LiBF Unit 2 PPE 3

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

• current account.
• deposit account.
• savings account.
• share account.

Savings accounts are mostly offered by:

• building societies.
• insurance companies.
• investment companies.
• mortgage brokers.

A short-term financial plan is normally considered to be anything up to:

• 12 months.
• 24 months.
• 36 months.
• 48 months.

A consequence of failing to budget can be:

• financial pressure points identified.
• important bills remaining unpaid.
• increased levels of savings.
• making the most of your money.

A rise in interest rates would benefit a person with a:

• fixed-rate mortgage.
• fixed-rate savings account.
• variable-rate mortgage.
• variable-rate savings account.

If the pound sterling strengthens against the yen then:

• exports to Japan become more expensive.
• imports from Japan become more expensive.
• interest rates in the UK will fall.
• more tourists will visit the UK from Japan.

Increased consumer spending generally leads to:

• high government borrowing.
• higher levels of employment.
• lower government tax receipts.
• lower personal income.

Which of the following is an electronic payment system specifically used for very high-value payments?

• Bacs.
• CHAPS.
• Faster Payments.
• PayPal.

Value for money is about:

• being able to sway a customer's opinion through advertising.
• getting the best goods for the money available.
• low prices being good value for the customer.
• presenting heavily discounted goods to the customer.

On the majority of goods value added tax (VAT) is charged at:

• 0%.
• 5%.
• 10%.
• 20%.