Vocabulary Exercises
1. List all the forms of money mentioned in the passage and match them with the following definitions: 1) A bank's unqualified guarantee to pay a specified sum to a specified individual or organization. 2) A negotiable instrument issued only by the Bank of England and signed by the Chief Cashier of the Bank. 3) A written order to a bank to pay a stated amount of money. 4) A negotiable instrument issued by a bank in exchange for cash and readily usable in most parts of the world. 5) Token money largely used for small purchases and transactions. 6) A written order to a bank to pay a stated amount of money to a stated person or, after endorsement, to the bearer on or within a stated time after a given date.
2. Choose the right answer: 1) “We constantly handle coins and bills” means: a) cash them under most circumstances, b) deal with them, c) receive them. 2) “bills of every denomination” denote: a) bank notes of different values, b) bank notes of various sizes, c) other means of exchange. 3) “Legal tender” is: a) a type of paper currency, b) a requirement to accept in settlement of a debt, c) money guaranteed by a government. 4. “both cheques and traveller's cheques are readily accepted” means: a) able to be given to another party, b) certified by the bank that funds are available, c) endorsed by an officer of the bank. 5) “the cheque will be honoured» means: a) that it will be readily accepted by creditors, b) that it will be treated with respect, c) that the bank will be ready to cash it. 6) “a bearer” is: a} a person who is named as payee on the exchange document, b} an officer of the bank.who endorses the cheque, c} the person offering the exchange document and demanding payment.
3. Say what is true and what is false. Correct the false sentences: 1. Coins and bills of every denomination are called legal tender. 2. Cheques are rarely accepted in lieu of currency. 3. To cash a traveller's cheque the bearer need only present proper identification. 4. Bills of Exchange are not legal tender. 5. A cheque is always guaranteed by a bank. 6. Certified cheques are always guaranteed by a bank.
4. Using suffixes - eation, -cate, -ment, -ion, -ance, -ature, etc., give nouns which are related lo the following verbs: accept certify circulate denominate endorse invest identify pay prefer present regulate settle signify sign state transact
5. Using prefixes dis-, il-, in-, ir-, un-, non -, etc., give negatives which are related to the following:
accepted maturity common negotiable certified necessary honoured regular legal significant
6. Combine the words listed below into meaningful two or three word expressions as possible:
account honoured proper bank investment profit bill legal reserve cashier money shareholders deposit maturity surplus discount nation transaction endorsing note traveller earnings participation work fellow payment undistributed
7. For each of the following phrases find another one in the text that explains it: 1) Money issued by the central bank of a country. 2) A piece of currency made of metal. 3) Unit of the bank note's value. 4)A document in settlement of a large debt guaranteed by the bank. 5)A document which establishes the identity of a person settling by cheque. 6)Cashing in a Bill of Exchange before it is due for payment. 7)The bank's readiness to accept a cheque for payment.
8. Fill in the blanks with proper words or phrases:
bank notes honoured bearer identification coins issued currency traveller's cheques 1) While travelling I do not like to carry large amounts of ……. 2) I prefer to have..... which are immediately negotiable. 3) Traveller's cheques are..... in different denominations. 4) To cash the traveller's cheque the..... should present proper identification. 5) However, there are merchants who will not accept traveller's cheques even though you present proper….... 6) I collect..... of every denomination.
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