CEFS UNIT 1 - ALL TOPICS (1-12) EXAM
WITH COMPLETE QUESTIONS AND
ANSWERS [ GRADED A+]
Acceptable - ✔️✔️One of the key features of money - to be widely accepted.
Administration order - ✔️✔️A repayment plan arranged by county courts in
England, Wales and Northern Ireland for people with less than £5,000 in
unsecured debt and at least one county court judgment (CCJ) against
them. They apply to the court to have an administration order issued, then
pay what the court decides they can afford directly to the court each
month, and the court makes repayments to their creditors.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money
©morren2025/2026.Year published 2026.
,in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of compounding
the interest and any fees and charges.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of
compounding the interest and any fees and charges.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of compounding the
interest and any fees and charges.
APR - ✔️✔️Annual percentage rate - the total cost of borrowing over one year,
including the interest charged and any fees.
©morren2025/2026.Year published 2026.
,APR - ✔️✔️the total cost of borrowing over one
year, including the interest charged and any fees.
Aspirations - ✔️✔️Things or experiences that people would like to have in the
future, for example owning a home instead of renting, having a luxury
holiday or buying a sports car.
Aspirations - ✔️✔️Things/experiences people would like to have in the future
Assets - ✔️✔️Economic resources (things of value) owned by a
firm/individuals
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.
Assets - ✔️✔️Things that person/business owns
©morren2025/2026.Year published 2026.
, ATM - ✔️✔️Automated teller machine, also known as a cash machine
ATM - ✔️✔️Automated teller machine, also known as a cash machine.
ATM - ✔️✔️Automated teller machine, also known as a cash machine.
Balance - ✔️✔️Income minus expenses.
Balance transfer - ✔️✔️Moving the balance (total amount owed) on a card
from one card
provider to another.
Balance transfer - ✔️✔️Moving the balance (total amount owed) on a card
from one card provider to another.
©morren2025/2026.Year published 2026.
WITH COMPLETE QUESTIONS AND
ANSWERS [ GRADED A+]
Acceptable - ✔️✔️One of the key features of money - to be widely accepted.
Administration order - ✔️✔️A repayment plan arranged by county courts in
England, Wales and Northern Ireland for people with less than £5,000 in
unsecured debt and at least one county court judgment (CCJ) against
them. They apply to the court to have an administration order issued, then
pay what the court decides they can afford directly to the court each
month, and the court makes repayments to their creditors.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money
©morren2025/2026.Year published 2026.
,in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of compounding
the interest and any fees and charges.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of
compounding the interest and any fees and charges.
AER - ✔️✔️Annual equivalent rate is the interest that will be earned on the
money in one year and takes into account how often the provider pays the
interest (for example, monthly or annually), the effect of compounding the
interest and any fees and charges.
APR - ✔️✔️Annual percentage rate - the total cost of borrowing over one year,
including the interest charged and any fees.
©morren2025/2026.Year published 2026.
,APR - ✔️✔️the total cost of borrowing over one
year, including the interest charged and any fees.
Aspirations - ✔️✔️Things or experiences that people would like to have in the
future, for example owning a home instead of renting, having a luxury
holiday or buying a sports car.
Aspirations - ✔️✔️Things/experiences people would like to have in the future
Assets - ✔️✔️Economic resources (things of value) owned by a
firm/individuals
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.
Assets - ✔️✔️Things that person/business owns
©morren2025/2026.Year published 2026.
, ATM - ✔️✔️Automated teller machine, also known as a cash machine
ATM - ✔️✔️Automated teller machine, also known as a cash machine.
ATM - ✔️✔️Automated teller machine, also known as a cash machine.
Balance - ✔️✔️Income minus expenses.
Balance transfer - ✔️✔️Moving the balance (total amount owed) on a card
from one card
provider to another.
Balance transfer - ✔️✔️Moving the balance (total amount owed) on a card
from one card provider to another.
©morren2025/2026.Year published 2026.
