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CEFE - Unit 2 Topic 1 Flashcards | StudBud

Explore/CEFE - Unit 2 Topic 1

CEFE - Unit 2 Topic 1

12 terms·StudBud Administration·165 plays

Financial planning and money management

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Questions 12

Answers

1
Financial Planning is...
Planning for the long term
All of the above
Making plans to be able to afford to buy luxuries
Making short term budgets
2
A mortgage is...
A medium term loan for a car
A long term loan for property
A medium term loan over £10,000
A short term loan over £5,000
3
Banks are owned by...
Shareholders
Members
Customers
Government
4
Which of the following Insurance policies is the odd one out?
Motor Vehicle Insurance
Life Insurance
Health Insurance
Home and Contents Insurance
5
What do you pay to insurance companies?
Premium
Fees
Cash
None of the above
6
What are unexpected costs?
Costs that you plan for.
Costs that occur out of the blue
Costs that are included in your budget.
Costs that you were aware of.
7
Which of these are unexpected costs?
Boiler Breakdown
Leaking Pipe
All of the above
Car Breakdown
8
Investment companies...
Employ experts to make investmetn decisions
Pool many people's money together for collective investments
All of the above
Invest money for people
9
Money Management involves...
Budgeting
Saving
Investing
Banking
10
A credit card is...
Where money will be borrowed from your savings account
Where money will be taken from your current account
Interest free credit account
Where money is borrowed and must be paid back with interest.
11
Building Societies are owned by...
Government
Investors
Shareholders
Members
12
Current Accounts...
cost money to set up
give a credit card to account holders
pay high interest rates to the account holder
are designed for day to day finances