a. A letter from a friend.
b. A business report.
c. An internet site.
d. An e-mail.

2. How can this text best be described?

a. Informal.
b. Businesslike
c. Curt
d. Detailed.

3. What does the writer admit?

a. A management buy-out went well.
b. The takeover will not be hostile.
c. That Ivan was right.
d. That he was watching Gerberman.

4. What is the writer's purpose?

a. To tell Ivan to buy shares.
b. To ask for a dividend
c. To admit he was wrong.
d. To give good news.

5. Why is Gerberman being sold?

a. It owes too much money to be profitable
b. The market is too flat
c. It is being taken over.
d. It has to pay a dividend.

6. When does the writer expect to make some money?

a. Immediately
b. Until the end of the month
c. When the company is purchased.
d. Before the dividends are distributed.

7. What does the writer think of Holler's purchase?

a. It is too expensive
b. It is bad for competition
c. He has no opinion
d. He thinks it is a good idea

8. The writer of this letter might be ...

a. A share dealer
b. A journalist
c. A businessman
d. Any of the above

ANSWERS