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Terminology 0001   Easy

 
 
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1. Insurance is protection against what?
 
Something which cannot happen
Something which has happened
Something which is sure to happen
Something which may happen

Something not guaranteed to happen, eg fire or flood
 
 
2. For what is APR an abbreviation?
 
Accountants' Provisional Rebate
Al's Protection Racket
Annual Percentage Rate
Audited Protection Relief
 
 
3. What do bankers call the person originating a cheque or bill of exchange?
 
Bill
Drawer
Payer
Punter
 
 
4. For what is BACS an abbreviation?
 
Bankers Automated Clearing System
Billing and Credit Scheme
British-Arab Cooperative Society
Business and Commerce Section
 
 
5. At what point does Gross Margin equal Fixed Costs?
 
Break-Even Point
Point of No Return
Vanishing Point
Zabriskie Point
 
 
6. In the UK, what duty is payable upon the transfer of land?
 
Capital Gains Tax
Corporation Tax
Stamp Duty
VAT

Collected by the stamping of the legal documents relating to the transfer
 
 
7. What are Liquid Assets?
 
Insurance policies
Items quickly convertible into cash
Items rented out to third parties
Stocks and shares
 
 
8. What tax is payable on Premium Bond winnings in the UK?
 
Nil
10 per cent
Same as current rate of VAT
40 per cent
 
 
9. What are the four Ps of marketing?
 
People, Platform, Performance, Push
Perth, Plymouth, Preston, Pudsey
Product, Price, Place, Promotion
Push, Pull, Produce, Promote
 
 
10. Assurance is protection against what?
 
Something which cannot happen
Something which has happened
Something which is sure to happen
Something which may happen

Something which will happen - but at an unknown date, eg death
 
 
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