Planning and Managing Finances
The test is aimed to develop students' financial literacy skills. There are 10 tasks (high, middle, basic levels).
Задание 1
Mike’s employer pays money into Mike’s bank account every month. Look at Mike’s pay slip for March. How much money did Mike’s employer pay into Mike's bank account on 31 March? EMPLOYEE PAY SLIP: Mike Brown Position: manager 1 March to 31 March Gross salary 2800 pounds Deductions 300 pounds Net salary 2500 pounds Gross salary to date this year 8400 pounds
Задание 2
Mike banks with the Bank. He receives the following e-mail message: Dear Bank member, There has been an error on the Bank server and your Internet login details have been lost. As a result, you have no access to Internet banking anymore. Most importantly your account is no longer secure. Please click on the link below and follow the instructions to restore access. You will be asked to provide your Internet banking details. Which statements would be good advice for Mike?
Задание 3
Mike's son would like to buy a mobile phone, but he is not old enough to sign a contract. Mike buys him a phone and signs a contract for one year. The son agrees to pay the phone bill every month. After 6 weeks, Mike discovered that the bill had not been paid. Are the following statements correct?
Задание 4
Mike receives the following invoice in the mail. Why was this invoice sent to Mike? Invoice Number: 1236 Date issued: 26 January To: Mike Brown From: Windy Clothing Company Description Quantity Unit cost Total (excluding tax) Shirts 2 30 60 Jeans 1 20 20 Jacket 1 50 50 Total Excluding Tax: 130 pounds Tax 10%: 13 pounds Postage: 10 pounds Total Excluding Taxes: 153 pounds Already Paid: 0 pounds Total due: 153 pounds Date due: 1 February
Задание 5
Mike is applying for a loan to buy a family car. The interest rate on the loan is fixed. Payments on the loan must be made monthly. In addition, there are other expenses necessary for the maintenance of the car, such as gasoline costs, repairs and maintenance. How will the cost of expenses change if the family uses the car more often?
Задание 6
Each week Mike transfers 130 pounds into his son’s bank account. The bank charges a fee for each transfer. Mike received this statement from his bank in November 2022. Date Transaction details Credit Debit Balance 1-Nov Opening balance 1780,25 5-Nov Wages 575,00 2355,25 5-Nov Transfer 130,00 2225,25 5-Nov Transfer fee 1,50 2223,75 12-Nov Wages 575,00 2798,75 12-Nov Transfer 130,00 2668,75 12-Nov Transfer fee 1,50 2667,25 13-Nov Withdrawal 165,00 2502,25 19-Nov Wages 575,00 3077,25 19-Nov Transfer 130,00 2947,25 19-Nov Transfer fee 1,50 2945,75 26-Nov Wages 575,00 3520,75 26-Nov Transfer 130,00 3390,75 26-Nov Transfer fee 1,50 3389,25 27-Nov Withdrawal 180,00 3209,25 27-Nov Withdrawal (Rent) 1200,00 2009,25 30-Nov Interest 6,10 2015,35 What were the total fees charged by the bank in November?
Задание 7
Last year, Mike’s motorbike was insured with the LUCKY insurance company. The insurance policy covered damage to the motorbike from accidents and theft of the bike. Mike plans to renew his insurance with the same company this year, but some factors in Mike’s life have changed since last year. Mike was responsible for two road accidents last year. How can this factor affect the cost of Mike’s motorbike insurance this year?
Задание 8
Last year, Mike’s motorbike was insured with the LUCKY insurance company. The insurance policy covered damage to the motorbike from accidents and theft of the bike. Mike plans to renew his insurance with the same company this year, but some factors in Mike’s life have changed since last year. Mike replaced his old motorbike with a much more powerful motorbike. How can this factor affect the cost of Mike’s motorbike insurance this year? The cost of Mike’s motorbike insurance .
Задание 9
Mike receives the following invoice in the mail. How much has Windy Clothing Company charged for delivering the clothes? Invoice Number: 1236 Date issued: 26 January To: Mike Brown From: Windy Clothing Company Description Quantity Unit cost Total (excluding tax) Shirts 2 30 60 Jeans 1 20 20 Jacket 1 50 50 Total Excluding Tax: 130 pounds Tax 10%: 13 pounds Postage: 10 pounds Total Excluding Taxes: 153 pounds Already Paid: 0 pounds Total due: 153 pounds Date due: 1 February
Задание 10
Last year, Mike’s motorbike was insured with the LUCKY insurance company. The insurance policy covered damage to the motorbike from accidents and theft of the bike. Mike plans to renew his insurance with the same company this year, but some factors in Mike’s life have changed since last year. Mike has painted his motorbike a different colour. How can this factor affect the cost of Mike’s motorbike insurance this year? The cost of Mike’s motorbike insurance.
Задание 11
Mike receives the following invoice in the mail. Mike notices that Windy Clothing Company made a mistake on the invoice. Mike ordered and received one shirt, not two. The postage fee is a fixed charge. What will be the total on the new invoice? Invoice Number: 1236 Date issued: 26 January To: Mike Brown From: Windy Clothing Company Description Quantity Unit cost Total (excluding tax) Shirts 2 30 60 Jeans 1 20 20 Jacket 1 50 50 Total Excluding Tax: 130 pounds Tax 10%: 13 pounds Postage: 10 pounds Total Excluding Taxes: 153 pounds Already Paid: 0 pounds Total due: 153 pounds Date due: 1 February
Задание 12
Each week Mike transfers 130 pounds into his son’s bank account. The bank charges a fee for each transfer. Mike received this statement from his bank in November 2022. Date Transaction details Credit Debit Balance 1-Nov Opening balance 1780,25 5-Nov Wages 575,00 2355,25 5-Nov Transfer 130,00 2225,25 5-Nov Transfer fee 1,50 2223,75 12-Nov Wages 575,00 2798,75 12-Nov Transfer 130,00 2668,75 12-Nov Transfer fee 1,50 2667,25 13-Nov Withdrawal 165,00 2502,25 19-Nov Wages 575,00 3077,25 19-Nov Transfer 130,00 2947,25 19-Nov Transfer fee 1,50 2945,75 26-Nov Wages 575,00 3520,75 26-Nov Transfer 130,00 3390,75 26-Nov Transfer fee 1,50 3389,25 27-Nov Withdrawal 180,00 3209,25 27-Nov Withdrawal (Rent) 1200,00 2009,25 30-Nov Interest 6,10 2015,35 The next transactions occurred on 3 December: 575,00 pounds were deposited into Mike’s account, then Mike transferred 130,00 pounds into his son’s account. Mike made no other transactions on 3 December. What was his new bank balance on 3 December?