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PTE Academic speaking read aloud sample passages 25

PTE Academic Speaking read aloud sample passages

PTE Academic Speaking read aloud sample passages.Look at the text below. In 40 seconds, you must read this text aloud as naturally and clearly as possible.

PTE Academic speaking read aloud | Banking and finance samples

1.The Australian financial system has undergone significant change over the two decades since the Campbell Inquiry triggered a period of financial deregulation. Not only have there been marked changes in the relative importance of the different institutions operating in the financial system, but the nature of financial inter mediation itself has evolved, along with the deepening of financial markets.

2.Banks play a central role in the Australian financial system, holding the majority of financial system assets. In addition to traditional retail deposit-taking and lending activities, banks are involved in almost all other facets of financial inter mediation, including business banking, trading in financial markets, stockbroking, insurance and funds management.

3.Money market corporations use short-term borrowings to finance loans to the financial and business sectors as well as to fund investments, the bulk of which are in debt securities. Finance companies, by contrast, hold a larger proportion of their assets as loans to the business and household sectors. Loans to businesses are often in the form of lease finance, while household loans are typically for motor vehicle and retail purchases.

4.The life insurance industry is relatively concentrated. While there are 36 registered companies, the largest three life insurance groups account for 60 per cent of total Australian assets. Foreign involvement in the life insurance sector is also significant, with the largest firms being AXA from France, Aviva from the United Kingdom and Zurich Life from Switzerland.

PTE Academic Speaking read aloud sample passages

5.Financial stability risks in New Zealand are of particular interest because the four major Australian banks all have large direct exposures to New Zealand through their subsidiaries and branches . There are also important similarities between Australia and New Zealand: banks have similar business models and economic and asset price cycles in the two countries are positively correlated. As a result, financial distress at a New Zealand institution could directly affect Australian banks and would likely occur at a time when Australian banks are also under stress.

6.The main connections between China and other economies that would be relevant in a negative scenario are trade volumes and commodity prices, as well as sentiment in global financial markets. The direct financial linkages between China and other economies remain limited because China’s capital account is relatively closed, but they have grown. Chinese banks are increasingly lending overseas, and some banks in nearby financial centers like Hong Kong and Singapore have large exposures to China, which could transmit financial stress.

7.Chinese investment in Australian residential and commercial property has increased significantly in recent years. This interest in property from Chinese households, institutional investors and developers is not unique to Australia; they are also active in the property markets of other countries, such as the United States, the United Kingdom, Canada and New Zealand.

8.A domestic policy action or other event that lessens Australia’s appeal or accessibility as a migration destination, including for study purposes. Industry contacts suggest that in addition to wealth diversification, many Chinese purchases are dwellings for possible future migration, housing for children studying in Australia or rental accommodation targeted at foreign students. If so, this demand could be expected to be fairly resilient to shorter-term fluctuations in conditions in China or developments in the domestic property market, but more sensitive to changes in migration or education policy.

PTE Academic Speaking read aloud sample passages


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