Meaning: "equities" means shares in companies.

Wrong options:

• equites: It leaves out the "i". Write "equities". Only the exact spelling gets the mark.
• equity: "equity" is a close word, but it ends in "y". The speaker says "equities", which ends in "ies".

Correct answer: fears

Explanation: Here you hear "and fears about an". The sentence needs a feeling word, more than one.

Meaning: "fears" means worries or concerns.

Wrong options:

• faers: Two letters are in the wrong order. The right spelling is "fears". Every letter must be correct to get the mark.
• fear: "fear" has no "s" at the end. The speaker says "fears", so write the "s".

Correct answer: heavy

Explanation: The speaker says "were exceptionally heavy for". This describes trading, so use a describing word that ends in y.

Meaning: "heavy" means a lot or very strong here.

Wrong options:

• heavvy: It adds an extra "v". Check the letters: "heavy". A small spelling mistake loses the mark.
• heavily: "heavily" is a close word, but it ends in "ily". The speaker says "heavy", which ends in "y".

Correct answer: swings

Explanation: You hear "particularly wild swings in". The sentence wants a word for movements, more than one.

Meaning: "swings" means sudden changes up and down.

Wrong options:

• swinges: It adds an extra "e". Write "swings". Only the exact spelling gets the mark.
• swing: "swing" has no "s" at the end. The speaker says "swings", so write the "s".

Correct answer: corporate

Explanation: Listen for "against corporate defaults." It comes before "defaults", so use a word for company defaults.

Meaning: "corporate" means connected to companies or businesses.

Wrong options:

• corparate: It has "a" where the word has "o". The right spelling is "corporate". Every letter must be correct to get the mark.
• corporation: "corporation" is a close word, but it ends in "ion". The speaker says "corporate", which ends in "e".