Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to clients' customers and for collecting the accounts receivable purchased by the factor. When factored clients submit customer orders for credit approval, the credit department analyzes the financial condition and credit worthiness of the customer, and then makes a decision to approve or decline the order. The department must then monitor the condition of approved customers and collect all due receivables. Careful credit checking and effective collection procedures in this department can greatly reduce the risks inherent in factoring.
As the head of the credit department, the credit manager is responsible for seeing that the department operates effectively. He must develop the factor' s credit policies in consultation with senior factoring associates, and he is in overall command of everything from credit and collections to bankruptcy and liquidations. If the factor is a commercial bank division, the credit manager is a bank' s vice president, and credit policy must also be approved by top management of the bank.
Assisting the credit manager may be several supervisors who have credit responsibilities of their own and who also oversee the analysis and approval of customer orders by the credit specialists. Credit supervisors typically spend about eighty percent of their time handling large customer orders. If a customer order exceeds a supervisor' s credit authority , he is responsible for making recommendations to the credit manager. A supervisor also reviews a subordinate' s credit decision if the subordinate is unsure of the extent of the credit risk or if a client questions a particular credit decision.
In extremely large credit exposures, supervisors bear the responsibility for analyzing the credit position of the customers and deciding on credit limits. To do this, they must regularly obtain current data from various credit information sources. They must also have extensive contact with each customer to determine operational performance and progress. Frequently, supervisors are called upon to give advice on what should be done to improve a company' S financial condition. Meeting all these responsibilities requires that each supervisor continuously observe and study the industries with which he is concerned, so that he is capable of anticipating market changes which may affect his accounts.
A supervisor' s major challenge is to maintain a fine balance between the demands of clients that all their customer orders be approved and the questionable financial position of some of the customers. In reviewing any credit decision, a supervisor must be capable of weighing a variety of elements, including the possibility of losing the client, the customer' s credit position, and the extent of any possible loss.
41. What is the main idea of the passage?
A. The credit manager' s responsibility.
B. The supervisor' s responsibility.
C. The working procedures of a credit department.
D. The command and control in the credit department.
42. Which of the following is NOT true?
A. The credit policy can be a part of a commercial bank' s policy.
B. The credit policy rests only with the credit manager.
C. The supervisors are the helping hands of the credit manager.
D. A credit manager of the credit department is not necessarily a bank' s leading person.
43. By "a customer order", the customer is most probably trying to get
A. some goods from the factor
B. some money from the factor
C. some goods from the factor' s client
D. some money from the factor' s client
44. "Credit exposures ”probably means
A. uncovered risks
B. approved limits
C. expected sums
D. protected sources
45. The word " anticipating" (Para.4, Sent.5)can be safely replaced by
A. bringing
B. preventing
C. protecting
D. expecting
阅读赏析
本文主要讲述了信用部门的职责和权力。作为代理机构的核心，信用部门对客户信贷活动负责，并收集应收款项。信用部门主管，即信用经理，有责任使整个部门正常运转，由几个部门监督人员来协助其工作。在信用风险极大的情况下，监督人员有责任分析客户的信用情况并决定信用限制。但他们也面临挑战，要协调主管对客人订单的需要和信用风险的平衡。
答案及解析
41.D
【命题目的】此题考查考生归纳中心思想的能力。
【解题要点】文章句，“信用部是代理机构的核心，负责给委托人的客户发放贷款以及收集代理商购买的应收账目”。全文围绕此句展开，讲解“信用部的管理和控制”。A、B、c三项文章都提到了，但是都只是一个方面，不够概括。
42.B
【命题目的】此题考查对文章细节的捕捉。
【解题要点】文章第二段第二句提到“信用经理要和几个信用合作人 协商过后，才能制定信用政策”，所以，8项是错误的。第三段句 “几个有信用责任的监督人协助信用经理并监督其他信用专家的工 作”，所以c项是正确的。第二段后一句表明“信用经理可以是副 行长”，即“不一定是银行的领导”，故D项是正确的。
43.D
【命题目的】此题考查语句释义能力。
【解题要点】factor意为“代理商，代理经营，代管”，client意为“代理委托人”，customer“客户”。a customer order意为“客户订单”，即“向代理委托人贷款的请求”。首先，factor即“代理商”是不会直接发给顾客任何事物或金钱的，先排除A、B两项。段第二句详细解释了代理商要如何审查客户的还款能力和信用度，由此可知是客户希望贷款。
44.A
【命题目的】此题考查语句释义能力。
【解题要点】A项意为“信用风险”，B项意为“通过的限额”，C项意 为“预期的数额”，D项意为“受保护的来源”。上文提到“the extent of the credit risk or if a client questions a particular credit decision”.此处紧承上文，作出表述，因而可推测“credit exposure”意为“信用风 险”。
45.D
【命题目的】此题考查单词释义能力。
【解题要点】A项意为“带来”，8项意为“防止”，C项意为“保护”，D 项意为“期待”。做这类题，如果不认识所有单词，可以通过上下文来推测，上文提到“监督人必须不断地研究自己所在的领域才能承担其所有的责任”，推测这样做的目的是“了解这一领域的情况，避免市场’的变化带来的冲击”，因为“市场的变化”是一种不利因素，是需要避免的，故排除A、C两项。而仅靠“了解所在领域的情况”是不可能 “阻止”市场变化的，也排除B项。
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