Spmaddmath quiz

Identify short-term financial goals

• buying a book

• paying for major vacation

• savings for children”s education

• saving for retirement

Identify long-term financial goals

• buying a dior bag

• buying a iphone20

• buying an ipad

• saving for retirement

What are the different types of income and expenses in a financial plan?

• Fixed Income, Variable Income; Active Expenses, Passive Expenses

• Active Income, Inactive Income; Constant Expenses, Variable Expenses

• Active Income, Passive Income; Fixed Expenses, Variable Expenses

• Total Monthly Income, Monthly Savings, Income Balance, Monthly Expenses

Which of the following is not an attributes of an effective financial plan:

• set aside 10% savings of total income

• Prioritise fixed expenses such as monthly instalments, credit card bills and more

• negative cash flow should be dealt with by reducing variable expenses or increasing sources of income

• set aside extra savings for emergency funds

Johnny is going to buy a car that is worth RM 56000 in 5 years, how much does he need for the monthly savings?

• RM 11200

• RM 1120.22

• RM 321.21

• RM 933.33

The table beside shows the planned expenditures and actual expenditures of Mr. Mazlan in a month.

Which of the following expenditures is required to reduce in order to achieve the planned expenditures of Mr Mazlan in that month?

• Living costs

• Entertainment

• Car fuel

• Utility bill

John earns a monthly income of RM5500. He has RM300 in pre-tax deductions and pays RM800 in taxes. What is John’s net monthly income?

• RM5000

• RM4400

• RM5200

• RM4700

Financial goals usually set at the ___________.

• end of the year

• beginning of the year

• midyear

• beginning of second quarter

Madam Latifah have RM3100 a month, she set a saving of 10% from ger net salary.

Calculate the monthly net income of Madam Latifah.

• -RM 300

• -RM10

• RM 300

• RM10