Financial Literacy - Quiz 6

What is the first step in protecting yourself against fraud or scam?

• Ignore all emails

• Be aware of the risks

• Invest in illegal schemes

• Share your personal information

What is the mechanism to report fraud or scam mentioned in the text?

• Sachet Portal

• Social Media

• Email Spam

• Phone Calls

What is the main focus of the CHAMPIONS platform for MSMEs?

• Encouraging fraud

• Promoting illegal schemes

• Solving problems and grievances

• Increasing taxes

What is the key advice given regarding credit and debit card fraud?

• Share your PIN with everyone

• Never share your PIN

• Use your PIN in public places

• Keep your PIN on a sticky note

What is the main warning regarding schemes that promise very high returns?

• They are legitimate

• They are fraudulent schemes

• They are risk-free

• They are government-backed

What is the purpose of the FACT programme launched by NCFE?

• To provide financial education to school teachers

• To promote credit card fraud

• To spread financial awareness among adults

• To encourage investment in illegal schemes

What is the Dos advice given for entrepreneurs in the text?

• Avoid calculated risks

• Build a network of mentors

• Ignore profit requirements

• Stay in isolation

What is the main focus of the MSSP programme by NCFE?

• Providing financial education to adults

• Promoting credit card fraud

• Improving financial literacy in schools

• Encouraging investment scams

What is the key advice given regarding personal finances in case of business failure?

• Plan for bankruptcy

• Plan for a new business

• Plan for a financial backup

• Plan for a vacation

What is the main focus of the FEPA programme by NCFE?

• Spreading financial awareness among adults

• Promoting credit card fraud

• Providing financial education to school teachers

• Encouraging investment scams