Financial Literacy: Assignment-1

FINANCIAL LITERACY
ASSIGNMENT-1
CH SAI VARUN
191146
Questions
1)Which of The Following Is A Location Coin Minted Center?
A. West Bengal
B. Karnataka
C. Kolkata
D. Madhya Pradesh
Ans: Kolkata
2)Which Metal Is Used to Made Coins?

A. Stainless Steel
B. Alloy Steel
C. Ferrous Steel
D. Ferritic Steel
Ans: Ferritic Steel
3)Which One of The Following Is Passive Income?

A. Income from Salary
B. Royalty Income
C. Farming
D. Business
Ans: Royalty Income
4)EPF Stands For?

A. Employers Provident Fund
B. Employee Provident Fund
C. Employers Productivity Fund
D. Employee Productivity Fund
Ans: Employee Provident Fund
5)Rupay Card Is Accepted Over Many Merchant Outlets in India?

A. 10 Lakhs
B. 3 Lakhs
C. 5 Lakhs
D. 7 Lakhs
Ans: 5 Lakhs
6) Which of The Following Is Not True Regarding Digi Locker?
A. It A Key Initiative Under Digital India, The Indian Government’s
Flagship Program Aimed at Transforming India Into A Digitally
Empowered Society and Knowledge Economy.
B. Digi locker Ties into Digital India’s Visions Areas of Providing Citizens
A Shareable Private Space on A Public Cloud and Making All
Documents / Certificates Available.
C. Organizations That Are Registered with Digital Locker Can Push
Electronic Copies of Documents and Certificates Directly into Citizens
Lockers.
D. It Is Targeted at The Idea of Paperless Governance.
Ans: Digi locker Ties into Digital India’s Visions Areas of Providing Citizens A
Shareable Private Space on A Public Cloud and Making All Documents /
Certificates Available.
7) Which Is Not 8p’s To Consider Before Signing Contract?

A. Place of Jurisdiction
B. Penalty Clause
C. Percentage Rate
D. Profit Clause
Ans: Profit Clause
8) Steps in Financial Planning
1. Identify Financial Goals
2. Estimate the Time When the Goal Will Be Realized
3. Prioritize Goals
4. Estimate Amount Required for The Goal
Identify the Correct Sequence
A. 1-3-4-2
B. 2-4-1-3
C. 1-2-3-4
D. 4-2-3-1
Ans: Option A
9) The Increase or Decrease Is Done to Expenses Incurred in Previous Year
According to Inflation Is Called__________
A. Zero Base Budgeting
B. Incremental Budgeting
C. Normal Budgeting
D. Future Budgeting
Ans: Incremental Budgeting
10)Which Is Not A Depreciating Asset of The Following?
A. Car
B. Furniture
C. Antiques
D. Machine
Ans: Antiques
11)Which Is the Short-Term Financial Asset?

A. Stocks
B. Gold Bonds
C. Fixed Deposits
D. EPF/PPF
Ans: Fixed Deposits
12)Which Income Is Tax Free Income?

A. Salary
B. Rent Income
C. Pension
D. Agricultural Income
Ans: Agriculture Income
13) If Investment Doubles In “N” Number of Years Then Which Rule Is That?
A. Rule Of 72
B. Rule Of 115
C. Rule Of 144
Ans: Rule Of 72
14) Inflation Impact Can Be Analyzed Through Which of The Following Index?
A. Income Inflation Index
B. Cost Inflation Index
C. Budget Inflation Index
D. Liability Inflation Index
Ans: Cost Inflation Index
15) The Extra Return on The Investment Is Called ___________

A. Real Return
B. Actual Return
C. Nominal Return
Ans: Nominal Return
16)Which of The Following Investment Options Have No Risk at All?
A. Post Office Deposits
B. EPF/PPF
C. Liquid Mutual Funds
D. Bank Deposits
Ans: Post Office Deposits
17)Present Life Expectancy of India?

A. 70 Years
B. 65 Years
C. 50 Years
D. 60 Years
Ans: 70 Years
18) What Benefit Does Section 80 (C) Provide?

A. Provides Tax Benefits of Rs 1,50,000
B. Provides Discount Benefit of Rs 1,00,000
C. Provides Tax Benefits of Rs 80,000
D. None of The Above
Ans: Provided Tax Benefits of Rs 1,50,000/-
19)Which Type of Loan Is Bad?

A. Home Loan
B. Education Loan
C. Business Loan
D. Car Loan
Ans: Car Loan (Coz Its Depreciating)
20) Long Term Savings Must Grow at A Healthy Annual Rate Of _______?
A. 10%
B. 15%
C. 50%
D. 25%
Ans: 25%
21)Which Loan Providers Are Unregulated?

A. Banks
B. NBFC
C. Housing Finance
D. Chit Funds
Ans: Chit Funds
22) RTGS Stands For

A. Real Time Gross Settlement
B. Ready Time Gross Settlement
C. Ready Time Grocery Settlement
D. None of Above
Ans: Real Time Gross Settlement
23) Which Type of Deposits Earns Higher Interest Rate?

A. Current Account
B. Savings Account
C. Fixed Deposits
D. None of Above
Ans: Fixed Deposits
24) Strategy to Be Adopted to Handle High Impact & High Frequency Events
A. Risk Reduction
B. Risk Transfer
C. Risk Retention
D. Risk Avoidance
Ans: Risk Reduction

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FINANCIAL LITERACY

2)Which Metal Is Used to Made Coins?

3)Which One of The Following Is Passive Income?

4)EPF Stands For?

5)Rupay Card Is Accepted Over Many Merchant Outlets in India?

7) Which Is Not 8p’s To Consider Before Signing Contract?

11)Which Is the Short-Term Financial Asset?

12)Which Income Is Tax Free Income?

15) The Extra Return on The Investment Is Called ___________

17)Present Life Expectancy of India?

18) What Benefit Does Section 80 (C) Provide?

19)Which Type of Loan Is Bad?

21)Which Loan Providers Are Unregulated?

22) RTGS Stands For

23) Which Type of Deposits Earns Higher Interest Rate?

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