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Task 1: Banking Quiz

enero 6, 2011

Banking and Finance Quiz

The first task of the course consisted of a test of financial vocabulary. Below is the task and the solution and a brief explanation of my mistakes

1. Here is a small …… . You’ll get the rest of the money after the job is finished.
a) benefit
b) advance

c) preview

Solution: The correct answer is b (advance), it is clear that we are talking about an advance received before the end of a job.

2. “Here’s a ten-pound …… “. “Your change, Sir”.
a) invoice
b) bill
c) note

Solution: In the second question, I chose the second option (bill) but the correct option is Note. Bill is only for dollars bill and invoice is a ticket

3. “What is the ……… in Poland”. “It’s the Polish Zloty”.
a) money
b) currency
c) greenback

Solution: The third question the right choice is b, because between money and currency the most appropriate is currency that it referring to the type of coin.

He doesn’t have any money problems. He is fully …… .
a) wealthy
b) solvent
c) thrifty

Solution: Rich, is when you have big money saver when not spend and solvent when you doesn’t have any money problems

If you work longer than your usual working day you should be paid ……
a) outgoing
b) overdue
c) overtime

Solution: If you work longer than your usual working day you should be paid overtime and no overdue or outgoing.

6. I don’t get paid in cash. My salary is paid into my bank ……. .
a) deposit
b) debt
c) account

Solution: The salary is paid into a bank account and not into a “imposition” or “Debt”.

7. The long-term loan you take from a bank to buy a house or flat is called a ……… .
a) mortgage
b) overdraft
c) arrears

Solution: The long-term loans for home purchase are called mortgage Overdraft is having a negative balance in the bank account and arrears are delays.

8. I don’t have any money. I’m ……………… .
a) stony broke
b) hand and fist
c) comfortably off

Solution: If a person has no money is because it is stony broke, Hand and fist is being stingy and comfortably off is true when someone things are going well and has money.

9. I need to ……… my belt, and cut down on the money I spend on luxuries.
a) loosen
b) tighten
c) do

Solution: “Tighten my belt” means spend less money on nonessentials. Loosen my belt is the opposite.

10. I don’t have any cash on me. Can I pay with my ………. card?
a) deposit
b) credit
c) expenditure

Solution: Credit card is the name of the card you use to make payments when they do not carry cash. The options Expenditure Card and deposit card are not correct.

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