School Leavers Quiz
1. What are your National Insurance contributions used for?
a) Paying doctors and nurses
b) Your State pension and other benefits
c) A free holiday for everyone when they reach 21
d) Building new roads
2. How much is your Personal Allowance this year?
a) £150
b) £5,035
c) £7.50
d) £8,500
3. If you’re working in the holidays, what form should you fill in to make sure you don’t pay tax?
a) MP3 (L)
b) KFC (2)
c) P38 (S)
d) *NSYNC (4)
4. If you want to make sure your savings aren’t taxed at 20%, do you:
a) Shout abuse at the manager of your bank or building society
b) Write to your MP
c) Register by filling in a form R85
d) Leave the country
5. If you’re earning £16,500 a year, how much tax do you pay?
a) 0%
b) 10%
c) 40%
d) 22%
6. What is Child Tax Credit?
a) Parents have to pay the Government £100 for every child they have
b) The Government pays money to people over 16 who are responsible for a
child
c) All people over 16 who are responsible for a child are given a free credit
card
d) All children under 16 have to give 20% of their pocket money to the Government
7. What age do you have to be to get the National Minimum Wage?
a) 16
b) 40
c) 12
d) 65
8. When does the tax year start?
a) 1st January
b) 1st May
c) 6th April
d) 25th December
9. If you get a student loan, when will you start paying it back?
a) When you’ve left college and are earning more than £5,000
b) As soon as you start your college course
c) When you’ve left college and are earning more than £15,000
d) When you’ve made your first million
10. If you’re eighteen years old and claiming Job Seeker’s Allowance, how much would you get?
a) £328.90 a week
b) £105.20 a week
c) £9.50 a week
d) £44.50 a week
11. It’s a good idea to keep:
a) Records
b) CDs
c) MP3 files
d) DVDs
