Unit 3 Quiz A

Which of the following best describes financial sustainability for individuals?

• Achieving and maintaining a balance between personal income and expenditure.

• Achieving as high an income as possible.

• Satisfying all of an individual’s aspirations.

• Satisfying all of an individual’s needs and wants.

In 2008, personal debt in the UK reached:

• £400m.

• £800m.

• £1.1bn.

• £1.4bn.

Financial providers should encourage individuals to:

• have an emergency fund equal to one month’s expenditure.

• make their financial planning inflexible.

• occasionally review their financial plans.

• use a budget to plan their spending.

Financial services providers should support an individual’s sustainability by encouraging them to:

• arrange an overdraft.

• invest in a unit trust.

• open a notice savings account.

• open a savings account.

Financial services providers should support an individual’s sustainability, in relation to the use of credit cards, by advising them to pay off:

• 50% of the balance each month, if possible.

• 75% of the balance each month, if possible.

• the entire balance each month, if possible.

• the minimum amount required each month, if possible.

To be eligible for the new style Jobseeker's Allowance, an individual can only work on average a maximum of how many hours per week?

• 14 hours.

• 16 hours.

• 18 hours.

• 20 hours.

What is the minimum number of days that an employee must be off sick before the employer has to pay Statutory Sick Pay?

• One day.

• Four days.

• Five days.

• Seven days.

Some benefits are paid to people who are working full-time, but this will depend on their level of income. These benefits are:

• flat rate.

• income rate.

• income tested.

• means tested.

Car insurance companies are contributing to helping the environment by offering lower premiums to:

• fuel-efficient cars.

• older drivers.

• safer drivers.

• smaller engines.

Which of the following is an example of an Islamic home finance arrangement?

• Murabaha.

• Riba.

• Sharia.

• Sukuk.