The 'MoneySaving IQ Test' discussion area

xnatalie81x

Your final score

Your MoneySaving IQ is...

14/25

How that compares


54503 people have taken the quiz
2.9% scored more than you
0.5% scored the same as you
96.6% scored less than you
157
140+ Genius MoneySaver
110 – 139 Impressive Moneysaver
90-109 Mean (Average!) MoneySaver
60-89 Could-do-better MoneySaver
Below 60 Get practicing your MoneySaving

MUCHO IMPRESSED

pqrdef

I assume the Premium Bond question's been updated. Doesn't look right as it stands now. £1000 at 1.5% is £15 not £7.50.

khalid

I managed to get 18/25, which I'm quite pleased with. However I'm completely stuck with the answer to Q17. I would be grateful if someone could show the calculations for A, B & D, so that I could understand how to do the interest calculations. Many thanks!

MKB

I'm going to challenge some answers:

Q3 - Many airlines itemise the outbound and return flights separately when buying a return flight, but that doesn't necessarily mean that each flight could be bought individually for those amounts. Typically, the no-frills carriers tend to use one-way pricing and the likes of BA don't, but not always. As worded, and without any additional information, it sounds like the purchaser is buying a return product, where each direction is itemised, not two one-way flights that use one-way pricing. So answer (A) is correct.

Q5 - I don't accept your valuation of Airmiles. What they are worth depends very much on how much the products you can cash them in for are worth to you personally and how hard it is to redeem for those products. Based on personal experience, I would certainly not take the Airmiles given the choices presented here.

Q18 - I knew the answer was definitely not 3.54p, so assumed the second hour must cost 66p, which seemed cheap, but it's the most expensive amount listed. Now I learn that the £ sign was missing on option (A) when all other figures mentioned were in pence (and it's quite normal to see telephone charges quoted to fractions of a penny).

Q21 - I'll give you an extreme case to make my point. Suppose that the total number of premium bonds in existence comes from just 100 people who have each invested exactly £1000, that means that £1500 has to be paid out in prizes. If the government decide to give all that prize money to just one person as one prize, then the chances of you being that one person is 1%, not 22%. I don't know how many prizes are given out, but I do know there are some huge ones, so the correct answer to the question will be nowhere near 22%.

lukeuser01

I got 155, 17/25, happy. My weakest point was consumer rights.

System

109, not bad for me i thought i knew naff all about moneysaving!

pinkfunkyflares

OMG! I'm the thicko, what happened?

Thanks for having a go at the quiz.

Your final score 21/25

Your MoneySaving IQ is... 200

(I'm a genius



How that compares


66832 people have taken the quiz
0.2% scored more than you
0% scored the same as you
99.8% scored less than you
140+ Genius MoneySaver
110 – 139 Impressive Moneysaver
90-109 Mean (Average!) MoneySaver
60-89 Could-do-better MoneySaver
Below 60 Get practicing your MoneySaving!

lynneee

14/25 IQ 120! Quite pleased with that

zagfles

18/25 - quite pleased with that:)

67142 people have taken the quiz
2.9% scored more than you
0.5% scored the same as you
96.6% scored less than you

Slight whinge - answer to q.22 is wrong. As well as being out of date, there is no upper income limit for tax credits and never has been. Large families with disabilities/childcare costs can get tax credits on higher incomes. The explaination is also wrong - the disability element was not treated the same as the baby element.

wacko911

MKB wrote: »

I'm going to challenge some answers:



Q18 - I knew the answer was definitely not 3.54p, so assumed the second hour must cost 66p, which seemed cheap, but it's the most expensive amount listed. Now I learn that the £ sign was missing on option (A) when all other figures mentioned were in pence (and it's quite normal to see telephone charges quoted to fractions of a penny).
.

Agreed, I've spent the last 10 mins reading all the posts to figure out how it could possibly be 3.54p. 354p I would have understood

got 19/25 (should really be 20) and IQ of 169