SOURCES OF FINANCE: Question Preview (ID: 24105)

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This source of finance is used when buying property.
a) Bank loan b) Bank overdraft c) Grant d) Mortgage
This source of finance may cause arguments with relatives if not repaid
a) Grant b) Personal Savings c) Family and Friends d) Bank Loan
This source of finance means you have spent more more than you have available.
a) Bank Loan b) Bank Overdraft c) Mortgage d) Grant
This source of finance can be obtained from council or business start up organisations and doesn't need to be repaid.
a) Loan b) Grant c) Mortgage d) Overdraft
This source of finance means you know your monthly repayments (including interest) and repaid within a year. This allows you to budget your money.
a) Grant b) Mortgage c) Loan d) Personal Savings
This source of finance means the owner may not have emergency funds if this money is used.
a) Grant b) Mortgage c) Loan d) Personal Savings
Which of the following would require no paper work to be filled in to request money.?
a) mortgage b) grant c) personal savings d) loan
Which of the following is NOT a disadvantage of a mortgage
a) you can take 25 years to repay b) interest rates may change c) forms must be completed to arrange d) property may be taken if repayments are not made
This source of finance would be used in an emergency as interest rates are high.
a) bank loan b) mortgage c) grant d) overdraft
Which of the following sources of finance may not require to be repaid
a) mortgage and grant b) grant and family and friends c) family and friends and loan d) personal savings and overdraft
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