LIBF Unit 2 - Paper C

When using their debit card at an ATM, cardholders need to be aware of which of the following?

• All ATM networks charge a fee.

• Some ATM networks charge a fee.

• There are never any charges for using ATMs

• You will only ever be charged for using an ATM abroad.

Which of the following is most likely to be used to make a payment to purchase a house?

• ATM.

• Bacs.

• CHAPS.

• UKPA

When accessing telephone banking, you are most likely to be asked for your:

• address.

• PIN.

• sort code.

• statement.

Which of the following cannot be used to get a list of transactions on your current account?

• ATM.

• Bacs.

• Internet banking.

• Paper statement.

Which of the following is contained within a debit card?

• Cash.

• Chip.

• Password.

• Points.

Typically, borrowing on a credit card is free, as long as the whole amount is paid back within a maximum of how many days?

• 30 - 39 days

• 40 - 49 days

• 50 - 59 days

• 60 - 69 days.

The main purpose of a credit card is to:

• build up credit points in stores.

• collect credits towards loyalty schemes

• enable people to borrow money

• transfer money into a savings account.

Which of the following can be used to get cashback from a till?

• Credit card.

• Debit card

• Pre-paid card

• Store card.

Which of the following is most likely to be a secured loan?

• Credit card.

• Mortgage

• Overdraft.

• Store card

What does 'APR' stand for?

• actual percentage rate.

• annual percentage rate.

• approximate percentage rate

• arranged percentage rate.