Lesson T4.2.1
T4.2.1 Managing risk Quiz: KS3 Citizenship, Unit 4
20 questions
In partnership with Revision Ninja
Lesson T4.2.1, Managing risk: 20 multiple choice questions for the KS3 Citizenship (National Curriculum), Unit 4: Money and risk, written with Revision Ninja.
Host it live on the board and students join with a game code on their own devices, or revise alone with Free Play. The answers are revealed in the game.
The 20 questions
-
What does the term 'risk' describe in financial decision-making?
- Potential harm
- Fixed cost
- Guaranteed profit
- Certain outcome
-
Which strategy involves completely stopping a hazardous activity to avoid harm?
- Risk reduction
- Risk avoidance
- Risk transfer
- Risk sharing
-
What financial product transfers the risk of loss to a company?
- Savings account
- Overdraft facility
- Government bond
- Insurance policy
-
What name is given to the regular payment made for insurance cover?
- Interest
- Premium
- Dividend
- Excess
-
What is the upfront sum paid by the policyholder during an insurance claim?
- Excess
- Payout
- Deposit
- Premium
-
Which insurance type covers belongings against theft or fire damage?
- Life insurance
- Contents insurance
- Travel insurance
- Health insurance
-
Which device helps reduce fire risk in the home?
- Door lock
- Light bulb
- Water tap
- Smoke alarm
-
Which safety equipment reduces head injury risks while cycling?
- Hi-vis jacket
- Reflective band
- Knee pad
- Cycle helmet
-
What process identifies hazards and decides how to control them safely?
- Bank audit
- Risk assessment
- Credit check
- Budget planning
-
Which action is an example of transferring financial risk?
- Spending less
- Saving cash
- Buying insurance
- Avoiding travel
-
Why do people sometimes choose to take calculated risks?
- Fixed returns
- Guaranteed safety
- Zero cost
- Potential rewards
-
What term describes the possibility of losing money on an investment?
- Disposable income
- Financial risk
- Net profit
- Credit score
-
What is the main benefit of spreading savings across different investments?
- Guaranteed wealth
- Risk reduction
- Tax avoidance
- Higher inflation
-
What type of fund provides a regular income after stopping work?
- Overdraft
- Student loan
- Mortgage
- Pension
-
Why is it beneficial to start saving for a pension at a young age?
- Immediate tax relief
- Higher inflation rates
- Compound interest growth
- Guaranteed zero risk
-
What financial term describes borrowed money that must be paid back with interest?
- Assets
- Credit
- Dividends
- Equity
-
What is a major risk associated with taking on debt?
- Guaranteed asset growth
- Automatic tax cuts
- Immediate wage rises
- Accumulating high interest
-
Which event poses a major everyday risk to personal household finances?
- Lower council tax
- Decreased energy bills
- Loss of income
- Receiving a bonus
-
Why do lenders check a borrower's ability to repay before approving a loan?
- Reduce default risk
- Increase interest rates
- Speed up approval
- Encourage borrowing
-
What is the most effective way to manage the financial risk of unexpected costs?
- Maxed credit cards
- Emergency savings fund
- Higher impulse spending
- Avoiding all insurance
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