[单项选择]A futures trader goes long one futures contract at $450. The settlement price 1 day before expiration is $500. On expiration day, the future is trading at $505. The least likely way the futures trader will lock in her profits on expiration is: ( )
A. Take delivery of the underlying asset and pay $500 to the short.
B. Close out the futures position by selling the futures contract at $505.
C. Take delivery of the underlying asset and pay the expiration settlement price to the short.
D. Cash settle the futures and receive the difference between $500 and the expiration settlement price.

[单项选择]A futures trader goes long one futures contract at $450. The settlement price 1 day before expiration is $500. On expiration day, the future is trading at $505. The least likely way the futures trader will lock in her profits on expiration is: （　）
A. Take delivery of the underlying asset and pay $500 to the short.
B. Close out the futures position by selling the futures contract at $505.
C. Take delivery of the underlying asset and pay the expiration settlement price to the short.
D. Cash settle the futures and receive the difference between $500 and the expiration settlement price.

[单项选择]According to the conversation, how long one should take mild exercise a day to increase one's life span


A. Half an hour.
B. One hour.
C. Two hours.
D. 45 minutes.

[单项选择]Through long power lines electricity goes （　）.
A. to the place needed
B. there it is needed
C. where it is needed
D. which it is needed

[单项选择]How long is one term of office for a representative from the House of Representatives in______. America


A. Two years,
B. Three years.
C. Four years.
D. Five years.

[单项选择]One out of five Chinese studying abroad goes to the United States（）
A. 5个中国人中的一个正在美国学习。
B. 5个中国人中的有一个出国是去美国学习的。
C. 去国外学习的中国人中有1/5去了美国。
D. 1/5的中国留学生去了美国。

[单项选择]How do you know which bus to take if one goes somewhere
A. A sign.
B. A drawing.
C. A bus.
D. A hut.

[单项选择]If one goes to study in the United States as an ESL student, ________.


A. he or she must use English as his or her own language
B. he or she must be a Canadian
C. his or her first language is not English
D. he or she must be a Chinese

[单项选择]—This ruler is three times as long as that one.
It is not______ to discuss the question again and again.


A. worth
B. worthy
C. worthwhile
D. worth while

[单项选择]

Passage One
Long time ago, the ancient people could not travel to any faraway places for they had no instruments to carry them across the wide oceans, the deep valleys, long rivers or the high mountains.
Nowadays men take advantage of steamships, trains, airplanes for modern bridges. Airplanes can carry us to the far countries in a short time; steamships can travel across the wide oceans. It is convenient to the modern people.
Travelling is a good idea to us because we can get more knowledge about, such as the custom, the geography of other countries. And the people could travel among the different countries in the world. For it is easy to travel from the land by trains, or from the sea by ships.
We learnt that the Italian who made the world larger was Mr. Christopher Columbus. He was a brave man. Up to the middle of the 15th century, the people were afraid of travelling because they believed it was a dangerous thing.
There is a sayi
A. he founded America
B. he invaded America
C. he was a brave man
D. he discovered the continent of America