Finance : Bridging the Gap (2)

TASK 2

1. Which of these cards can onlybe used to withdraw cash from an A.T.M?

a. A debit card

b. A cash card

c. A credit card

d. An oyster card

2. At what age do you receive a NI card?

a. 16

b. 17

c. 18

d. 19

3. What does the FCA stand for?

a. Financial Consumer Authority

b. Financial Customer Advice

c. Financial Conduct Authority

d. Financial Credit Advice

4. Up to how much of your savings will the Financial Services Compensation Scheme FSCS protect/cover?

a. £85,000

b. £50,000

c. £100,000

d. £75,000

5. What is the maximum annual tuition fee charged to students in England and Wales?

a. £9250

b. £9000

c. £6250

d. £6000

6. How many different types of bank note are currently in circulation?

a. 3

b. 4

c. 5

d. 2

7. What is the current rate of inflation?

a. 1.3%

b. 1.5%

c. 1.7%

d. 1.9%

8. Which method of finance would be most suitable for a short-term cash deficit?

a. A loan

b. A mortgage

c. A hire purchase

d. An overdraft

9 and 10. You are in a supermarket and vaguely notice “shopping of £50 or more receive £5 off your bill”. It’s the end of the month and you only have £46 to spend. After you have finished your shopping, you wait at the checkout and notice a display promoting a special offer on a two litre bottle of branded lemonade. The offer is BOGOF. The price is £2 a bottle. You put two bottles in your shopping. However, at the till you are embarrassed when the total comes to exactly £48. What should you do?

a. Put two extra bottles in the basketb. Put one extra bottle in the basketc. Take out and return one bottled. Take out and return two bottles

TASK 3

Using the below link, answer all the questions (record your answers on A4 paper)

All the answers are contained within the Bank of England website

http://www.bankofengland.co.uk/

Home

1. What is the current base rate of interest?

2. When will the next decision on the base rate of interest be announced?

3. What is the inflation target of the Bank of England?

4. What is the current rate of inflation?

(Click on current rate of) Inflation

5. How is inflation measured?

6. Why does the B of E feel if inflation is too high or moving around a lot, it is a problem?

Go back to home and click on “Banknotes

7. How long as the B of E been issuing banknotes?

8. When was the new £5 first issued?

9. Who is on the back of the £5 note?

10.What material is the new £5 printed on?

11.What is printed on the see through window of the £5 note?

12. What two colours are the border around the edge of the window?

13. When was the current £10 note first issued?

14.When was the current £20 note first issued?

15. When was the current £50 note first issued?

Our People”

16. When was the Bank of England founded?

17. How many employees does the B of E have?

18. What is its role of the MPC?

19. What is the role of the FPC?

20. When was the FPC established?