PSHE - Unit 7 Key Financial Info

What happens to your savings in a bank account when the interest rate increases?

• Your savings decrease

• Your savings stay the same

• Your savings increase

When you borrow money from a bank and they charge you interest, what is this interest rate called?

• Loan rate

• Savings rate

• Annual Percentage Rate (APR)

Who typically pays income tax on their earnings?

• Everyone, regardless of age

• Only adults

• Only those with high incomes

What is the form called that you often have to fill out to report your income and pay taxes?

• Income Checklist

• Tax Return

• Earnings Report

Inflation is best described as:

• A decrease in the prices of goods and services

• An increase in the prices of goods and services

• A tax on income

If the price of a video game console has gone up by 10% in a year, how would you describe this change?

• Deflation

• Stagnation

• Inflation

What special feature do student bank accounts often have?

• Higher interest rates

• Lower interest rates

• No interest rates

Why might a student choose a bank account designed for students?

• Because they can only open it when they're 18

• Because it has lower fees and perks like an overdraft

• Because it offers the highest interest rates

When you buy a share of a company's stock, what do you become?

• An employee of the company

• A shareholder in the company

• A customer of the company

What can happen to the value of your shares in a company?

• They can only go up in value

• They can go up or down in value

• They can only go down in value