HEALTH AND WEALTH QUIZ

A

10

Which of the following is NOT a good reason to borrow money?
A. To buy a house
B. To invest in education
C. To go on an unnecessary vacation
D. To start a small business

C. To go on an unnecessary vacation

10

What is a 'credit card'?

A. A card providing free money
B. A card for withdrawing only your own money
C. A cash card that allows you to borrow and pay later
D. A discount card

C. A cash card that allows you to borrow and pay later

10

 Why is saving money important?
A. To impress friends
B. To spend more
C. For future needs or emergencies
D. To waste less time

C. For future needs or emergencies

10

Life insurance means 

a) Insurance of human

b) Insurance of life of human and Cattle 

c) Insurance of Life of Machines 

d) All of above

a) Insurance of human

10

NEFT stands for 

a) National Electric Fund Transfer 

b) National Electronic Fund Transfer

c) National Electrical Fund Transfer 

d) None of Above

b) National Electronic Fund Transfer

B

10

ATM password to be shared only with 

 a) Spouse

 b) Obedient son 

c) Obedient daughter

d) None of above

d) None of above

10

What is compound interest?

A. Interest only on the main amount
B. Interest on interest earned
C. Interest you get from your phone
D. A type of simple tax

B. Interest on interest earned

10

What is interest?

A. Money you pay the bank for opening an account
B. A charge you pay for purchasing things
C. Money earned or received for working with money
D. A type of tax

C. Money earned or received for working with money

10

Which of the following are good money management habit

A. Spend within my means-

B. Keep track of my spending

C. Set up automatic transfers to a separate savings account

D. All of the above

D. All of the above

10

 What does ATM stand for?
A. All Time Money
B. Automatic Transaction Machine
C. Automated Teller Machine
D. Automatic Transfer Manager

C. Automated Teller Machine

C

10

What do you need to do before buying something big?

A. Purchase it right away
B. Make sure you can afford it
C. Borrow money without consideration
D. Disregard your budget

B. Make sure you can afford it

10

What if you miss a loan payment?
A. Your credit score gets better
B. You get interest
C. You pay penalties and harm to credit record
D. Nothing

C. You pay penalties and harm to credit record

10

What is an emergency fund?
A. Money for shopping
B. A loan taken during exams
C. Savings kept aside for unexpected expenses
D. Money spent on birthdays

C. Savings kept aside for unexpected expenses

10

What is RuPay Debit Card? 

a Domestic debit card 

b Introduced by National Payments Corporation of India 

c Accepted at all ATMs & PoS machines 

d All of above

d All of above

10

What is a budget?
A. A type of loan
B. A savings account
C. A plan for managing income and expenses
D. A shopping list

C. A plan for managing income and expenses

D

10

Which of the following can make your money increase over time?

A. Piling it in a piggy bank
B. Spending money fast
C. Investing money wisely
D. Stashing it in the house

C. Investing money wisely

10

What is 'debit'  (dr.) in your bank account mean?
A. Money deposited to your account
B. Money withdrawn from your account
C. A gift from the bank for free
D. A coin

B. Money withdrawn from your account

10

 Which of the following is considered a need, not a want?
A. A smartphone
B. Branded shoes
C. Water and food
D. Movie tickets

C. Water and food

10

PAN means -

a) A kind of utensil 

b) Primary Account Number 

c) Permanent Account Number 

d) None of above

c) Permanent Account Number

10

What is an e-wallet (digital wallet)?

A. A wallet made of actual paper
B. A kind of bank account
C. A computer program to keep and pay money
D. A mobile bank branch

C. A computer program to keep and pay money