Personal Finance- Managing personal finance
Authored by Suganthini Alaguras
Financial Education
10th Grade
Used 10+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of borrowing for an individual?
Mortgages
Credit cards
Premium bonds
Personal loans
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of an overdraft?
To save money
To invest in real estate
To fund short-term cash shortages through the current account
To earn interest
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is a key advantage of using an overdraft?
It is only available for large amounts
It requires a long-term commitment
It allows borrowing only when needed
Only pay interest on the amount borrowed
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the ownership of the item if all installments of a hire purchase are not paid?
The consumer gains ownership
The seller or lender retains ownership
The item is destroyed
The item is donated
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an advantage of payday loans?
Solves long-term financial problems
Quick access to funds when required
Low interest rates
No need for repayment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of payday loans regarding interest?
Interest rates are low
Interest rates are high
Interest is not charged
Interest rates are fixed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a financial issue that payday loans can solve?
Long-term debt
Short-term cash flow problems
High savings
Investment losses
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