12jwrig
Quiz por , criado more than 1 year ago

A quick test on your knowledge of business and ifs content

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12jwrig
Criado por 12jwrig quase 9 anos atrás
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Business studies test

Business studies test

Questão 1 de 10

1

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

Selecione uma das seguintes:

  • Deposit account

  • Savings account

  • Current account

  • Share account

Explicação

Questão 2 de 10

1

Saving accounts are primarily offered by building societies.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 3 de 10

1

Tick all the borrowings that are classed as good debt.

Selecione uma ou mais das seguintes:

  • Buy a property

  • Buy a smart phone

  • Buy food

  • Pay for a holiday

Explicação

Questão 4 de 10

1

Preencha os espaços em branco para completar o 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.

Explicação

Questão 5 de 10

1

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

Selecione uma das seguintes:

  • Overdraft

  • Personal Loan

  • Store card

  • Mortgage

Explicação

Questão 6 de 10

1

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

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 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?

Selecione uma das seguintes:

  • Car insurance

  • Council tax

  • Road tax

  • Gym membership

Explicação

Questão 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?

Selecione uma das seguintes:

  • Overdraft

  • Payday loan

  • Personal loan

  • Emergency fund

Explicação

Questão 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:

Selecione uma das seguintes:

  • on his discretionary spending

  • his working hours

  • on his mandatory spending

  • on his loan repayments

Explicação

Questão 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?

Selecione uma das seguintes:

  • Credit card

  • Payday loan

  • Overdraft

  • Personal loan

Explicação

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