First-time Buyers And Eric Pickles: The Mortgage Solutions Quiz 31 May 2013
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Test your knowledge of the week's events with this quick quiz.
Questions and Answers
- 1.
What or who did MPs describe as ‘ineffective and timid’, and why?
- A.
George Osborne; not making deeper cuts
- B.
The Office of Fair Trading; failing to take action on payday lenders
- C.
The Council of Mortgage Lenders; opposing the return of 110% mortgages
Correct Answer
B. The Office of Fair Trading; failing to take action on payday lendersExplanation
MPs described the Office of Fair Trading as 'ineffective and timid' because it failed to take action on payday lenders. This implies that the Office of Fair Trading did not enforce regulations or take strong measures against payday lenders who were engaging in unfair practices or exploiting vulnerable individuals. The MPs believed that the Office of Fair Trading should have been more proactive in addressing this issue and protecting consumers.Rate this question:
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- 2.
The Office for National Statistics added satisfaction with accommodation to its national wellbeing measure. What did it drop?
- A.
Trust in Parliament
- B.
Hot tub ownership
- C.
Commuting time
Correct Answer
A. Trust in ParliamentExplanation
The Office for National Statistics added satisfaction with accommodation to its national wellbeing measure, indicating that they included this aspect as a factor in assessing overall national wellbeing. In order to make room for this addition, they had to drop another factor from their measurement. In this case, they chose to drop "Trust in Parliament" as a measure of national wellbeing. This suggests that they considered satisfaction with accommodation to be a more important factor to include in their assessment than trust in the parliamentary system.Rate this question:
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- 3.
Which country did the Homeowners Alliance warn Britain could resemble if Stamp Duty was not reformed?
- A.
Russia
- B.
Belgium
- C.
North Korea
Correct Answer
B. BelgiumExplanation
The Homeowners Alliance warned that if Stamp Duty was not reformed, Britain could resemble Belgium. This suggests that the organization believes that the current system of Stamp Duty in Britain is problematic and needs to be changed. The comparison to Belgium implies that the Homeowners Alliance sees similarities between the two countries in terms of their housing market or property taxation policies. However, without further context or information, it is difficult to determine the specific reasons behind this warning.Rate this question:
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- 4.
Who is opposing Essex Council’s first-time buyer mortgage scheme?
- A.
UKIP
- B.
UK Uncut
- C.
Gordon Brown
Correct Answer
A. UKIPExplanation
UKIP is opposing Essex Council's first-time buyer mortgage scheme.Rate this question:
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- 5.
What deal did Virgin Money reveal this week?
- A.
A three-year fix at 4.85% up to 100% LTV
- B.
A two-year fix at 4.65% up to 80% LTV plus chance to win a trip to space
- C.
A two-year fix at 4.75% up to 90% LTV
Correct Answer
C. A two-year fix at 4.75% up to 90% LTVExplanation
Virgin Money revealed a two-year fixed deal at 4.75% up to 90% LTV.Rate this question:
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- 6.
Communities and local government chief Eric Pickles has publicly criticised Welsh politician Ann Jones’ housing regulation campaign. What demand was he so angry about?
- A.
Introducing fines for rude estate agents
- B.
Forcing builders to include free gnomes with purchases
- C.
Including anti-fire sprinklers in new homes
Correct Answer
C. Including anti-fire sprinklers in new homesExplanation
Eric Pickles was angry about the demand to include anti-fire sprinklers in new homes.Rate this question:
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- 7.
What percentage of cases handled by the Financial Ombudsman concern independent financial advisers?
- A.
86%
- B.
1%
- C.
52%
Correct Answer
B. 1%Explanation
The correct answer is 1%. This means that only a very small percentage of cases handled by the Financial Ombudsman concern independent financial advisers. It suggests that the majority of cases are not related to independent financial advisers, indicating that their involvement in disputes or complaints is relatively low compared to other parties.Rate this question:
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- 8.
According to the Council of Mortgage Lenders, which of the following areas saw the greatest rise in first-time buyers?
- A.
Scotland
- B.
Wales
- C.
London
Correct Answer
A. ScotlandExplanation
Scotland saw the greatest rise in first-time buyers according to the Council of Mortgage Lenders.Rate this question:
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- 9.
By how much does the British Chambers of Commerce expect the UK economy to grow this year?
- A.
4.2%
- B.
0.9%
- C.
It won't
Correct Answer
B. 0.9%Explanation
The British Chambers of Commerce expects the UK economy to grow by 0.9% this year. This indicates that the organization predicts a relatively low level of economic growth for the country.Rate this question:
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- 10.
Which BBC programme has invited Sir Mervyn King as a participant?
- A.
The Apprentice
- B.
Top Gear
- C.
Desert Island Discs
Correct Answer
C. Desert Island DiscsExplanation
Sir Mervyn King has been invited to participate in the BBC programme "Desert Island Discs."Rate this question:
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