Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Finance Revision Mega Quiz!

Total questions: 50

Worksheet time: 39mins

Name
Class
Date
1.

SECTION 1: PERSONAL FINANCE

Which of these is a benefit of an overdraft?

a)
Higher interest rates on loans.
b)
Limited access to credit cards.
c)
Access to additional funds when needed.
d)
Mandatory monthly fees for maintenance.
2.

Which of these is a benefit of a personal loan?

a)
Limited repayment flexibility.
b)
High interest rates compared to credit cards.
c)
Quick access to funds for various needs.
d)
Strict eligibility criteria for approval.
3.

Why might an overdraft lead to further debt?

a)

Due to fees, interest, and a cycle of borrowing.

b)

Because an overdraft always ruins your credit score.

c)

Because overdrafts have mandatory high fees.

d)

An overdraft is a personal loan.

4.

Which of these is a disadvantage of a payday loan?

a)

Borrower has to give collateral that is never returned.

b)
High interest rates leading to potential debt cycle.
c)
Low interest rates compared to traditional loans.
d)
Flexible repayment terms that benefit borrowers.
5.

Which of these is NOT one of the four functions of money?

a)

Unit of Account

b)

Exchange for Goods and Services

c)

Store of Value

d)

Leverage of Capital

6.

Put the topics listed into the correct category.

HINT: There are 5 correct topics per category.

Categorize the following

Current Accounts

Pensions

Mortgages

Citizens Advice Bureau

Cash ISA

Profit & Loss

Cash Flow Forecasting

Depreciation

Break Even

Variable Costs

The Jazz Singer

Almost Famous

Bohemian Rhapsody

Rocket Man

Sing

Starfield

Need for Speed

EA Sports FC

Stardew Valley

Two Point Hospital

Personal Finance
Business Finance
Films about Music
Console Games
7.

Which of these is the correct definition of peer-to-peer lending?

a)
Peer-to-peer lending is a government program for small businesses.
b)
Peer-to-peer lending involves borrowing from a financial institution only.
c)
Peer-to-peer lending is a method of borrowing and lending money directly between individuals without intermediaries.
d)
Peer-to-peer lending is a type of bank loan with high interest rates.
8.

Which of these events would NOT be covered by travel insurance?

a)
Trip cancellations due to illness
b)
Lost luggage during travel
c)
Emergency medical evacuation
d)
Pre-existing medical conditions
9.

When taking out a personal​ (a)   consumers should check the​ (b)   rate and the repayment​ (c)   before signing the loan​ (d)  

Choose from the below words
loan
interest
terms
agreement.
holiday
capital
mortgage
critical
10.

Which is the correct definition of The Bank of England?

a)
The Bank of England is the central bank of the United Kingdom.
b)
The Bank of England is responsible for issuing currency in the United States.
c)
The Bank of England is the central bank of the European Union.
d)
The Bank of England is a private commercial bank.
11.

Which of these is NOT a source of starting and/or paying into a pension?

a)

State Pension

b)

Private Pension

c)

Workplace Pension

d)

Variable Interest Pension

12.

What happens to the price of goods and services when inflation rises?

a)
The price of goods and services generally increases when inflation rises.
b)
The price of goods and services remains constant when inflation rises.
c)
Inflation has no effect on the price of goods and services.
d)
The price of goods and services decreases when inflation rises.
13.

Which of these financial services does a Post Office NOT offer?

a)
Savings accounts
b)
Investment banking services
c)
Personal loans
d)
Insurance services
14.

Which of these personal loan providers generally has the highest interest rate?

a)
Credit unions
b)
Payday lenders
c)
Traditional banks
d)
Online lenders
15.

What is 20% of 120?

16.

What is 120% of 24? :)

17.

Which of these things would NOT be in a personal budget?

a)
Company profits
b)
Monthly rent
c)
Groceries
d)
Utilities
18.

The Citizen's Advice Bureau is...

a)
A non-profit organization focused on financial investments.
b)
A network of independent charities providing free advice.
c)
A private company offering paid consultations.
d)
A government agency providing legal advice.
19.

How might getting older most likely affect your attitude towards spending?

a)
Aging leads to a carefree attitude towards financial decisions.
b)
Older individuals tend to spend more on luxury items.
c)
Getting older makes you more impulsive with spending.
d)
Getting older typically leads to a more cautious and value-driven attitude towards spending.
20.

What is the difference between interest on savings and the interest on borrowing?

a)

Interest on savings is paid to the account holder, while interest on borrowing is paid to the loan provider.

b)

Interest on savings is paid to the savings provider, while interest on borrowing is earned by the account holder.

c)

Both interest on savings and borrowing are paid to the account holder, but different amounts.

d)

There is no difference.

21.

Which definition of "contactless payment" is correct?

a)

A transaction that uses online payment, like a website.

b)
A payment method that uses cash only for transactions.
c)
A payment method that allows transactions without physical contact, using NFC technology.
d)
A payment method that involves entering a PIN for every transaction.
22.

Which of these is a potential DISADVANTAGE of contactless payment?

a)
Faster transaction speeds compared to cash payments.
b)
Increased security features with biometric authentication.
c)
Wider acceptance at various merchants and locations.
d)
Unauthorized transactions due to loss or theft of the payment card.
23.

Receiving payment by cheque is usually the​ (a)   method of payment. However, some ​ (b)   now allow their ​ (c)   to pay in cheques via their ​ (d)   which speeds up the process.

Choose from the below words
slowest
banks and building societies
customers
mobile app
fastest
shops 
investors
postbox
24.

Match the percentage to the correct fraction.

a)

20%

1.

1/5

b)

25%

2.

1/4

c)

50%

3.

1/2

d)

66.6%*

4.

2/3

e)

90%

5.

9/10

25.

What is a savings bond?

a)
A savings bond is a loan given to private companies.
b)
A savings bond is a government-issued debt security that pays interest.
c)
A savings bond is a form of cryptocurrency investment.
d)
A savings bond is a type of stock that pays dividends.
26.

SECTION 2: BUSINESS FINANCE

What is the correct definition of a fixed asset?

a)
A fixed asset is a long-term tangible asset used in business operations that is not expected to be converted into cash within a year.
b)
A fixed asset is any asset that can be easily converted into cash.
c)
A fixed asset is a type of liability that must be paid off within a year.
d)
A fixed asset is a short-term investment expected to be sold within a year.
27.

Which is the correct definition of a current asset?

a)
An asset that cannot be converted into cash within a year.
b)
An asset that is held for more than five years.
c)
An asset expected to be converted into cash or used up within one year.
d)
An asset that generates revenue but is not liquid.
28.

Move the topics to their correct categories. There are five topics in each.

Categorize the following

Vehicle

Building

Machinery

PC's and Laptops

Office Furniture

Stock/Inventory

Cash

Gift Cards

Debtors

Tarzan

Beauty & the Beast

Up

Dumbo

Toy Story

Homberg

Bowler

Top

Fedora

Sombrero

Fixed Asset
Current Asset
Disney/Pixar
Types of Hat
29.

Which is the correct definition of a fixed cost?

a)
A fixed cost varies with production levels.
b)
A fixed cost is an expense that decreases as sales increase.
c)
A fixed cost is an expense that only occurs during peak production periods.
d)
A fixed cost is an expense that remains constant regardless of the level of production or sales.
30.

Which is the correct definition of a variable cost?

a)
A variable cost is a cost that remains constant regardless of production levels.
b)
A variable cost is a fixed expense that does not change with output.
c)
A variable cost is an expense that is incurred only once a year.
d)
A variable cost is a cost that varies with the level of output.
31.

Which of these is NOT a fixed cost?

a)
Rent expenses
b)
Salaries of permanent staff
c)
Insurance premiums
d)

Raw Materials

32.

Which of these is NOT a variable cost?

a)
Direct materials
b)

Netflix

c)
Labor costs
d)
Sales commissions
33.

A business will generally track its financial performance using three documents. There are called: Income​ (a)   , balance ​ (b)   and ​ (c)   forecast

Choose from the below words
Budget
Orders and Recievables
statement
sheet
cash flow
Albatross
folder
report
34.

Which is the correct difference between gross and net profit?

a)
Gross profit is revenue minus COGS; net profit is revenue minus all expenses.
b)
Gross profit is revenue minus operating expenses; net profit is revenue minus COGS.
c)
Gross profit is calculated after taxes; net profit is before taxes.
d)
Gross profit includes all expenses; net profit is only COGS.
35.

Which of these is an example of an expense relating to Cost of Goods Sold?

a)
Shipping costs for finished goods
b)
Salaries of administrative staff
c)
Utilities for the office space
d)
Cost of raw materials used in production
36.

Label the highlighted sections of the break even graph.

a)Break Even Point
b)Profit
c)Losses
d)(From 30 onwards) Margin of Safety
e)Expenses
f)Fixed Costs
g)Current Stock
h)Taxes
1
2
3
4
1)
2)
3)
4)
37.

Which of these is a limitation of a cash flow forecast?

a)
Inaccuracy due to reliance on estimates and assumptions.
b)
Simplicity in understanding complex financial situations.
c)
Guaranteed predictions of future cash flows.
d)
High accuracy due to detailed historical data.
38.

Which of these is NOT an advantage of basing a business in a city centre?

a)
Enhanced brand visibility
b)
Higher operational costs
c)
Access to a larger customer base
d)
Increased foot traffic
39.

Which TWO of these are the correct types of depreciation?

a)
Amortization depreciation
b)

Declining (or reducing) balance depreciation

c)
Asset revaluation depreciation
d)

Straight-line depreciation

40.

What does depreciation mean?

a)
Depreciation is the increase in the value of an asset over time.
b)
Depreciation refers to the total cost of an asset at the time of purchase.
c)
Depreciation is the process of selling an asset for profit.
d)
Depreciation is the decrease in the value of an asset over time.
41.

Put these business types in order from the LEAST number of employees to the MOST.

a)

Sole Trader

b)

Partnership

c)

Micro Business

d)

Large Business

e)

Corporation

1)
2)
3)
4)
5)
42.

If a business provides a 15% discount on shoes that originally cost £120, what is the new price?

a)
£90
b)
£108
c)
£115
d)
£102
43.

True or False: If a business goes bankrupt, the owner cannot then start another business.

a)
False
b)
The owner can only start a business after a waiting period
c)
True
d)
The owner loses the right to own any business forever
44.

Which of these assets is most likely to depreciate in value?

a)
Vehicles
b)
Gold
c)
Stocks
d)
Real estate
45.

What is capital expenditure?

a)
Capital expenditure is the funds used by a company to acquire or upgrade physical assets.
b)
Capital expenditure refers to the daily operational costs of a business.
c)
Capital expenditure is the money spent on employee salaries and benefits.
d)
Capital expenditure is the funds used for marketing and advertising campaigns.
46.

Which of these is an example of capital expenditure?

a)
Purchasing a new machine for manufacturing.
b)
Investing in stocks for future returns.
c)
Buying office supplies like paper and pens.
d)
Paying rent for office space.
47.

Which of these is NOT a source of finance for a new business?

a)
Crowdfunding
b)
Hobbies
c)
Venture capital
d)
Bank loans
48.

Why legally do businesses need to track their financial information?

a)
To increase profit margins.
b)
To enhance customer satisfaction.
c)
To improve employee productivity.
d)
To comply with tax laws and regulations.
49.

Which is the correct formula for working out the contribution per unit sold?

a)
Contribution per unit = Selling Price / Variable Cost
b)
Contribution per unit = Selling Price - Variable Cost
c)
Contribution per unit = Fixed Cost - Selling Price
d)
Contribution per unit = Selling Price + Variable Cost
50.

The Break Even Point can be calculated using number of units sold and which other measurement?

a)
Selling price per unit
b)
Fixed costs
c)
Total revenue
d)
Cost of goods sold

Similar Resources on Wayground

CMS ASSESSMENT 3.1&3.2

45 questions

CMS ASSESSMENT 3.1&3.2

quiz

Worksheet

•

9th - 12th Grade

Basic Accounting

50 questions

Basic Accounting

quiz

Worksheet

•

10th - 12th Grade

Career Clusters

50 questions

Career Clusters

quiz

Worksheet

•

3rd - 12th Grade

PFL 2nd Semester Exam - 5, 6, 10, 11, 12, 13, 14

50 questions

PFL 2nd Semester Exam - 5, 6, 10, 11, 12, 13, 14

quiz

Worksheet

•

9th - 12th Grade

ESB Cert Practice

52 questions

ESB Cert Practice

quiz

Worksheet

•

9th - 12th Grade

2024 Digital Literacy Spring Exam

50 questions

2024 Digital Literacy Spring Exam

quiz

Worksheet

•

9th - 12th Grade

NGPF TAXES

45 questions

NGPF TAXES

quiz

Worksheet

•

9th - 12th Grade

Sports and Entertainment Marketing

50 questions

Sports and Entertainment Marketing

quiz

Worksheet

•

9th - 12th Grade