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Unit 3 Finance Introductory Starter Flashcards | StudBud
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Unit 3 Finance Introductory Starter
Unit 3 Finance Introductory Starter
11 terms
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StudBud Administration
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200 plays
A starter quiz for the unit
Flashcards
11 cards
F
Practice quiz
P
Host live
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Questions
11
Answers
1
A guarantor...
a type of financial adviser
gives you a loan
co-signs the loan and agrees to repay if you can't
gives you a character reference
2
Wages are...
paid by the government due to personal circumstances
paid on a per hour basis.
paid on a per year basis. Includes sick leave.
paid according to volume of sales.
3
which of the following is a reason
FOR
borrowing money?
Interest rates
additional costs
convenience
false sense of security
4
Which of the following is a
LEGAL
consequence of poor financial management?
not being able to socialise
poor credit rating
being declared bankrupt
reputation damage
5
What is a secured loan?
a loan with a fixed interest rate
a loan that requires a character reference
nothing is listed to guarantee the loan
the loan has something of value listed to guarantee the loan
6
Which type of loan would be best suited for this item?
Personal Loan- secured
Mortgage
Credit Card
Personal loan- unsecured
7
An insurance premium is...
a cost that is charged to claim on your insurance
the amount of money to be paid to receive cover
interest paid to you from an insurance company
a statement of what is included in your insurance
8
Responsible financial management...
using your money so as to obtain the greatest return
spending as little as possible
means living simply without any luxuries.
putting a lot of money aside in the bank each month
9
Which of the following are fixed expenses?
clothes
rent
entertainment
savings
10
What type of loan is best suited for this item?
Payday Loan
Store credit
Bank Overdraft
Mortgage
11
Risk and return is...
including different risk levels in your investment portfolio
a collection of all investments
the balance you accept between losing and making money
the profit you will get
