Clésia Maia – Inglês

Curso de Resolução de Provas

Customs Exemptions

U.S.residents returning after a stay abroad of at least 48 hours are usually granted customs
exemptions of $400 each.

The duty-free articles must accompany the traveller at the time of his return, be for personal or
household use, have been acquired as an incident of his trip, and be properly declared to
Customs. No more than one liter of alcoholic beverages may be included in the $400
exemption.

The exemption for alcoholic beverages is accorded only when the returning resident has
attained 21 years of age at the time of his arrival. One hundred cigars and 200 cigarettes may be
included in either exemption. Cuban cigars may be included if obtained in Cuba and all articles
acquired there do not exceed $100 in retail value.

Most items - including alcoholic beverages, cigars, cigarettes and perfume - made in
designated Caribbean and Central American countries may enter the U.S. duty-free under the
Caribbean Basin Economic Recovery Act.

31- According to the text, U.S. residents are normally given customs exemptions of $400 each
when

a) they do not cross the country’s borders.

b) returning from a trip abroad of at least two days.

c) they visit other American states for at least 48 hours.

d) living abroad for long periods of time.

e) returning from a lenghty business trip.

32- Concerning alcoholic beverages, the text states that

a) a defined amount is permitted in the $400 exemption.

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b) they are not included in the $400 exemption.

c) it is against the American regulations to import any amount of them.

d) it is forbidden to acquire them abroad.

e) it is against the law to import them.

33- According to the text, U.S. residents

a) are not granted customs exemptions.

b) of any age are allowed to import alcoholic beverages.

c) must import one hundred cigars and 200 cigarettes.

d) are entitled to specified customs exemptions.

e) should buy Cuban cigars but not exceed $100 in value.

Treasury announces major tax revision plan

The long-anticipated proposal for a simplified U.S. tax code was announced, Nov. 27, by the
Treasury Secretary. He insisted on the semantic distinction that the plan was the Treasury’s,
not the Administration’s. In general, the reform plan would reduce taxes on individuals and
increase them on corporations. The 16 tax brackets for individuals would be replaced by only 3,
with a maximum rate of 35 percent for those making more than $38,100 a year. However, many
personal deductions would be eliminated. Republican leaders in the House predicted that it
would be difficult to get the plan through Congress, and that the strong support of the
president would be required.

34- According to the text, the proposed U.S. tax code is

a) immensely complex.

b) over-elaborated.

c) more difficult to understand.

d) too simple.

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e) easier to understand.

35- The proposed plan aims to

a) increase taxes on individuals.

b) raise the number of tax brackets.

c) increase taxe on the House.

d) raise taxes on corporations.

e) reduce taxes paid by corporations.

36- The plan mentioned in the text derives specifically from the U.S.

a) Administration.

b) Treasury.

c) Congress.

d) House.

e) Customs Department.

37- Concerning the present tax brackets for individuals, the text mentions the fact that

a) they would not be altered.

b) no change would be implemented.

c) they would be decreased.

d) no modification would be required.

e) they would have to be increased.

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Latin American Banks

In May this year, three commercial banks in Argentina were sold to European rivals for a
total of $1.6 billion. This is

just one example of a revolution that is taking place in the financial services industry
throughout Latin America.

Foreign banks now control around 15% of total loans and 16% of total deposits in the six largest
Latin American economies.

Brazil and Argentina in particular are attracting the attention of foreign banks, but for different
reasons. In the bad old days of hyperinflation, Argentines reacted by buying dollars and
keeping them in secret places at home. As a result, the banking system did not develop much.
In Brazil, on the other hand, people learned to live with inflation by indexing prices. The
Brazilian banks needed sophisticated technology to collect and invest money instantaneously.

Today, a foreign company that buys a bank in Argentina can encourage new sectors of the
population to open bank accounts. In Brazil, foreign investors can develop the financial
services market for products such as credit cards, mortgages and consumer loans.

38- According to paragraph 1 of the text, in Latin America there is a revolution in

a) population growth.

b) the size of economies.

c) inflation control.

d) the banking sector.

e) fiscal reform.

39- According to paragraph 2, when inflation was high, people in Brazil and Argentina

a) tried to live with sophisticated technology.

b) changed all their savings into dollars.

c) reacted in different ways.

d) attracted the interest of foreign banks.

e) stayed at home as much as possible.

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40- According to the text, banks in Argentina are

a) more profitable than banks in Brazil.

b) cheaper to buy than banks in Brazil.

c) safer places to keep money than banks in Brazil.

d) more complex than banks in Brazil.

e) less developed than banks in Brazil.

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