[ENTREP] Quiz 1

Is a wealthy individual who uses personal money to help fund a start-up venture

• angel investor

• venture capitalist

• angel investor and venture capitalist

• social entrepreneur

• technopreneur

Using rule of 72, how long does it take to double 8000 pesos at a compound rate of 6% per year?

• 8 yrs

• 10 yrs

• 12 yrs

• 14 yrs

• 16 yrs

What could be a good example of a clearly written financial goal?

• to save money for college for the next 5 years

• to pay off credit card bills in 12 months

• to invest in an international mutual fund for retirement

• to establish an emergency fund of 4000 in 18 months

• to win once in a lifetime jackpot in the lottery

What financial product is describe as a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium?

• credit card

• insurance

• loan

• time deposit

• uitf

Which of the following benefits of financial planning can be enjoyed by a student like you?

• control inflation

• spend wisely

• control unemployment rates

• control inflation and spend wisely

• spend wisely and control unemployment rates

Form of security that indicates the holder has a portion of ownership in a corporation

• insurance

• shares

• stocks

• insurance and shares

• stocks and shares

Social enterprise _____ profit

• maximizes

• optimizes

• minimizes

• flexes

• averages

Which of the following pertains to a plastic payment card that can be used instead of cash when making purchases?  

• • Credit card

• • Debit card

• • ATM card

• • Credit card and Debit card

• • ATM Card, Credit card and Debit card

Using simple interest method, compute for the net interest income if you decided to put Php 800,000 in a time deposit account from February 1, 2024 until May 1, 2026 with a return of 3% p.a.  

Which of the following statements below BEST explains the importance of financial literacy/ personal finance in our everyday lives by teaching us “to invest in our future as well as that of our children”?

• • Option A. Financial literacy also contributes greatly to the country’s economy

• • Option B. When a person is financially literate, he can maximize his monthly salary and be able to make ends meet without getting into debt

• • Option C. When you learned enough and have already mastered the way you handle your money, you can start investing in something that you can reap in the future

• • Options A and B

• • Options B and C