Financial Literacy
What does ATM stand for in banking?
Automated Teller Machine
What is Singapore's central bank called?
Monetary Authority of Singapore (MAS)
Which concept explains why sellers of good-quality used cars are driven out of the market?
Adverse selection
What do you call the initial funding used to kickstart a new business venture?
Seed capital
What does IMF stand for?
International Monetary Fund (IMF)
What is the term for income earned from investments, not work?
Passive income
What is Singapore's current GST rate as of 2025?
9%
What type of good is both excludable and rivalrous?
Private good
Which Singapore-based online marketplace became a regional tech giant?
Carousell
What country is the world's third largest economy by GDP?
Germany
What percentage return would double your money in 10 years, according to the rule of 72?
7.2%
What is the name of Singapore's long-term national savings fund?
Central Provident Fund
What type of tax is levied based on the assessed value of a transaction or a property?
Ad valorem tax
Which Singapore government agency provides grants like the Startup SG Founder scheme to encourage entrepreneurship?
Enterprise Singapore
Which global organisation promotes free trade among 160+ nations?
World Trade Organisation (WTO)
What do we call the fee charged annually by mutual funds to manage your investments?
Expense ratio
What tool does MAS primarily use for its monetary policy?
Exchange rate policy
Name the type of government failure that occurs when government agencies are dominated by the very firms they are set up and supposed to regulate.
Regulatory capture
What is the name for a company worth over $1 billion?
Unicorn
Which country has the highest foreign exchange reserves as of 2025?
China
What does APR stand for in the context of borrowing money?
Annual Percentage Rate
Name one major regional trade agreement Singapore is part of.
RCEP/ CPTPP
What is the name of the phenomenon where overuse of shared resources leads to depletion?
Tragedy of the commons
Which legal structure protects a business owner's personal assets while allowing the business to be taxed separately?
Limited Liability Company (LLC)
Which country experienced the highest average annual inflation rate among OECD countries from 2021 to 2024? (driven by currency devaluation and fiscal mismanagement)
Turkey