Personal Finance Unit 3 Quiz

Where a computer takes over a task previously carried out by a person it is known as .

A company or person that sets up and supervises IVAs is called a ?

The term given to bringing back functions that were once offshored.

Also known as 'equities', investments that represent part-ownership in a company are called

Rules that devout Muslims follow which, in relation to personal finance, prohibit the paying and receiving of interest

Term for the amount of cash banks are required to hold in relation to the amount they have in deposits

The value of what has to be given up in order to consume something else eg buying a new car rather than going on holiday

The government uses this to measure inflation. calculated by checking the price of a representative basket of goods

An international body of 189 countries promotes international cooperation on exchange rates and other economic matters.

A 'safety net' payment for those not eligible for other unemployment and sickness allowances, to pay for basic needs

A period of at least six months in which the amount of goods and services the country is producing is shrinking.

The difference between the expected and actual figures in relation to income and expenditure

A bond issued by the UK government. It's a way for the government to borrow. Most are issued with a redemption date,

Which of these is not an EU authority

The value of all the goods and services produced within a country in a year is called Gross Domestic Product?

A mortgage normally taken out by those with low credit ratings and is therefore more likely to not be repaid

A budgeting method where every penny is allocated to different categories including bills, spending and savings.

A compensation scheme that pays out up to £85,000 to account holders if the provider goes into default

The term for reduced benefits if your household income is above a certain level or you have more than £6,000 in savings.

The Bank of England committee responsible for keeping inflation under control by the manipulation of interest rates.

The project that resulted in an agreement between the government and banks to pay lower bonuses to their employees

The body responsible for strengthening business competition and preventing and reducing anti-competitive activities.

Statistical data relating to population, eg in terms of age, sex, ethnicity, culture, social status and geography.

Payable to those aged 16-64 who have a long-term illness or disability & unable to perform basic daily living activities

Which of these is one of Santa's Reindeer?

Payable to those 65+ who have a long-term illness or disability meaning they cant perform basic daily living activities

The movement of people from one location to another, to settle in the new location is called

Examples of challenger banks are Lloyds, Barclays and Santander .