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