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WorksheetsHomework 4 - Methods of payment
Total questions: 10
Worksheet time: 14mins
Which method of payment matches this description:
When you make a payment, the money is taken directly out of your account
Direct Debit
Hire Purchase
Credit Card
Debit Card
None of these
Which method of payment matches this description:
When you make a payment the amount of money gets added to your total borrowings and you pay it back later
Direct Debit
Hire Purchase
Credit Card
Debit Card
None of these
Which method of payment matches this description:
You give an instruction to your bank to release money to pay bills regularly from your account
Direct Debit
Hire Purchase
Credit Card
Debit Card
None of these
Which method of payment matches this description:
You sign an agreement to pay for something over a period of time, paying regular monthly payments where you will own the product outright at the end
Direct Debit
Hire Purchase
Credit Card
Debit Card
None of these
Which method of payment would we use in the following scenario: Lisa would like to purchase a new flat. she has a deposit of £20,000 however she cannot afford the whole amount now.
Hire Purchase
Credit Card
Overdraft
Bank Loan
Mortgage
Which method of payment would we use in the following scenario: Jamie's Kitchen requires to buy a new fridge, however he doesn't have enough funds in his bank account.
Hire Purchase
Credit Card
Overdraft
Bank Loan
Mortgage
Which method of payment would we use in the following scenario: Rachel owes her mobile phone company £40 tomorrow as per her agreement, however she only has £10 in her bank account and doesn't get paid for 3 days.
Hire Purchase
Credit Card
Overdraft
Bank Loan
Mortgage
Which method of payment would we use in the following scenario: Sahil has £2,000 in his bank account and has decided to buy a new football strip for his favourite team for £75 with his name on the back.
Debit Card
Credit Card
Overdraft
Bank Loan
Mortgage
Which of these is NOT a method of borrowing?
Credit card
Debit Card
Bank Loan
Hire Purchase
Mortgage
Which of the following is a risk of taking out a mortgage?
You could be sold into slavery
You could have to leave your job
You could need to get a haircut
You could have your house repossessed if you don't keep up with payments
