LIBF CeFS Unit 2 Topic 7 - Dealing with Unforeseen Events

Which of the following is an independent organisation that maintains records of people’s credit history.

University tuition fees are currently (2022) set at a maximum of what amount per year?

Long term financial plans are usually more flexible than short term ones...

Which of the following would not technically be classed as a windfall?

How long does a person's credit record remain accessible by credit reference agencies after being declared bankrupt?

Which of the following is NOT gradually being replaced by Universal Credit?

The record that every financial transaction, and thus every person, leaves behind them.

When a person is liable for a company’s debts only up to the value of their investment.

DLA is a benefit available for people who have difficulty walking, getting around, or looking after themselves.

Which of the following is a charity providing free, independent, confidential and impartial advice?

Borrowing based on the difference between the value of a house and the outstanding mortgage.

According to The Money Charity, on a daily basis in 2021 UK banks and building societies wrote off loans to individuals:

How many separate benefits is Universal Credit gradually replacing?

A loan used to pay off a number of different debts is called...

Benefit payable to people who need financial support because of disability or health problem.

The extent to which an individual is seen as being likely to pay back any money they borrow.

A plan of expected incomings and outgoings over a set time period such as a month is termed...

Total personal debt in the UK is lower now (2022) than just prior to the financial crisis in 2007

To reduce in size or number for financial reasons, especially a home or a company’s personnel.

A loan, that was designed to be taken out for only a very short period, which charged a very high APR.

A company in which the owners’ financial liability is restricted to their investment.

In November 2021, the average debt per household in the UK (including mortgages) was...

Losing a job because the business no longer needs, wants or can afford that job to be done.

A new UK welfare benefit intended to replace several separate benefits:

In financial terms, an individual’s ability to react to unexpected events.