Summarize Written Text in PTE: The Effectiveness of Digital Currencies in Global Transactions

The Summarize Written Text section in the PTE Speaking & Writing test evaluates your ability to understand and summarize academic texts succinctly. One of the prevailing topics in today’s discussions is the Effectiveness Of Digital Currencies In Global Transactions. Let’s dive into this topic with a practice exercise, breaking down its various aspects, while introducing a sample task to guide you through.

Summarize Written Text Sample Question 1

Prompt (150-200 words):

Digital currencies are increasingly becoming an essential tool in global transactions due to their borderless nature and ability to bypass traditional banking systems. Cryptocurrencies like Bitcoin, Ether, and stablecoins provide fast, secure, and cost-effective methods for transferring funds across international borders. While traditional banking transactions often involve delays and high fees, digital currencies offer almost instant processing with lower costs. Furthermore, they may help promote financial inclusion by providing access to financial services to billions of people without traditional bank accounts. However, concerns about regulatory frameworks, volatility, and the lack of widespread adoption still pose challenges to the full integration of digital currencies in global finance.

Instructions:
Write one sentence that summarizes the text as accurately as possible. Your response will be judged on the quality of your writing and on how well your response presents the key points in the passage.

Sample Answers & Band Score Analysis

Band 80-90:

Digital currencies provide a faster, cheaper, and more inclusive alternative to traditional banking systems in global transactions, although concerns around regulation, volatility, and adoption remain.

Analysis:

• Content: Fully captures all major aspects of the text.
• Form: The sentence counts within the limit (5-75 words).
• Grammar: Subject-verb agreement and parallelism are correctly applied.
• Vocabulary: Accurate use of academic words (e.g., “alternative,” “inclusion,” “volatility”).
• Spelling: No mistakes.

Band 65-79:

Digital currencies are a fast and cost-effective option for global transactions, but there are concerns about regulation and adoption.

Analysis:

• Content: Covers the main points but lacks details on financial inclusion and volatility.
• Form: Stays within the word limits.
• Grammar: Correct but slightly simplistic.
• Vocabulary: Somewhat less sophisticated, though still appropriate.
• Spelling: No issues.

Band 50-64:

Digital currencies can offer faster and cheaper transactions, but some problems around legal adoption and volatility are present.

Analysis:

• Content: Misses several deeper points like financial inclusion and competing systems (e.g. traditional banking systems).
• Form: Stays within the word count.
• Grammar: Minor punctuation issues but still understandable.
• Vocabulary: Basic word choices make it a bit too general.
• Spelling: Accurate.

Band Below 50:

Digital currencies are fast and cheap, but there are problems with rules.

Analysis:

• Content: Fails to express most essential ideas; extremely simplistic.
• Form: Sentence length is within the limits, but the construction feels incomplete.
• Grammar: Very basic errors and improper sentence structure.
• Vocabulary: Limited; lacks clarity on key terms.
• Spelling: Correct, but insufficient to improve overall quality.

Vocabulary & Grammar from the Passage

Here are some important words used in this text along with their meanings and examples:

1. Borderless /ˈbɔːr.dər.ləs/ (adj.): Without physical or financial boundaries.

   • In digital transactions, the system can be borderless and instantaneous.

2. Bypass /ˈbaɪ.pæs/ (v.): To circumvent or avoid.

   • They used cryptocurrency to bypass the traditional banking system.

3. Volatility /ˌvɒl.əˈtɪl.ɪ.ti/ (n.): The degree of variation in the price or value of an asset.

   • Cryptocurrency volatility can scare away some potential investors.

4. Adoption /əˈdɒp.ʃən/ (n.): The act of accepting and implementing something new.

   • The widespread adoption of digital currencies still faces obstacles.

5. Inclusion /ɪnˈkluː.ʒən/ (n.): The practice of including everyone, addressing accessibility.

   • One of the benefits of digital currencies is their promotion of financial inclusion.

6. Framework /ˈfreɪm.wɜːk/ (n.): A set of rules or guidelines.

   • Governments need to establish a regulatory framework for cryptocurrencies.

7. Cost-effective /ˌkɒst ɪˈfek.tɪv/ (adj.): Providing good value for the money spent.

   • Digital currencies often provide more cost-effective solutions than banks.

8. Regulatory /ˈreg.jə.lə.tər.i/ (adj.): Related to the control of rules or laws.

   • There are still many regulatory hurdles to implementing digital currencies.

9. Traditional /trəˈdɪʃ.ən.əl/ (adj.): Conventional; based on long-established practices.

   • Traditional banks charge high fees for international transfers.

10. Instantaneous /ˌɪn.stənˈteɪ.ni.əs/ (adj.): Happening immediately.

    • Digital currencies offer instantaneous transactions.

Conclusion

The effectiveness of digital currencies in global transactions is a topic increasingly prevalent in both the PTE exam and modern global finance conversations. Practicing tasks like this one will help you strengthen your summarization skills, allowing you to present complex ideas concisely while addressing critical points of a discussion. Keep practicing these types of tasks to improve your performance in the PTE Speaking & Writing sections. Don’t hesitate to leave a comment if you have any questions or need clarification about your preparation!