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WorksheetsEnd of term test
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
An overdraft is used when
a)
You need cash for small amounts on a short term basis.
b)
You need cash for large amounts on a long term basis.
c)
You need cash for small amounts on a long term basis.
d)
You need cash for large amounts on a short term basis.
2.
A responsible lender is NOT a
a)
Building society
b)
Loan shark
c)
Credit Union
d)
High Street Bank
3.
Which of the following is a building society?
a)
Barclays
b)
Nat West
c)
Lloyds
d)
Nationwide
4.
An overdraft will have less fees if
a)
It is unauthorised
b)
You only go overdrawn for one day
c)
It is authorised in advance
d)
You only go overdrawn for one hour.
5.
A feature of money is NOT
a)
Shiny and new
b)
Portable
c)
Hardwearing
d)
Accepted
6.
Before notes and coins were invented people used a system of exchange called
a)
Swap Shop
b)
Swapzizz
c)
Bartering
d)
Bring and Buy Sales
e)
Pawn brokers
7.
The safest space to store money is
a)
A bank
b)
A safe
c)
Under the floorboards
d)
Under the mattress
8.
A budget helps you
a)
Prioritise spending on wants and needs
b)
Buy things you can’t afford
c)
Buy now pay later
d)
Barter
9.
A pay day loan company charges large rates of interest?
a)
false
b)
true
10.
A garage sale can help
a)
Clear your house Marie Kendo style
b)
Get cash by selling unwanted items to then buy things you do want
c)
Allow to fit a car into your garage.
d)
Find that old car battery.
11.
A will has to be signed by who?
a)
A bank clerk
b)
A solicitor
c)
Two witnesses
d)
An executor
12.
A regular source of income in old age is called
a)
An investment
b)
A pension
c)
An inheritance
d)
A lottery win
13.
Property can bring in income from:
a)
Benefits
b)
Rent
c)
Insurance
d)
Inheritance
14.
All employers have to offer
a)
A bike scheme
b)
An insurance scheme
c)
An investment scheme
d)
A pension scheme
15.
To qualify for government benefits you part time job must be no more than
a)
24 hours
b)
8 hours
c)
16 hours
d)
24 days
16.
A dividend
a)
Is interest on a loan
b)
Is an APR
c)
Is a piece of cake
d)
Share in the company profits
17.
Which insurance is compulsory?
a)
House
b)
Car
c)
Health
d)
Holiday
18.
If you purchase insurance it is called a
a)
Policy
b)
Risk
c)
Premium
d)
Indeminity
19.
The minimum car insurance is called
a)
Third party
b)
Comprehensive
c)
Third party, fire and theft
20.
National insurance contributions (NICs) pay for
a)
Armed forces
b)
State pension
c)
Education
d)
Hosptials
21.
Why do Governments collect taxes?
a)
To pay for private hospitals
b)
To pay for shopping centres
c)
To pay for public services
d)
To pay for holidays
22.
Money that governments collect in taxes is called
a)
Income
b)
Revenue
c)
Earnings
d)
Receipts
23.
A saver would expect how much gross interest on their savings?
a)
0.01
b)
0.1
c)
0.25
d)
0.3
24.
A borrower would expect the following interest charges from a pay day loan company.
a)
0.05
b)
15
c)
0.15
d)
0.5
25.
An account for everyday transactions is a
a)
Mortgage account
b)
Deposit account
c)
Savings account
d)
Current account
26.
When buying on line an example of a hidden cost is
a)
Gift message facility
b)
Tip the staff
c)
Postage and packing
27.
The type of loan to buy a house is called a
a)
Pay Day Loan
b)
Mortgage
c)
Individual Savings Account
28.
You must never share the following
a)
Your full bank account number
b)
Your full address
c)
Your full PIN
d)
Your full SORT code
29.
A secret security question stored on line is usually your
a)
Your phone number
b)
Your date of birth
c)
Mother’s maiden name
d)
Your address
30.
A scam
a)
Sells double glazing
b)
Tries to get money dishonestly
c)
Renews your mobile phone contract
d)
Lies to your best friend
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