
Financial Literacy
Authored by Reshma Susan
Life Skills
University
Used 2+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a budget?
A plan for how to spend and save money
A loan from a bank
A list of things you want to buy
A type of bank account
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fixed expenses are:
Expenses that change every month
Expenses that remain the same each month
Unexpected costs
Money set aside for savings
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much of your income is generally recommended to be saved?
50%
10-20%
5%
30%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an emergency fund used for?
Buying luxury items
Covering unexpected expenses like medical bills or car repairs
Investing in stocks
Paying regular monthly bills
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between needs and wants?
Needs are essential for survival; wants are things you desire but can live without
Needs are always more expensive than wants
Wants are things you must have to live
There is no difference
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of a savings account?
To spend money easily
To earn interest and save money safely
To take out loans
To buy stocks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following accounts is best for daily transactions?
Savings account
Checking account
Fixed deposit account
Investment account
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