management.
5. According to the passage, the growth of mutual funds and retirement plans has:
(A) created new opportunities for full-service firms to differentiate themselves based on their investment expertise.
(B) reduced the overall profitability of the brokerage industry by driving down trading commissions.
(C) made it more difficult for discount brokers to attract and retain clients over the long term.
(D) contributed to the perception that specialized firms offer a better value proposition for certain investment needs.
(E) had little impact on the competitive dynamics between full-service and specialized firms.
6. Which of the following best describes the author's view on the future prospects of full-service brokerage firms?
(A) They are well-positioned to regain lost market share due to their scale advantages and brand reputation.
(B) They will need to fundamentally rethink their business models to remain relevant in the face of technological disruption.
(C) They are likely to experience a period of consolidation as firms seek to build the scale needed to compete effectively.
(D) They will continue to dominate the high-net-worth segment but lose further ground in the mass-affluent market.
(E) They will need to make significant investments in technology and talent to close the gap with specialized competitors.
7. The primary purpose of the third paragraph (lines 25-34) is to:
(A) introduce the key factors that have enabled specialized firms to capture market share from full-service firms.
(B) provide a counterargument to the prevailing view that full-service firms are better positioned for long-term success.
(C) offer a historical perspective on the evolution of the brokerage industry since the deregulation of commissions.
(D) highlight the importance of technology in shaping the competitive landscape of the brokerage sector.
(E) explain why the market share gains of specialized firms may be overstated due to differences in how market share is calculated.
8. Based on the passage, which of the following can be inferred about the pricing strategies of discount brokers?
(A) They have been able to consistently undercut the prices of full-service firms across all products and services.
(B) They have focused on offering low prices for a narrow range of services while charging higher fees for others.
(C) They have used their cost advantages to offer lower prices while reinvesting excess profits in technology and marketing.
(D) They have engaged in aggressive price competition with each other, driving down industry-wide profit margins.
(E) They have been able to maintain price parity with full-service firms for most offerings while providing greater value through enhanced technology and service.
3.DI
mail 1
From: Maximilian Schröder, Global Sales Director at BrickMaster International GmbH
To: Sophia Nakamura, Chief Procurement Officer at Worldwide Theme Parks & Resorts
Date: June 15, 9:00 a.m. CET
Subject: Your extensive order of LEGO Technic and LEGO Architecture sets
Dear Ms. Nakamura,
I have meticulously reviewed your substantial order consisting of 12,500 units of the LEGO Technic Rough Terrain Crane set (item #42082), 9,750 units of the LEGO Technic Bugatti Chiron set (item #42083), 14,000 units of the LEGO Architecture Statue of Liberty set (item #21042), and 11,500 units of the LEGO Architecture London Skyline set (item #21034) with our production and logistics departments. We currently have the LEGO Technic Rough Terrain Crane and LEGO Architecture Statue of Liberty sets in stock, but we are experiencing a temporary shortage of 3,500 units of the LEGO Technic Bugatti Chiron set and 2,750 units of the LEGO Architecture London Skyline set. However, we do have 5,000 units of the LEGO Technic Porsche 911 GT3 RS set (item #42056) and 4,500 units of the LEGO Architecture San Francisco Skyline set (item #21043) readily available in our inventory. Would you be amenable to modifying your order to include 6,250 units of item #42083, 5,000 units of item #42056, 8,750 units of item #21034, and 4,500 units of item #21043?
Our product development team has also apprised me of the impending release of an updated version of the LEGO Technic Rough Terrain Crane set (item #42100). This new set incorporates cutting-edge design enhancements and expanded functionality. You have the option to pre-order this innovative set, but please be advised that there will be a 5-week lead time for delivery. Would you like me to allocate 6,250 units of your LEGO Technic Rough Terrain Crane set order (item #42082) to 6,250 units of the new set (item #42100)?
For your reference, the current prices per unit are as follows:
- LEGO Technic Rough Terrain Crane set (item #42082): $299.99
- LEGO Technic Bugatti Chiron set (item #42083): $349.99
- LEGO Technic Porsche 911 GT3 RS set (item #42056): $299.99
- LEGO Technic Rough Terrain Crane set (item #42100): $329.99
- LEGO Architecture Statue of Liberty set (item #21042): $119.99
- LEGO Architecture London Skyline set (item #21034): $39.99
- LEGO Architecture San Francisco Skyline set (item #21043): $49.99
Email 2
From: Sophia Nakamura, Chief Procurement Officer at Worldwide Theme Parks & Resorts
To: Maximilian Schröder, Global Sales Director at BrickMaster International GmbH
Date: June 16, 8:30 a.m. JST
Subject: Re: Your extensive order of LEGO Technic and LEGO Architecture sets
Dear Mr. Schröder,
We have an urgent requirement for the LEGO Technic Bugatti Chiron and LEGO Architecture London Skyline sets to replenish our inventory at several flagship resort locations. Please proceed with shipping the 6,250 units of item #42083, 5,000 units of item #42056, 8,750 units of item #21034, and 4,500 units of item #21043 as you have proposed. However, given that we placed our order significantly in advance and received your initial order confirmation, we had anticipated that the specified quantities would be fulfilled. We would be most appreciative if you could extend a courtesy discount on the LEGO Technic Porsche 911 GT3 RS and LEGO Architecture San Francisco Skyline sets, offering them at the same total price as the 3,500 units of item #42083 and 2,750 units of item #21034 that were originally ordered.
Additionally, we would like to augment our order with 5,000 units of the LEGO Architecture Statue of Liberty set (item #21042). Could you kindly apprise us of any potential volume discounts that may be applicable to this substantial addition to our order? Looking ahead to the forthcoming quarter, we anticipate placing an order for 7,500 units of the LEGO Architecture Statue of Liberty set.
Concerning the LEGO Technic Rough Terrain Crane sets, it has come to our attention that your esteemed competitor, BuildMaster Systems Ltd., has recently introduced a comparable set (item #BM9500) boasting advanced pneumatic systems and enhanced control mechanisms. They are offering this impressive set at a highly competitive price point of $279.99 per unit. While our executive leadership team is carefully considering the BuildMaster Systems set, our discerning clientele have consistently demonstrated a strong affinity for the LEGO brand and have expressed keen interest in experiencing the innovative features of the new LEGO Technic Rough Terrain Crane set. If you could accommodate an order of 6,250 units of item #42100 at a price of $309.99 per unit, along with extending volume discount incentives on the remaining 6,250 units of item #42082 at the standard price, it would significantly bolster the likelihood of our company proceeding with the entirety of the order through BrickMaster International GmbH.
Email 3
From: Maximilian Schröder, Global Sales Director at BrickMaster International GmbH
To: Sophia Nakamura, Chief Procurement Officer at Worldwide Theme Parks & Resorts
Date: June 16, 4:45 p.m. CET
Subject: Re: Your extensive order of LEGO Technic and LEGO Architecture sets
Dear Ms. Nakamura,
I would like to extend my sincere apologies for any inconvenience caused by the discrepancy in your initial order confirmation. After conducting a thorough analysis with my team, we are pleased to offer you the 5,000 units of item #42056 and 4,500 units of item #21043 at the equivalent total price of the 3,500 units of item #42083 and 2,750 units of item #21034 that were originally ordered, inclusive of our volume discount incentive.
Following a strategic consultation with my esteemed supervisor, I am authorized to present the following volume discount structure:
- 5% discount on orders exceeding 5,000 units of a single set
- 8% discount on orders exceeding 10,000 units of a single set
- 12% discount on orders exceeding 15,000 units of a single set
These volume discounts will be applied independently to each LEGO set, based on the quantity ordered for that specific set. For instance, your order of 14,000 units of the LEGO Architecture Statue of Liberty set (item #21042) would qualify for an 8% discount on that particular set.
Regarding your request for the new LEGO Technic Rough Terrain Crane set (item #42100), I have diligently negotiated with our executive leadership team. In acknowledgment of our valued partnership and your continued loyalty to the LEGO brand, we are prepared to extend a special offer. We will allocate 6,250 units of item #42100 at a discounted price of $314.99 per unit, representing a 5% reduction from the list price. Additionally, we will apply a 5% volume discount to the remaining 6,250 units of item #42082 at the standard price of $299.99 per unit.
Please advise me of your decision regarding these proposed accommodations, and I will promptly initiate the necessary arrangements to expedite your order. We genuinely value your business and look forward to continuing our mutually beneficial partnership.
Best regards,
Maximilian Schröder
Global Sales Director
BrickMaster International GmbH
Questions:
1. Based on the information provided in the emails, what is the total number of LEGO sets that Worldwide Theme Parks & Resorts initially ordered?
A. 47,750
B. 48,750
C. 49,750
D. 50,750
2. If Worldwide Theme Parks & Resorts accepts the proposed changes to their order, how many units of the LEGO Technic Porsche 911 GT3 RS set (item #42056) will they receive?
A. 3,500
B. 4,500
C. 5,000
D. 6,250
3. What is the price difference between the LEGO Technic Rough Terrain Crane set (item #42082) and the new LEGO Technic Rough Terrain Crane set (item #42100)?
A. $20.00
B. $29.99
C. $30.00
D. $50.00
4. If Worldwide Theme Parks & Resorts accepts the proposed offer for the LEGO Technic Rough Terrain Crane sets, what will be the total cost of the 6,250 units of item #42100 after the 5% discount?
A. $1,874,993.75
B. $1,968,687.50
C. $2,062,493.75
D. $2,156,187.50
5. Which LEGO set is being offered by BuildMaster Systems Ltd. at a price of $279.99 per unit?
A. LEGO Technic Rough Terrain Crane set (item #42082)
B. LEGO Technic Bugatti Chiron set (item #42083)
C. LEGO Technic Porsche 911 GT3 RS set (item #42056)
D. BuildMaster Systems set (item #BM9500)
6. Based on the volume discount structure provided by BrickMaster International GmbH, what would be the discount percentage applied to an order of 12,000 units of a single LEGO set?
A. 5%
B. 8%
C. 10%
D. 12%
7. What is the total price of 4,500 units of the LEGO Architecture San Francisco Skyline set (item #21043) at the listed price of $49.99 per unit?
A. $212,457.50
B. $220,455.00
C. $224,955.00
D. $229,950.00
8. If Worldwide Theme Parks & Resorts orders 7,500 units of the LEGO Architecture Statue of Liberty set (item #21042) in the forthcoming quarter, what would be the total cost after applying the appropriate volume discount?
A. $809,932.50
B. $854,925.00
C. $899,925.00
D. $944,925.00
9. What is the difference in price per unit between the LEGO Technic Rough Terrain Crane set (item #42100) offered by BrickMaster International GmbH and the comparable set (item #BM9500) offered by BuildMaster Systems Ltd.?
A. $25.00
B. $30.00
C. $35.00
D. $50.00
10. If Worldwide Theme Parks & Resorts accepts all the proposed changes and offers, what will be the total cost of their revised order, excluding the potential order of 7,500 units of the LEGO Architecture Statue of Liberty set in the forthcoming quarter?
RC
我的答案：CEEBDBAC
正确答案：DECBDBAC
第一题：第四段末句Paced by technological advances that made "self-service" a reality, as well as by a rising level of investor sophistication, the trend toward specialization gained momentum. 作者: NickPlus 时间: 2024-6-11 10:01
Mark一下！ 作者: 为了G700 时间: 2024-6-11 13:05
Day 147 CR
第一题，解释题，选A。
P：一个有名的乐队决定发放新专辑的时候，允许听众免费下载，乐队让听众评估是否值得，有些人说值得，有些说不值得。
C：最终这个专辑收获更大的营收。