Hi this is Tutor Nick P and this is lesson 229. Today we are going to go over more common abbreviations uses and meanings, Yeah. I've done about four or five
of the meanings, four or five of the videos on this and a lot of students
seem to like it because not everybody really knows what all the meanings are.
So this is another one where are covering ones mostly in the beginning
with the letter F today. All right so let's look at the first one. Well first one is just with the letter F by
itself, standing for Fahrenheit. Fahrenheit is the scale of measuring temperature which is
still most commonly used in the US here. The far majority of the world is on
Celsius but the US. is still on Fahrenheit and most Americans associate with
that and that's how we think the temperature mostly in still Fahrenheit
is that's what we grow up with. In which water freezes at 32 degrees I know it is
a little odd Celsius actually does make a little more sense because it's more
rounded you know, obviously in Celsius it is at zero that's a nice round number and
boiling is that 100, but of course in Fahrenheit boils at 212 degrees. Another
thing to know for a lot of students is the little circle above the number is
always read as degrees. Okay so just in case some students, especially students of
English-as-a-second-language don't know that. Okay. Let's look at the example we
give for this. This past winter we had a number of days which was below zero
degrees Fahrenheit. Okay. All right, let's go right to number
two . FAQ this is more and more common. We often see that many websites or many
places have an FAQ section. So of course it stands for frequently asked questions.
Okay and there's always questions that are kind of confusing to people. So a lot
of people have gotten to learn and recognize FAQ. So I think it was a common
one so you should pay attention to this one. Let's continue here. This
abbreviation refers to a list of questions that tend to be the most
commonly asked questions about a particular topic. Yeah, the the company or
organization will do this so that they won't have to keep repeating these ones.
Now it's possible you still may have some question that's not in the FAQ
section and you still may have to email them and ask them to respond
individually but this probably covers like they say all of the most common
ones that people may have , you know question or have a you know be unsure
about uncertainty about. All right, anyway let's look the first example here. If you
are unsure whether or not to join that website you should check out their FAQ
section. So they're frequently asked questions section. Okay. Good. Let's look at
the next one. FBI. It's probably the most common one everybody should know FBI.
Most Americans of course know that it stands for Federal Bureau of
Investigation. I'm not sure if it's English is your second language
you've probably heard of FBI but not everybody knows that it stands for that.
Federal Bureau of Investigation, remember the word Bureau in English we we got it
from French originally. So any words that have an eau new ending always have that
oh sound to it. So Federal Bureau of Investigation, a government agency that
has authority throughout the entire country. Yeah like your local police or
the city police, you know they they have jurisdictions. They have areas that they
can't go beyond. They go beyond that they don't have their authority anymore but
the FBI has the authority throughout the entire country. Entire country and investigates
crimes which break national laws. Okay. Let's look at example here. Or yeah you can say
well they the FBI is investigating that company. That would be a good example. All right. Let's look at the next
one here. The FDIC. Okay. A lot of people are probably seen this because this of course
this is in banks. Now if asked the average person what
does FDIC stand for ? I don't know if everybody can answer this , but they they
have seen it in the bank. It stands for the Federal
Deposit Insurance Corp. Okay so what is this ? A government agency that claims it
will back any bank accounts in a bank up to a certain amount of money in case a
particular bank will fail. It was originally established to try to avoid
bank runs. You know like you know before the depression happened when a lot of
banks failed. Okay. So you probably do see it in the bank.
Ever since 2012 though I think a lot of people have investigated it . Now before 2008
I think the FDIC was um they they guaranteed up to a hundred thousand
dollars in each Bank in each Bank. So it doesn't matter if you had more than one
account in the same bank that doesn't count. Your accounts in each bank you were covered up
to a hundred thousand dollars and after 2008 because the scare I think they
raised it to two hundred thousand. But like I said later on after 2008 after
they raised it in a lot of people did investigations of it. A lot of them
realize this is not really all that much money in this government department here and they
realized that if we really had a really serious crisis again where a lot of
banks failed. It probably doesn't have enough money to cover it. if one small bank
fails then the FDIC probably could cover it. But even just one huge major
bank might not be able cover it or a number of smaller ones.
I think they estimated that I think you know it has less than 1% of all the
money that's in bank accounts so obviously we ever had any really huge
one. You're probably not going to get your money or definitely not going to get all
your money. Maybe you will get some of your money. I don't know, but if it's only less than
1% of all accounts that's not accounting , you know taking into account
that if there was a crash that would they would be cost and
distributing it and stuff like that. So who knows
what you would end up with if anything.
Okay but anyway it's supposed to avoid bank runs. That's what we've seen in the
old days when people got nervous. I think in the old movie, " What a wonderful life, "
with Jimmy Stewart we would have seen this.. People panicked. Everybody ran to the
bank and said give me my money. You know because they think the bank's going to
collapse and so that's what the FDIC is supposed to protect against. Okay. Anyway,
let's continue here. What is the next one ? All right and of course.
All right. So let's look at the last one. Of course it's FYI . FYI stands for you know, for your
information. Yeah this is this is actually a pretty common one that comes up. So this is the way
it might be used. FYI . How can you deny it ? How can you say
that's not true. He already admitted to doing it. So a lot of times when somebody
is saying something and you you kind of caught them. They maybe, they they don't
understand something or you know just clarify it. You know, this information. You
know, FYI, you know for your information. This has been proven already oh this has
come out already. This is the way we tend to use FYI. And just like we say here
the FDIC is supposed to back up or support any sort of banks. Okay I hope
it's clear. I hope you got it. I hope you can understand it. If you have any question on any of them . Just e-mail me . Okay. Thank you for your time.