stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Cefe Unit 1 Mock C Flashcards | StudBud
Explore
/
Cefe Unit 1 Mock C
Taxes are:
Income tax is an example of a tax which is:
Cefe Unit 1 Mock C
35 terms
·
StudBud Administration
·
331 plays
Libf Cefe Unit 1 mock
Flashcards
35 cards
F
Practice quiz
P
Host live
L
Questions
35
Answers
1
Income tax is an example of a tax which is:
direct and flat rate.
indirect and variable rate.
indirect and flat rate.
direct and variable rate.
2
Taxes are:
compulsory payments.
contributory payments.
optional payments.
voluntary payments.
3
Charities benefit the economy mainly because they:
help companies with CSR.
have volunteers.
reduce social justice.
reduce the need for public spending.
4
Who out of the following would
not
be a UK citizen
Daniel, born in England to English parents
Dorota, born in Poland and moved to England two years ago
Katie, born in Bermuda to Scottish parents
Eve, born in New Zealand, passed the 'life in the UK' test
5
Inflation measures the increase in:
interest rates.
the rates of taxation.
exchange rates.
the prices of goods and services.
6
Dean's high levels of debt, he has less money for his wants and needs. This is due having less:
taxable income.
net income.
disposable income.
gross income.
7
Which of the following changes in tax bands would Saira be most concerned about?
Additional rate.
Basic rate.
Higher rate.
Personal allowance.
8
Interest rewards:
savers
borrowers
employers
employees
9
Devlin's choice of hotel is an example of him:
staying within a budget.
planning ahead.
keeping track of personal finance.
choosing a want over a need.
10
Adults who do not adequately save for retirement may become dependent on:
income tax.
government benefits.
Premium Bonds.
National Insurance.
11
Devlin describes himself as working in the 'third sector'. This means that he is working for a:
charity
nationalised industry.
private company.
public company.
12
The decisions Dillon makes about his finances are most influenced by:
the media.
the government.
his student friends.
his family
13
Gross pay is:
pay after tax.
pay after tax and National Insurance.
pay before tax and National Insurance.
pay before tax.
14
Which of the following facts about inflation is true for Dean?
High inflation reduces the value of his debts in real terms
Changes in inflation will reduce his monthly repayments.
Changes in inflation will increase his monthly repayments.
High inflation increases the value of debts in real terms.
15
An increase in which of the following taxes would impact on the price paid for a new car?
Value added tax.
Corporation tax.
Fuel duty.
Capital gains tax.
16
A 12-year-old will generally be most interested in the:
cost of their mobile phone contract.
interest rate on their savings.
minimum wage for apprentices.
money they might get on their birthday.
17
Someone in retirement is less likely to take financial risks than a young adult because they
tend to have more debt than younger people.
have fewer options to earn back any losses
have greater outgoings than younger people.
have more financial responsibilities than younger people.
18
If the savings rate is 4% and the inflation rate 2%, by how much will money grow in real terms?
6%.
0%.
4%.
2%.
19
The interest charged on overdrafts is known as the:
APR.
EAR.
ISA.
AER
20
During Nic's business studies course he has learned that the UK is a:
command economy.
mixed economy.
communist economy.
free market economy.
21
Jim receives a real return of 5% and inflation is running at 3%, what is the nominal return?
3%
8%
2%
5%
22
Banknotes must
not
be:
hard-wearing.
portable.
easily counterfeited.
easily recognised.
23
If the exchange rate is 1 GBP = 1.21 euros, how many euros can you get for £150?
123.97.
181.50.
150.00.
80.70.
24
The government decides how much:
people should save.
electricity will cost.
private rents will cost.
benefit caps are.
25
The £20 note Nic received was manufactured by:
the Bank of England
Bitcoin.
De La Rue.
the Royal Mint.
26
If the pound sterling strengthens against the Indian rupee then:
the funds raised will go further when converted into rupees
Devlin can buy more rupees for his pound sterling.
Devlin can buy fewer rupees for his pound sterling.
fewer people will buy imports from India.
27
What tax does Saira's employer pay on the profits it makes?
Inheritance tax.
Capital gains tax.
Income tax.
Corporation tax.
28
Reading and understanding the small print is one aspect of:
choosing financial products wisely.
keeping track of personal finances.
planning ahead.
staying within a budget.
29
Wales is responsible for setting its own policies in which of the following areas?
Benefits.
Tax
Employment
Education
30
What tax will Bryn have to start paying now he is a car owner?
Capital gains tax.
Value added tax.
Corporation tax.
Road tax
31
As Dillon finds out in his research, democratic rule means rule by the:
queen
people
parliament.
government.
32
If the pound has been weakening against the dollar, when Kim visits New York next week she will
get more dollars for her pound sterling.
get the same number of dollars for her pound sterling.
find it harder to exchange her pounds for dollars.
get fewer dollars for her pound sterling
33
Which borrowing products will not become more expensive in the event of an interest rate rise?
credit card.
personal loan.
store card.
mortgage
34
What is the government's solution to fund the retirements of an ageing population?
Reducing the retirement age.
Lower levels of immigration
Lower taxes.
Increasing the retirement age.
35
Which of the following is a source of earned income for Nic? His:
part-time wages.
allowance.
birthday present.
inheritance.
