1) What does VAT stand for? a) Valued After Tax b) Vehicle Automobile Tax c) Visitor Abroad Tax d) Value Added Tax 2) Being overdrawn is a situation where? a) You spend more money per day than you have b) Your bank balance is £0 c) You take more out of your bank account than you have in it d) You owe the bank £1 per day 3) Which of the following does NOT appear on a pay slip? a) Tax b) Amount you earned c) Date d) Your age 4) What name is given to the annual overall cost of money borrowed? a) APR b) RNI c) AGM d) ARC 5) How much is a colour TV license per year? a) Under £50 b) Between £50 and £100 c) Between £100 and £200 d) Over £200 6) Whose picture is on the back of a £10 note? a) Darwin b) Edison c) Churchill d) Jane Austen 7) ATM is another word for a ‘hole in the wall’ – but what do the letters stand for? a) Automatic Tenner for Me b) Advanced Till Maker c) Automated Teller Machine d) Automatically Take Money 8) What does ISA stand for? a) Individual Savings Account b) Instant Savings Access c) Instant Savings Allowance d) Interest Savings Account 9) The first ever paper money was used in which country? a) China b) England c) Egypt d) Italy 10) Which government agency collects income tax in the UK? a) Department of Work and Pensions b) The Treasury c) The Bank of England d) Her Majesty’s Revenue and Customs

Managing Your Money Quiz

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