How to use this quiz
A 12-question assessment quiz designed for the end of the KS1 Money Foundations unit. Total time: 25-30 minutes. Each question has a marking note for teacher use. Use after completing all 6 lessons in the KS1 Money Foundations unit.
Total marks available: 24. Progression note: A pupil scoring 18+ /24 is ready to begin the KS2 Money & Society unit.
Quiz questions + teacher answer key
Click "Teacher answer + marking note" on each question to reveal the model answer. Print this page (with details expanded) for a paper-based mark scheme, or use on-screen for live marking.
Question 1 (4 marks)
Name 4 UK coins by value.
Teacher answer + marking note
Model answer: 1p, 2p, 5p, 10p, 20p, 50p, £1, £2 — any 4 of these.
Question 2 (1 mark)
What coin is the same shape as a heptagon? (Hint: it has 7 sides)
Teacher answer + marking note
Model answer: 20p coin (7 sides) or 50p coin (7 sides). Award 1 mark for either.
Question 3 (1 mark)
How many 1p coins make £1?
Teacher answer + marking note
Model answer: 100
Question 4 (2 marks)
Make 50p using only 10p and 5p coins. Show one way.
Teacher answer + marking note
Model answer: e.g. 5 × 10p, or 10 × 5p, or 3 × 10p + 4 × 5p, etc. Any combination = 50p.
Question 5 (1 mark)
Is a coat a WANT or a NEED?
Teacher answer + marking note
Model answer: B — NEED. A warm coat keeps you safe and healthy in cold weather.
Note: Accept "NEED" or "BOTH" with reasoning.
Question 6 (4 marks)
Give 2 things you might SPEND money on and 2 things you might SAVE money for.
Teacher answer + marking note
Model answer: Spending: snack, comic, toy, app. Saving: a bigger toy, a holiday, a bike. Any 2 of each.
Question 7 (2 marks)
You have £5. You buy a £2.50 sandwich and a £1.20 drink. How much change do you get back?
Teacher answer + marking note
Model answer: £5 − £2.50 − £1.20 = £1.30
Question 8 (1 mark)
You have £10 to spend on three items. Which 3 fits under £10? (a) £3.50 + £4.00 + £2.00 = ? (b) £5.00 + £3.50 + £2.00 = ? (c) £4.00 + £3.50 + £3.00 = ?
Teacher answer + marking note
Model answer: A — (a): £3.50 + £4.00 + £2.00 = £9.50, which is under £10.
Note: Correct: (a) £9.50. Others exceed £10.
Question 9 (3 marks)
You get £5 pocket money. You want to split it into SAVE, SPEND, GIVE. Suggest a sensible split.
Teacher answer + marking note
Model answer: e.g. £2 save, £2 spend, £1 give. Or £3 save, £1.50 spend, £0.50 give. Any sensible 3-jar split totalling £5.
Question 10 (1 mark)
True or false: A want is more important than a need.
Teacher answer + marking note
Model answer: B — False. Needs come first.
Note: False — needs come first.
Question 11 (3 marks)
Draw or describe 3 things you might save up for.
Teacher answer + marking note
Model answer: A bike, a game, a school trip, a present for someone, etc. Any 3 specific saving goals.
Question 12 (1 mark)
What is one thing money is used for in your home? (Pick one: paying for food, paying for the house, paying for clothes)
Teacher answer + marking note
Model answer: Any reasonable answer about household spending.
Follow-up homework
After the quiz, set 2 take-home tasks suited to ages 5–7: (1) Pupils draw the coin (or coins) from the question they found trickiest and tell a grown-up one thing about it — its colour, its shape, or what it is worth. (2) Coin hunt: with a grown-up, pupils find one real coin at home, then bring back (or draw) its name and value. No written homework beyond a label or a sentence is expected at this age.