Check your vocabulary for TOEFL
MONEY AND FINANCE
Complete sentences and paragraphs 1 – 20 with a word
or expression from the box. In each case, the word / expression you need is
connected in some way with the word in bold in the same sentence /
paragraph (for example, it might have a similar meaning, it might be an
opposite, or it might be a word that is sometimes confused with that word). In
some cases you might need to change the form of the word in the box.
balance bank bankrupt bargain bill borrow broke bankrupt cash check cost of living credit card credit debt debit deposit discount distribution of wealth dividends economical economize exorbitant expenditure extravagant frugal income income tax inflation inherit insolvent interest in the black in the red invest investment invoice lend loan loss market mortgage on credit overcharged overdraft overpriced pension priceless profit receipt reduction refund salary save savings and loan association shares statement
stocks tax / rent (etc) rebate undercharged unemployment / housing / child (etc.)
welfare wage wealthy welfare withdraw worthless
|
1
|
Income
is
the money you receive (your wage or salary is part of your
income), and _____________refers to the money you spend.
|
2
|
If you lend money, you let someone use your money for
a certain period of time. If you _____________ money, you take someone's
money for a short time, and then you pay it back.
|
3
|
A discount is the percentage by which a full
price is reduced in a store. A _____________ is money paid back to a customer
when, for example, they return something to a store.
|
4
|
If a person or company is insolvent, they have
lost all their money. If a person or company is _____________, they have lost
all their money, have then borrowed a lot, and cannot pay it back.
|
5
|
A bank statement is a detailed written document
from a bank showing how much money has gone into and come out of a bank
account. A _____________ is the amount of money you have in your bank
account.
|
6
|
If your bank account is in the red, the amount of
money you have spent is greater than the money you have made, and so you have
less than $0 in your bank account. If your account is _____________, you have
more than $0 in your bank account.
|
7
|
An invoice is
a note, or bill, sent to you to ask for payment for goods or services,
and a _____________ is a note (from a store, for example) which shows how
much you have paid for something.
|
8
|
When you make a profit, you gain
money from selling something which is more than the money you paid for it.
When you make a _____________, you have spent money which you have not gotten
back.
|
9
|
Something which is overpriced is too expensive. Something which is _____________
costs much more than its true value.
|
10
|
If you save
money, you keep it so that you can use it later. If you _____________
money, you put it into property, stocks, etc., so that it will increase in
value.
|
11
|
A wage and a _____________ are both money you
receive for doing a job, but the first is usually paid daily or weekly
and the second is usually paid monthly.
|
12
|
A worthless object is something which has no
value. A _____________ object is an extremely valuable object.
|
13
|
If you deposit money in an account, you put money into
the account. If you _____________ money, you take it out of your account.
|
14
|
If you have been undercharged, you have
paid less than you should have for goods or services. If you have been
_____________, you have paid too much.
|
15
|
Extravagant describes someone who spends a lot of
money. _____________ describes someone who is careful with money.
|
16
|
A bill is a piece of paper showing the amount
of money that you have to pay for goods or services. A _____________ is the
same thing, but shows what you have to pay after a meal in a restaurant.
|
17
|
When you credit an account, you put money into it.
When you _____________ an account, you take money out of it.
|
18
|
A bank is a business which holds money for its
clients, and deals with money generally. A _____________ is similar, but is
usually used by people who want to save money, or to borrow money to buy a
house.
|
19
|
A loan is
money that you borrow from a bank to buy something. A _____________ is similar,
but in this case the money is only used to buy property.
|
20
|
A loan is money that you borrow from a bank,
where a formal arrangement has been made with the bank to borrow it. An
_____________ is the amount of money that you take out of your bank account,
which is more than there is in your account. It is usually done without
making a formal arrangement with your bank.
|
Exercise 2
Use your
dictionary to check the meanings of the other words and expressions in the box.
Note that many of them can have more than one grammatical function without
changing their form (for example, balance can be a noun and a verb).
Also note that some of the words can have more than one meaning (for example, a
bill is a banknote, and it is also a piece of paper showing you how much
you have to pay for a product or service).
Exercise 3
Complete this conversation with appropriate words and
expressions from the box in Exercise 1. You may need to change the form of some
of the words.
“Financial advice from a father to a son”
In the play “Hamlet”
by William Shakespeare, a father gives his son some financial advice.
“Neither a borrower nor a lender be”, he says. He is trying to tell his son
that he should never (1) _____________ money from anyone because it will make
it difficult for him to manage his finances. Likewise he should never give a (2)
_____________ to a friend because he will probably never see the money again,
and will probably lose his friend as well.
The play was
written over four hundred years ago, but today many parents would give
similar advice to their children. Imagine the conversation they would have
now.
|
Exercise 4
Now try this essay. Use words and expressions from
the vocabulary box in Exercise 1, and any other words or expressions that you
think would be relevant.
Some people say that “Money makes the
world go round”; others say that “Money is the root ofall evil”. Which of these
do you agree with? Use examples and details in your answer.
ANSWER
KEY
No comments:
Post a Comment
thank you for visiting my blog and for your nice comments