All Topics Flashcards
(56 cards)
In 2008, personal debt in the UK hit a peak of
1,400 billion
Financial providers should encourage individuals to
use a budget to plan their spending
Financial services providers should support an individual’s sustainability by encouraging them to
open a savings account.
Financial services providers should support an individual’s sustainability, in relation to the use of credit cards, by advising them to pay off:
the entire balance each month, if possible.
To be eligible for a contributions-based Jobseeker’s Allowance, an individual can only work on average a maximum of how many hours per week?
16 hours
What is the minimum number of days that an employee must be off sick before the employer has to pay Statutory Sick Pay?
4 days
Some benefits are paid to people who are working full-time, but this will depend on their level of income. These benefits are:
means tested
Car insurance companies are contributing to helping the environment by offering lower premiums to:
fuel efficient car
If the Consumer Prices Index (CPI) fell from 5% to 1% now, this means that prices overall
are increasing by 1%
Which of the following ways of presenting data is most suitable to be able to easily see trends at a glance?
graph
If the rate of inflation in the UK fell from 3% to 1% per annum, which of the following would be
happening?
The general level of prices would be rising by 1% per annum
Which of the following is the first step involved in drawing up a budget?
Identifying and listing all sources of income
To be eligible for an income-based Jobseeker’s Allowance, an individual (and a partner, if there is
one), can only have a maximum of:
£16,000 in savings
which type of expenditure would a council tax payment be classed as?
mandatory
what is the new state benefit that replaced the six existing benefits with a single monthly payment for those living on a low income?
Universal Credit
why is the interest rate on a personal loan usually higher than the interest rate on a mortgage?
personal loans are unsecured and mortgage borrowing is secured
what does envelope budgeting include?
dividing income into seperate pots
in PESTLE analysis, changes to interest rates, inflation and exchange rates are all type of what factor?
Economic
which national charity ‘helps people across the uk to tackle their debts and manage their money wisely’?
The Money Advice Trust
what is an example of a government monetary policy
decreasing interest rates
jan is only able to work a couple hours each day as she is her mothers full-time carer. Jan is most likely entitled to what?
income support
When drawing up a budget, which of the following is most likely to be categorized as mandatory
expenditure?
-Mobile phone contract payments
-Mortgage instalments
-National Insurance contributions.
-Personal loan repayments.
National insurance contributions
A flexible financial plan is sometimes called a…..
dynamic plan
Hire purchase arrangements are typically offered by
retailers
