FCE Cambridge First Certificate in English: Study Practice Exercises for Paper Three: English in Use

Complete with the word that best fits the space.

THE MAFIA LOAN SHARKS

Loan-sharking - lending money - is the biggest racket in the United States underworld. It is (01)........................... profitable that one New York gang boss built up $500,00 (02).......................... $7.5 million in about five years.

(03)........................... are four operating levels in loan-sharking. At the (04)........................... is the Mafia boss. Just (05)........................... him are his principal lieutenants who give money to (06)........................... own subordinates for investment. These third-echelon underlings lend out much of the money themselves, and pass the rest (07)........................... to the lowest level, the bookie and the street-corner thug.

A retired expert from New York City's bureau of criminal investigation describes (08)......................... it works:

"A big racket boss (09)........................... ten trusted lieutenants (10)........................... a Christmas party in his home, He distributes one million dollars (11)........................... cash - $100,000 to (12)........................... of these ten men. He doesn't have to keep any record of the names or the amounts. All he says is, I want one per cent (13)........................... week. I don't care (14)........................... you get, but I want one per cent. For the next year's Christmas party, the only problem this gang leader has is where he is going find five more men to hand out the $500,000 to that he earned during the year."

Naturally, the interest rate goes (15)........................... as the money goes through the various echelons. On the second level, the rate may be 1.5 or 2 per cent a week. On the lowest level, it can be 5 per cent a week, 260 per cent a year.