Consumer Mathematics: Financial Management (Part 2)

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

• Setting goals

• Evaluating financial status

• Creating financial plan

• Reviewing and revising the progress

• All of the above

Which of the following is/are correct?

• short term financial goals can be achieved less than 6 months

• short term financial goals can be achieved less than a year

• long term financial goals usually take more than 3 years

• long term financial goals usually more than 10 years

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

• Measurable

• Time-bound

• Specific

• Aim

Tags

CCSS.6.SP.B.5C

Which of the following is/are correct?

• Fixed expense - dividends

• Variable expense - rent

• Active income - Allowances

• Passive income - allowances

Calculate the cash flow for Miss Sorayya.

Active Income : RM3,300

Passive Income : RM300

Fixed Expenses : RM 1,800

Variable Expenses : RM 250

Write down your answer without the (RM)

(a)  

Tags

CCSS.7.NS.A.1D

Calculate the cash flow for Mr. Rabbani

Active Income : RM3,000

Passive Income : RM350

Fixed Expenses : RM 2,300

Variable Expenses : RM 250

Then, determine whether it is Deficit or Surplus.

• -800 (Deficit)

• 1000 (Surplus)

• 800 (Surplus)

• -1000 (Deficit)

Tags

CCSS.7.NS.A.3

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

• RM1111.78

• RM1000.78

• RM900.00

• RM902.78

Tags

CCSS.8.EE.C.7B

Among the following individuals, who sets the SMART goals?

• Puan Hadirah intends to buy a laptop which costs RM3,000 as a birthday gift for her son. Therefore, she plans to save RM300 a month for ten months

• Mr Hazry is a teacher with an income of RM3,000 and plans to get married in two years' time. The wedding expenses are estimated to be RM30,000. Therefore, he wants to save RM1,000 a month for a period of two years. Besides that, she also plans to get a loan for the wedding expenses.

• Miss Hazwanyza wants to buy a house worth RM200,000 if she has sufficient amount of money

Tags

CCSS.6.EE.B.6

When do we set aside the money for the 10% savings?

• After engaging the expenses

• Before engaging the expenses

Tags

CCSS.6.RP.A.3B

Please create a financial plan for Miss Dhia.

Salary : RM6,000

House/apartment loan, including maintenance : RM 500

Car instalment : RM700

Travel : RM500

Rental : RM 1,500

Transport fares : RM900

Utility bills : RM250

Toll payments : RM100

Groceries : RM400

Allowances for parents : RM600

Insurance : RM 200

Savings 2% from salary

Then determine whether Miss Dhia's cash flow is negative or positive.

You will discuss this question with your subject teacher during the discussion session.

[5 marks]

Tags

CCSS.7.NS.A.3