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Finance Quiz

Authored by Shannelle Rebadavia

Business

University

Used 1+ times

Finance Quiz
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of life insurance?

Generate steady income stream

Protect against market risk

Provide guaranteed income

Provide financial protection for beneficiaries in case of the insured's death

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of annuity credits interest based on a minimum guaranteed rate and additional returns based on the performance of a market index?

Variable annuity

Indexed annuity

Immediate annuity

Fixed annuity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main advantage of annuities in terms of taxation?

Tax-deductible premiums

Tax-free withdrawals

Taxable income

Tax-deferred growth

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of annuities related to potential financial loss?

Steady income stream

Guaranteed income

Interest rate risk

Asset protection

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of retirement planning?

To prepare for a longer life

To maintain your standard of living

To leave behind a legacy

To fight inflation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of retirement account is NOT connected to your job or employer?

Personal Equity and Retirement Account (PERA)

PAG-IBIG Fund

Government Service Insurance System (GSIS)

Social Security System (SSS)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main advantage of life insurance over annuities?

Death benefit

Steady income stream

Lifetime payout option

Guaranteed income

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