Saving & Loans
Authored by Andy McColl
Business
University
Used 3+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of borrowing allows you to withdraw money from a current account that you do not have?
Mortgage
Overdraft
Hire purchase
Personal loan
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of savings account allows the holder to not be charged income tax on the interest received?
Deposit and savings accounts
Premium bonds
Individual savings accounts (ISA)
Bonds and gilts
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of investment involves the shareholder becoming a part owner of a business?
Shares
Pensions
Bonds and gilts
Premium bonds
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of a credit card?
Accumulation of debt if not managed wisely
It is convenient and readily available
Potential for overspending
High-interest rates
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial institution is responsible for maintaining a healthy level of financial stability for the UK?
Bank of England
Banks
Building societies
Credit unions
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of insurance is a legal requirement for any car on the road?
Travel insurance
Health insurance
Home and contents insurance
Car insurance
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main responsibility of pension companies?
Handling financial transactions and storing money on behalf of members
Investing money paid in contributions to increase its value
Selling policies for pet insurance
Issuing legal tender and controlling the national debt
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