[单项选择]An investor buys two calls and one put on ABC stock, all with a strike price of $45. The calls cost $5 each, and the put costs $4. If the investor closes the position when ABC is priced at $55, the investor's per share gain or loss is :

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Passage Four Almost every family buys at least one copy of a newspaper every day, Some people subscribe to as many as two or three different newspapers. But why do people read newspapers Five hundred years ago, news of important happenings--battles lost and won, kings or rulers overthrown or killed--took months and even years to travel from one country to another. The news passed by word of mouth and was never accurate. Today we can read in our newspapers of important e vents that occur in faraway countries on the same day they happen. Apart from supplying news from all over the world, newspapers give us a lot of other useful in formation. There are weather reports, radio, television and film guides, book reviews, stories, and, of course, advertisements. There are all sorts of advertisements. The bigger ones are put in by large companies to bring attention to their products. They pay the newspapers thousands of dollars for their advertising space, but it is worth the money
A. sent by telegraph
B. sent by letter
C. passed from one person to another
D. sent by telephone

[单项选择]What advantage will there be if one buys life insurance instead of making other investments
A. He will have money for a retirement home.
B. It will cost him nothing if he buys an life insurance.
C. Profit he earns from insurance is tax-free.
D. It is cheap to buy a life insurance.

[单项选择]Anyway, even if one wanted to, one couldn't put the clock back to an earlier age.
A. 无论如何，人们也无法找回失去的岁月。
B. 不管他怎么做，也无法将时钟拨回到早先的时代。
C. 不管怎样，即使有人想这么做，他也无法将时钟拨回到早先的时代。
D. 不管怎样，即使有人想这么做，他也无法使自己退回到年轻的时候。

[单项选择]At post offices one buys stamps, leaves ______ letters, sends parcels or money orders, etc.


A. registered
B. rejected
C. regulated
D. reflected

[单项选择]One summer Jack got two different jobs at two places.

[单项选择]The elderly investors no longer employed tile stock brokers mainly because ______.

[单项选择]Having two eyes instead of one is particularly useful for ______ .
A. seeing at night
B. seeing objects far away
C. looking over a wide area
D. judging distances

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Passage Two To us it seems so natural to put up an umbrella to keep the water off when it rains. But actually the umbrella was not invented as protection against rain. Its first use was as a shade against the sun! Nobody knows who first invented it, but the umbrella was used in very ancient times. Probably the first to use it were the Chinese, as early as the eleventh century B. C. We know that the umbrella was used in ancient Egypt and Babylon as a sunshade. And there was a strange thing connected with its use: it became a symbol of honour and authority. In the Far East in ancient times the umbrella was allowed to be used only by royalty or by those in high office. In Europe, the Greeks were the first to use the umbrella as a sunshades. And the umbrella was in common use in ancient Greece. But it is believed that the first persons in Europe to use the umbrella as protection against the rain were the ancient Romans. During the Middle Ages, the use of the umbrella practical
A. when and how the umbrella was invented
B. why the umbrella was so popular in Europe
C. the development of the umbrella
D. the history and use of the umbrella