Level 1 assessment: Beginner

10 questions · Covers lessons 1 to 14 · Updated 1 November 2026

Ten questions drawn from lessons 1 to 14. There is no time limit and no record is kept beyond this page. Each answer explains itself once chosen.

Question 1 of 10

Which is NOT one of the three jobs of money?

Question 2 of 10

A flat monthly account fee costs proportionally most to whom?

Question 3 of 10

What is the usual first step in building a budget?

Question 4 of 10

A full emergency fund is commonly described as three to six months of what?

Question 5 of 10

An account pays 2 per cent while prices rise 4 per cent. The real return is:

Question 6 of 10

Using the Rule of 72, money doubles at 6 per cent a year in roughly:

Question 7 of 10

Extending a loan term usually does what?

Question 8 of 10

A higher excess on an insurance policy usually means:

Question 9 of 10

A caller claiming to be from your bank asks for the one-time code just sent to your phone. This indicates:

Question 10 of 10

Which figure is used when building a monthly budget?

Not financial advice. These questions test understanding of the lessons and are general education only. See our editorial policy and disclaimer.