Financial independence

Which of the following is the key component of budget

• Tracking all your expences

• Ignoring small purchages

• Spending all your income

• All of the above

Which of the following is true for financial independence

• Savings = Income - Expenses

• Expenses = Income - Savings

What is financial independence

• Having no debts

• Need not to work

• Work as per your wish

• All of the above

Who quoted "Compounding is the eight wonder of the world "

• Einstein

• Newton

• Abdul Kalam

• Nirmala seetaraman

What is the recommended amount to be saved for emergency fund

• 1-2 months of living expenses

• 3-6 months of living expenses

• One year living expenses

• Not needed for employees

Why Life insurance is needed

• To meet medical expenses for you and your family

• To support your family after demise

• To save for your retirement

• All of the above

What is the ideal amount for term policy for you

• One year salary

• Ten years salary

• Twenty years salary

• Five years salary

Which is not correct

• Ulips are not recommended for young investors

• Senior citizens are not recommended to invest in stock market

• Term policy should not be taken for beyond 70 years

• None of the above

Which is the most important single factor that decides the Returns on investment

• Rate of interest

• Amount of investment

• Time period invested

• All of the above

Which is not correct

• Rule of 72 for doubling time for investment

• Rule of 70 to know impact of inflation on capital

• 100 - Age in years for Asset allocation

• 10% Rule for safe withdrawal amount after retirement