Page 103 - Grasp English C1+ (Student Book)

Finance 7

7.1
C. Listen to the conversation. Where do you think the people are? Then listen again and answer
the questions.
1. Which of the following pension plans doesn’t the clerk mention?
a) 403(b) Tax-Sheltered Annuity Plan c) Payroll Reduction IRA
b) Salary Reduction Simplified Employee Pension d) Simplified Employee Pension
2. What does IRA stand for in this situation?
3. How often are deposits made in the Payroll Reduction IRA?
4. Who makes the deposits?
5. What happens if you make a withdrawal from the plan before you are 60?
6. Are you able to use the money you’ve saved in order to get a loan or a mortgage?

D. Match the words and phrases with similar meanings.

1. incomprehensible language a. collateral
2. bank b. comfort zone
3. the period when you no longer work, often around 60 years old c. financial institution
4. wages d. gobbledegook
5. reach an end date, often in financial terms e. mature
6. dependent on f. mortgage

7. personal items which are used to secure money from lenders g. retirement
8. an agreement with a bank when buying a house h. salary
9. familiar with i. subject to
10. topics you know and can relate to j. well-versed in

E. Tell a partner:
a. about what most people do in their retirement in your country.
b. about a time when you felt out of your comfort zone.
c. about a topic which is gobbledegook to you.
d. about a topic you feel well-versed in.

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