1st Summer Revision Ch 1-11

Name:

Target

Child Benefit is an example of

• Regular Income
• Irregular Income

Mortgage is an example of

• Fixed Expenditure
• Irregular Expenditure
• Discretionary Expenditure

A Budget is a financial plan that shows

• Expected income
• Expected expenditure
• Expected income and expenditure for a time in the past
• Expected income and expenditure for a time in the future

A transaction is a financial event that is recorded as an entry in an account e.g. wages going in

• True
• False

There are 3 types of Financial Institutions operating in Ireland

• True
• False

Deposit account is a non interest account

• True
• False

Collateral is

• a person who will pay back your loan if you can't
• security for lender if you can't make repayments e.g. deeds of a house

Fee paid for insurance is the

• Premium
• Policy
• Proposal Form