Building and Enhancing MIDTERM Quiz 1

They defined financial literacy as the "ability to read, analyze, manage, and communicate about personal conditions that affect material well-being".

• Council for Economic Education

• Bangko Sentral ng Pilipinas

• National Endowment for Financial Education

• World Bank

It is otherwise known as the "Economic and Financial Literacy Act".

• RA 10929

• RA 10922

• RA 10229

• RA 10992

In 2015, they revealed that Philippines does not have a national strategy for financial education and literacy.

• Asian Development Bank

• World Bank

• Bangko Sentral ng Pilipinas

• Standard & Poor's Ratings

According to S&P's Ratings services survey, how many percent of Filipinos are financially literate?

• 75%

• 50%

• 35%

• 25%

They often live beyond their means and spend more than they earn.

• Frugal People

• Pleasure Seekers

• Powerful People

• Status

It occurs when one mindlessly purchases items that he or she does not need.

• Habitual Spending

• Impulsive Spending

• Fixed Expenses

• Variable Expenses

It occur regularly but the amount you pay varies.

• Fixed Expenses

• Variable Expenses

• Expenses

• Habitual Spending

Which of the following is not included in developing a spending plan?

• Review

• Record

• Set Goals

• Take Action

Which of the following is not an importance of saving?

• Emergency Bolster

• Retirement

• Future Events

• Stability of Social Security

In order to stick to the savings habit, you should not:

• Commit to a month

• List down your goal and monitor

• Allow tempting situations sometimes

• Find an accountability partner