Chapter 10: Financial Management

Which of the following is/are the financial management process?

• setting goals

• evaluating financial status

• creating financial and revising the progress

• all the above

SMART concept will help us control our spending to achieve the desired goals."M" stand for

Minor house improvement.

• Long-term goal

• Short-term goal

Which of the following is not a basic need?

• food

• holiday

• clothing

• accomodation

Which of the following is a liability?

• Unit trust

• Bank loan

• Investment

• Fixed deposit

Choose the correct match.

• 1

• 2

• 3

• 4

Encik Sharul wants to buy a car in two years. His total monthly income is RM 5 600 and his total monthly fixed and variable expenses is RM 3 800. He plans to pay RM 8 400 as the down payment of the car. How much is his monthly savings in order to achieve his financial goal?

• RM75

• RM275

• RM350

• RM180

Mr Liew and his wife have a total income of RM12 600 a month. They have three children and they would like to save an amount of RM250 000 for their children's education in 15 years from now. What is the minimum amount they need to save every month for their education fund?

• RM 1 360

• RM 1 380

• RM 1400