LIBF UNIT 3 TOPIC 2

LIBF UNIT 3 TOPIC 2

12th Grade

10 Qs

quiz-placeholder

Similar activities

Investment Basics Quiz

Investment Basics Quiz

12th Grade

8 Qs

LO5: Day 2 National Insurance, PAYE, and BUsiness Insurance Quiz

LO5: Day 2 National Insurance, PAYE, and BUsiness Insurance Quiz

12th Grade

10 Qs

Personal Finance Lesson 2-2

Personal Finance Lesson 2-2

9th - 12th Grade

7 Qs

Introduction of Finance

Introduction of Finance

12th Grade

10 Qs

Finance Quiz 1

Finance Quiz 1

12th Grade

10 Qs

State Pension Quiz

State Pension Quiz

3rd Grade - University

12 Qs

Investing for Retirement

Investing for Retirement

10th - 12th Grade

14 Qs

Pay and Tax

Pay and Tax

12th Grade

15 Qs

LIBF UNIT 3 TOPIC 2

LIBF UNIT 3 TOPIC 2

Assessment

Quiz

Business

12th Grade

Hard

Created by

A Smith

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Attendance Allowance payable for?

To anyone over 16 who spends 35 hours per week caring for someone

To those over state pension age with a long-term illness or disability

To parents or other people responsible for bringing up a child

To people in low-paid work to help with child-rearing costs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Benefits cap limit?

The total amount of benefits for working-age people

The number of hours a person can work while receiving benefits

The age at which a person can start receiving benefits

The number of children a family can claim benefits for

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the Consumer Prices Index (CPI)?

To measure the total amount of benefits a person can receive

To calculate the price of a representative sample of goods monthly

To determine the eligibility for unemployment benefits

To assess the number of years people are expected to live

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Gross Domestic Product (GDP)?

The total amount of benefits a country provides

The value of all goods and services produced within a country over a year

The number of years people are expected to live

The amount of money paid to parents for child-rearing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is means testing?

A process to determine the total amount of benefits a person can receive

A reduction of benefits if household income is above a certain level

A method to calculate the price of goods on a monthly basis

A benefit for those over state pension age with limited mobility

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a recession?

A period of at least six months with shrinking goods and services production

A time when benefits are increased for all claimants

A phase where the Consumer Prices Index (CPI) is stable

A period when the government increases taxes to boost the economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the benefit called that people receive from the state once they reach a certain age, provided they have paid or been credited with enough National Insurance contributions?

Statutory Maternity Pay

State Pension

Universal Credit

Working Tax Credit

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?