Vocabulary for IELTS General Training (Band 8-9) - Finance and Currency

Here, you will learn some English words related to Finance and Currency that are necessary for the General Training IELTS exam.

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Vocabulary for IELTS General Training (Band 8-9)
price fixing
price fixing [noun]

an agreement between business rivals to not sell products at a lower price

Ex: Cartels often engage in price fixing to control market prices and limit competition , resulting in higher prices for consumers .
alimony
alimony [noun]

the money that is demanded by the court to be paid to an ex-spouse or ex-partner

Ex: The terms of the divorce settlement included provisions for alimony and child support .
arrears
arrears [noun]

money that is owed and not yet paid

Ex: Interest continued to accumulate on the outstanding arrears .
collateral
collateral [noun]

a loan guarantee that may be taken away if the loan is not repaid

Ex: In the event of default , the lender has the right to seize and sell the collateral to recover the outstanding debt .
contingency
contingency [noun]

the funds that are set aside for unforeseen expenses that may arise in the future

Ex: Non-profit organizations often establish contingency funds to prepare for unexpected drops in donations or to address urgent community needs .
lump sum
lump sum [noun]

a single, large payment made in full, instead of smaller payments made over time

Ex: Instead of monthly pension payments , retirees sometimes opt for a lump sum payout , allowing them more flexibility in managing their finances .
overhead
overhead [noun]

the regular costs required for maintaining a business or an organization

Ex:
top-up
top-up [noun]

an extra amount of money added to an existing sum so that it reaches the required total

Ex:
bubble
bubble [noun]

a rapid trend of increase in prices that eventually leads to a collapse

Ex: Many analysts warn that the rapid rise in cryptocurrency prices may be indicative of a speculative bubble that could burst at any moment .
outlay
outlay [noun]

the sum of money spent

Ex: Initial outlay for the equipment was high .
receivables
receivables [noun]

the amount of unpaid debt that a company expects to receive from its customers or another company

Ex: The aging report showed that a large portion of the company 's receivables were overdue , prompting management to take action to expedite payments .
seed money
seed money [noun]

the initial amount of money needed to start a business or project

Ex: The university 's innovation center offers seed money grants to faculty members to support the development of promising research projects .
stake
stake [noun]

an amount of money invested in a business

Ex: The billionaire entrepreneur acquired a controlling stake in the struggling airline to turn it around .
nickel
nickel [noun]

a five-cent coin of Canada and the US

Ex: She saved every nickel and dime to buy her favorite book .
corkage
corkage [noun]

an amount of money charged by a restaurant for drinking a wine that was bought from somewhere else by the customer

Ex: The hotel 's policy on corkage was clearly stated : no outside alcohol allowed without a prior arrangement and an additional fee .
gratuity
gratuity [noun]

an additional amount of money given to someone for their services

Ex: It 's customary to leave a gratuity for the waiter or waitress when dining at a restaurant .
building society
building society [noun]

a financial institution that accepts savings deposits and provides mortgage loans

Ex: Many British families rely on building societies for home loans .
cash dispenser
cash dispenser [noun]

an automatic machine that allows people to withdraw money or do other banking operation using a debit card

clearing house
clearing house [noun]

a financial institution that oversees exchanging cheques and other financial transactions

Ex: The international clearing house handles transactions between banks from different countries , ensuring smooth and efficient cross-border payments .
giro
giro [noun]

a British banking system in which funds are transferred from one account to another upon authorization, often via bank or post office

Ex: Customers can authorize giro transfers at their local post office .
line of credit
line of credit [noun]

the maximum amount of loan that a customer is allowed to receive

Ex: The company 's line of credit with its suppliers allowed it to maintain inventory levels without tying up excessive capital .
fintech
fintech [noun]

the technological innovation in financial services

Ex: The fintech industry is rapidly evolving , with new players entering the market to disrupt established financial institutions by offering innovative solutions for lending , insurance , and wealth management .
pension pot
pension pot [noun]

the total accumulated savings set aside for retirement

Ex: After years of diligent saving , John 's pension pot had grown significantly , providing him with a substantial income during retirement .
child support
child support [noun]

a regular payment from one parent to financially support the child after a divorce

Ex: Failure to pay child support can result in legal consequences , including wage garnishment or even imprisonment .
corporate welfare
corporate welfare [noun]

subsidies, incentives, or benefits given by the government to big or growing businesses and corporations

Ex: Proponents of corporate welfare claim that such financial support is necessary to protect jobs and stimulate economic growth .
curtailment
curtailment [noun]

the act of reducing or limiting something in order to reach financial stability

Ex: The curtailment of certain benefits led to employee dissatisfaction and increased turnover .
to wind down
to wind down [verb]

to slowly reduce the activity of a business or organization, leading to its eventual closure

Ex: They have been slowly winding down their manufacturing facilities .
Vocabulary for IELTS General Training (Band 8-9)
Size and Scale Weight and Steadiness Dimensions and Areas Increase in Amount
Decrease in Amount Intensity Speed Shapes
Significance Uniqueness Complexity Value
Challenges Quality Success Failure
Body Shape Age and Appearance Wellness Intelligence
Human Traits Positive Emotional Responses Negative Emotional Responses Positive Emotional States
Negative Emotional States Social Behaviours Tastes and Smells Textures
Sounds Temperature Opinions Thoughts and Decisions
Encouragement and Discouragement Attempt and Prevention Respect and Approval Request and Suggestion
Movements Body Language and Gestures Commanding and Giving Permissions Engaging in Verbal Communication
Eating and Drinking Preparing Food Changing and Forming Hobbies and Routines
Shopping Finance and Currency Office Life Careers
House Recovery Sports Transportation
Society and Social Events Friendship and Enmity Romantic Relationships Gender and Sexuality
Family Emotions Travel and Migration Weather
Pollution Disasters Animals Food and Drinks
Adverbs of Manner