WorksheetsLearning aim B
Total questions: 12
Worksheet time: 8mins
This is the UK’s central bank that ensures the financial stability of the UK.
Bank of England
Banks
Building society
Insurance Companies
A member owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.
Bank
Bank of England
Credit Union
Insurance Company
A benefit of pensions is?
Usually need to give notice of withdrawals
Quick way of getting cash
Interest charged is very high
It is a structured way to plan your retirement.
What is a problem of a pay day loan?
Tax benefits
Interest is charged at a very high rate
Structured way to plan for retirement
Poor investment may lead to a poor payout
P (a) loan money to individuals and secure this loan against an asset.
This type of banking is where transactions are carried out face to face. Customers visit.
Mobile
Telephone
Postal
Branch
O (a) or mobile banking can have its problems, it back to be subject to hacking.
Mobile and online banking is very c (a) to use.
A problem with postal banking is that it takes more time.
True
False
Where might you see an automated service?
Branch banking
Online banking
Telephone banking
Postal banking
This body protects savers up to £85,000 if the institution goes bust
Financial Ombudsmen service
Financial conduct authority
Financial Services Compensation Scheme
The financial conduct authority, focuses on three key areas, which are:
Compensation, authorisation and legislation
Authorisation, supervision, enforcement
Supervision, monitoring and authority
Enforcment, compensation and legislation
