1
Q
Peer pressure is the pressure to buy a product because
A
Your friends have the same product
2
Q
If someone wants the outstanding balance of a repayment mortgage to be fully repaid in the event of their death, which product should they use?
A
Mortgage protection insurance
3
Q
People with student loans related to courses that started after 1st September 2012 have to start making repayments when their earnings reach
A
£21,000
4
Q
Example of derived demand
A
Taking out a loan to be able to afford to buy a new car
5
Q
Derived demand definition
A
A demand for a service or product which is a consequence of the demand for something else
6
Q
Capital gains tax rates in 2018
A
18% and 28%
7
Q
Stages of budgeting
A
- Decide on aspirations
- Establish realistic timescales
- Establish starting position
- Establish priorities
- Document the plan
- Implement the plan
- Review progress
CeFS Unit 2
flashcards
Decks in class (10)
# Cards
-
Topic 1 - Needs, Wants and Aspirations21
-
Stray Questions7
-
Topic 2 - Savings and Investment Products58
-
Topic 3 - Borrowing Products30
-
Topic 4 - Dealing With Long-Term Risks31
-
Topic 5 - Financial Planning3
-
Topic 6 - Financial Planning and Informed Decisions6
-
Topic 7 - Dealing with Unforeseen Circumstances8
-
Topic 8 - Ethics and Sustainability22
-
Topic 9 - Sources of Information and Advice13
