finance unit 1 questions - multiple choice with correct answers 2024
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Course
FINANCE
Institution
FINANCE
1. Purposes of money Money can be ex- changed for goods and services.
2. what does money need to be? Money needs to be accepted by banks, shops and people for it to function.
3. British banknotes have a promise on them to 'pay the bearer on demand the sum of' followed by theamount of money t...
finance unit 1 questions - multiple choice
Study online at https://quizlet.com/_97hzif
1. Purposes of money Money can be
ex- changed for
goods and
services.
2. what does money need to be? Money needs
to be accepted
by banks,
shops and
people for it to
function.
3. British banknotes have a promise on them to 'pay 10. Which of
the bearer on demand the sum of' followed by the
theamount of money the banknote represents. This following
promise is signed by the: is usually a
feature of a
4. All coins and banknotes of a certain denomination sav- ings
need to be homogeneous. True or false? bond?
5. At which of the following stages of the personal
life cycle is a person aged 25 years?
6. The middle age stage of the personal life cycle is
generally described as being 26-40 years old. True
or false?
7. Which of the following is an external factor during
the personal life cycle that will significantly affect
an individual's position?
8. Which of the following is most likely to be affected
by major external influences during the middle- age
to late-middle-age stage of the personal life cycle?
9. The interest rate quoted on a savings account
is indicated by which of the following?
1/
, finance unit 1 questions - multiple choice
Study online at https://quizlet.com/_97hzif
Chief Cashier of the Bank of Eng- land.
TRUE. This means that they need to look and feel
the same.
Mature adult false
Being made re- dundant
Early retirement.
AER
It is for a set period of time.
2/
, finance unit 1 questions - multiple choice
Study online at https://quizlet.com/_97hzif
11. A key feature of an individual savings account the interest is
(ISA) is that: al- ways tax
free.
12. National Savings and Investments (NS&I) savings
products are popular because the money saved 100%
is:
13. Which of the following forms of borrowing guaranteed
requires the amount borrowed to be repaid in full
every month?
Charge card
14. Which of the following is usually a feature of a
per- sonal loan?
15. An unauthorised overdraft is usually a more expen- It is for a fixed
sive form of borrowing than an authorised pe- riod of time
overdraft. True or false?
True
16. Building societies are mutual organisations,
which means that they are owned by their:
Members
17. Demutualisation describes the process of: building
societies
becoming banks
18. Under normal circumstances, the Financial £85,000 per
Services Compensation Scheme (FSCS) protects per- son, per
the savings of an individual up to what maximum provider
amount?
19. The Financial Conduct Authority reports directly to: HM Treasury
20. Which of the following is responsible for ensuring 21. Which of
that all financial services providers conduct their the
business in a way that benefits consumers and following
the market as a whole? best
describes a
3/
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