Learning English Steps 1-2-3 Lesson 1 - The Verb "Be" Exercise 1 Directions: Write the correct form of the verb "be" ("am", "is", "are"). New York City is a large city in the United States of America. It is an important city for business and finance. Wall Street is in New York City. It is the center for American finance. The New York Stork Exchange and the American Stock Exchange are there.