Quiz
Specimen Paper C - Unit 1 – Finance, the Individual and Society (FIS)
Perguntas do quiz (35)
1Who out of the following would not be a UK citizen?
- ADaniel, born in England to English parents
- BDorota, born in Poland and moved to England two years ago
- CEve, born in New Zealand but has passed the 'life in the UK' test
- DKatie, born in Bermuda to Scottish parents
2The government decides how much:
- ABenefit caps are
- BElectricity will cost
- CPeople should save
- DPrivate rents will cost
3Banknotes must not be:
- AEasily counterfeited
- BEasily recognised
- CHard-wearing
- DPortable
4Gross pay is:
- APay after tax.
- BPay before tax
- CPay before tax and National Insurance
- DPay after tax and National Insurance
5Taxes are:
- ACompulsory payments
- BContributory payments
- COptional payments
- DVoluntary payments
6Income tax is an example of a tax which is:
- ADirect and flat rate
- BDirect and variable rate
- CIndirect and flat rate
- DIndirect and variable rate
7An increase in which of the following taxes would impact on the price paid for a new car?
- ACapital gains tax
- BCorporation tax
- CFuel duty
- DValue added tax
8Charities benefit the economy mainly because they:
- AHave volunteers
- BHelp companies with CSR
- CReduce social justice
- DReduce the need for public spending
9Reading and understanding the small print is one aspect of:
- AChoosing financial products wisely
- BKeeping track of personal finances
- CPlanning ahead
- DStaying within a budget
10Adults who do not adequately save for retirement may become dependent on:
- AGovernment benefits
- BIncome tax
- CNational Insurance
- DPremium Bonds
11Inflation measures the increase in:
- AExchange rates
- BInterest rates.
- CThe prices of goods and services
- DThe rates of taxation
12If the savings rate is 4% and the inflation rate 2%, by how much will money grow in real terms?
- A0%
- B2%
- C4%
- D6%
13The interest charged on overdrafts is known as the:
- AAER
- BAPR
- CEAR
- DISA
14Interest rewards:
- ABorrowers
- BEmployees
- CEmployers
- DSavers
15If a customer receives a real return of 5% and inflation is running at 3%, what nominal return have they received?
- A2%
- B3%
- C5%
- D8%
16Which of the following has the government put forward as a potential solution to the issue of funding the retirements of an ageing population?
- AIncreasing the retirement age
- BLower levels of immigration
- CLower taxes
- DReducing the retirement age
17If the exchange rate is 1 GBP = 1.21 euros, how many euros can you get for £150?
- A80.70
- B123.97
- C150.00
- D181.50
18If the pound sterling has been weakening against the dollar, then when Kim visits New York next week she will:
- AFind it harder to find a company willing to exchange her pounds for dollars
- BGet fewer dollars for her pound sterling
- CGet more dollars for her pound sterling
- DGet the same number of dollars for her pound sterling
19A 12-year-old will generally be most interested in the:
- ACost of their mobile phone contract
- BInterest rate on their savings
- CMinimum wage for apprentices
- DMoney they might get on their birthday
20Someone in retirement is less likely to take financial risks than a young adult because they:
- AHave fewer options to earn back any losses
- BHave greater outgoings than younger people
- CHave more financial responsibilities than younger people
- DTend to have more debt than younger people
21Case Study 1
Nic is aged 16 and has just started working towards his A levels. His favourite subject is business studies; in this week’s lessons he has been learning about the different types of economies that exist in the world today. He takes good care of the money he receives and is currently saving up for driving lessons so that he can start taking them as soon as he turns 17.
Nic earns £30 a week from a part-time weekend job washing dishes in a local café. His parents give him an allowance of £40 a month. He recently inherited £500 after the death of his aunt, and he has a £20 note left over from the money he received for his birthday.
Question:
The £20 note Nic received was manufactured by:- ABitcoin
- BDe La Rue
- CThe Bank of England
- DThe Royal Mint
22Case Study 1
Nic is aged 16 and has just started working towards his A levels. His favourite subject is business studies; in this week’s lessons he has been learning about the different types of economies that exist in the world today. He takes good care of the money he receives and is currently saving up for driving lessons so that he can start taking them as soon as he turns 17.
Nic earns £30 a week from a part-time weekend job washing dishes in a local café. His parents give him an allowance of £40 a month. He recently inherited £500 after the death of his aunt, and he has a £20 note left over from the money he received for his birthday.
Question:
Which of the following is a source of earned income for Nic? His:- AAllowance
- BBirthday present
- CInheritance
- DPart-time wages
23Case Study 1
Nic is aged 16 and has just started working towards his A levels. His favourite subject is business studies; in this week’s lessons he has been learning about the different types of economies that exist in the world today. He takes good care of the money he receives and is currently saving up for driving lessons so that he can start taking them as soon as he turns 17.
Nic earns £30 a week from a part-time weekend job washing dishes in a local café. His parents give him an allowance of £40 a month. He recently inherited £500 after the death of his aunt, and he has a £20 note left over from the money he received for his birthday.
Question:
During Nic's business studies course he has learned that the UK is a:- ACommand economy
- BCommunist economy
- CFree market economy
- DMixed economy
24Case Study 2
Saira earns £250,000 working for a very profitable private firm of bankers. She has three children. Her son Bryn, aged 20, who works in a second-hand bookshop, has just been given his first car. The other children both attend private school and the fees total £30,000 a year.
Saira has a large mortgage and spends a great deal each month to maintain the lifestyle she and her children have come to enjoy. She is concerned that high earners will be asked to pay more tax if there is a change of government at the next election and that this will impact on her ability to afford her lifestyle.
Question:
What tax does Saira's employer pay on the profits it makes?- ACapital gains tax
- BCorporation tax
- CIncome tax
- DInheritance tax
25Case Study 2
Saira earns £250,000 working for a very profitable private firm of bankers. She has three children. Her son Bryn, aged 20, who works in a second-hand bookshop, has just been given his first car. The other children both attend private school and the fees total £30,000 a year.
Saira has a large mortgage and spends a great deal each month to maintain the lifestyle she and her children have come to enjoy. She is concerned that high earners will be asked to pay more tax if there is a change of government at the next election and that this will impact on her ability to afford her lifestyle.
Question:
What tax will Bryn have to start paying now he is a car owner?- ACapital gains tax
- BCorporation tax
- CRoad tax
- DValue added tax
26Case Study 2
Saira earns £250,000 working for a very profitable private firm of bankers. She has three children. Her son Bryn, aged 20, who works in a second-hand bookshop, has just been given his first car. The other children both attend private school and the fees total £30,000 a year.
Saira has a large mortgage and spends a great deal each month to maintain the lifestyle she and her children have come to enjoy. She is concerned that high earners will be asked to pay more tax if there is a change of government at the next election and that this will impact on her ability to afford her lifestyle.
Question:
Which of the following changes in tax bands would Saira be most concerned about?- AAdditional rate
- BBasic rate
- CHigher rate
- DPersonal allowance
27Case Study 3
Dillon has just started his first year at university. He is studying politics at Swansea. Dillon has been brought up to be careful with his money.
Because his parents are low earners, Dillon receives a maintenance grant worth around £5,000 a year. He feels that these measures made it possible for him to attend university, and he is the first in his family to do so. He wants to make his parents proud and so is currently working hard on his first assignment, which is to research the history of democratic rule.
Question:
As Dillon finds out in his research, democratic rule means rule by the:- AGovernment
- BParliament
- CPeople
- DQueen
28Case Study 3
Dillon has just started his first year at university. He is studying politics at Swansea. Dillon has been brought up to be careful with his money.
Because his parents are low earners, Dillon receives a maintenance grant worth around £5,000 a year. He feels that these measures made it possible for him to attend university, and he is the first in his family to do so. He wants to make his parents proud and so is currently working hard on his first assignment, which is to research the history of democratic rule.
Question:
Dillon also learns that Wales is responsible for setting its own policies in which of the following areas?- ABenefits
- BEducation
- CEmployment
- DTax
29Case Study 3
Dillon has just started his first year at university. He is studying politics at Swansea. Dillon has been brought up to be careful with his money.
Because his parents are low earners, Dillon receives a maintenance grant worth around £5,000 a year. He feels that these measures made it possible for him to attend university, and he is the first in his family to do so. He wants to make his parents proud and so is currently working hard on his first assignment, which is to research the history of democratic rule.
Question:
The decisions Dillon makes about his finances are most influenced by:- AHis family
- BHis student friends
- CThe Government
- DThe media
30Case Study 4
Dean has a variable rate mortgage. Although he has managed to keep up with his monthly repayments, he is concerned about how he will manage this if interest rates rise in the near future. In addition to his mortgage, Dean has a fixed-rate personal loan and an outstanding balance on his credit card and store card. He is managing to keep up his repayments, but this leaves him with no money left over at the end of the month to set aside for emergencies or to meet any other financial needs.
Question:
Because of Dean's high levels of debt he has less money for his wants and needs. This is due to him having less:- ADisposable Income
- BGross Income
- CNet Income
- DTaxable Income
31Case Study 4
Dean has a variable rate mortgage. Although he has managed to keep up with his monthly repayments, he is concerned about how he will manage this if interest rates rise in the near future. In addition to his mortgage, Dean has a fixed-rate personal loan and an outstanding balance on his credit card and store card. He is managing to keep up his repayments, but this leaves him with no money left over at the end of the month to set aside for emergencies or to meet any other financial needs.
Question:
Which one of Dean's borrowing products will not become more expensive in the event of an interest rate rise? His:- ACredit card
- BMortgage
- CPersonal Loan
- DStore card
32Case Study 4
Dean has a variable rate mortgage. Although he has managed to keep up with his monthly repayments, he is concerned about how he will manage this if interest rates rise in the near future. In addition to his mortgage, Dean has a fixed-rate personal loan and an outstanding balance on his credit card and store card. He is managing to keep up his repayments, but this leaves him with no money left over at the end of the month to set aside for emergencies or to meet any other financial needs.
Question:
Which of the following facts about inflation is true for Dean?- AChanges in the rate of inflation will increase his monthly repayments
- BChanges in the rate of inflation will reduce his monthly repayments
- CHigh inflation increases the value of his debts in real terms
- DHigh inflation reduces the value of his debts in real terms
33Case Study 5
Devlin has been employed in the ‘third sector’ for five years now, travelling up and down the UK training volunteers to fundraise. He has done so well that he has won the organisation’s top prize at its annual awards ceremony. The prize is a return flight to the Indian capital of New Delhi to see how the funds raised by the organisation are put to use. Devlin has to pay for the rest of his expenses and, as he already has very little in the way of disposable income, he has chosen to stay in the only hotel he could afford from the recommended list.
Question:
Devlin describes himself as working in the 'third sector'. This means that he is working for a:- ACharity
- BNationalised Industry
- CPrivate company
- DPublic company
34Case Study 5
Devlin has been employed in the ‘third sector’ for five years now, travelling up and down the UK training volunteers to fundraise. He has done so well that he has won the organisation’s top prize at its annual awards ceremony. The prize is a return flight to the Indian capital of New Delhi to see how the funds raised by the organisation are put to use. Devlin has to pay for the rest of his expenses and, as he already has very little in the way of disposable income, he has chosen to stay in the only hotel he could afford from the recommended list.
Question:
Devlin's choice of hotel is an example of him:- AChoosing a want over a need
- BKeeping track of personal finance
- CPlanning ahead
- DStaying within a budget
35Case Study 5
Devlin has been employed in the ‘third sector’ for five years now, travelling up and down the UK training volunteers to fundraise. He has done so well that he has won the organisation’s top prize at its annual awards ceremony. The prize is a return flight to the Indian capital of New Delhi to see how the funds raised by the organisation are put to use. Devlin has to pay for the rest of his expenses and, as he already has very little in the way of disposable income, he has chosen to stay in the only hotel he could afford from the recommended list.
Question:
If the pound sterling strengthens against the Indian rupee then:- ADevlin will be able to buy fewer rupees for his pound sterling
- BDevlin will be able to buy more rupees for his pound sterling
- CFewer people will buy imports from India
- DThe funds raised will go further when converted into rupees
Informações
- Descrição
- Level 2 PERSONAL FINANCE (CeFF) Quiz sobre Specimen Paper C - Unit 1 – Finance, the Individual and Society (FIS), criado por Carina Storm em 02-12-2018.
- Autor
- Carina Storm
- Idioma
- English
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