Banqer High Wrap Up Quiz

What is interest?

• When the bank takes money

• The price paid for borrowing money

• When you really like something

True or false, all banks have the same interest rate

• True

• False

What do you need to be aware of when getting a credit card?

• Interest rates

• What your friends have

• That you can now shop online

Why might high limits on credit cards be an issue?

• They aren’t an issue

• Higher limit means lower rewards

• People might spend more than they can repay before interest rates apply

True or false, when you sign up to a bank you automatically get a credit card.

• True

• False

What is a mortgage?

• A loan that you use to buy a house

• A loan attached to your credit card

• What you sign when you start renting

What is a landlord NOT responsible for?

• Repairing broken pipes

• Taking out the rubbish

• Fixing the leaking roof

What is a tenant?

• Someone who rents a house

• Someone who owns a house

• A lawyer who looks after mortgages

What is a deficit?

• When you have earned more money than you spend

• When you have spent more money than you have earned

• When you spend the exact right amount of money

What statement is true about CV’s?

• They get you a job

• They stay the same your whole life

• They inform an employer of your experience and skills