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- 1. Multiple Choice
What is the meaning of wants?
Something that you do not necessarily need it, but you still want it for luxurious lifestyle.
Something that is needed to live
Something that you cannot live without it
Something that you like.
- 2. Multiple Choice
Which of the following financial goals does not meet the SMART concept?
Save RM5 000 as registration fees of college after 2 years
Buy a new watch worth RM500 by next year
Save RM2 000 to buy video games by next year
Save RM5 000 to bring parents on vacation to Japan.
- 3. Multiple Choice
What do you need to do within the process of evaluating financial statues?
Evaluate assets owned
Evaluate assets owned and liabilities borne
Check savings and investments owned
Check credit cards debts
- 4. Multiple Choice
The followings are elements of the financial management except
debts and savings
purification of property
savings, investmensts and protections
budget
- 5. Multiple Choice
Choose the correct way to review and revise the progress of a financial plan.
Financial management does not need regular review.
Review effects of financial management on regular basis.
Ask older people.
Budget made must be followed despite the changing in income and needs.
- 6. Multiple Choice
The followings are the five financial management process.
I. Evaluating financial status
II. Carrying out financial plan
III. Reviewing and revising progress
IV. Setting goals
V. Create financial plan
Which of the followings is the correct order of financial management process?
I, IV, V, III, II
IV, I, V, III, II
IV, I, V, II, III
I. IV, V, II, III
- 7. Multiple Choice
Which of the following is the correct example of asset and liability?
Asset: Loan Liability: Credit card debts
Asset: Tax Liability: Real estate
Asset: Unit trust Liability: Instalment balance
Asset: Saving Liability: Property
- 8. Multiple Choice
Mr. Spark spends RM2 500 for household expenses every month. How much is the minimum emergency fund needed by him based on Bank Negara Malaysia suggestion?
(Hint: Emergency fund is the amount Mr. Spark should have to spend on household if he suddenly doesn't have any income)
RM15 000
RM10 000
RM7 500
RM12 000
- 9. Multiple Choice
Based on the example below, which items need to be included in a financial plan?
I. Insurance
II. Emergency fund
III. Savings and investments
IV. Debts management
II and III
I, II and III
II, III and IV
I, II, III and IV
- 10. Multiple Choice
Choose the correct way to evaluate financial position.
Credit statement
Balance sheet
Credit flow
Budget
- 11. Fill in the Blank
Fill in the blanks.
Setting goals --> ______________ ---> Creating financial plan ---> carrying out financial plan ---> Reviewing and revising the progress
- 12. Fill in the Blank
What does 'A' represent in the SMART concept?
- 13. Multiple Choice
Mr Bean's has a financial goal. He wants to install an air purifier worth RM2 000 in his mother's room next year.
Is this a short-term goal or long-term goal? Is this financial goal a need or a want?
short-term goal
long-term goal
need
want
- 14. Multiple Choice
Mario also has a financial plan. He wants to save RM10 000 for wedding expenses after five years. Is this financial goal a long-term or short-term goal? Is this considered a want or need?
short-term goal
long-term goal
need
want
- 15. Multiple Choice
Raymond has a financial goal to purchase a video game worth RM1 500 next month. Is this a long-term goal or short-term goal? Is this a need or a want?
short-term goal
long-term goal
need
want
- 16. Multiple Choice
A financial goal must be specific, measurable, attainable, realistic and long time frame.
TRUE
FALSE
- 17. Multiple Choice
Tax is a liability.
TRUE
FALSE
- 18. Multiple Choice
A comprehensive financial plan should include wealth build-up, debts managements, insurance coverage, expenses and purification of property.
TRUE
FALSE
- 19. Multiple Choice
How many percentage should a person save from their monthly income?
5%
8%
10%
20%
- 20. Multiple Choice
The following shows part of Mr Jason's financial management process.
- To save for emergency fund
- To buy a laptop
- To buy a terrace house in 10 years by paying RM60 000 as a down payment.
What step in the financial management process did Mr Jason take?
Evaluating financial status
Carrying out financial plan
Setting financial goals
Creating a financial plan
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