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 hexagon? (Hint: it has 6 or 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: undefined
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: undefined
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: undefined
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 reflection tasks: (1) Pupils write 200 words explaining the question they got most wrong and why. (2) Pupils select one topic from the unit they want to learn more about and find one external source (gov.uk, BBC Bitesize, Money Saving Expert) to extend their knowledge.