Unit 1 - Paper D

Which of the following is the most important characteristic of money?

Its:

• colour.

• design.

• recognisability.

• shape.

Which of the following is most important in giving people confidence that their banknotes will be accepted as payment?

• Design aspects.

• Easy to carry

• Range of denominations.

• Security features.

Which of the following is not legal tender in the UK?

• 20p of 1p coins.

• 50p in 2p coins

• £5 in 10p coins

• £10 in 20p coins

Which of the following is not a type of income?

• Basic salary.

• Bonus pay.

• National Insurance.

• Overtime.

Mark and Sue both work full-time for the same branch of a bank.

Mark and Sue are both:

• casual workers.

• employees.

• employers.

• shift workers.

On a payslip, what do the letters 'NI' stand for?

• National Insurance

• Nationwide Indemnity

• Notary Involvement.

• Notional Interest

What is a 'personal allowance'?

The amount you:

• are allowed to spend each month.

• can earn which will not be taxed

• have to pay as National Insurance

• you can borrow from a bank.

Four friends, who share a house together, open a joint current account so they have more control over their finances.

What is the minimum number of signatures the bank will need to authorise payments from the account?

• One.

• Two.

• Three.

• Four.

Packaged accounts most commonly comprise a range of extras added to which of the following?

• Chequebook.

• Credit card.

• Current account

• Overdraft.

An ATM is suitable for which type of transaction?

• Account transfer.

• Cash withdrawal.

• Online payment.

• Regular payment.