LIBF • LIBF

LIBF Unit 1 - topic 1, 2, 3. Questions and answers, 100% Accurate, graded A+ Austerity - -A government measure to reduce the amount of money it spends (usually reduced wages and benefits), resulting in difficult financial conditions for a population. Benefits - -Money and other financial support (such as reduced bus and train fares or provision of housing) that the government provides for people who are unable to get any other income. Bonds - -A certificate that shows you have bought ...

LIBF revision unit 1, Exam Questions and answers, 100% Accurate, rated A What is a direct debit? - -Payments can be for different amounts of money each time. What are instructions that pay the same amount of money to another account on a regular basis? - -Standing order Pete is 21 years old, what stage is he in his life cycle? - -Young adult What is the age range for someone who is middle aged? - -41-54 years old Ross is in the teenage life stage, how old could he be? - -13-...

LIBF Unit 4 Topic 1 Study guide question sections. 100% Coverage, rated A+ Competition and Markets Authority (CMA) - -The body responsible for strengthening business competition and preventing and reducing anti-competitive activities. Counterparties - -People and organisations (eg companies) who lend money to and borrow from financial intermediaries (ie financial institutions such as banks). Credit Union - -A mutual organisation (that is, owned by its members) that provides a range of...

LIBF multiple choice unit 4. Question and answers, 100% Accurate, graded A+ A bank - -Which of the following is an example of a large public limited company? HM Treasury - -The government department that has overall responsibility for financial stability in the UK is: provide services to individuals and to small and medium-sized businesses - -Retail banks: individual insurance companies and Lloyd's insurance market - -The providers of insurance can be subdivided into two main cate...

LIBF Unit 3 - Topic 1. Exam Questions with answers, rated A+ Payday Loans - -A temporary loan at a high interest rate Contingency Planning - -Attempting to plan for unexpected events and taking them into account Types of pension - -State, occupational, personal plan, stakeholder, NEST What is the NEST - -Low-cost, trust based pension scheme . Also available to self employed people What is a Non-Financial investment - -Buying works of art, fine wine or classic cars What is fle...

LIBF Unit 3 topics 1, 2, 3, 4, 5, 6, & 7. Exam Resource. 100% Approved. Rated A+ Assets - -Things that a person or a business owns. For a person their assets might include property, jewellery or financial products such as company shares. Bank rate - -The interest rate that the Bank of England uses when it lends money to other banks. Financial services providers take account of the Bank rate when they decide how to set interest rates on their own products. Bankruptcy - -A situation in ...

LIBF Unit 1 E-test Revision Test 1. Exam Question & Answers, rated A+ What customers will directly benefit of interest rates rise? - -People with a variable rate cash isa The financial services (banking reform) bill includes the concept of ring fencing. For a bank this means: - -Separating everyday banking activities from investment banking activities What do u have to provide to a bank for proof of address when opening a bank account? - -A water bill issued two months ago The cons...

LIBF UNIT 2 - TOPIC 1, Exam Preview. 100% Accurate, graded A+ Affordability - -An important concept in helping people to choose financial products, based on budgeting and forecasting to help individuals decide what they can afford to spend Aspirations - -Things or experience that people would like to have on the future, for example having a luxury holiday Attitudes - -People's thoughts and feelings at a given time and place, whether it be about another person, an event or an issue ...

LIBF- Unit 3, Top Exam Question and answers, 100% Accurate, rated A+ Bank rate - The interest rate that the Bank of England uses when it lends money to other banks. Financial services providers take account of the Bank rate when they decide how to set interest rates on their own products. Cash flow forecast - A plan of expected incomings and outgoings over several time periods, such as the next three months or a year. Cash flow modelling - A software program that can predict the mediu...

LIBF Unit 1 topics 1, 2, 3, 4, 5 & 6. Full exam review. Rated A+ Acceptable - -One of the key features of money - to be widely accepted. Barter - -To exchange goods and services for other goods and services without using money. Current account - -Bank or building society accounts where people can store their money in the form of electronic balances and withdraw it to make payments. Denomination - -A group of coins or notes that share the same face value. Divisible - -A key featu...

LIBF Unit 1 Questions and answers, 100% Accurate, Graded A+ Define the term citizen. - -Someone who has the legal right to live in a country; Who decides who becomes a citizen? - -The government decide who becomes a citizen. What are societal norms? - -These are certain ways citizens expect people in the society in certain ways. Explain multi-cultural citizens and society. - -The UK is a multicultural society, this means there are a variety of influences. Outline the role and du...

LiBF Unit 2, Question and answers, 100% Accurate, rated A+ 1.1 Outline the need for financial planning. - -Make better financial decisions Avoid unnecessary debt Help make decisions on savings, spending and progress in reaching goals Helps show what you have to do to get to where you want to be 1.2 Explain the personal factors which influence financial planning. - -Factors influenced by stage in life cycle Attitude to risk Attitude to Risk - -a. Risk tolerance - how does the in...

LIBF Unit 1 E-test Revision Test-2. Questions with accurate answers, 100% Accurate, rated A+ Give an example of a function of money... - -Exchange For money to function as intended, it needs to be: - -Acceptable A key feature of money is that all coins and banknotes of a certain denomination need to be homogeneous . True or false? - -True British banknotes have a promise on them to 'pay the bearer on demand the sum of' followed by the amount of money the banknote represents. The ...

LiBF Unit 1 Question with accurate answers, 100% Accurate, rated A+ Citizen - -Someone who is legally considered to be a member of a country and has certain rights and responsibilities within that country Who decides who becomes a citizen - -The government home office Society norms - -rules and expectations of the behaviour of people 1.2 Outline the role and duties of a citizen in society in the UK. - -Political rights and responsibilities Legal rights and responsibilities Econom...

LIBF Unit 1, Top Exam Question with accurate answers, 100% Accurate, rated A+ Annual Budget - -an outline, given by the Chancellor of the Exchequer, of planned government expenditure for the next financial year. Annual equivalent rate (AER) - -the interest rate that would be paid on a savings account if you were to leave the money in the account for a full year. Annual percentage rate (APR) - -the interest that would be charged on a sum borrowed over one full year; used to measure the...