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Financial Education
Financial Education
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Questions
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1
Your _________determines if you qualify for a educational loan?
Credit card
Credit score
401K
Savings account
2
F6 students should learn financial management skills ......
to become a smart consumer
to improve the financial situation of the individual
3
What do you understand byt the 50/30/20 budgeting method?
50% wants 30% needs 20% savings
50% saving 30% wants 20% needs
50% needs 30% wants 20% savings
4
Emergency funds refers to .......
a way to invest for retirement
a saving amount set aside for unexpected situation
money stashed away that people can use in times of financial distress
5
The longer the money is saved, the better.
False
True
6
What is the first step in budgeting?
Review and evaluate monthly
Record what you send
Set financial goals
Estimate your income
7
Which of the following statement is true about debt?
amount of money you have in your checking account
ability to borrow money
amount of money you have in your savings account
amount of money you have borrowed from a person or a business
8
Which of the following actions shows F6 students have good financial management?
Remain rational towards various sales and promotion
Part with cash if a product is trendy
9
...... is the country with the highest rate of financial literacy
Japan
Switzerland
Brunei
Australia
10
Management of finance for individulas are called
Personal Finance
Business Finance
Firm Finance
11
Which of the following economics trends affects personal financial planning?
Inflation
Abstract
Reduction
12
Which of the following influences financial behaviour?
Culture, Experience, Need
Culture, Social, Emotional
Experience, Time, Emotion
13
Which of the following statements about federal students loans is true?
The interest rates on federal loans and private loans are similar
You can only get federal students loans if you demonstrate financial need
You do not accumulate interest on federal loans
The interest rate on your loan will be fixed over time
14
Money used to pay off education related expenses such as room and board at the university that you will have to pay back
Loan
Grant
Savings
Scholarship
15
The purpose of a budget is to :
stop you from spending too much money
increase the balance of your savings account
help you plan how you will spend the money you earned or received
tell you how much you owe the government in taxes
16
Besides tuition, most colleges also charge their students for
Textbooks
Room and Board
All of the above
Extra Fees
17
What is the similarities between insurans and takaful?
Contain Islamic properties
against Islamic properties
They are both financial instruments intended to protect oneself.
18
Financial education has a direct impact on personal well-being. Why is it financial in education?
long term goals
to be up to date with current possibilities
make the most of financial trends
For emergency purpose
19
Choose the best word which describes the phrase ."Work part-time on campus while enrolled in a higher institution."
Scholarship
Work-study
Part-time job
Financial Aid
20
Your emergency savings fund should have______________ worth of income?
1-2 months
3-6 months
10 months
It doesn't matter
