Exam: TOEIC

Definition: A part of a payment that is made at regular intervals until a debt is fully paid off.

Example: I will pay for the car in three installments over the next few months.

Definition: A part of a payment that is made regularly over a period of time, rather than paying the full amount at once.

Example: I decided to pay for the new car in monthly instalments.

Definition: Not a valid English word.

Example: Not available

Definition: A system or agreement that provides financial protection against loss or damage, usually in exchange for regular payments.

Example: Many people buy health insurance to help cover medical expenses.

Definition: A person who is covered by an insurance policy.

Example: As an insurant, she felt secure knowing her health expenses were covered.

Definition: To purchase a policy that provides financial protection against loss or damage.

Example: Many people choose to insure their homes against natural disasters.

Definition: To arrange for financial protection against loss or damage, typically by paying a premium to an insurance company.

Example: He decided to insure his house against fire damage.

Definition: A person who has insurance coverage for their life or property.

Example: The insured must provide accurate information to the insurance company.

Definition: A person or company that provides insurance coverage to protect against financial loss or damage.

Example: The insurer approved my claim after reviewing the documents I submitted.

Definition: Connected to or involving multiple banks, especially in financial transactions or services.

Example: The interbank lending rate is crucial for understanding the cost of borrowing between banks.

Definition: Relating to or occurring between different branches of an organization or system.

Example: The interbranch cooperation improved the efficiency of the project.

Definition: To change places or roles with someone or something else.

Example: The two students decided to interchange their seats for the day.

Definition: A place where two or more roads meet and allow vehicles to switch from one road to another without stopping or crossing traffic.

Example: The new interchange has made it easier for drivers to navigate the busy intersection.

Definition: To exchange or switch places with something else, so that each takes the position of the other.

Example: The teacher asked the students to interchange their seats for the next activity.