Unit 3 MCQ B (practice)

1: The government's annual Budget is:

• A. a forecast of the economic growth it expects to see in the future and what it expects to happen to imports and exports over the same time period
• B. a forecast of the interest rates it expects to see in the future and what it expects to happen to inflation over the same time period
• C. a forecast of the income from taxation it expects to receive in the future and what it expects to spend over the same time period

2: Long-term financial planning would take into account funding for:

• A. next year's holiday
• B. children going to university
• C. monthly bills

3: Housing repossessions fell from 2004-2009.

• A: True
• B: False

4: Which one of these is a characteristic of a flexible financial plan?

• A: Informed
• B: Included
• C: Interest

5; NEST stands for:

• A: New Employment service training
• B: National Employment savings trust
• C: National Employment secure trust

6: The UK National Health Service is in the top 20 countries in the world for expenditure on its services.

• A: True
• B: False

7: The UK's system of benefits payable to people who are temporarily or permanently in need of financial help is designed to be a financial ‘safety net’.

• A: True
• B: False

8: An additional tax charge will be payable by those in receipt of Child Benefit whose earnings exceed:

• A. £30,000 a year
• B. £40,000 a year
• C. £50,000 a year

9: State pension is a non-means tested contributory benefit paid to everyone who has reached state pension age and paid sufficient NIC’s.

• A: True
• B: False

10: One adult on the benefits cap can claim at most per week:

• A: 500
• B: 257
• C: 357