LiBF Quiz 2

What is AER?

• annual expectancy

• annual equivalent rate

• annual expectation rate

• annual equal rate

The best way to achieve long term financial goals is to:

• Set SMART goals

• Set up a spending plan

• only shop at discount stores

• buy products only on sale

When should you dig into your emergency fund?

• trip to Hawaii

• buy a car on sale

• shopping spree

• job loss

Interest Rates__________ to the price

• subtracted

• added

• multiplied

• divided

You are purchasing a T.V for £990 T.V with 9% sales tax. What is the final price of the T.V.?

• £ 1881.00

• £ 1079.00

• £ 1,079.10

• £ 1,709.1

What can't you do at a ATM?

• Change your pin

• Withdraw money

• Change your address

• Print off a mini-statement

What would a gas company use to take a payment from a customer's bank account each month?

• Standing Order

• Direct Debit

• An Express Transfer

• An automated sweep.

Internet banking enables you to:

• have access to your account 24 hours a day

• help your credit score

• cancel direct debit

• make purchases online

The rate at which interest is charged on a credit card acount is expressed in terms of its:

• Annual Percentile Reduction
• Animal Population Rescue
• Annual Popsicle Reduction
• Annual Percentage Rate

Which one is considered dangers of credit card

• no cash needed
• lead to over spending