Intro to personal finance - Core Maths

What does VAT stand for?

• Valued after tax

• Vehicle automobile tax

• Visitor abroad tax

• Value added Tax

What is pay called before tax and national insurance is taken out?

• Gross pay

• Full pay

• Total pay

• Wages

A mortgage is a loan to pay for what?

• A holiday

• A car

• A funeral

• A house

Which of the following does NOT appear on a payslip?

• Tax

• Amount you earned

• Date

• Your age

What name is given to the annual overall cost of money borrowed?

• APR

• RNI

• AGM

• ARC

Which of these is a type of credit card?

• Supermarket loyalty card

• Cash Card

• Store card

• Mobile phone top-up card

What is the name of the form that tells you how much you have earned over a year?

• P45

• B52

• C5

• P60

What does ISA stand for?

• Individual savings account

• Instant saving access

• Instant saving allowance

• Interest savings application

Which government agency collects income tax in the UK?

• Her Majesty's Revenue and Customs

• The Treasury

• Department of Work and Pensions

• The Bank of England

What is a Credit Union?

• A bank account shared between a husband and wife

• An organisation that collects money from people who have not paid their debts on time

• A credit card that has a very low rate of interest

• A non-profit organisation that helps members to save and borrow