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Unit 3 SPECIMEN D 1-10

Authored by J Bennington

Business

10th Grade

Used 7+ times

Unit 3 SPECIMEN D 1-10
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following should be a feature of an individual’s financial plan? It should be:

only an estimate of income and expenditure.

over a fixed time period.

realistic.

rigid

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of expenditure would a council tax payment be classed as?

Discretionary

Essential

Mandatory

Optional

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the most suitable product to use when planning to save over a period of years, to build up a deposit for a house purchase?

Bonds

Cash ISA.

Notice savings account.

Premium bonds.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the Bank rate starts to frequently increase, which financial product is most likely to benefit a consumer’s financial sustainability?

Credit card.

Fixed-rate bond.

Fixed-rate mortgage

Variable-rate mortgage.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payday loan lenders are restricted from charging borrowers:

interest.

late fees.

more than twice what they borrowed.

more than what they borrowed.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Carl is 19, lives at home with his parents and is studying full time for his degree. Carl is working as a part-time delivery driver, working ten hours a week. He has recently applied for the new style Jobseeker's Allowance but was told he was not able to claim. What could be the reason for this? Carl:

is not earning enough to pay tax.

is studying full time.

lives at home with his parents.

works ten hours a week.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jakob has been off sick following a car accident and has been claiming Statutory Sick Pay (SSP). He has been told that this will end soon. What could be a possible reason for this?

Jakob is now too old to claim.

SSP does not cover accidents.

SSP is paid for a maximum of 8 weeks.

SSP is paid for a maximum of 28 weeks.

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