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Tag Archives: Banking Terms

International Business Academy | Business English - Banking term practice

Practice Banking Terms in English

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Knowing banking terms is a necessity. Some of us use it more frequently than others, but for the most part, we all have to use it at least once a month.

Here are the practice questions and answers from our Facebook post for September 10th, 2015.

International Business Academy Guatemala | Business English Practice Things of value owned by a business are known as _____________. assets assertions assessment

Asset

noun. property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.

Assertions

noun. a confident and forceful statement of fact or belief.

Assessment

noun. the evaluation or estimation of the nature, quality, or ability of someone or something.

Answer: A. Assets


International Business Academy Guatemala | Business English Practice What's the opposite of an asset? Possess liability liaison

Possess

verb. have as belonging to one; own.

Liability

noun. a thing for which someone is responsible, especially a debt or financial obligation.

Liaison

noun. a person who acts as a link to assist communication or cooperation between groups of people.

Answer: B. Liability


International Business Academy Guatemala | Business English Practice If your check "__________", you probably didn’t have enough in the account to cover it. Burns bounces binds

Burns

noun. an injury caused by exposure to heat or flame.

Bounces

verb (3rd present person). informal (of a check) be returned by a bank when there are insufficient funds to meet it.

Bind

noun. a problematical situation.

Answer: B. Bounces


International Business Academy Guatemala | Business English Practice A person's credit _________ is a formal evaluation of their loan-repayment history or potential. level rate rating

Level

noun. a position on a real or imaginary scale of amount, quantity, extent, or quality.

Rate

noun. a measure, quantity, or frequency, typically one measured against some other quantity or measure.

Rating

noun. a classification or ranking of someone or something based on a comparative assessment of their quality, standard, or performance.

Answer: C. Rating


International Business Academy Guatemala | Business English Practice If your bank account goes into "overdraft", it means that_________. you owe the bank money your balance is 0 the bank owes you money

noun

noun: overdraft;  plural noun: overdrafts

A deficit in a bank account caused by drawing more money than the account holds.

Answer: A. you owe the bank money


International Business Academy Guatemala | Business English Practice A good business plan defines your business and __________ your goals. indents idealizes identifies

Indents

verb. 1. start (a line of text) or position (a block of text, table, etc.) further from the margin than the main part of the text. 2. form deep recesses or notches in (a line or surface). noun. a space left by indenting a line or block of text.

Idealizes

verb (3rd person present). regard or represent as perfect or better than in reality.

Identify

verb (3rd person present). establish or indicate who or what (someone or something) is.

Answer: C. Identifies


International Business Academy Guatemala | Business English Practice A lot ____________ on how comprehensive your business plan is. haggles hinges hassles

Haggles

verb (3rd person present). dispute or bargain persistently, especially over the cost of something. noun. a period of persistent bargaining.

Hinges

verb (3rd person present). 1. attach or join with or as if with a hinge. 2. depend entirely on.

Hassles

verb (3rd person present). harass; pester.

Answer: C. Identifies

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