1) What does denomination mean? a) The name of money b) The different values of each note and coin c) When you nominate someone to pay a bill for you 2) What is 'legal tender'? a) Something that hurts in the eyes of the law b) A way debt can be paid off without going to court c) Money that is universally accepted by everyone and for 3) Is legal tender the only form of money you can use to buy things? a) Yes b) No 4) What are the characteristics of money? a) Easily recognised by everyone b) Accepted by people and shops c) Easy to carry around d) Available in different amounts e) Always worth the same amount f) Hardwearing 5) Who makes coins in the UK? a) Bank of Scotland b) Bank of UK c) Bank of England d) Barclays Bank 6) What promise appears on all English bank notes? a) The bank promises to pay the owner of the goods £x... b) I promise to pay the shopkeeper £x... c) I promise to pay the bearer on demand the sum of £x... 7) Who issues English bank notes? a) Natwest Bank b) Bank of England c) Royal Bank of the UK 8) Who issues Scottish banknotes? a) Bank of Scotland b) Royal Bank of Scotland c) Clydesdale Bank 9) What security features appear on English bank notes? a) Feel of paper b) Raised print c) Metallic thread d) Watermark e) Hologram f) Microlettering 10) What happens to worn bank notes? a) They are used until they fall apart b) They are withdrawn and replaced with new bank notes c) They are handed in to the police and you can be arrested for possesion of worn notes 11) What happens if the Bank of England decides that a design must be replaced? a) Old bank notes get shredded and new ones are made b) Old notes become illegal tender c) The old and new notes are in circulation together while the old ones are gradually withdrawn

1 - Legal tender - Quiz

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