Choose the word or word combination to match the definition. 1. A charge paid to a person or a bank for the money borrowed. a) loan b) interest c) rent

1. A charge paid to a person or a bank for the money borrowed.

a) loan

b) interest

c) rent

 

2. Illegally giving someone money so that they act in your favour.

a) racket

b) money laundering

c) bribery

 

3. A book that lists all payments into and withdrawals from a customer's bank account.

a) bank statement

b) bank book

c) bank deposit

 

4. The most important bank in a country that controls a nation's policy on money and interest rates.

a) development bank

b) major bank

c) central bank

 

5. A bank that specializes in raising capital for industry.

a) savings bank

b) merchant bank

c) national bank

 

6. An account with a bank for personal savings.

a) savings account

b) capital account

c) correspondent account

 

7. The central banking system of the USA.

a) Commercial Bank

b) National Bank

c) Federal Reserve System

 

8. A system of making payments by having money transferred from an account.

a) direct mail

b) direct debit

c) direct export

 

9. A customer's instruction to a bank to pay a certain amount to another person or organization at regular intervals.

a) standard rate

b) statement of account

c) standing order

 

10. A free trade association with a common currency and unrestricted movement of capital goods and people between countries.

a) firm market

b) single market

c) profitable market

 

11. The unit of currency of the European Union.

a) dollar

b) euro

c) pound

 

12. The coins and banknotes that belong to a particular country.

a) benefit

b) currency

c) transaction cost

 

13. Money that can be exchanged for the currency of another country.

a) convertible currency

b) counterfeit currency

c) controlled currency

 

14. A group of countries in Europe working to create a stronger world market for European goods and services.

a) European Commission

b) European Union

c) United Nations

 

15. The amount of money that a person, an organization or a country has to buy goods and services.

a) active power

b) economic power

c) purchasing power

 

16. The amount of money spent on a piece of business done.

a) actual cost

b) transaction cost

c) contract cost

 

17. An agreement with a company in which the company will pay for a loss or accident in exchange for regular premiums (payments).

a) insurance

b) installment

c) insulation

 

18. A large amount of money, goods or property.

a) value

b) wealth

c) cost

 

19. Disguising the criminal origin of money such as drug money.

a) money order

b) money supply

c) money laundering

 

20. Change for small purchases.

a) near money

b) pocket money

c) cheap money