Btec Unit 3 Personal Finance (1)

Btec Unit 3 Personal Finance (1)

12th Grade

30 Qs

quiz-placeholder

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Btec Unit 3 Personal Finance (1)

Btec Unit 3 Personal Finance (1)

Assessment

Quiz

Business

12th Grade

Medium

Created by

Tina Morgan

Used 1K+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a function of money?

Interest rate

Means of exchange

Legal tender

Unit of account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a method of saving or investment?

Premium bonds

Shares

Current account

Gilts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would NOT be taken into account by an insurance company when deciding whether or not to accept an application for a life insurance policy?

Age of applicant last birthday

The occupation held by the applicant

Number of children the applicant has

Whether the applicant is a smoker

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following sources of finance would be MOST suitable for a one-off or infrequent purchase, e.g. a TV or laptop?

Bank loan

Leasing

Hire purchase

Mortgage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A disadvantage of using payday loans as compared to bank loans is:

Payday loans have to be paid back

A payday loan will not be given if you have a poor credit rating

The interest on a payday loan is higher than on a bank loan

A payday loan is only available for 3 months

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do personal attitudes, life stages, culture and external influences affect?

The role of finance

The role of money

The role of a financial advisor

The role of a credit union

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the MOST important reason for an individual to avoid getting into unmanageable debt?

It might affect their credit rating

They will not be able to socialise

It might lead to arguments with loved ones

It might mean they have to sell assets to pay bills

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