DIPFS Unit 3 topics 1 and 2 Finance LIBF

Which of the following would count as mandatory expenditure?

• Income tax

• National Insurance

• Council tax

• Phone Insurance

Contingency planning may help in the following events

• Losing your job

• Increase in mortgage % rates

• Winning money on the lottery

• Paying off a personal loan

Which of the following are examples of saving accounts

• Cash ISA

• Notice account

• Government bonds

• Regular saver

Which of these generally have the highest rate of interest

• Payday loan

• Cash ISA

• Overdraft

• Fixed term savings account

Which of these can you NOT get insurance for

• Life

• Death

• Accident

• Critical illness

Which of these is NOT a type of pension

• State

• Occupational

• Stakeholder

• Government bond

There are two types of state benefit. Which one of these describes them

• Occupational, participatory

• Vocational, conversational

• Contributory, non-contributory

• Contribution, inflationary

Statutory sick pay has a maximum claim period of

• 20 weeks

• 24 weeks

• 28 weeks

• 32 weeks

The amount of child benefit is reduced for those earning close to

• £40,000

• £70,000

• £50,000

• £60,000

Which of the following may offer good financial advice

• Citizens Advice Bureau

• the Money Advice Trust

• Friends and family

• Daily Mail Finance