12jwrig
Test por , creado hace más de 1 año

A quick test on your knowledge of business and ifs content

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12jwrig
Creado por 12jwrig hace casi 9 años
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Business studies test

Business studies test

Pregunta 1 de 10

1

An account typically used for day to day finances is known as a:

Selecciona una de las siguientes respuestas posibles:

  • Deposit account

  • Savings account

  • Current account

  • Share account

Explicación

Pregunta 2 de 10

1

Saving accounts are primarily offered by building societies.

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 3 de 10

1

Tick all the borrowings that are classed as good debt.

Selecciona una o más de las siguientes respuestas posibles:

  • Buy a property

  • Buy a smart phone

  • Buy food

  • Pay for a holiday

Explicación

Pregunta 4 de 10

1

Rellena los espacios en blanco para completar el texto.

Josie needs to buy a train ticket to London, She decides to purchase a ticket face-to-face to avoid charges. However if she would of decided to purchase the ticket she might have been charged with the hidden cost of delivery.

Johnny, Josie's brother is starting high school and has been given a sum of £150 from his Grandma as a celebration gift. Josie is trying to educate Johnny on Value for money which means getting the goods for the money . On the majority of goods Value added tax (VAT) is charged at she informs johnny of this too.

Explicación

Pregunta 5 de 10

1

Which of the following is the best short term borrowing solution for a person needing to get their car repaired?

Selecciona una de las siguientes respuestas posibles:

  • Overdraft

  • Personal Loan

  • Store card

  • Mortgage

Explicación

Pregunta 6 de 10

1

Excessive borrowing has the greatest negative impact on a solid foundation for economic growth.

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 7 de 10

1

Steve's boiler has broken down. The repair company has been unable to fix the problem and has advised him that he needs to have a new one installed. It has quoted him £2,000. Steve has looked online and found that the majority of companies charge around £2,000. He feels this is a fair price. The repair company has also said that it has an insurance scheme he can join where, if he pays £20 a month, they will come out and sort any problems with the boiler for as long as he remains a member of the scheme. Steve thinks it is a good idea but, as he is already on a tight budget, he is unsure where he can find the extra £20 a month to pay for it. Steve's main expenditure items are his mortgage payments, household bills, car running costs and gym membership.

Which of the following items of expenditure could Steve give up to raise funds to join the boiler insurance scheme?

Selecciona una de las siguientes respuestas posibles:

  • Car insurance

  • Council tax

  • Road tax

  • Gym membership

Explicación

Pregunta 8 de 10

1

Steve's boiler has broken down. The repair company has been unable to fix the problem and has advised him that he needs to have a new one installed. It has quoted him £2,000. Steve has looked online and found that the majority of companies charge around £2,000. He feels this is a fair price. The repair company has also said that it has an insurance scheme he can join where, if he pays £20 a month, they will come out and sort any problems with the boiler for as long as he remains a member of the scheme. Steve thinks it is a good idea but, as he is already on a tight budget, he is unsure where he can find the extra £20 a month to pay for it. Steve's main expenditure items are his mortgage payments, household bills, car running costs and gym membership.

Which of the following would be the ideal solution for paying off Steve's new boiler?

Selecciona una de las siguientes respuestas posibles:

  • Overdraft

  • Payday loan

  • Personal loan

  • Emergency fund

Explicación

Pregunta 9 de 10

1

Steve's boiler has broken down. The repair company has been unable to fix the problem and has advised him that he needs to have a new one installed. It has quoted him £2,000. Steve has looked online and found that the majority of companies charge around £2,000. He feels this is a fair price. The repair company has also said that it has an insurance scheme he can join where, if he pays £20 a month, they will come out and sort any problems with the boiler for as long as he remains a member of the scheme. Steve thinks it is a good idea but, as he is already on a tight budget, he is unsure where he can find the extra £20 a month to pay for it. Steve's main expenditure items are his mortgage payments, household bills, car running costs and gym membership.

If Steve decided to borrow, his best course of action if interest rates rise in the near future will be to cut back:

Selecciona una de las siguientes respuestas posibles:

  • on his discretionary spending

  • his working hours

  • on his mandatory spending

  • on his loan repayments

Explicación

Pregunta 10 de 10

1

Steve's boiler has broken down. The repair company has been unable to fix the problem and has advised him that he needs to have a new one installed. It has quoted him £2,000. Steve has looked online and found that the majority of companies charge around £2,000. He feels this is a fair price. The repair company has also said that it has an insurance scheme he can join where, if he pays £20 a month, they will come out and sort any problems with the boiler for as long as he remains a member of the scheme. Steve thinks it is a good idea but, as he is already on a tight budget, he is unsure where he can find the extra £20 a month to pay for it. Steve's main expenditure items are his mortgage payments, household bills, car running costs and gym membership.

If Steve decided to borrow to fund his boiler purchase, which of the following products would take the most out of his monthly budget?

Selecciona una de las siguientes respuestas posibles:

  • Credit card

  • Payday loan

  • Overdraft

  • Personal loan

Explicación

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