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WorksheetsLiBF unit 2
Total questions: 12
Worksheet time: 6mins
For which of the following can an ATM not be used?
Changing your address
Changing your PIN.
Check your balance.
Printing a statement.
What would a gas company use to take a payment from a customer's bank account each month?
A direct debit.
A standing order.
An automated sweep.
An express transfer.
Which of the following is an advantage of using internet banking to manage your money?
Internet banking enables you to:
get a better credit score.
have access to your account 24 hours a day.
make purchases on the internet
stop debit card payments
Compared to a debit card, a credit card:
cannot be used to make payments
cannot be used to withdraw cash.
is a way of borrowing money.
is linked to a current account.
Which of the following applies only to overdrafts?
AER.
CPI
EAR
RPI
What is the most likely reason for paying for something in advance?
The:
bank needs it.
buyer chooses to pay this way.
credit card company requires it.
seller insists on it.
Which of the following statements about insurance is correct?
All risks are avoided.
The insurance company takes the risk
The insured person has no risk at all.
There is usually no risk.
The money that a person has to pay for insurance cover is known as which of the following?
Assurance.
Dividend.
interest.
Premium.
Legally, people are allowed to insure their spouse against death. This is due to the legal principle of:
agency.
indemnity.
insurable interest.
utmost good faith.
Which of the following is not an example of an expenditure?
Interest on savings
Mobile phone bill.
Rent paid.
Road tax.
In respect of financial services, what kind of help is someone most likely to provide, if they work at a Citizens Advice bureau?
Billing queries
Dealing with complaints.
Debt counselling.
Investment advice.
The interest rate on the mortgage does not change over the life of the loan.
This means that the interest rate is a:
fixed APR.
fixed EAR.
variable APR.
variable EAR.
