CEFS Finance LIBF Unit 1 Topic 1-3

Which of the following is not a feature of money?

• Durable

• Portable

• Homogeneous

• Can be bartered with

A key consideration for savers is that _ can reduce the purchasing power of money over time.

• interest

• inflation

• divisible

• saving

At different stages within the life cycle people have different

• levels of income

• amounts of savings

• different family sizes

• attitude to clothing

Our attitudes towards risk change as we get older because p29

• Our physical fitness changes

• we may get a pet

• we may own a car

• Our partners may change

Which are essential spending

• Gas bill

• New clothes

• Food costs

• Rent

A standing order is good for

• moving money to savings

• paying mortgages

• paying gas bills

• paying for food

Direct debits are useful for paying

• Gas bills

• Electric bills

• Water bills

• Money to savings

Which of these may be features to choose between current accounts

• packages offering travel insurance

• cashback

• rewards such as cinema tickets

• overdraft %

A joint account is

• One that is controlled by 2 or more people

• One that you administer yourself

• Only one person can take money out

• Direct debits can be set up by either person

A notice savings account

• requires you to say in advance that you want to take money out

• you can take money out any time

• gives you a good interest rate because your money is in there for longer

• is offered by most banks