Finance unit 2 practices of money management exam revision

the most common form of collective fund in the UK

• Unit trust

• Credit union

• UK trust

• US unit trust

Why is an ASPIRATION different to a goal?

• They are both targets

• They are the same

• aspition= a target and goal=how you are going to get there

• Goal= a target and Aspiration= How you are going to get there.

Clearing House Automated Payment System

• CHAPS

• BACS

• Clearing

• P45

• P60

Paypal is an ————- Payment method

• Paper

• Online

• Bank

• Faster

On a bank statement there is Credit and ——

• P45

• Next years salary

• More credit

• Debit

Building societies are ran by

• Insurance companies

• A business

• Members

• A bank

a Financial advisor working on their own is a ——- financial advisor

• Restricted

• Independent

• Controlled

• Lone

specialist investments are ———-

• High risk low reward

• Low risk high reward

• High risk high reward

• Low risk low reward

short term planning is...

• 0-12 months

• 1-5 years

• 5+years

• 10 years

Medium term planning

• 0-12 months

• 1-5 years

• 5+years

• 10 years