Libf unit 1 - Study guides, Class notes & Summaries

Give an example of a function of money... - Answer- Exchange For money to function as intended, it needs to be: - Answer- Acceptable A key feature of money is that all coins and banknotes of a certain denomination need to be homogeneous . True or false? - Answer- 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 promise is signed by the....? - Answer- Chief cashier of the Bank of England....

LIBF Unit 1 Topic 1 Exam Questions with Correct Solutions 2024.

What is the National Living Wage for those aged 25 and over? - Answer- £8.72 What is the minimum wage for those aged 21-24? - Answer- £8.20 What is the minimum wage for those aged 18-20? - Answer- £6.45 What is the minimum wage for those under 18? - Answer- £4.55 What is the minimum wage for apprentices under 19 or in their first year? - Answer- £4.15 How many hours can an employee work? - Answer- An employee can work a maximum of 48 hours per week averaged over 17 weeks unle...

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...

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 Unit 1 E-Test Revision-2 with Complete Solutions A+ Guaranteed

LIBF Unit 1 Topic 12 Exam Questions and Answers with Certified Answers.

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 3 topics 1, 2, 3, 4, 5, 6, & 7 Q&A with complete solution 2023/2024

LIBF unit 1 Topic 2 Key Words Well Explained with Guaranteed Success.