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14
Preferred stock comes with a guarantee that its owner will be the first to receive a
share in the company's profits, a periodic payment known as a dividend. Also, if
the company fails, or liquidates, owners of preferred stock are assured first crack
at a claim, recouping their original investment.
These two mechanisms help insulate preferred stock owners from the company's
bad times. But preferred stock owners are also insulated from the company's
more prosperous periods. If the corporation has an especially good year and de-
cides to hand out fatter dividend checks, preferred stock owners still receive divi-
dends at their standard rate.
5. Common stock is generally less expensive and comes with more risks-and
greater potential rewards. Owners of common stock may or may not receive divi-
dends, depending on the company's financial health and policy about profit shar-
ing.
But common stock owners have some say in making that policy. As a part-owner
in the company, a common stock owner has a right vote at the annual sharehold-
ers' meeting. Usually an investor is entitled to one vote per share of stock. Pre-
ferred stock owners do not have voting rights.
Owners of common stock hope to make money either through the dividends they
receive or by selling the stock for more than they originally paid for it. That profit
is known as capital gains. Common stocks are generally considered very liquid.
A liquid investment is one that can be quickly sold or converted back into cash.
6. Many investors combine the advantages of different types of securities
by buying into a mutual fund – several stocks lumped together as one in-
vestment package. Professional money managers pool the individual’s re-
sources, invest the money, and pass the profits back to the investors. Mu-
tual funds may be designed to focus on a particular goal-such as long-term
growth or short-term gain. The individual investor has no say in managing
the fund.
XI. Complete the statements, selecting the letter of the best choice:
1. An Investment is something a person spends money for in order to
___________.
a) gain public attention;
b) make more money;
c) promote a political cause.
2. Retained earnings are profits that a company _____________.
a) pays out in taxes;
b) shares with its stockholders;
c) puts back into its own business.
3. A company that issues bonds is actually ____________ .
a) selling small pieces of ownership in its business;
b) borrowing money;
c) lending money.
4. When a company goes public, it offers people a chance to _________ .
a) examine its books;
b) purchase its stocks;
c) learn how its products are made.
5. A dividend is _________ .
a) a stockowner’s share in the company’s profits;
b) interest paid on a loan;
c) any form of securities.
6. Investors who make a capital gain have _________ .
a) sold stocks for more than they paid for them;
b) bought stocks in a new company;
c) traded stocks for bonds.
XII. Make up statements matching phrases from column A with phrases
from column B:
Column A Column B
1. Investment bunker ______
2. First claim ______
3. Common stock ______
4. Mutual fund ________
5. Pension plan _______
a) puts indirect investors into the mar-
ket.
b) invests your money in various securi-
ties.
c) lends money to new investors.
d) helps put price tag on new stock.
e) always sells below $10 a share.
f) gives owner a vote on company pol-
icy.
Preferred stock comes with a guarantee that its owner will be the first to receive a a) pays out in taxes;
share in the company's profits, a periodic payment known as a dividend. Also, if b) shares with its stockholders;
the company fails, or liquidates, owners of preferred stock are assured first crack c) puts back into its own business.
at a claim, recouping their original investment. 3. A company that issues bonds is actually ____________ .
These two mechanisms help insulate preferred stock owners from the company's
a) selling small pieces of ownership in its business;
bad times. But preferred stock owners are also insulated from the company's
more prosperous periods. If the corporation has an especially good year and de-
b) borrowing money;
cides to hand out fatter dividend checks, preferred stock owners still receive divi- c) lending money.
dends at their standard rate.
5. Common stock is generally less expensive and comes with more risks-and 4. When a company goes public, it offers people a chance to _________ .
greater potential rewards. Owners of common stock may or may not receive divi- a) examine its books;
dends, depending on the company's financial health and policy about profit shar- b) purchase its stocks;
ing. c) learn how its products are made.
But common stock owners have some say in making that policy. As a part-owner
in the company, a common stock owner has a right vote at the annual sharehold- 5. A dividend is _________ .
ers' meeting. Usually an investor is entitled to one vote per share of stock. Pre- a) a stockowner’s share in the company’s profits;
ferred stock owners do not have voting rights.
b) interest paid on a loan;
Owners of common stock hope to make money either through the dividends they
receive or by selling the stock for more than they originally paid for it. That profit
c) any form of securities.
is known as capital gains. Common stocks are generally considered very liquid.
A liquid investment is one that can be quickly sold or converted back into cash. 6. Investors who make a capital gain have _________ .
6. Many investors combine the advantages of different types of securities a) sold stocks for more than they paid for them;
by buying into a mutual fund – several stocks lumped together as one in- b) bought stocks in a new company;
vestment package. Professional money managers pool the individual’s re- c) traded stocks for bonds.
sources, invest the money, and pass the profits back to the investors. Mu-
tual funds may be designed to focus on a particular goal-such as long-term XII. Make up statements matching phrases from column A with phrases
growth or short-term gain. The individual investor has no say in managing from column B:
the fund.
Column A Column B
XI. Complete the statements, selecting the letter of the best choice: 1. Investment bunker ______ a) puts indirect investors into the mar-
2. First claim ______ ket.
1. An Investment is something a person spends money for in order to 3. Common stock ______ b) invests your money in various securi-
___________. 4. Mutual fund ________ ties.
a) gain public attention; 5. Pension plan _______ c) lends money to new investors.
b) make more money; d) helps put price tag on new stock.
c) promote a political cause. e) always sells below $10 a share.
f) gives owner a vote on company pol-
2. Retained earnings are profits that a company _____________. icy.
14
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