FIN533 QUIZ SET 1

If an individual has an aggregate income of RM80,000 and allowable deductions amounting to RM20,000, compute the assessable income.

 Calculate the interest amount for a personal loan of RM 20,000 with an interest rate of 5% per annum for a period of 3 years.

• RM3,000
• RM300

• RM1500

• RM2,000

If a person saves RM400 per month starting at age 30 and plans to retire at age 60, calculate the total amount saved by retirement assuming an annual interest rate of 6%.

Which of the following is a valid tax relief for lifestyle expenses in Malaysia?

• Purchase of a new car

• Payment of gym membership

• Holiday expenses

• Wedding expenses

What is the primary function of the Credit Tip-Off Service (CTOS) in Malaysia?

• To provide educational loans

• To offer financial planning services

• To collect and provide credit information

• To manage retirement funds

What is the main purpose of the Employees Provident Fund (EPF) in Malaysia?

• To provide healthcare services

• To offer education loans

• To ensure financial security during retirement

• To manage public housing projects

Which of the following is a major Provident & Pension Fund organization available in Malaysia?

• KWAP

• SOCSO

• SEDEF

• PERKESO

• A common issue in retirement planning is the _______ in purchasing power due to inflamation

 If an individual starts saving RM 500 per month at age 35 for retirement at age 65 with an annual interest rate of 5%, calculate the total amount saved by retirement.

Which of the following is a valid tax relief for lifestyle expenses in Malaysia?

• purchase of new car

• 
  Payment of gym membership

• Holiday expenses