1) What does PPI stand for? a) protection payment interest b) protection payment insurance c) Payment protection insurance d) payment protection interest 2) PPI covers you if you a) die b) get sick c) get sacked from work d) if I was redundant when I took out the policy 3) You can get an insurance policy if you die a) True b) False 4) A whole life policy pays out a) when you get sick b) when you are made redundant c) when you die d) if you die within a time period 5) A Term assurance policy pays out a) no matter when you die b) if you get sick c) if you get sacked d) if you time within a certain time period 6) FOS stands for a) Face our saints b) Financial ombudsman service c) financial other service d) financial ombudsman sector 7) You have to pay for the FOS service a) True b) False 8) Customers can go straight to the FOS to complain a) True b) False 9) FOS are no employees of the bank a) True b) False 10) what does FSCS stand for? a) Financial services compensation scheme b) financial services compensation sector c) finance service corporation service 11) The max limit you can be compensated is a) 20,000 b) 30,000 c) 40,000 d) 50,000 e) 60,000 12) If you had 60,000 savings and the bank went bust how much compensation would you get? a) 60,000 b) 50,000 c) 0 13) what does caveat emptor mean? a) banks beware b) buyer be careful c) buyer beware d) banks be careful

quiz unit 3 topic 3

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