WorksheetsPersonal Financial Management
Total questions: 10
Worksheet time: 6mins
What does PFM stand for?
Personal Financial Management
Personal Fund Management
Public Financial Management
Private Fund Management
Which of the following is an example of a short-term financial goal?
Retirement planning
Buying a smartphone
Buying a second home
Building a corpus of 1 crore
The “Rule of 72” is used to estimate:
Taxable income
Life insurance coverage
Loan repayment duration
Time to double an investment
What is the main purpose of Personal Financial Management?
To increase taxes
To run a company
To manage personal income and expenses
To borrow money
What does a “SMART” goal in financial planning stand for?
Simple, Manageable, Active, Real, Time-free
Secure, Maintainable, Accurate, Reliable, Tested
Specific, Measurable, Achievable, Relevant, Time-bound
Savings, Money, Assets, Risk, Taxes
Raju’s family wants ₹30,00,000 in 5 years at 10% annual return. The required monthly SIP is closest to:
₹18400
₹28400
₹48400
₹38400
Which budgeting rule divides income into needs, wants and savings in percent in same sequence?
30/40/30 rule
50/30/20 rule
50/20/30 rule
40/30/30 rule
Emergency funds should ideally cover:
3–6 months of expenses
1 week of expenses
1 month of expenses
10 years of expenses
Which of the following is a long-term goal (10+ years)?
Paying credit card debt
Renovating home
Saving for retirement
Buying a smartphone
If an investment grows at 9% annually, according to the Rule of 72, it will approximately double in:
6 years
8 years
9 years
8 years
