WorksheetsFINANCE QUIZ BOWL
Total questions: 20
Worksheet time: 10mins
A company has Current Assets = RM120,000 and Current Liabilities = RM60,000. What is its Current Ratio?
1.0
1.5
2.0
2.5
What is the role of open banking?
To let third parties access financial data with consent to build useful apps
To allow banks to share customer passwords
To completely replace credit cards
To block mobile apps from accessing bank data
Fauzi dies leaving RM120,000. He is survived by his wife, one son, and one daughter. What is the wife’s share?
RM15,000
RM20,000
RM30,000
RM40,000
Which of the following statements about Monthly Tax Deduction (MTD) is TRUE?
MTD is optional for employees with monthly income
MTD is a penalty imposed by the Inland Revenue Board
MTD is an advance payment of income tax made through deductions by the employer
MTD replaces the need to submit an income tax return form
Which of the following best describes Fintech?
Only mobile banking apps
Any technology that improves financial services
A way to eliminate all financial risks
A method for printing digital money
Aiman borrows RM5,000 at a simple interest rate of 8% per year for 2 years. How much total interest must he pay?
RM 400
RM 600
RM 700
RM 800
According to Faraid, how is inheritance distributed between a son and daughter?
Equal shares for both
Son receives double the share of a daughter
Daughter receives double the share of a son
Only sons are entitled to inheritance
What is the main risk of using consumer credit irresponsibly?
Higher savings
Debt accumulation
Lower expenses
Free money
Which of the following best explains how fintech can help Ali expand his business?
By giving guaranteed profits without risk
By providing quick, Shariah-compliant crowdfunding options
By charging high interest on loans
By replacing inheritance law with automation
Which of the following is the main purpose of investment?
To increase future wealth
To avoid paying tax
To guarantee no risk
To spend more money
Which of the following actions will most likely improve an individual’s credit score?
Frequently applying for new credit cards
Paying credit card bills on time
Maxing out credit card limits every month
Ignoring outstanding loan payments
Ahmad earns RM80,000 per year. Which strategy helps him reduce his taxable income legally?
Avoiding tax completely
Investing in approved retirement schemes
Hiding income from LHDN
Overstating personal expenses
What is the main purpose of estate planning?
To delay distribution of assets
To avoid paying debts after death
To manage and transfer property during life and after death
To increase estate taxes
Which of the following is TRUE about a will under the Wills Act 1959?
It can be written, oral, or by video recording
It must be in writing and signed by the testator
It is valid even without witnesses
It cannot be revoked once written
For how many years must taxpayers keep their tax-related documents, such as receipts and supporting evidence?
3 years from the filing date
5 years from the tax year
7 years from the end of the year the ITRF is filed
Indefinitely, as there is no specific requirement
Aiman has Liquid Assets = RM9,000 and his Monthly Take-Home Pay = RM3,000. What is his Liquidity Asset to Take-Home Pay Ratio?
1.0 month
2.0 months
3.0 months
4.0 months
Sarah takes a personal loan of RM10,000 with an annual interest rate of 12%, to be repaid in 12 equal monthly installments. What is the amount of interest she pays for the first month? (using simple interest)
RM80
RM90
RM100
RM120
What is the main purpose of robo-advisors?
To provide free insurance to investors
To automate investment advice using algorithms
To guarantee profits with no risks
To replace traditional banks completely
Which of the following is NOT considered part of a deceased person’s estate in Islam?
Money in EPF
Real estate and vehicles
Wealth acquired through haram means
Jewelry and savings
Ali owes RM3,000 on his credit card. Monthly interest = 2%. If he pays RM1,000, how much interest will be charged on the remaining balance next month?
RM 20
RM 30
RM 40
RM 50
