MATCHING INFORMATION

READING PASSAGE 1
Questions 1-4
The Reading Passage has four sections, A-D
Which section contains the following information?

C
1. A reference to how much kelp an organization has restored. ………………
2. Description of a marine species which feeds on kelp. A D
………………
3. Two factors contributing to a significant decline in kelp in certain regions. B
………………
4. A reference to the roles that kelp plays in marine ecosystem D
………………

CALIFORNIA’S CRITICAL KELP FORESTS ARE DISAPPEARING IN A WARMING

WORLD. CAN THEY BE SAVED?
KELP NEEDS OUR help. Which is why an unprecedented alliance of scientists, fishers, surfers,
entrepreneurs, and experts is coming together to revive California’s vital kelp ecosystem, decimated by a
warming ocean.

A. “The California coast without kelp is like the Amazon without trees,” says Tom Ford, executive
director of the Bay Foundation, a nonprofit dedicated to restoring Santa Monica Bay and its coastal
waters. Indeed, scientists call these fast-growing underwater forests the “sequoias of the sea” for their
ability to store large amounts of carbon dioxide. Kelp forests don’t just play a fundamental role in
curbing climate change. Sea otters and some 800 other marine species depend on them, as do fishers in
the state’s abalone and red urchin industries, now devastated by a purple urchin population explosion.
Gray whales shelter their young in kelp forests. The algae can also be used as biofuel, and when fed to
cows dramatically cuts planet-warming methane emissions from their burps. In California, kelp forests
shape waves by absorbing some of their energy to produce optimal conditions for surfing, a
multimillion-dollar business.

B. But between 2014 and 2016, a marine heat wave wiped out more than 90 percent of the kelp cover
along a 200-mile stretch of California’s north coast. Kelp in some areas of Southern California already
had been reduced by 75 percent over the past century due to pollution and overfishing of species that
protect kelp ecosystems. “Just like the coronavirus is requiring an interdisciplinary, multipronged attack
using all our wits, I think that same mentality is going to help deal with climate change impacts, and in
this case, kelp forest decline,” says Laura Rogers-Bennett, a marine scientist with the University of
California, Davis, and the California Department of Fish and Wildlife, whose research has documented
the kelp die-off.
C. The research vessel Xenarcha is about 10 minutes out of the Port of Los Angeles on an overcast March
morning. A gray whale breaches off the boat’s bow, its tail sending a spray of seawater skyward. The 28-
foot boat belongs to the Bay Foundation, which has restored nearly 53 acres of Palos Verdes Peninsula’s
kelp forests since 2013. That’s a fraction of the 2,500 acres of seaweed estimated to exist a century ago.
But it’s a huge increase since the late 1960s, when kelp had become all but extinct in that area.

D. Rough water gives way to the glassy calm of Honeymoon Cove and its eight acres of giant kelp, roots
anchored to rocky reefs some 18 to 30 feet below. For decades, this cove was largely devoid of life,
devastated by seaweed-eating purple urchins. The urchins resemble small, spikey balls and are a natural
part of kelp ecosystems. But when the predators that keep their numbers in check disappear, the
population booms and can quickly consume a kelp forest, creating what is called an urchin barren. Once
their food is gone, the urchins, which can live for more than 50 years, lower their metabolism and
essentially hibernate.

READING PASSAGE 2
Questions 1-5
The Reading Passage has nine sections, A-I
Which section contains the following information?
Write the correct letter, A-I, in boxes 1-5 on your answer sheet.
N.B. You may use any letter more than once.

1. A review of turnover over a period of time D

………………
2. An account of a failure in running a type of business I
………………
3. A reference of two very successful traders A
………………
4. The finding from a survey on investors D H
………………
B
5. A comparison drawn between selling and buying regarding ………………
their importance.

WHY INVESTORS ARE CAREFUL BUYERS BUT CARELESS SELLERS

Only the very best think as hard about exiting positions as entering them

A. Jack Schwager was once a moderately successful trader who wondered why he was not an
immoderately successful trader. Perhaps if he knew the secrets of trading superstars, such as Paul Tudor
Jones or Jim Rogers, he might improve. So he asked them for those secrets. “Market Wizards”, his book
of interviews with hedge-fund traders, was published in 1989. A second volume soon followed.
B. Both books have since been pored over by a generation of hedge-fund wannabes. They are full of
great stories and tips covering a range of investing styles. Yet there are common elements. It is striking,
for instance, how little emphasis the wizards put on getting into a position—finding the right trade at
the right entry price—compared with when to get out of it. That makes sense. Deciding what and when
to sell surely matters at least as much as, and perhaps more than, deciding what to buy.

C. The wizardly injunction to cut your losses and let your winners ride has hardened into hedge-fund
doctrine. Even so, it is not widely practised in mainstream investing. Fund managers pay lots of attention
to buying decisions. But they are remarkably careless in deciding what to sell.

D. That is the central finding of “Selling Fast and Buying Slow”, published late last year by a trio of
academics—Klakow Akepanidtaworn of the University of Chicago’s Booth School of Business, Alex Imas
of Carnegie Mellon University and Lawrence Schmidt of the Massachusetts Institute of Technology—
together with Rick Di Mascio of Inalytics, a data firm. They examined the daily turnover of hundreds of
portfolios over several years, tracking more than 2 million stock purchases and almost as many sales.
Buying decisions, they found, were good: the addition of a stock generally improved a portfolio. But
selling decisions were bad—so bad that a fund manager would have been much better off choosing a
stock to sell at random.

E. The disparity between sales and purchases is explained by the attention given to each. Fund managers
are careful buyers. Purchases come at the end of a long period of serious thought and research. But they
do not give stock sales anything like the same attention. That is especially true when they are stressed
because their portfolio has recently done badly. Instead of deliberating, they use a mental shortcut.
Stocks that have done either really well or really badly, and so stick in the mind, are far more likely to be
sold. The more inclined fund managers are to sell in this way, the worse they perform.

F. They do not realise that careless selling is harmful, it seems. “Selling is simply a cash-raising exercise
for the next buying idea,” one told the paper’s authors. “Buying is an investment decision; selling is
something else,” said another. Fund managers sell the stocks that come most readily to mind. Yet they
are able to sell wisely, if they pay attention. Sales made when they are focused on information about a
stock, for example around the time of an earnings report, are almost as smart as buying decisions, the
authors say.

G. The message is clear. If fund managers took more care over selling, they would be more successful.
But the world is not arranged in such a way as to make them take that care. They will be asked often for
their best buying ideas, but rarely about stocks they own that are ripe for selling. This lopsided approach
to decision-making is not confined to fund management. Businesses often spend an age deciding whom
to hire but put off thinking about whom to let go until there is a pressing financial need, by which point
the decision is likely to be rushed.
H. Why do fund managers take their losses on bad stocks too late and their profits on good stocks too
early? A body of empirical research, surveyed by Brad Barber and Terrance Odean of the University of
California, finds that individual investors show a strong preference for selling winners over losers. They
may be impatient to experience the burst of pride that comes from selling a winner. And they hold on to
losers for too long in the hope of avoiding feelings of regret.

I. The type of superstar trader profiled in “Market Wizards” is as likely to sell a currency, commodity, or
stock short as to buy it. For them, selling is as natural as buying and requires just as much attention. For
his part, Mr Schwager recalls in the book how he lost a lot of money trading soybeans. He failed to get
out of his position when the market moved against him. The decision to buy the beans might not have
been a great one. But it was his selling decision that he truly regretted.

READING PASSAGE 3
Questions 1-5
The Reading Passage has nine sections, A-I
Which section contains the following information?
Write the correct letter, A-I, in boxes 1-5 on your answer sheet.
N.B. You many use any letter more than once.
E
1. Evidence of artistic works found in Angkor Wat. ………………
G
2. A description of challenges during the construction of Angkor Wat. ………………
D
3. A statement on the role of the central tower. ………………
4. The function of some items found under the central tower H
………………
5. A question on further uses of Angkor Wat. ………………
I

Angkor Wat: History of Ancient Temple

Built between roughly A.D. 1113 and 1150, and encompassing an area of about 500 acres (200 hectares),
Angkor Wat is one of the largest religious monuments ever constructed. Its name means "temple city."

A. Originally built as a Hindu temple dedicated to the god Vishnu, it was converted into a Buddhist
temple in the 14th century, and statues of Buddha were added to its already rich artwork. Some time
later it was turned into a military fortification. Today it is a UNESCO World Heritage Site that scientists
are struggling to preserve. Its 213-foot-tall (65 meters) central tower is, along with other four smaller
towers, wrapped around by a series of enclosure walls, a layout that recreates the image of Mount
Meru, a legendary place in Hindu mythology that is said to lie beyond the Himalayas and be the home of
the gods.
B. The city where the temple was built, Angkor, is located in modern-day Cambodia and was once the
capital of the Khmer Empire. This city contains hundreds of temples, and the population may have been
over 1 million people. It was easily the largest city in the world until the Industrial Revolution. Angkor
had an urban core that could easily have held 500,000 people and a vast hinterland that had many more
inhabitants, as airborne laser scanning (lidar) research has shown. Researchers have also identified a
"lost" city called Mahendraparvata, which is located about 25 miles (40 kilometers) north of Angkor
Wat.

C. Angkor Wat itself is surrounded by a 650-foot-wide (200 m) moat that encompasses a perimeter of
more than 3 miles (5 km). This moat is 13 feet deep (4 m) and would have helped stabilize the temple's
foundation, preventing groundwater from rising too high or falling too low. Angkor Wat's main entrance
was to the west (a direction associated with Vishnu) across a stone causeway, with guardian lions
marking the way. Recently, archaeologists found the remains of eight towers made of sandstone and
laterite by the western gateway. These towers may be the remains of shrines that were in use before
Angkor Wat was fully constructed. To the east of the temple was a second, more modest, entrance.

D. The heart of the temple was the central tower, entered by way of a steep staircase, with a statue of
Vishnu at the top. This tower "was at once the symbolic center of the nation and the actual center
where secular and sacred power joined forces," writes researcher Eleanor Mannikka in the book
"Angkor: Celestial Temples of the Khmer Empire" (Abbeville Press, 2002). "From that unparalleled space,
Vishnu and the king ruled over the Khmerpeople."

E. Hidden paintings have been discovered in the central tower. One chamber in the tower has a scene
showing a traditional Khmer ensemble of musical instruments known as the pin peat, which is made up
of different gongs, xylophones, wind instruments, and other percussion instruments. In the same
chamber, there's also an intricate scene featuring people riding horses between two structures, which
might be temples. These two paintings are among the 200 that have been discovered in Angkor Wat
since 2010.

F. A mile-long sand structure containing a variety of spiral designs was recently discovered beside
Angkor Wat by archaeologists using lidar. It would have existed for a brief period during the mid-to-late
12th century. Archaeologists are not certain what it was used for, and it's possible that the structure was
never completed. The remains of homes and ponds used by workers who lived near Angkor Wat, and
serviced the temple, were also found recently during lidar research.

G. Building Angkor Wat was an enormous undertaking that involved quarrying, careful artistic work, and
lots of digging. To create the moat around the temple, 1.5 million cubic meters (53 million cubic feet) of
sand and silt were moved, a task that would have required thousands of people to work at one time. To
support them, a tough material called laterite was used, which in turn was encased with softer
sandstone that was used for carving the reliefs. These sandstone blocks were quarried at the Kulen Hills,
about 18 miles (30 km) to the north. A series of canals were used to transport the blocks to Angkor Wat,
research shows.

H. Beneath the central tower was a shaft that leads to a chamber where, in 1934, archaeologists found
"two pieces of crystal and two gold leaves far beneath where the Vishnu statue must have been," Coe
writes, adding that deposits like these "spiritually 'energized' a temple, much as a battery will provide
power to a portable electronic device."

I. Although Angkor Wat is dedicated to Vishnu, the full purpose of the temple is still debated.
Researchers still wonder whether the ashes of Suryavarman II were interred in the monument, perhaps
in the same chamber where the deposits were found. If that were the case, it would give the temple a
funerary meaning.

READING PASSAGE 4
Questions 1-5
The Reading Passage has nine sections, A-H
Which section contains the following information?
Write the correct letter, A-H, in boxes 1-5 on your answer sheet.

1. A change in scientific beliefs about the sense that leopard seals use for underwater
navigation. ………C
2. Leopard seal’s contrasting characteristics in and out of the sea. ………G
F
3. A reference of body parts that evolve to be able to consume various foods. ………
4. A description about time and place of reproduction of leopard seals. ……… E

5. A reference of the only natural enemies that can threaten leopard seals ……… H

LEOPARD SEAL
A. Named for its spotted coat, ferocity, and superficial resemblance to the spotted “big cat,” the leopard
seal (Hydrurga leptonyx) is one of the five species of “true” or phocid seals that live in Antarctica. Its
status as an apex predator of the continent can be compared to that of the tiger in Asia, the lion in
Africa and the grizzly bear in North America. Leopard seals are found in circumpolar Antarctica, but
there have been sightings as far north as the southern coasts of Australia, New Zealand, South America
and South Africa. Population estimates put their number at 220,000 to 440,000 individuals.

B. Leopard seals are the largest of the “true” (having no external ear flaps) Antarctic seals, and can grow
to over 11 feet (3.3 meters) in length, with exceptionally large individuals weighing up to 1,300 pounds
(590 kg). They are identified by their huge reptilian-like head, large toothy mouth, long neck, arched
back and long powerful flippers with webbed digits (fingers and toes). The fur on the back is dark grey,
the stomach light grey, and the throat area is white with characteristic black spots. Leopard seals can be
confused with Weddell seals, which can also be spotted. Females are slightly larger than males.

C. With the exception of Antarctic fur seals which are “eared” seals, the leopard seal is a true seal like all
other Antarctic seals. Even without external ear flaps they do have an ear canal with an external opening
on both sides of their head. They can hear as well as humans when outside of the water and even better
when underwater. Although it was long believed seals use sonar for navigation and locating food in
conditions of low visibility, scientists now believe they use their movement-sensitive whiskers to
navigate and to locate much of their prey by following hydrodynamic turbulence trailing from fish,
squid, penguins and other seals in dark or murky water.

D. During the Antarctic summer (November–April), leopard seals hunt among the pack ice surrounding
the Antarctic continent, spending almost all of their time (except for breeding) in the water. In the
winter (May–October) they range northward to the subAntarctic islands.

E. Solitary by nature, leopard seals come on land (ice) only during the breeding season and then only in
pairs or small groups. Pupping generally takes place during November and December. Females dig a hole
in the fast ice where they will give birth to a single pup after a 9 to 11-month gestation period
(implantation can be delayed by up to two months). The pups weigh about 66 pounds (30 kg) at birth
and is nursed for about one month. The female protects the pups until they can take care of themselves;
males do not participate in parental care. Male leopard seals reach sexual maturity between ages 6 and
7, females between 3 and 7 years of age. Mating generally takes place after the pupping season in
February when the females are in estrus. Mating takes place in the water.

F. Leopard seals’ acute hearing, sight and smell, coupled with their streamlined bodies that move with
agility and speed, have established them as one of the top predators of the Antarctic. While krill are an
important food for leopard seals, their diet also includes a significant number of warm-blooded animals,
including other seals. The leopard seal’s jaw is adapted to a varied diet. Lobes on the sides of the mouth
filter krill and their mouths have a remarkable looseness—opening to more than 160 degrees—that
enables them to feed on large marine mammals. Their long, sharp teeth are well adapted for cutting and
tearing prey. Being a highly-evolved predator, leopard seals eat krill (estimated at 45% of their diet),
other seals (30%), penguins (10%), and fish and cephalopods (10%). In summer, leopard seals patrol
penguin rookeries, waiting underwater near an ice shelf and snaring the birds just as they enter the
water after jumping off the ice. They have also been seen coming up beneath seabirds resting on the
water surface and snatching them in their jaws.
G. Unlike other seal species that swim by moving their hind limbs from side to side, leopard seals are
graceful swimmers, using long, powerful, simultaneous strokes with their forelimbs. When underwater,
their nose closes automatically and doesn’t reopen until they surface. They can remain underwater for
15–30 minutes, even sleeping under the water and resurfacing for air without waking. As shallow-water
hunters, they do not dive deep. On the ice leopard seals are generally quiet. Underwater they produce
trills, grunts, low-frequency moans, and growling noises.

H. Leopard seals may live for 26 years or longer. Their only known natural predators are the orca whale
and some large sharks. Leopard seals exhibit a ferocious nature with their prey, but they rarely interact
with humans—although visitors to Antarctica are generally warned to keep their distance.