16. International banking and investments

16. International banking and investments


1.      Because Britain
is an island, in British English, a bank account in another country is known as
an _______ account.

A. off-island                 b. off-coast             c. offshore

2.      Transferring money from Britain to another country is
called sending money_______.

A. overseas                  b. over-water           c. over-waves

3.      A country with very low taxes is known as a _______.

A. tax heaven                b. tax haven           c. tax paradise

4.      The principal aim of offshore banking in tax havens is to reduce the
customers tax _______.

A. liabilities                  b. expense             c. costs

5.      A person of any nationality who normally lives in the UK is called a UK _______.

A. resident                   b. inhabitant           c. citizen

6.      A person with a UK
passport is called a _______, even if they do not live in the UK.

resident               b. UK inhabitant        c. UK citizen

7.      A person who is has a UK
passport but does not normally live in the UK is called a _______.

A. non-resident               b. non-inhabitant        c. Non-citizen

8.      Jim mostly lives in Spain,
but for tax _______ he is resident in the UK.

A. purposes                  b. registration            c. payment

9.      Jim is _______.

taxed                  b. UK taxable            c. a UK tax-payer

10.  Although she lives and works in Germany,
Maria company is _______ in Liechtenstein.

A. registered                  b. recorded              c. officially situated

11.  An informal way of saying that Maria lives in Germany is that Maria is _______ in Germany.

A. housed                     b. domiciled             c. based

12.  A formal way of saying that Maria lives in Germany is that Maria is _______ in Germany.

A. housed                     b. domiciled              c. based

13.  A _______ payment is a fast and secure way to make an international

A. fast-track                   b. priority                c. top priority

14.  SWIFT is an international _______ payment system.

A. electric                       b. electrical                c. electronic

15.  A person who receives an international payment is called the

A. getter                        b. beneficiary               c. receiver


If the payment is in a foreign currency,
the bank carries out the currency exchange at the ________rate.

The payment is sent by SWIFT.

Instruct your bank to make the payment. If transferring
_______ to a bank account, quote the beneficiary IBAN (international bank
account number)

The transfer usually takes three or four working

The payment is credited to the beneficiarys
account , or can be collected by the beneficiary upon production of a suitable
means of _______.

Decide if you want to send the payment in
_______ or in another currency.


Aimed at private investors

Aimed at institutional investors, such as
pension funds.

Usually operated by fund manager

Liable for UK tax

Based on a tax haven

Usually based a portfolio of stocks and

Regulated by UK authorities

May carry additional risks

A no-risk investment

Called a “mutual fund” in the united states.

This entry was posted in Finance. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s