Personal finance quiz of 2021
30th December 2021 09:29
Our everyday finances have been impacted at many levels over the past 12 months. Find out how much you know about issues affecting the money in your pocket.
1) How much is the full New State Pension a week currently, rounded to the nearest £?
a) £177 a week
b) £179 a week
c) £180 a week
d) £183 a week
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2) What did the chancellor freeze in his Budget this year until 2026?
a) The higher rate of income tax threshold
b) The Lifetime Allowance limit on pension pots
c) a) and b)
d) His smoothie mixes
3) Which type of ISA comes with an annual limit of £9,000?
a) Junior ISA
b) Stocks and Shares ISA
c) Cash ISA
d) Lifetime ISA
4) Which celebrity promoted Ethereum Max, a crypto coin, on Instagram in June, sending its price rocketing?
a) Ronaldo
b) Elon Musk
c) Kim Kardashian
d) Gordon Ramsay
5) If I have £5,000 in a savings account that pays 1% interest annually, and the annual inflation rate is 5.1%, what will my money be worth after one year (in today's money)?
a) £5,050
b) £5,255
c) £4,950
d) £4,795
6) What gained £24,000 this year?
a) The price of the average home
b) The value of the average pension
c) The price of a Tesla
d) The cost of a new kitchen
7) What % of ISA holders have cash ISAs (2020)?
a) 46%
b) 76%
c) 86%
d) 96%
8) What is the current income threshold for paying the High Income Child Benefit Charge?
a) £49,995
b) £50,000
c) £50,270
d) £60,000
9) If someone said: "Would you like to do 'UFPLS'?" what are they talking about?
a) A dance on TikTok
b) A game played at Hogwarts
c) A new tax-free savings wrapper
d) One way I could take money out of my pension pot once I can access it
10) If you give money to what from your estate, it will be free from inheritance tax?
a) your pets
b) your kids
c) your local school
d) a community amateur sports club
11) What is the state triple lock? Tick all that apply.
a) A high security prison
b) A guarantee that the state pension will never rise more than three times once you've started claiming it
c) A guarantee that the state pension will rise by inflation, earnings or 2.5%, whichever is highest, every year?
d) A double lock for one year
12) If you took out a student loan in 2019, after how long would the debt be written off?
a) Never
b) 23 years
c) 25 years
d) 30 years
13) What's the annual allowance for pension contributions?
a) £20,000
b) Up to your maximum earnings or £40,000, whichever is lower
c) £40,000
d) £3,600
14) How much cash do experts recommend holding for emergencies?
a) at least 3 months' salary
b) £10,000
c) £1,000
d) at least 1 month's salary
15) What's the deadline for self-assessment tax returns?
a) April 4
b) December 31
c) January 31
d) June 30
Please scroll down for the answers...
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Answers
1. c
2. c
3. a
4. c
5. d
6. a
7. b
8. c
9. d
10. d
11. d
12. d
13. b
14. a
15. c
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