Question 1Which of this is a long term financial goal?

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  Saving for a holiday abroad.
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  Investing for retirement
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  Saving to buy a car
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  Saving to buy a high end mobile

Question 2Why do successful people set financial goals?

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  Goal setting measures progress towards targets and milestones.
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  Goal setting gives a sense of direction.
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  It gives you an opportunity to show off.
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  Both 1&2.

Question 3I should invest in stocks by:

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  Taking a personal loan.
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  Use money from the emergency fund
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  Borrow from relatives and friends
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  Investing that which you can afford to lose.

Question 4I should buy life insurance for:

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  Tax benefit
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  Savings benefit
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  Investment benefit
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  Protection of my family.

Question 5For tax assessment, income of minor child has to be clubbed with the income of higher earning parent

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  True
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  False

Question 6Which investment offers higher interest?

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  PPF
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  Fixed Deposit
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  NSC
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  Mutual Fund

Question 7Which of this loan product doesn’t require security/collateral?

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  Home Loan
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  Car Loan
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  Personal Loan
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  Loan against property

Question 8What happens if you file ITR with wrong form?

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  Return is processed
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  You will have to file revised returns
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  You may have to file revised return
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  You don’t get tax refund

Question 9If you start smoking after buying term insurance

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  Declare this to the insurer.
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  Don’t declare this to the insurer.

Question 10You can’t take a loan against:

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  Fixed Deposit
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  Endowment life insurance Plan
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  Term Life Plan

Question 11Is interest on fixed deposit taxed?

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  Yes
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  No

Question 12What is Risk Profile?

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  Ability to bear risk
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  Willingness to bear risk
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  Both 1&2
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  Only 1 is correct

Question 13Which of the following doesn’t enjoy tax benefits?

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  Home Loan
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  Term Life Plan
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  Health Insurance Premiums
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  Car Loan

Question 14What is a network hospital?

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  The hospital where you are treated
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  Insurer has tie-up with this hospital.
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  The insurer owns the hospital.
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  Any nearby hospital.

Question 15Who is a Third Party Administrator?

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  The manager of a bank
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  The insurance agent
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  The doctor who treats you
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  The mediator between the insurer and the hospital.

Question 16Pension payouts from pension plans taxed?

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  Yes
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  No

Question 17Life insurance plan with no survival benefit

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  Endowment life insurance plan
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  Whole Life Insurance
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  Money Back plan
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  Term life plan

Question 18Which death not covered under term insurance?

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  Accidental Death
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  Death due to disease
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  Death due to dangerous sports
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  Death while abroad.

Question 19Is term insurance claim settled for death outside India?

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  Yes
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  No

Question 20Which of this is a bad loan?

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  Home Loan
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  Education Loan
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  Personal Loan
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  Car loan to buy a car you need.