Tax quiz
Money Works: Level 2 Topic 4

1. AT WHAT AGE TO DO YOU RECEIVE YOUR
NATIONAL INSURANCE NUMBER?
A. 18
B. 21
C. 16
Tax quiz
Money Works: Level 2 Topic 4
2

2. WHAT PERCENTAGE OF YOUR GROSS PAY ABOVE THE
CONTRIBUTION THRESHOLD GOES TOWARDS
NATIONAL INSURANCE?
A. 10 %
B. 11 %
C. 12 %
Tax quiz
Money Works: Level 2 Topic 4
3

3. WHAT DOES YOUR TAX CODE TELL YOU?
A. How much you have earned that year
B. How much you can earn before tax
C. How much tax you have paid
Tax quiz
Money Works: Level 2 Topic 4
4

4. WHAT DOES BACS STAND FOR?
A. Bankers Automated Clearing System
B. Bankers Automated Calling System
C. Bankers Automated Clearing Scenario
Tax quiz
Money Works: Level 2 Topic 4
5

5. WHAT IS THE NAME OF THE LARGEST
TAX THAT IS TAKEN OFF YOUR PAY?
A. Council tax
B. Income tax
C. National Insurance
Tax quiz
Money Works: Level 2 Topic 4
6

6. WHICH IS BIGGEST?
A. Gross pay
B. Net pay
Tax quiz
Money Works: Level 2 Topic 4
7

7. WHAT DOES PAYE STAND FOR?
A. Pay All You Earn
B. Pay At Your Economy
C. Pay As You Earn
Tax quiz
Money Works: Level 2 Topic 4
8

8. WHAT FORM DO YOU RECEIVE WHEN
YOU STOP WORKING FOR SOMEONE?
A. P11D
B. P45
C. B12
Tax quiz
Money Works: Level 2 Topic 4
9

9. WHAT FORM SHOULD YOU RECEIVE AT
THE END OF THE FINANCIAL YEAR?
A. P11D
B. P45
C. P60
Tax quiz
Money Works: Level 2 Topic 4
10

10. WHAT IS ANOTHER NAME FOR A
PENSION CONTRIBUTION?
A. Supertax
B. National Insurance
C. Superannuation
Tax quiz
Money Works: Level 2 Topic 4
11

ANSWERS
Tax quiz
Money Works: Level 2 Topic 4
12

1. AT WHAT AGE TO DO YOU RECEIVE YOUR
NATIONAL INSURANCE NUMBER?
A. 18
B. 21
C. 16
Tax quiz
Money Works: Level 2 Topic 4
13

2. WHAT PERCENTAGE OF YOUR GROSS PAY
GOES TOWARDS NATIONAL INSURANCE?
A. 10 %
B. 11 %
C. 12 %
Tax quiz
Money Works: Level 2 Topic 4
14

3. WHAT DOES YOUR TAX CODE TELL YOU?
A. How much you have earned that year
B. How much you can earn before tax
C. How much tax you have paid
Tax quiz
Money Works: Level 2 Topic 4
15

4. WHAT DOES BACS STAND FOR?
A. Bankers Automated Clearing System
B. Bankers Automated Calling System
C. Bankers Automated Clearing Scenario
Tax quiz
Money Works: Level 2 Topic 4
16

5. WHAT IS THE NAME OF THE LARGEST
TAX THAT IS TAKEN OFF YOUR PAY?
A. Council tax
B. Income tax
C. National Insurance
Tax quiz
Money Works: Level 2 Topic 4
17

6. WHICH IS BIGGEST?
A. Gross pay
B. Net pay
Tax quiz
Money Works: Level 2 Topic 4
18

7. WHAT DOES PAYE STAND FOR?
A. Pay All You earn
B. Pay At Your economy
C. Pay As You earn
Tax quiz
Money Works: Level 2 Topic 4
19

8. WHAT FORM DO YOU RECEIVE WHEN
YOU STOP WORKING FOR SOMEONE?
A. P11D
B. P45
C. B12
Tax quiz
Money Works: Level 2 Topic 4
20

9. WHAT FORM SHOULD YOU RECEIVE AT
THE END OF THE FINANCIAL YEAR?
A. P11D
B. P45
C. P60
Tax quiz
Money Works: Level 2 Topic 4
21

10. WHAT IS ANOTHER NAME FOR A
PENSION CONTRIBUTION?
A. Supertax
B. National Insurance
C. Superannuation
Tax quiz
Money Works: Level 2 Topic 4
22