Mastering the IELTS Academic Reading: Practice Makes Perfect

IELTS Academic Reading is a crucial component of the exam, testing your ability to understand and interpret various types of academic texts. Regular practice can help you familiarize yourself with the format of the test, improve your reading speed, and enhance your comprehension skills. By dedicating time to practice reading passages and answering questions, you can build confidence and increase your chances of scoring well on the exam.

The following reading exercise in comprehension is a fantastic tool for all the eager candidates out there looking to sharpen their skills for the exam. By taking on these practice exercises, you'll be able to familiarize yourself with the format, types of questions, and level of difficulty commonly seen on the IELTS academic reading test.

Passage: A Brief History of Money

Do you know that it takes 4000 double folds, forward and backward, to tear a bank note? Also, generally speaking, a bank note weighs approximately 1 gram whatever be the denomination. Let us now look at the history of money.

Some of the earliest forms of money were objects from nature, an example of which is cowrie shells. These were first used in about 1200 BC as money. These shells might have been chosen as money because they were small and durable. They were used in many regions in Africa. The Native Americans used shells in the form of tubular shell beads called wampum. Still another currency from nature was whale teeth used by Fijians. The people of Yap Island (which is now part of Micronesia now) used very big disks of limestone as their currency.

Standardized and certified coinage began from 7th century BCE, in the kingdom of Lydia (in present-day Turkey). They were made of a mixture of gold and silver called electrum. This currency helped the country increase both its internal and external trading systems, and made it one of the richest empires in Asia Minor. When someone says, "as rich as Croesus", they are talking about the last Lydian king who minted the first gold coin.

Around 6th century BCE, leather and animal hide was fashioned into currency. Early ancient Romans are supposed to have used this type of money. The Chinese emperor Wudi, who reigned from 142 to 87 BCE made currency out of the skins of white stags that were in his personal collection.

Paper money is believed to have been originated in China during the Song dynasty. It was fashioned out of the bark from mulberry trees. Copper coins had been used in China before that for centuries. The copper coins were circular with a hole in the middle. People used to thread a rope through the holes to string the coins together. If someone was rich enough, the rope was too heavy to carry. So, the coins were left with a trustee who gave a paper receipt that recorded how much had been deposited as copper coins. It took a few more centuries before paper currency fully replaced copper coins, and once it was established, it was only a short leap from paper receipts to paper money.

The transition from metal coins to paper money was possible also because of the availability of proper technology. The movable type press was invented by Bi Shen in the 1040s. This, combined with the existing knowledge of paper making, made paper money a reality. No samples of the earliest paper money exist now unfortunately, but texts from the era describe what they looked like and how they were made. The notes had multiple impressions of three colors: red, black, and blue, and were marked by their value. They were also decorated with iconic emblems and narrative scenes of the era.

In 1661, the first European banknotes were issued in Sweden. It was Sweden’s first bank called Stockholms Banco that issued the first real banknotes in Europe. Even though they were a great success in the beginning, eventually it led to a bank failure. As a result, Johan Palmstruch, the founder of Stockholms Banco who issued the banknotes, was sentenced to death. He got a reprieve later, but remained in jail till 1670. He died the following year.

The First fully printed notes were issued in the United Kingdom around 1853. These notes did not need a signature by the cashier or any such authorization. In 1861, paper money was first introduced in the United States. It was introduced as a means to provide emergency funds for the civil war. From then, the US dollar has gone on to become the world’s foremost reserve currency.

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Certain dates and countries/peoples are associated with certain types of currency in the passage above. Match the two. Write the relevant number against the letter of the alphabet.

A. 1200 BC
B. Native Americans
C. Fijians
D. Yap island
E. Kingdom of Lydia
F. 6th century BC
G. 142-87 BCE
H. China
I. 1853
J. 1661
K. 1861

1. Paper money in the United States
2. First fully printed notes in the United Kingdom
3. Cowrie shells
4. Coins made of electrum
5. Whale teeth
6. Wampum
7. Leather and animal hide
8. Limestone disks
9. Skins of white stags
10. First paper money
11. first European banknotes

Answer Scheme

1) A3
2) B6
3) C5
4) D8
5) E4
6) F7
7) G9
8) H10
9) I2
10) J11
11) K1