Finance LIBF DIPFS Unit 3 Topic 1-4

Which of the following is the most expensive loan?

• Mortgage

• Credit cards

• Payday loan

• Personal Loans

Which of the following can affect your ability to repay a loan (pick all that apply)

• Physical disability

• Serious illness

• Redundancy

• Gambling

AER stands for

• Annual Expenses Rate

• Annual Equivalent Request

• Annual Estimated Rate

• Annual Equivalent Rate

A five step cash flow plan should include which of the following (p116) (tick all that apply)

• Identify items of expenditure

• Compile a cash flow chart

• Identify cyclical spending

• Identify sources of income

Grey culture refers to

• The over 40s

• The over 50s

• People in their late middle age and older

• People who have drawn their pension

Which legislation aims to stop criminals from laundering money? (p100)

• Company Law

• Employment Law

• Tax Law

• Proceeds of crime and anti-terrorism legislation

Which three bodies were established in April 2013 to replace other regulators? (p66)

• Consumer Protection Authority

• Prudential Regulation Authority

• Financial Conduct Authority

• Bank of englands Financial Policy Committee

The Citizens Advice Bureau was set up in 1939 to enable volunteers to offer free impartial financial advice

• True

• False

Which of the following benefits were included in Universal Credit, their replacement? p50

• Working Tax Credit

• Maternity Pay

• Education Maintenance Allowance

• Income Support

Which of these are benefits of borrowing?

• You have to regularly pay back out of your wages

• You develop personal financial skills

• You develop risky behaviors that rely on job stability

• You build up a good credit score if you repay on time