WorksheetsFinancial Literacy CLASS 10 Quiz
Total questions: 40
Worksheet time: 20mins
Which fund transfer settles transactions in real-time?
Cheque
RTGS
IMPS
NEFT
Which of the following is a stock exchange in India?
NYSE
NSE
LSE
TSE
Which expense is NOT covered by Education Loan?
Books and equipment
Hostel fees
Personal vacation expenses
College fees
Which is NOT a function of a bank?
Providing loans
Accepting deposits
Printing money
Offering financial advice
Main purpose of GST?
Increase government revenue
Simplify tax structure
Decrease government revenue
None of the above
Which of the following is a benefit of GST?
Eliminates cascading effect of taxes
Increases compliance
Promotes ease of doing business
All of the above
Primary impact of inflation?
Stability in interest rates
Increase in interest rates
None of the above
Decrease in interest rates
What does EMI stand for?
Equated Monthly Instalment
Equal Money Investment
Enhanced Monthly Instalment
None of the above
Role of a financial market regulator?
Ensure fair trading practices
Protect investor interests
Maintain market integrity
All of the above
What does NAV stand for in mutual funds?
Net Asset Value
National Asset Value
Net Annual Value
National Annual Value
What should you never do with a blank cheque?
Deposit it without filling in the details
Write the amount first
Sign it
Keep it with the bank
Which of the following is a direct tax?
VAT
Service tax
Income tax
Sales tax
What is the future value of $100 investments made annually for 5 years at 5% interest compounded annually?
$127.63
$500
$552.60
$100
Which type of inflation occurs when demand exceeds supply?
Cost-push inflation
Built-in inflation
Demand-pull inflation
None of the above
A recurring deposit is typically:
An investment in stocks
A series of regular deposits
A one-time deposit
A type of loan
Which type of mutual fund is considered the safest?
Debt fund
Sectoral fund
Balanced fund
Equity fund
Purpose of diversification in investments?
To reduce risk
To increase risk
None of the above
To maximize returns
Main purpose of a financial market?
To offer loans
None of the above
To facilitate buying & selling of securities
To provide insurance
Who can operate a bank account independently (RBI guidelines)?
Minors with guardian’s consent
Minors above 10 years
Only adults
Only individuals above 18 years
Formula for calculating Simple Interest?
(Principal × Rate × Time) / 100
Principal + Rate + Time
Principal × Rate × Time
(Principal + Rate + Time) / 100
A fixed deposit account typically offers:
No interest
Higher interest rates than savings accounts
None of the above
Lower interest rates
Which of the following is a type of mutual fund?
Close-ended fund
Exchange-traded fund
Open-ended fund
All of the above
What is a secondary market?
Market where new securities are issued
Market where existing securities are traded
Market for commodities
None of the above
Primary benefit of investing in mutual funds?
Diversification
Guaranteed returns
None of the above
High returns with low risk
Which of the following is a benefit of GST?
Increases compliance
Eliminates cascading effect of taxes
Promotes ease of doing business
All of the above
What does a debit card do?
Enables borrowing money
Issues a loan automatically
None of the above
Allows spending money from own account
What happens to investor’s money during an NFO?
Used to buy individual stocks
Pooled with others’ money & invested as per scheme
Kept in high-interest savings account
Directly invested in real estate
Why prefer mutual funds over shares?
Requires less time and research
Guarantees higher returns
Eliminates all risks
Provides personal financial advice
Who manages mutual fund investments?
The investor
The fund manager
The bank
The government
When did GST come into effect in India?
1st July 2016
1st July 2017
1st January 2017
29th March 2017
Which type of insurance includes accident and health insurance?
Life Insurance
Marine Insurance
General Insurance
Social Insurance
What happens if you fail to repay a secured loan?
The bank increases the interest rate
The bank forgives the loan
The bank may seize the collateral
Nothing happens
What security is required for an Education Loan above 7.5 lakhs?
No security needed
Only Parent/Guardian as co-borrower
Tangible collateral security + Parent/Guardian as co-borrower
Third-party guarantee
Which of the following is considered wasteful expenditure?
Spending money allocated for stationery on chocolates
Saving money in a bank
Paying off debt
Buying necessary groceries
Which type of loan is often used to buy a house?
Payday loan
Home loan
Auto loan
Personal loan
Components of GST system in India?
SGST, CGST, UGST
LGST, CGST, IGST
SGST, CGST, IGST
SGST, CGST, FGST
A premium in insurance refers to:
Amount paid periodically to keep policy active
None of the above
Claim amount
Total coverage amount
Role of a mutual fund manager?
Select securities to invest in
Monitor performance of the fund
Manage pool of funds
All of the above
What is a New Fund Offer (NFO)?
A special tax on mutual funds
Launch of a new mutual fund scheme
A discount on mutual fund units
A type of mutual fund withdrawal
Primary function of SEBI?
Promote corporate finance
Regulate & protect investors in securities
Manage government securities
Provide financial education
