Can you answer these five money questions?

1 Jane’s mortgage repayment is $1500 per month. Which of the below repayment strategies would give Jane the biggest savings?

A Paying $1500 per month.

B Splitting her repayment into two and paying $750 per fortnight.

C Multiplying her monthly repayment by 12, then dividing by 26 and paying $692 per fortnight.

D I don’t know.

2 You may have to pay an excess if you have to make a claim on your car insurance policy. In which of the following instance(s) might an excess apply?

A If you have an accident that’s your fault.

B If you have an accident that’s someone else’s fault but you don’t have their details.

C If your car is stolen.

D All of the above.

3 Finn was three weeks late in making a payment on his credit card. Can the credit card provider mark it as late on his credit report?

A No, because late repayments are only recorded on mortgages.

B No, because he caught up.

C No, because it was less than 60 days late.

D Yes, because it was more than 14 days late.

E I don’t know.

4 Isabelle only turns on the dishwasher in the middle of the night because she thinks it will save her money on electricity. Is that true?

A Yes, if she is on a single-rate tari . B Yes, if she is on a time-of-use tari . C No.

D I don’t know.

5 Susan and her partner are shopping around for an NBN plan. They notice the plans are called NBN 25, NBN 50, NBN 100 etc. What do these numbers mean?

A The theoretical peak download speed you could get on that plan.

B The peak download speed you are guaranteed on that plan.

C The theoretical peak upload speed you could get on that plan.

D The peak upload speed you are guaranteed on that plan.

E The amount of data included in that plan.

F I don’t know.