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  3. Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to client

Often referred to as "the heart of a factoring organization", the credit department is responsible for granting credit to client

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问题      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.  
The word "anticipating" (Para. 4, Sent. 5) can be safely replaced by
选项 A、bringing.
B、preventing.
C、protecting.
D、expecting.
答案D
解析 A项意为“带来”，B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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