13 What event coincided with Critical Path becoming a public company?
　　A Hayden became the Executive Director of Critical Path.
　　B Investors hired a replacement team to run Critical Path.
　　C Critical Path launched a successful new product on the market.
　　D Critical' Path was floated on the Stock Exchange at 24 cents per share.
　　14 Which of the following situations did Hayden face at Critical Path in 2001?
　　A The employees were worried about job security.
　　B The investors were calling for changes to the company structure.
　　C The management was misleading the staff about the company's position.
　　D The board of directors did not realise the scale of the company's problems.
　　15 One reason Hayden was able to turn Critical Path around was that
　　A he managed to find new investors.
　　B the financial situation was not as bad as he had thought.
　　C he had built up a good relationship with the management team.
　　D he was given the support that he needed.
　　16 What was Hayden's policy regarding the staff of Critical Path?
　　A He paid overtime to everybody who worked outside office hours.
　　B He reduced the workforce by operating an early retirement scheme.
　　C He gave key staff the opportunity to help him set goals for the company.
　　D He restored motivation by showing willingness to work alongside staff.
　　17 According to Hayden, what could indicate that a business is in trouble?
　　A problems keeping accounts up to date
　　B suppliers refusing to offer new credit terms
　　C a frequent need to increase the amount borrowed
　　D difficulties in getting payment from customers on time
　　18 Hayden left Critical Path after he had rescued the company because
　　A he wanted to develop the technology for a new internet service.
　　B he wanted to concentrate on founding a new enterprise.
　　C he had been offered a job with a major internet company.
　　D he decided to go into partnership with a major client.

　　19
　　A Stating
　　B Reporting
　　C Remarking
　　D Informing
　　20
　　A taken
　　B felt
　　C experienced
　　D caught
　　21
　　A released
　　B issued
　　C opened
　　D revealed
　　22 A stays
　　B remains
　　C maintains
　　D keeps
　　23 A track
　　B direction
　　C way
　　D line
　　24
　　A falling
　　B breaking
　　C cutting
　　D slowing
　　25
　　A bringing
　　B putting
　　C getting
　　D mounting
　　26 A shown
　　B resulted
　　C proved
　　D demonstrated
　　27
　　A installed
　　B formed
　　C established
　　D confirmed
　　28
　　A rates
　　B standards
　　C proportions
　　D volumes
　　29
　　A witness
　　B sign
　　C display
　　D evidence
　　30
　　A purely
　　B merely
　　C simply
　　D barely
　　31
　　A union
　　B consolidation
　　C alliance
　　D combination
　　32
　　A trade
　　B office
　　C commerce
　　D business
　　33
　　A trial
　　B venture
　　C proposal
　　D speculation

　　Part 5
　　34 WHICH
　　35 CORRECT
　　36 ON
　　37 CORRECT
　　38 BUT
　　39 UP
　　40 THOSE
　　41 ADDITIONALLY
　　42 BOTH
　　43 TOO
　　44 MUCH
　　45 WHILE