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year 9 finance keywords Flashcards | StudBud
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year 9 finance keywords
year 9 finance keywords
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Answers
1
what is a mortgage?
a low interest long term loan
a loan taken out to buy a house , with the house as security
a way to rent a house over a long period
a way to own more than one house
2
what are dividends?
interest paid on loans
bonus money paid out to shareholders based upon profits
fees paid to banks when buying shares
leauges that shares are divided into based upon profits
3
when looking at interest rates, what do the letters A.P.R. stand for?
Actual Pocketed Rate
Actual Perenial Rate
Annual Percentage Rate
Actual Percentage Rate
4
what are shares?
bank owned lottery tickets that give you a chance to win
where you share the risk of loan between many people
where more than one person shares a bank account
investments in a company to make money from its growth
5
what is the stock-market?
a place where animals are bought & sold
a place where shares are bought &sold
a place where loans are bought & sold
a place where soup is bought & sold
6
which of these describes taking money out of your account?
balance
credit
debit
debt
7
if you ever get into problems with money, where can you get free advice?
tjhe citizens advice bureau
your bank
the post office
the debt advice agency
8
do you pay tax on interest you earn on savings?
yes - always
no - never
only if your total income is more than £10,000
if you over 16 and have a job
9
if you borrowed £100 for 24 months at an A.P.R. of 20%, how much would you pay back?
£140
£120
£144
£154
10
How much money can you save in a tax free ISA account every year?
£20,500
no limit
£15,240
£10,320
11
what is a pawnbroker?
money lending in exchange for some of your possessions
someone who sells small fish that come in shells
someone who sells slightly dodgy publications
a type of charity who will lend you money at no cost
12
what is an account balance?
how much money it has a credit or a debt
how much debt it has
how much credit it has
how heavy it is
13
what is a benefit of a credit card?
purchases made are automatically insured
shops dont have to pay the banks anything when you use them
lower interest rates than a loan
its not possible to spend more money that you actually have
14
what is the name of tax free savings account that you could open today?
a PEP
a LOMBARD
an ISA or junior ISA
a PPF
15
is it possible to own a credit card without paying interest?
no
yes
16
what is debt?
the amount of cash you have in your account
the amount of interest you are owed
the amount of cash you have borrowed
taking money account of your account?
17
what is a loan shark?
an unlicensed, unreputable money lender
a bank employee who can sell you a loan quickly
a money lender with big teeth that likes to be on his own
someone who can lend you a big fish
18
what is a direct debit?
another name for using a cash machine
where someone pays interest intio your account
an automatic payment taken out of your bank account
paying money into your account as a cheque
19
if you invested £500 in an ISA with an A.P.R. of 5%, how much would it pay you after year 1?
£5
£25
£10
£20
20
what is interest?
money earnt on savings or paid additionally on loans
a loyaly bonus given by money lenders
money gained from shares
a measure of how valuable money is
