Margaret,

Just a word to the wise before you interview young Ivan English tomorrow. Remember that his sole concern will be to customise a portfolio for a major client. Make sure that he understands that although he can choose the companies in the portfolio, he must not have less than three companies or more than six. I hope he will be prepared to work on those terms.

Also, you might like to try to find out how he would feel about working as a consultant, instead of a full-time employee. There are various tax advantages for both him and us, but he might be reluctant to give up the security of a full-time job. To sweeten the deal you could tell him that we are prepared to go up an extra 8k a year if he is prepared to work on these terms. But I think it's a long shot that he'll go for it.

As is usual with our company we don't expect him to punch a time card. However, he must make sure that he is available for meetings and when we need him. I understand that with his last company there was a strong performance-related element to his pay and I suggest that we keep it going with him here.

Let him know that we are aware that he did not tell his last company he was planning to jump ship. Fortunately for him they recognise that it is a good idea to have somebody who can act as a link between us. You can also tell him that if he tries anything like that with us he will find the financial consequences quite painful!

On the whole I think this young man will be an asset to the company, so if everything goes OK at the interview, you can offer him the job on the spot. Let me know how it goes.

Best regards,

Magnus Blake.

Incidentally, remember we are still lacking a Systems Manager - can you find out why it's taking so long? This is getting urgent, and if we have to head-hunt someone, we will.

1. c
As a Portfolio manager, Ivan will work for a single client. He will be dealing in the shares of several other companies, but he will not be working for them. We know he will not be doing anything else, since this is his sole (only) concern.

2. d
If Ivan works as a consultant, Mr Blake says that there will be greater tax advantages for both Biscuit Investments and Ivan, and he is prepared to "sweeten the deal" by giving Ivan more money. But Mr Blake admits that Ivan will have less security.

3. d
Ivan has to be available when he is needed. Therefore he needs to be told when he is needed, so he must keep in contact. The 8k is extra if Ivan becomes a consultant. He will not have to punch a time card, and Mr Blake does not mention that Ivan will have to sweeten any deals.

4. b
Mr Blake says "with his last company there was a strong performance-related element to his pay". An element is only one part, so Ivan was not paid only by results. Mr Blake does not say that Ivan earned 8k in his last job.

5. a
Mr Blake is discussing the fact that Ivan left his last company without telling them that he wanted to go. So when he says "anything like that" he means any activity of the same kind - i.e. leaving his new job in the same way as he left the last one.

6. c
Mr Blake has already agreed that Ivan should get the job, and he thinks that Ivan will be an asset. And he would like Ivan to get the job immediately, but only if Mrs Meredith thinks that he should. Therefore the final decision must be made by Mrs Meredith.

7. b
A postscript is any extra information that comes after thew writer has "signed off" the letter.
An agenda is a list of things to do. An appendix comes at the end of a book, and an addendum can be added anywhere, not only at the end.

8. d
The letter is businesslike. It describes what Mr Blake wants, and is impersonal.
Mr Blake is very clear about what he wants, so he is not vague. The register of the letter is correct for a boss instructing an employee, so it is not rude, but it is not friendly either.