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WorksheetsYEAR 9 SPRING QUIZ
Total questions: 25
Worksheet time: 26mins
What P do most people over the Age of 70 Years old rely as income?
PAYMENT PROTECTION
PENSION
PEDICURE
PROFORMA
Stocks and Shares or owning property would be considered?
DEBTS
INVESTMENTS
SAVINGS
OVERHEADS
Which is the odd one out?
PRIVATE OR PERSONAL PENSION
WORK BASED PENSION
PROGRESSIVE PENSION
STATE PENSION
Most Employees receive a (a) with their wages or monthly (b) . This can be in paper form or sent (c) . It will include things such as (d) hours worked and any (e) such as Tax and National Insurance.
Match the type of pension to the definition given.
"Workers pay a portion of their salary into the scheme and so does their employer. They can then access that money when they retire."
WORK BASED PENSION
"All pensioners are entitled to this type of pension once they meet the age of eligibility. It is type of benefit and does not pay as well as the other types of pension."
STATE PENSION
"Individuals can pay into this scheme as and when they like. The money is invested and grows overtime and when they retire they can access it."
PRIVATE PENSION
What is the primary purpose of a pension plan?
TO ENSURE RETIREMENT INCOME
TO PROVIDE HEALTH INSURANCE
TO FUND VACATIONS
TO OFFER EDUCATION LOANS
Which of the following is not a type of investment?
MUTUAL FUNDS
INSURANCE POLICY
BONDS
STOCKS
Type Insurance policies are very often determined on (a) The (b) is the amount of money the customer pays the insurers to cover them. This is known as a (c) and it is an agreement between the insurance company and the person taking out the insurance. Some insurance policies include an (d) which is the amount of money a customer agrees to pay before the insurance will deal with your claim.question here including an
Which of the following types of insurance is mandatory?
Pet
Car
Travel
Health
What does NIC mean on a payslip?
National Insurance Contribution
National Identity Contribution
National Income Contribution
National Inflation Contribution
Match the Payslip Information to the definition
Amount of money paid before deductions
Gross Pay
Code or number that allows you to work and claim benefits
National Insurance Number
Rate of Tax
Tax Code
Sort Code and Account Code
Bank Details
Most employees are paid via the electronic BACS system. What does BACS stand for?
Bank Authorised Cleaning System
Bank Automated Clearing System
Bank Automatic Credit System
Bank Automated Checking System
Take home pay is better known as..
(a)
Most payslips will include the (a) the (b) is on. Tax, National Insurance and Pension contributions are known as (c) . The top rate of tax is the UK as of 2022 was (d) . People have a (e) meaning that you can earn up to £12,501 before you have to pay tax.
Organize these options into the right categories
Tax
National Insurance Contribution
Pension Contribution
Tax Rebate
Overtime
Bonus
What D is the term used to cover the money taken out from a pay slip such as NI or Income Tax?
(a)
Persuasive Sales Technique
Big Mac
iphone
EA Sports
Fedex
Which is NOT one of the current Income Tax Band rates in the UK?
10%
20%
40%
45%
Gas, Water, Electric are often known as what type of Bill? (Clue: Starts with a U)
(a)
Loans are often taken out when a person does not have the (a) to pay for an item all at once. Loans are normally paid back in (b) but they will often occur a (c) if a payment is late. All loans have (d) charged on them. Loanees need to consider these thing before they pay back the (e)
Which of the following would you NOT expect to see on your pay slip?
AGE
PAYROLL NUMBER
TAX CODE
NATIONAL INSURANCE NUMBER
Which of the following is on your payslip is a income rather than a deduction?
National Insurance
Tax Rebate
Income Tax
Student Loan Repayment
Which of the following would be considered an 'Unexpected Cost'
Council Tax
Electricity bill
Mobile phone bill
A burst tyre
When someone has paid too much in come tax they will be able top claim it back. What do we call this. (Clue, Two Words)
(a)
When does the Tax year start and finish?
May-September
Jan-Dec
April-March
Sept- Aug
