PART FOUR WRITING
SECTION A
Directions: Read the following passage. Fill in the numbered blanks by using the information for the passage. Write NO MORE THAN 3 WORDS for each answer.
On 3 March 2009, a package of reforms about ATM charge designed to improve competition in the Australian ATM system came into effect. Specifically, the reforms have made it easier for new providers of ATM services to enter the market and have provided ATM owners with the freedom to charge customers for the use of ATMs. Furthermore, the reforms have increased the transparency of ATM fees by ensuring that the fee charged by the ATM owner is displayed prior(在…之前) to the transaction(交易) being finished, with the customer given the opportunity to cancel the transaction at no cost.
One element of the reforms is the removal of interchange fees that card issuers paid to ATM owners when cardholders used ATMs that did not belong to their financial institution. These fees were often passed on, with a huge profit, by card issuers to cardholders in the form of a “foreign fee”. With the removal of interchange fees, the cost to card issuers when their customers use an ATM belonging to another unit has fallen, reducing the need to charge “foreign fees”.
Following the reforms, an ATM owner can charge a cardholder directly for an ATM transaction. When the ATM owner charges such a fee, it must be disclosed before the cardholder withdraws the cash or makes a balance enquiry, and it doesn’t apply if the transaction is cancelled before completion. And an ATM owner could impose direct charges on all customers, including its own if it’s also a financial institution.
Before the reforms, an interchange fee was paid by the cardholder’s financial institution to the ATM owner whenever a “foreign” ATM transaction was undertaken. And now the interchange fee paid has been cancelled and, in line with this, foreign fees have also fallen. In some cases, including two of the major banks, foreign fees were reduced to zero.
Title:   71___________
I. Time of 72.         : on 3 March 2009
II. 73.         : to improve competition in the Australian ATM system
III. 74.          :
u Making it easier for new 75.          to enter the market
u Offering ATM owners the freedom to charge customers for 76.        
u 77. ________________ of ATM fees
u 78.____________that card issuers paid to ATM owners when cardholders used ATMs not belonging to their financial institution
u A cardholder: being charged directly for an ATM transaction
u An ATM owner: being able to 79.          on all customers
IV. 80.          of interchange fee:
u Before the reforms: often being charged by the cardholder’s financial institution
u After the reforms: having fallen and some being reduced to zero

PART FOUR WRITING

SECTION A

Directions: Read the following passage. Fill in the numbered blanks by using the information for the passage. Write NO MORE THAN 3 WORDS for each answer.

On 3 March 2009, a package of reforms about ATM charge designed to improve competition in the Australian ATM system came into effect. Specifically, the reforms have made it easier for new providers of ATM services to enter the market and have provided ATM owners with the freedom to charge customers for the use of ATMs. Furthermore, the reforms have increased the transparency of ATM fees by ensuring that the fee charged by the ATM owner is displayed prior(在…之前) to the transaction(交易) being finished, with the customer given the opportunity to cancel the transaction at no cost.

One element of the reforms is the removal of interchange fees that card issuers paid to ATM owners when cardholders used ATMs that did not belong to their financial institution. These fees were often passed on, with a huge profit, by card issuers to cardholders in the form of a “foreign fee”. With the removal of interchange fees, the cost to card issuers when their customers use an ATM belonging to another unit has fallen, reducing the need to charge “foreign fees”.

Following the reforms, an ATM owner can charge a cardholder directly for an ATM transaction. When the ATM owner charges such a fee, it must be disclosed before the cardholder withdraws the cash or makes a balance enquiry, and it doesn’t apply if the transaction is cancelled before completion. And an ATM owner could impose direct charges on all customers, including its own if it’s also a financial institution.

Before the reforms, an interchange fee was paid by the cardholder’s financial institution to the ATM owner whenever a “foreign” ATM transaction was undertaken. And now the interchange fee paid has been cancelled and, in line with this, foreign fees have also fallen. In some cases, including two of the major banks, foreign fees were reduced to zero.

Title:   71___________

I. Time of 72.         : on 3 March 2009

II. 73.          : to improve competition in the Australian ATM system

III. 74.          :

Making it easier for new 75.           to enter the market

Offering ATM owners the freedom to charge customers for 76.        

77. ________________ of ATM fees

78.____________that card issuers paid to ATM owners when cardholders used ATMs not belonging to their financial institution

A cardholder: being charged directly for an ATM transaction

An ATM owner: being able to 79.           on all customers

   IV. 80.           of interchange fee:

Before the reforms: often being charged by the cardholder’s financial institution

After the reforms: having fallen and some being reduced to zero