#1
Which of the following is not a type of financial institution?
Bank
Credit Union
Stock Exchange
Mutual Fund
#2
Which of the following is an example of a fixed expense?
Groceries
Utility Bills
Entertainment
Dining Out
#3
What is the purpose of financial planning?
To spend money impulsively
To save money without any goal
To achieve financial goals
To avoid budgeting
#4
What is the purpose of a financial statement?
To track personal expenses
To evaluate the financial health of a business
To calculate taxes
To apply for a loan
#5
Which of the following is a key principle of consumer rights?
Transparency in pricing and product information
No refunds for faulty products
Limited options for making complaints
Compulsory purchase of extended warranties
#6
What does APR stand for in the context of loans and credit?
Annual Payment Rate
Average Percentage Rate
Annual Percentage Rate
Average Payment Rate
#7
What is the primary purpose of a credit score?
To determine if you qualify for a loan or credit card
To track your monthly spending habits
To calculate your income tax
To evaluate your net worth
#8
Which of the following is not a common consumer right?
Right to Safety
Right to be Informed
Right to Complain
Right to Pay High Prices
#9
What does ROI stand for in the context of investments?
Return on Investment
Rate of Inflation
Risk of Investment
Revenue from Operations
#10
What is the difference between a debit card and a credit card?
Debit cards have higher interest rates than credit cards
Debit cards are not linked to a bank account
Debit cards deduct funds directly from your bank account
Credit cards require a PIN for transactions
#11
What is the 'Rule of 72' used for in financial planning?
To estimate how long it takes for money to double at a given interest rate
To calculate monthly loan payments
To determine stock market trends
To predict inflation rates
#12
Which of the following is not a factor that can affect your credit score?
Payment History
Length of Credit History
Income Level
Types of Credit Used
#13
What is the role of inflation in financial planning?
To increase the value of money over time
To decrease the purchasing power of money
To stabilize the economy
To reduce interest rates
#14
What is the purpose of estate planning?
To minimize taxes
To transfer assets to heirs
To protect assets from creditors
All of the above
#15
Which of the following is a factor that can affect an individual's credit score?
Income level
Credit card color
Number of social media followers
Favorite food