Exam: BEC Vantage

Definition: Something that can be lent or borrowed, often referring to money or resources that are available for others to use temporarily.

Example: The bank has a number of lendable funds for new businesses.

Definition: A person or organization that gives money to others with the expectation that it will be paid back later, usually with interest.

Example: The lender approved my loan application quickly.

Definition: Not a valid English word.

Example: Not available

Definition: The act of giving something, usually money, to someone with the expectation that it will be returned later.

Example: The bank is known for its lending practices that help small businesses grow.

Definition: To give something to someone temporarily, expecting it to be returned later.

Example: She is lending her book to a friend for the weekend.

Definition: A type of paper that has a printed heading, usually including a name and address, used for official correspondence.

Example: I printed the invitation on my company's letterhead to make it look more professional.

Definition: The power or advantage that allows someone to achieve a desired outcome, often by using resources or influence effectively.

Example: She used her connections in the industry as leverage to secure a better job offer.

Definition: To use something to maximum advantage or to improve a situation, often by utilizing resources or support.

Example: The company aims to leverage its existing technology to create new products.

Definition: Describing a situation where a company uses borrowed money to finance its operations or investments, often resulting in a higher risk due to the reliance on debt.

Example: The leveraged buyout allowed the firm to acquire the company with minimal upfront capital.

Definition: To use something to maximum advantage or benefit.

Example: The company leveraged its resources to expand into new markets.

Definition: To communicate and work together with others to achieve a common goal or to share information.

Example: The project manager will liaise with the team to ensure everyone is on the same page.

Definition: A close connection or relationship between people or groups, often used to describe communication or cooperation between different units or organizations.

Example: The manager acted as a liaison between the team and the upper management.

Definition: A fee or charge for transporting goods using a lighter, which is a type of boat used to carry cargo to and from larger ships.

Example: The company had to pay a lighterage fee for the goods transported to the port.

Definition: A type of currency that was used in Italy, San Marino, and Vatican City before the euro was introduced, and also used in Malta and Israel in the past.

Example: When I traveled to Italy, I exchanged my dollars for lira to buy souvenirs.