FINANCIAL LITERACY

According to the text, what is the definition of financial literacy?

• The ability to use knowledge and skills to manage financial resources effectively.

• The ability to provide basic needs and contribute to the community.

• The ability to discern financial choices and discuss money without discomfort.

• The ability to read, analyze, manage, and communicate about personal financial conditions.

What are the key components of financial literacy mentioned in the text?

• Attitude towards money and investment.

• Understanding of economic perspectives and ethical decision-making.

• Mathematical skills and engagement in financial planning.

• Knowledge of financial products and concepts.

Which organization mandates DepEd to ensure economic and financial education in formal learning?

• Incharge Education Foundation

• National Endowment for Financial Education

• Council for Economic Education in the US

• Republic Act 10922

What was the finding of the World Bank study in 2014 regarding Filipinos' saving habits?

• None of the Filipinos saved money or had bank accounts.

• All Filipinos had bank accounts and saved money.

• 20 million Filipinos had bank accounts but did not save money.

• Half of Filipinos saved money but did not have bank accounts.

According to the text, what percentage of Filipinos are financially literate based on the S&P Ratings services survey?

• Less than 10%

• More than 80%

• 25%

• 50%

What did the Asian Development Bank (ADB) study reveal about the Philippines in 2015?

• PH has a national strategy for financial education and literacy.

• PH does not have a national strategy for financial education and literacy.

• PH has a comprehensive financial education program.

• PH has the highest financial literacy rate in Asia.

What did Go (2017) indicate about the state of financial literacy in the Philippines?

• Less than 1% of the population is invested in the stock market.

• All Filipinos are financially literate.

• PH has a national strategy for financial education.

• More than 80% of the working middle class have formal financial plans.

What is the purpose of the Economic and Financial Literacy Act (Republic Act 10922)?

• To ensure economic and financial education is part of formal learning.

• To eliminate financial literacy programs.

• To mandate financial institutions to provide free services.

• To encourage risky financial behavior.

What did the Bangko Sentral ng Pilipinas (BSP) release in 2016 regarding financial inclusion?

• A report on the benefits of financial exclusion.

• A national strategy for financial literacy.

• A statement that financial literacy should complement financial services.

• A plan to restrict access to financial services.

What is the impact of increased personal financial literacy according to the text?

• Increased financial illiteracy.

• Decreased financial behavior.

• Improved financial decision-making skills and discipline.

• No impact on financial behavior.