Exam: BEC Higher

Definition: The act of buying and selling something, especially stocks or tickets, to make a profit, often by taking advantage of price changes.

Example: He made a lot of money through scalping concert tickets.

Definition: To remove the scalp or top layer of something, often used in a context of trading where one buys and sells quickly to make a profit.

Example: He is scalping tickets to the concert for a higher price.

Definition: The money given by the government to encourage people to trade in old vehicles for new, more eco-friendly ones, or the act of getting rid of something that is no longer useful.

Example: The government offered a scrappage incentive to help reduce pollution from old cars.

Definition: To save money or resources by spending as little as possible.

Example: During the tough times, they had to scrimp on groceries to make ends meet.

Definition: To use less of something than is needed, often to save money or resources.

Example: They had to scrimp on groceries to save for their vacation.

Definition: A department or office managed by a secretary, often in a government or international organization.

Example: The secretariat is responsible for coordinating the activities of the organization.

Definition: The action of making something safe or certain.

Example: The securement of the building was completed before the storm hit.

Definition: To convert loans or other financial assets into securities that can be sold to investors.

Example: The bank decided to securitize its mortgage loans to raise capital.

Definition: Describing something that has been converted into a financial security, often for investment purposes.

Example: The bank offered a securitized loan to investors looking for stable returns.

Definition: To convert an asset or a group of assets into a security, which can then be sold to investors.

Example: The bank securitized the mortgage loans to raise funds for new projects.

Definition: A situation where a large number of stocks, bonds, or other assets are sold quickly, usually leading to a drop in their prices.

Example: The sudden selloff in the stock market caused many investors to panic.

Definition: The status or advantage someone has because they have been in a job or organization longer than others.

Example: In our company, promotions are often based on seniority rather than performance.

Definition: A thing that balances or compensates for another; it can also refer to a projection from a wall or a decorative element that enhances contrast.

Example: The tax setoff helped reduce the amount I owed this year.