FINANCIAL LITERACY

What is the purpose of CPF

• To provide unemployment benefits

• To help with savings for retirement

• To fund govt infrastructure

What is the 50-30-20 rule?

• 50% needs, 30% wants,20% savings

• 20% needs, 50% wants,30% savings

• 30% needs, 20% wants,30% savings

What is CPF

• Citizens Provident Fund

• Central Provident Fund

• Capital Pension Funds

What comes under short term budgeting?

• Property Purchase

• School notes

• Entertainment

Full Form of OA

• Ordinary Account

• Official Account

• Outstanding Assets

Which of the following is a tax relief available for CPF contributions?

• CPF live relief

• CPF top up relief

• CPF voluntary relief

What is the term diversification mean?

• Spreading investments across various assets

• Putting all savings in fixed deposits

• Investing in only one sector

Which of these is a benefit of SRS?

• Tax deducutions on contributions

• Unlimited Withdrawls

• No contribution limit

Transport fares are going up in December. How much are journeys going to increase by? (Adult fare)

• 10 cents

• 5 cents

• 2 cents