F1.2Earning and Managing Money– Looks at salaries, taxes and other work allowances. Will be extremely useful when leaving school and looking for work.
If you are not already, you will likely have a part time job that will pay you a wage or salary. Whats the difference? What are the pros and cons of a salary and/or wage? Unfortunately you will have to pay tax on monies earned so is there a way that you can minimise tax paid so there is more money in your pocket?
This topic really concerns your financial wellbeing going forward so definitely paying extra attention in this section - and getting it right.
To purchase content subscriptions, please create an account first.
The diagnostic quiz for Earning and Managing Money has been designed for a quick little revision quiz for the whole Earning and Managing Money topic. Each sub topic of Earning and Managing Money will be covered in the diagnostic quiz.
How to test yourself
Download Quiz The best practice is to use a pen and paper. Use the Download Quiz button to print out the quiz and print it out. There will be plenty of room for working so complete the questions on the paper. This is how the school will give it to you so practice this was as well. You will need to submit your responses online after the quiz is finished but we highly recommend practicing by downloading the quiz.
Complete online If you want to work through the diagnostic quiz "live", click the complete online button. This will give you the questions on the computer screen and you can work through the problem on a sheet of paper. Instantly, you can view the answer and submit your answers.
In both testing cases, you will need to submit your answers online for diagnostics. While both options are available, we recommend you put yourself in the "testing environment" by printing out the quiz.
Why do a Diagnostic Quiz?
Test Understanding - If you have completed the entire topic at school, run through the diagnostic to make sure that you have not forgotton anything
Revision / Test Preparation - The best way to identify which areas to focus on for an upcoming test or school quiz. If you are struggling in a particular subtopic in Earning and Managing Money, the diagnostic quiz will pick this up. This means that you can then go back to the topic quizzes and do additional practice in the right area.