Which of these events would NOT be covered by travel insurance?

Pre-existing medical conditions

Trip cancellations due to illness

Which is the correct definition of The Bank of England?

The Bank of England is the central bank of the United Kingdom.

The Bank of England is responsible for issuing currency in the United States.

The Bank of England is the central bank of the European Union.

The Bank of England is a private commercial bank.

What happens to the price of goods and services when inflation rises?

The price of goods and services generally increases when inflation rises.

The price of goods and services remains constant when inflation rises.

Inflation has no effect on the price of goods and services.

The price of goods and services decreases when inflation rises.

The Citizen's Advice Bureau is...

A network of independent charities providing free advice.

A non-profit organization focused on financial investments.

A private company offering paid consultations.

A government agency providing legal advice.

How might getting older most likely affect your attitude towards spending?

Getting older typically leads to a more cautious and value-driven attitude towards spending.

Aging leads to a carefree attitude towards financial decisions.

Older individuals tend to spend more on luxury items.

Getting older makes you more impulsive with spending.

What is the difference between interest on savings and the interest on borrowing?

Interest on savings is paid to the account holder, while interest on borrowing is paid to the loan provider.

Interest on savings is paid to the savings provider, while interest on borrowing is earned by the account holder.

Both interest on savings and borrowing are paid to the account holder, but different amounts.

Which definition of "contactless payment" is correct?

A payment method that allows transactions without physical contact, using NFC technology.

A transaction that uses online payment, like a website.

A payment method that uses cash only for transactions.

A payment method that involves entering a PIN for every transaction.

Which of these is a potential DISADVANTAGE of contactless payment?

Unauthorized transactions due to loss or theft of the payment card.

Faster transaction speeds compared to cash payments.

Increased security features with biometric authentication.

Wider acceptance at various merchants and locations.

What is a savings bond?

A savings bond is a government-issued debt security that pays interest.

A savings bond is a loan given to private companies.

A savings bond is a form of cryptocurrency investment.

A savings bond is a type of stock that pays dividends.

SECTION 2: BUSINESS FINANCE What is the correct definition of a fixed asset?

A fixed asset is a long-term tangible asset used in business operations that is not expected to be converted into cash within a year.

A fixed asset is any asset that can be easily converted into cash.

A fixed asset is a type of liability that must be paid off within a year.

A fixed asset is a short-term investment expected to be sold within a year.

Which is the correct definition of a current asset?

An asset expected to be converted into cash or used up within one year.

An asset that cannot be converted into cash within a year.

An asset that is held for more than five years.

An asset that generates revenue but is not liquid.

Which is the correct definition of a fixed cost?

A fixed cost is an expense that remains constant regardless of the level of production or sales.

A fixed cost varies with production levels.

A fixed cost is an expense that decreases as sales increase.

A fixed cost is an expense that only occurs during peak production periods.

Which is the correct definition of a variable cost?

A variable cost is a cost that varies with the level of output.

A variable cost is a cost that remains constant regardless of production levels.

A variable cost is a fixed expense that does not change with output.

A variable cost is an expense that is incurred only once a year.

Which is the correct difference between gross and net profit?

Gross profit is revenue minus COGS; net profit is revenue minus all expenses.

Gross profit is revenue minus operating expenses; net profit is revenue minus COGS.

Gross profit is calculated after taxes; net profit is before taxes.

Gross profit includes all expenses; net profit is only COGS.

Which of these is an example of an expense relating to Cost of Goods Sold?

Cost of raw materials used in production

Shipping costs for finished goods

Salaries of administrative staff

Label the highlighted sections of the break even graph.

(From 30 onwards) Margin of Safety

Which of these is a limitation of a cash flow forecast?

Inaccuracy due to reliance on estimates and assumptions.

Simplicity in understanding complex financial situations.

Guaranteed predictions of future cash flows.

High accuracy due to detailed historical data.

Which of these is NOT an advantage of basing a business in a city centre?

Access to a larger customer base

Which TWO of these are the correct types of depreciation?

Declining (or reducing) balance depreciation

What does depreciation mean?

Depreciation is the decrease in the value of an asset over time.

Depreciation is the increase in the value of an asset over time.

Depreciation refers to the total cost of an asset at the time of purchase.

Depreciation is the process of selling an asset for profit.

True or False: If a business goes bankrupt, the owner cannot then start another business.

The owner can only start a business after a waiting period

The owner loses the right to own any business forever

What is capital expenditure?

Capital expenditure is the funds used by a company to acquire or upgrade physical assets.

Capital expenditure refers to the daily operational costs of a business.

Capital expenditure is the money spent on employee salaries and benefits.

Capital expenditure is the funds used for marketing and advertising campaigns.

Which of these is an example of capital expenditure?

Purchasing a new machine for manufacturing.

Investing in stocks for future returns.

Buying office supplies like paper and pens.

Why legally do businesses need to track their financial information?

To comply with tax laws and regulations.

To enhance customer satisfaction.

To improve employee productivity.

Which is the correct formula for working out the contribution per unit sold?

Contribution per unit = Selling Price - Variable Cost

Contribution per unit = Selling Price / Variable Cost

Contribution per unit = Fixed Cost - Selling Price

Contribution per unit = Selling Price + Variable Cost

Finance Revision Mega Quiz!

Authored by Dave Gledhill

Business

11th Grade

Used 5+ times

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50 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

SECTION 1: PERSONAL FINANCE
Which of these is a benefit of an overdraft?

Higher interest rates on loans.

Limited access to credit cards.

Access to additional funds when needed.

Mandatory monthly fees for maintenance.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a benefit of a personal loan?

Limited repayment flexibility.

High interest rates compared to credit cards.

Quick access to funds for various needs.

Strict eligibility criteria for approval.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might an overdraft lead to further debt?

Due to fees, interest, and a cycle of borrowing.

Because an overdraft always ruins your credit score.

Because overdrafts have mandatory high fees.

An overdraft is a personal loan.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a disadvantage of a payday loan?

Borrower has to give collateral that is never returned.

High interest rates leading to potential debt cycle.

Low interest rates compared to traditional loans.

Flexible repayment terms that benefit borrowers.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT one of the four functions of money?

Unit of Account

Exchange for Goods and Services

Store of Value

Leverage of Capital

CATEGORIZE QUESTION

3 mins • 1 pt

Put the topics listed into the correct category.
HINT: There are 5 correct topics per category.

Groups:

(a) Personal Finance

(b) Business Finance

(d) Console Games

Bohemian Rhapsody

Starfield

Citizens Advice Bureau

EA Sports FC

Break Even

Depreciation

Variable Costs

Stardew Valley

The Jazz Singer

Mortgages

Current Accounts

Cash Flow Forecasting

Profit & Loss

Two Point Hospital

Rocket Man

Almost Famous

Pensions

Need for Speed

Sing

Cash ISA

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is the correct definition of peer-to-peer lending?

Peer-to-peer lending is a government program for small businesses.

Peer-to-peer lending involves borrowing from a financial institution only.

Peer-to-peer lending is a method of borrowing and lending money directly between individuals without intermediaries.

Peer-to-peer lending is a type of bank loan with high interest rates.

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Finance Revision Mega Quiz!

SECTION 1: PERSONAL FINANCEWhich of these is a benefit of an overdraft?

Which of these is a benefit of a personal loan?

Why might an overdraft lead to further debt?

Which of these is a disadvantage of a payday loan?

Which of these is NOT one of the four functions of money?

Put the topics listed into the correct category. HINT: There are 5 correct topics per category.

Which of these is the correct definition of peer-to-peer lending?

Which of these events would NOT be covered by travel insurance?

When taking out a personal​ (a) consumers should check the​ (b) rate and the repayment​ (c) before signing the loan​ (d)

Which is the correct definition of The Bank of England?

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Popular Resources on Wayground

Discover more resources for Business

SECTION 1: PERSONAL FINANCE
Which of these is a benefit of an overdraft?

Put the topics listed into the correct category.
HINT: There are 5 correct topics per category.

When taking out a personal (a) consumers should check the (b) rate and the repayment (c) before signing the loan (d)