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IFS UNIT 2 Topic 1 & 2 Flashcards | StudBud
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IFS UNIT 2 Topic 1 & 2
The main financial planning focus of a young adult will be on:
Which is not a life stage
IFS UNIT 2 Topic 1 & 2
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Questions
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Answers
1
Which is not a life stage
Old age
Late middle age
Childhood
early pension age
2
The main financial planning focus of a young adult will be on:
maximising the income from their savings
paying off their mortgage and saving for retirement
paying their bills and short/medium-term saving for a car
3
An adviser who can only offer products from one company or a limited number of companies is a:
independent financial adviser
a basic financial adviser
a restricted financial adviser
4
There are two parts to attitude to risk. 1.Risk tolerance and the other is?
Job title
Capacity for loss
Gender
5
An independent body set up by the govt that helps people looking for advice with their finances
The Stepchange debt charity
Money Advice Service
Citizen advice bureau
6
Which of the following is deemed to be the least risky investment?
shares
deposits
gilts
7
Advisers generally suggest an emergency fund of between
three and six months’ essential expenditure
six and nine months’ essential expenditure
nine and twelve months’ essential expenditure
8
Shares of which of the following companies would be deemed to be the riskiest? Shares in a:
Small sized Russian company
large UK company
Medium sized US company
9
Inheritance tax is a tax on your estate which is
over £500,000
under £50,000
over £100,000
over £325,000
10
Which is the riskiest investment?
Deposits
Gilts and bonds
Overseas shares
Property
11
Which of the following customers will have the highest car insurance premium?
Ed aged 25, who lives in Birmingham
Emma aged 36, who lives outside Liverpool
Alan aged 59, who lives in the countryside
12
From April 2017 Inheritance tax will not be charged on part of the deceased person's
company shares
car
home
savings
13
risk versus reward' theory is that if you want to make good returns you have to take some risk.
True
False
14
When people die, all their money and possessions are subject to inheritance tax.
True
False
15
Building societies are a relatively new form of organisation
True
False
16
Non-profit-making financial co-operatives run for the benefit of their members are known as:
Credit Unions
Banks
Building societies
17
Which is not a financial provider
investment companies
Banks
Building Societies
Citizen advice Bureau
18
Banks are organisations, which are businesses owned by, and responsible to, shareholders.
True
False
19
Corporate bonds are loans to
Credit unions
Governments
Companies
20
Capacity for loss is
the risk someone is prepared to take to get their objectives
the feelings you have about the value of your savings
the money you can afford to lose when achieving objectives
