Consumer Mathematics: Financial Management Form 4

Which of the following is the correct order of financial management process?

I) Carrying out financial plan

II) Setting goals

III) Reviewing and revising the progress

IV) Evaluating financial status

V) Creating financial plan

• II, IV, V, I, III

• II, V, IV, III, I

• IV, I, II, V, III

• IV, II, V, I, III

Which of the following is not a key component in the SMART concept for goal setting?

• Measurable

• Time-bound

• Specific

• Goal

In February 2020, Mr Daniel received a total income of RM4 500. His monthly fixed expenses and variable expenses are RM2 880 and RMx respectively. There is a negative cash flow of RM620. Calculate the value of x?

• 1 000

• 3 500

• 2 240

• 3 880

The table shows part of Encik Halim’s monthly financial plan.

Express p as a percentage of the net income.

• 25%

• 20%

• 15%

• 10%

Which of the following is the correct example of asset and liability?

• Asset: Loan

  Liability: Credit card debts

• Asset: Unit Trust

  Liability: Instalment balance

• Asset: Tax

  Liability: Real estate

• Asset: Saving

  Liability: Property

Mr Patrick spends RM2 500 for household expenses every month. How much is the minimum emergency fund needed by him based on Bank Negara Malaysia suggestion?

(Hint: Emergency fund is the amount Mr Patrick should have to spend on household if he suddenly doesn’t have any income)

• RM15 000

• RM12 000

• RM10 000

• RM7 500

How many percentages should a person save from their monthly income?

• 5%

• 10%

• 8%

• 20%

The following shows part of Mr Jason’s financial management process.

To save for emergency fund

To buy a laptop

To buy a terrace house in 10 years by paying RM60 000 as a down payment.

What step in the financial management process did Mr Jason take?

• Evaluating financial status

• Setting financial goals

• Carrying out financial plan

• Creating a financial plan

Calculate the cash flow for Mr Razak. Then, determine whether it is Deficit or Surplus.

Active Income: RM3 000

Passive Income: RM350

Fixed Expenses: RM2 300

Variable Expenses: RM250

• -800 (Deficit)

• 800 (Surplus)

• 1000 (Surplus)

• -1000 (Deficit)

How much is Puan Sofia’s monthly saving if she wanted to pay the down payment for a RM650 000 house in six years?

• RM1111.78

• RM900.00

• RM1000.78

• RM902.78