Quiz 2

Basic Finance Quiz

  1. PAN Means
  2. Permanent Account Number
    Primary Account Number
  3. Education Loans
  4. Cover tuition fee & expenses
    Are repayable after completion of course
  5. Can Illiterate Person Be Issued Debit Card?
  6. Yes
    Only in case of joint account
  7. NEFT Stands For
  8. National Electrical Fund Transfer
    National Electronic Fund Transfer
  9. RTGS Stands For
  10. Ready Time Gross Settlement
    Ready Time Grocery Settlement
    Real Time Gross Settlement
  11. KYC Means
  12. Know your character
    Know your customer
  13. What Is RuPay Debit Card?
  14. Introduced by National Payments Corporation of India
    Accepted at all ATMs & PoS machines
    All of above
  15. ATM Password To Be Shared Only With
  16. Obedient son
    None of above
  17. Internet Banking Refers To
  18. Opening of account through ATM
    Operation of account through internet
  19. In Recurring Deposits,
  20. interest is paid at FDR rate
    a fixed sum is deposited every month
  21. What is a budget?
  22. A spending plan showing sources and uses of income.
    A limit on spending that cannot be exceeded.
    The amount of money that a credit card will let you charge without penalties.
  23. Your bank just notified you that your 12-month Certificate of Deposit (CD) is maturing. What factors are important to consider before you decide to let it automatically renew?
  24. There is a good chance you might need the funds in a shorter time frame.
    Interest rates have gone up since you opened the CD.
  25. Which of the following would hurt your credit score?
  26. Paying off student loan debt.
    Closing a long-held credit card account.
    Getting married.
  27. Which savings strategy will get you to $1 million in the bank by age 65, assuming 8% annualized returns?
  28. Save $200 a month, starting at age 20
    Save $400 a month, starting at age 30
    Save $800 a month, starting at age 40
  29. Which of the following would be expected to hold its value best during a time of inflation?
  30. A corporate bond.
    A house.
    A certificate of deposit.