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Last Updated: Friday, 15 December 2006, 15:58 GMT
2006 Money Box Christmas quiz
A Christmas present
We gave you the chance to test your personal finance knowledge and win a digital radio in this year's Money Box quiz.

The competition closed at 1800 GMT on Thursday, 4 January, 2007. Thank you to all those who entered. All correct submissions were entered into a prize draw. The winner was picked from a hat and announced live on BBC Radio 4's Money Box on Saturday, 6 January, 2007.

The winner is Brian Salt from Derby. Answers to the questions have been posted below.

1. The Bank of England put rates up to 5% on 8 November, 2006. When did the rate last increase to 5%?

a) 5 March 1925, b) 27 February 1964, or c) 17 October 1977

Answer: b) 27 February 1964

The rate fell to 5% in 2 August 2001.

2. In July 2006, what did the government announce would no longer be a compulsory part of Home Information Packs when they are launched in England and Wales in June 2007?

a) home condition report, b) energy performance certificate or c) local authority searches

Answer: a) home condition report

3. Where will economist Adam Smith appear in spring 2007?

a) on the 20 note, b) on the 2 coin, or c) on the 2nd class stamp

Answer: a) on the 20 note

4. According to the Land Registry the average price of a home in England and Wales went above what figure in October 2006?

a) 150,000, b) 170,000, or c) 190,000

Answer: b) 170,000

5. The 20th anniversary of the Big Bang was celebrated in 2006. Who was Chancellor of the Exchequer at the time of the Big Bang?

a) Norman Lamont b) John Major c) Nigel Lawson

Answer: c) Nigel Lawson

6. What was the share price when Standard Life started trading on the London Stock Exchange on 10th July 2006?

a) 180p, b) 200p, or c) 230p

Answer: c) 230p

7. Which European currency will disappear on 1 January 2007?

a) litas, b) coruna, or c) tolar

Answer: c) tolar

The Slovenian currency changed to the Euro at the beginning of the year.

8. According to figures published by the Office of National Statistics in 2006, what percentage of employees were still members of final salary pension schemes in 2005?

a) 35%, b) 40%, or c)45%

Answer: a) 35%

9. The currency markets flirted with the two dollar pound throughout December 2006. When was the pound last worth two dollars?

a) March 1989, b) September 1992, or c) April 1995

Answer: b) September 1992

10. If the merger between the Nationwide and Portman announced in September 2006 goes ahead, how many members would the combined building society have?

a) 9 million, b) 13 million, or c) 16 million

Answer: b) 13 million

11. Gordon Brown delivered his tenth Budget in March 2006. Which word appeared 16 times in his speech?

a) prudence, b) carbon, or c) stability

c) stability

12. What proportion of the total number of Child Trust Fund vouchers issued had not been used to open an account by May 2006?

a) 10%, b) 25%, or c)33%

Answer: b) 25%

13. Which tennis player lost a battle with HM Revenue and Customs in May 2006 over whether he should pay income tax in the UK?

a) Andre Agassi, b) Roger Federer, c) Raphael Nadal

Answer: a) Andre Agassi

14. The Office of Fair Trading indicated in April 2006 that it thought credit card default charges above what level were unfair?

a) 9 b) 12 c) 15

Answer: b) 12

15. According to independent research, which age group suffered the highest actual inflation rate during 2006?

a) people in their 20s, b) people in their 50s, c) people over 75

Answer: c) people over 75

16. How many Individual Voluntary Arrangements were entered into in England and Wales during the second quarter of 2006?

a) 11,105, b) 15,789, or c) 23,667

Answer a) 11,105

17. Which group will see a special benefit for their children abolished in April 2007?

a) lone parents, b) prisoners, or c) asylum seekers

Answer a) lone parents

The higher rate of child benefit paid to the first child in a one parent family will be abolished in April 2007. It was introduced in 1976 but the amount was frozen in 1995 and has not been paid to new claimants since 1998.

18. The A-day pension changes introduced a new limit for trivial pensions. What is it?

a) 10,000, b) 15,000, or c) 20,000

Answer: b) 15,000

19. In their standard form for financial products, which of these has the most digits?

a) CVV, b) PIN, or c) IBAN


The International Bank Account Number is a series of alphanumeric characters that uniquely identifies a bank account. It is typically 20 characters long compared with the four characters in PINs and the three characters in the CVV or Card Verification Value code found on the back of credit and debit cards.

20. By what proportion did the number of UK higher rate taxpayers increase between tax years 1995/96 and 2005/06?

a) 40%, b) 50%, c) 60%

b) 50%

There were 2,130,000 in 1995/96 and 3,160,000 in 2005/06.

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