LIBF UNIT 3 TOPIC 3 (VOL 2)

What is a basic bank account?

• An account with a debit card and overdraft facility

• An account that allows electronic balance storage and payments by direct debit

• An account with high interest rates

• An account for storing cash only

What is a contingency plan?

• A plan to deal with unexpected changes in income or expenditure

• A method of electronic payment

• A type of bank account

• The interest rate set by the Bank of England

What does the term "Demographics" refer to?

• The study of economic growth

• Statistical data relating to population

• The process of devaluation

• The regulation of financial markets

What does "Digital divide" refer to?

• Economic inequality caused by lack of internet technology access

• A type of EU regulation

• The process of financial exclusion

• The calculation of exchange rates

What is "Economic growth"?

• The increase in the market value of goods and services

• A type of financial literacy

• A legislative act of the EU

• The delivery of financial services

What is the purpose of financial regulation?

• To increase the profits of financial institutions

• To govern how financial services providers operate and deal with their customers

• To reduce taxes for financial companies

• To promote international trade

What determines a floating exchange rate?

• Government intervention

• Supply and demand for the currency

• Fixed international agreements

• Central bank policies

What is the General Data Protection Regulation?

• A UK law on financial services

• European Union legislation on data protection

• A global trade agreement

• A tax regulation policy

What is globalization?

• The isolation of economies

• The integration of economies, industries, and cultures worldwide

• The regulation of international trade

• The increase of tariffs on imports

What is information failure?

• When consumers have too much information

• When consumers are not fully informed about a product

• When companies provide excessive information

• When information is irrelevant