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Money Management Flashcards | StudBud
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Money Management
Money Management
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Questions
12
Answers
1
What is APR: Annual Percentage Rate?
The rate that the banks pay you on your savings
The rate that banks etc charge you when you borrow money
2
What is a standing order?
Fixed amount that the account holder agrees to pay for bills
A cheque payment
An agreed amount between the account holder and a company
3
What is a credit card?
Used to take out cash or pay for goods straightaway
A card with your money on it
Can make purchases on a card - a loan you have to pay back
4
Where else might you obtain money to fund your living expenses?
Student sponsorships and scholarships
All of these
Eligibility for other student grants
Part-time job
5
What is a debit card?
Used to take out cash or pay for goods straightaway
Can make purchases on a card - a loan you have to pay back
A card with your money on it
6
What is a direct debit?
A cheque payment
An agreed amount between the account holder and a company
Fixed amount that the account holder agrees to pay for bills
7
Student, current, internet, post office and savings are all types of?
Hire Purchase
Charges
Accounts
8
What is an overdraft?
The rate banks charge you when you borrow money
Charges incurred on your account
An agreed amount you can borrow from the bank if overdrawn
Extra money you have in your account
9
What does HP stand for?
Hire Price
Hire Purchase
10
Electricity, gas, water and council tax are all costs known as?
Insurance
Utilities
Rent
11
What is AER : Annual Exchange Rate?
The rate banks etc charge you when you borrow money
The rate the bank pays you on your savings
An agreed amount you can borrow if overdrawn
12
What are costs involved in running a home?
Rent
Food and cleaning products
Utilities
All of these
