QUESTIONS THAT CAN GUIDE CHILDREN TO A SOLVENT FUTURE

If you want to sample the delights of personal finance, the web site address is www.young-money. co.uk. Or why not test your children's skills at the following questions:

Q1: In the film Star Wars, who was the commander of the rebel base on Hoth?

A: Hans Solo

B: General Rieekan

C: Luke Skywalker

Q2: What does RAM stand for in computer terms?

A: Read All Memory

B: Read Access Memory

C: Random Access Memory

Q3: What's the minimum age for taking out an ISA?

A: 16

B: 18

C: 21

Q4: Which American state has an airport named after a famous President?

A: New York

B: Boston

C: New Jersey

Q5: What is an IFA?

A: Independent Financial Agreement

B: Independent Financial Adviser

C: Instant Financial Application

Q6: Whose official residence is 11 Downing Street?

A: Deputy Prime Minister

B: The Chancellor of the Exchequer

C: The Prime Minister's wife

Q7: What replaced PEPs from 6 April 1999?

A: Personal Equity Plans

B: Personal Savings Accounts

C: Individual Savings Accounts

Q8: What is a tsunami?

A: A form of Indian cuisine

B: A tidal wave

C: A martial art

Q9: What are shares?

A: A tax-free method of saving

B: An investment where you own part of a company

C: A form of life insurance which you share with your partner

Q10: What is a pension?

A: A tax-efficient way of saving for retirement

B: A type of bank account

C: A savings account started when you are at school

Q11: Which of the following is most commonly used to buy a house?

A: Credit card

B: Overdraft

C: Mortgage

Q12: What is the national speed limit of dual carriageways in the UK?

A: 80mph

B: 60mph

C: 70mph

Q13: Which method of saving is tax-free?

A: Deposit account

B: ISA

C: Unit trust

Q14: What is the capital of Australia?

A: Canberra

B: Sydney

C: Adelaide

Q15: What is a unit trust?

A: A collection of shares all within a particular type of company.

B: An insurance policy that protect devaluation of shares

C: A pool of investors' resources in which the consumer buys units

Q16: What does a Geiger counter detect?

A: Radioactivity(

B: Earth tremors

C: Smoke

Q17: If the rate of inflation increased, the prices of goods and services

will:

A: Go up

B: Go down

C: Stay the same

Q18: What is the "bid price"?

A: The price of new shares coming onto the stockmarket

B: The value of a single share

C: The price at which you can sell a security or a unit in a unit trust

Q19: Which one of the following members of the Royal family appeared on

Friends?

A: Prince Edward

B: Prince Andrew

C: Fergie

Q20: How many notes are there in an octave?

A: Eight

B: 10

C: 16

ANSWERS

A1: B

A2: C

A3: B

A4: A

A5: B

A6: B

A7: C

A8: B

A9: B

A10: A

A11: C

A12: C

A13: B

A14: A

A15: C

A16: A

A17: A

A18: C

A19: C

A20: A