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Are you financially savvy? Flashcards | StudBud
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Are you financially savvy?
Are you financially savvy?
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Questions
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Answers
1
It is wise to invest your money ...
when you feel lucky
spread over different products
all at once
for a short duration
2
The general rule of investing/trading in stocks and shares is to
Buy low sell low
Buy high sell low
Buy low sell high
Buy high sell high
3
What is the term used to describe a drop in purchasing power of money over a period of time?
Devaluation
Deflation
Infatuation
Inflation
4
Which of these should take up 30% of your income?
Investment
Shopping
Insurance
Savings
5
Which of these sell insurance products?
Kent Ridge Secondary School
NUS Business School
Prudential
OCBC Bank
6
Which of these is a variable expense?
Shopping
Transport
Handphone bill
Groceries
7
Which of these is an example of a GOOD debt?
Credit loan for a sports car
Loan from a famous loan shark
Loan from a bank for university tuition fees
Loan from a financial institution to start a business
8
What is an insurance premium?
Insurance payment
A high class product
Insurance claim
Yearly bonus/ dividends
9
Who was the banker that presented the first part of the Financial Literacy Program?
Prof Tommy
Mr Ethan
Dr Michelle
Mr Cyril
10
Which of these is NOT a good reason for buying insurance?
Driving your own car
Going for a overseas vacation
Providing for your family in case of accidents
Receiving bonuses and dividends
11
Which of these insurance products are essential for a working parent with young kids?
Investment linked policies
Loss of income
Critical illness
Total and permanent disability
