Barclays life skills - money management quiz

Question 1

How can you check how much money you have in your current account?

Accepted Answer

Logging into online banking, Via an ATM/cashpoint, Visiting your bank/building society branch, Via a mobile banking app

Question 2

What does the term Annual Percentage Rate (APR) mean in relation to a credit card?

Accepted Answer

The interest rate you pay for borrowing money

Question 3

Which of the following forms of borrowing do you think has the highest risk associated with it?

Accepted Answer

Loan Shark

Question 4

Which of the following could have a negative impact on your credit rating?

Accepted Answer

Missed payments on a credit card

Question 5

Why is your credit rating important?

Accepted Answer

It lasts for 6 years, It can impact the interest rates lenders set for you, Ratings affect how likely you will be able to get a mortgage, Lenders will consider ratings when deciding on whether to lend you money

Question 6

How much is an annual colour TV license to watch live or recorded TV, or use BBC iPlayer, per year?

Accepted Answer

Between £100-200

Question 7

Which of the following bills should you prioritise (pay first) if you are in financial difficulties?

Accepted Answer

Council tax

Question 8

Which term describes your bank account if the balance drops below £0?

Accepted Answer

Overdraft

Barclays life skills - money management quiz

Questions 8

Barclays life skills - money management quiz

Questions 8