Fortunity Quiz - St Nicholas

23 Questions | By Mike_spidey | Updated: Mar 20, 2022 | Attempts: 182

Questions

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A test based on the interactive online board game designed to engage and inspire pupils with personal finance education. Using a virtual board game and avatars, players move through different stages of life, from the teenage years to retirement, making everyday and long-term decisions and discovering their outcomes.

Questions and Answers

1.

Which of these dispenses cash 24 hours a day?
- A.
  
  ATM
- B.
  
  APR
- C.
  
  EMA
- D.
  
  ISA
2.

APR, short for Annual Rate, it's a legal requirement for APR to be shown on products where you borrow money in order that an easier and fairer comparison can be made.
3.

Which students are EMA payments aimed at helping?
- A.
  
  Students staying on in education after 16.
- B.
  
  All students
- C.
  
  University students
- D.
  
  Students aged 11 - 16
4.

Student loans cover living costs, accommodation and what else?
- A.
  
  Tuition fees
- B.
  
  Car tax and insurance
- C.
  
  Nights out
- D.
  
  Computers to help with essay & coursework
5.

What is Jobseeker’s Allowance commonly known as?
- A.
  
  The Pole
- B.
  
  JSA
- C.
  
  The Dole
- D.
  
  Benefit allowance
6.

What is the name for the amount you can earn before paying tax?
- A.
  
  Tax Allowance
- B.
  
  Tax allowed
- C.
  
  Taxed always
- D.
  
  Stamp Duty
7.

What name is given to the amount you are paid for a job over a period of time (usually each month)?
- A.
  
  Salary
- B.
  
  Shares
- C.
  
  Equity
- D.
  
  Deposit
8.

Anything owned by the company having a monetary value; eg: buildings, plant and machinery, vehicles e.t.c is called what?
- A.
  
  Annuity
- B.
  
  Debt
- C.
  
  Overheads
- D.
  
  Assets
9.

What is an Annuity?
- A.
  
  Measure of operational efficiency - shows how much revenue is produced
- B.
  
  A fixed sum of money paid to someone each year, typically for the rest of their life.
- C.
  
  The movement of cash in and out of a business from day-to-day
- D.
  
  A new unit for a business
10.

What is Capital gains Tax?
- A.
  
  The amount gained when an asset is sold above its original purchase price.
- B.
  
  An increase in the value of an asset.
- C.
  
  Is money provided to a business in exchange for part ownership of the business.
- D.
  
  General tax taken from anyone earning a wage.
11.

Default is a failure to pay a or other debt obligation.
12.

is a reduction applied to a full priced good or service.
13.

What is a public or private sector enterprise providing public services such as gas, electricity and water.
- A.
  
  Utilities
- B.
  
  Stakeholder
- C.
  
  RRP
- D.
  
  Power Companies
14.

What does PIN stand for ?
- A.
  
  Personal Incident Number
- B.
  
  Personal Identification Network
- C.
  
  Personal Identification Number
- D.
  
  Protective Income Nuisance
15.

RPI stands for Retail Index.
16.

Stamp duty is a tax paid when you buy a .
17.

VAT stands for Value Added .
18.

Tax is a compulsory contribution to the , taken from workers' income and business profits, or added to the cost of some goods, services, and transactions.
19.

A is an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization.