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Topic 3

Quiz by Danielle Dawson

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10 questions
Show answers
  • Q1
    What is a key external political factor that affects financial services providers?
    Changes in consumer preferences
    Increased competition from startups
    Technological advancements
    Political instability causing market uncertainty
    30s
  • Q2
    How often does a general election usually occur in the UK?
    Every five years
    Every four years
    Every six years
    Every two years
    30s
  • Q3
    What is the primary role of the Bank of England's Monetary Policy Committee (MPC)?
    To manage public spending
    To control inflation
    To generate tax revenue
    To regulate financial product offerings
    30s
  • Q4
    What is the target inflation rate set by the government for the Bank of England?
    4%
    2%
    3%
    1%
    30s
  • Q5
    Which government action can directly lead to changes in demand for financial services due to increased consumer costs?
    Regulating loan terms
    Change in taxation policies
    Changes in banking technology
    Introducing new financial products
    30s
  • Q6
    What relationship does an increase in Bank rate have on savers and borrowers?
    Neither savers nor borrowers are affected
    Savers are charged more and borrowers receive less
    Both become less affordable
    Savers receive more income and borrowers are charged more
    30s
  • Q7
    What event could lead to increased demand for financial services due to heightened confidence in the economy?
    Increased taxation
    A newly elected government
    A global financial crisis
    Implementation of new legislation
    30s
  • Q8
    What is the effect of high inflation on savers according to the text?
    Savers withdraw all their funds
    Savers seek higher returns through investment products
    Savers invest in safe bonds only
    Savers reduce their savings
    30s
  • Q9
    Which regulatory body is responsible for ensuring financial stability in the UK?
    The Financial Policy Committee
    The Financial Conduct Authority
    The Prudential Regulation Authority
    The Bank of England
    30s
  • Q10
    How do fiscal policies affect financial services providers?
    They dictate loan approval processes
    They influence consumer spending behavior
    They regulate interest rates directly
    They allow increased competition
    30s

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