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WorksheetsCHAPTER 10 CONSUMER MATHEMATICS: FINANCIAL MANAGEMENT
Total questions: 14
Worksheet time: 24mins
Which of the following is/are the financial management process?
Setting goals
Evaluating financial status
Creating financial plan
Reviewing and revising the progress
All of the above
Which of the following is/are correct?
short term financial goals can be achieved less than 6 months
short term financial goals can be achieved less than a year
long term financial goals usually take more than 3 years
long term financial goals usually more than 10 years
Which of the following is not a key component in the SMART concept for goal setting?
Measurable
Time-bound
Specific
Aim
Which of the following is the wrong key component in SMART financial goals?
T - Time-bound
S - Systematic
A - Achievable
R - Realistic
M - Measureable
Which of the following is/are correct?
Fixed expense - dividends
Variable expense - rent
Active income - Allowances
Passive income - allowances
What has the same meaning as positive cash flow?
Surplus
Deficit
What has the same meaning as negative cash flow?
Deficit
Surplus
Calculate the cash flow for Miss Sorayya.
Active Income : RM3,300
Passive Income : RM300
Fixed Expenses : RM 1,800
Variable Expenses : RM 250
Write down your answer without the (RM)
(a)
Calculate the cash flow for Mr. Rabbani
Active Income : RM3,000
Passive Income : RM350
Fixed Expenses : RM 2,300
Variable Expenses : RM 250
Then, determine whether it is Deficit or Surplus.
-800 (Deficit)
1000 (Surplus)
800 (Surplus)
-1000 (Deficit)
How much is Puan Soffia's monthly saving if she wanted to pay the down payment for a RM650,000 house in six years?
RM1111.78
RM1000.78
RM900.00
RM902.78
Among the following individuals, who sets the SMART goals?
Puan Hadirah intends to buy a laptop which costs RM3,000 as a birthday gift for her son. Therefore, she plans to save RM300 a month for ten months
Mr Hazry is a teacher with an income of RM3,000 and plans to get married in two years' time. The wedding expenses are estimated to be RM30,000. Therefore, he wants to save RM1,000 a month for a period of two years. Besides that, she also plans to get a loan for the wedding expenses.
Miss Hazwanyza wants to buy a house worth RM200,000 if she has sufficient amount of money
When do we set aside the money for the 10% savings?
After engaging the expenses
Before engaging the expenses
Which of the following should be considered when developing a long-term financial plan?
Inflation Rate
Interest Rate
Personal Health
Please create a financial plan for Miss Dhia.
Salary : RM6,000
House/apartment loan, including maintenance : RM 500
Car instalment : RM700
Travel : RM500
Rental : RM 1,500
Transport fares : RM900
Utility bills : RM250
Toll payments : RM100
Groceries : RM400
Allowances for parents : RM600
Insurance : RM 200
Savings 2% from salary
Then determine whether Miss Dhia's cash flow is negative or positive.
You will discuss this question with your subject teacher during the discussion session.
[5 marks]
