Personal Finance Quiz – Niiv Learning Labs

Q1. Commonly used in mutual Funds, SIP stands for-*

Systematic Investment Plan

Systematic Income Plan

Systematic Investment Programme

Systematic Interest payment

Q2. The relationship between risk and return can be stated as*

Higher risk indicates higher return

Higher risk indicates lower return

Lower risk indicates higher return

No relationship exists between risk and return

Q3. Section 80C of Income Tax Act allows certain deductions provided the amount is invested into certain schemes like FDs, Life Insurance etc. What is the max amount of deduction you can claim under this section?*

50,000

2,50,000

1,50,000

1,00,000

Q4. How much of monthly income should ideally go towards repaying different loans and credit card dues?*

Less than 20%

Between 20-40%

Between 40%-50%

More than 50%

Q5. Your debit card is missing since morning. You have made extensive effort but cannot find it and are sure that it has been stolen. Of the following, what is the best possible action you should take?*

Wait at least 90 days to report the card as missing or stolen in case you find the card.

Close your bank account.

Notify the bank and get the card blocked ASAP.

File a report with RBI.

Q6. Which of the following has the sole right of issuing paper notes in India?*

Union Government

Reserve Bank of India

Ministry of Finance

Supreme Court

Q7. A regulatory body set up to control trading of financial securities-*

SBI

SEBI

RBI

None of the above

Q8. The process in which the electronic holding of share replaces the paper securities:*

Demutualisation

Rematerialisation

Electronic Shares

Dematerialisation

Q9. Why do companies issue stocks?*

To create investment opportunity into other businesses.

To increase employee cooperation and an operating level.

To be traded individually

To raise money for economic investment and to fund operating costs.

Q10. RBI decided to increase its repo rate by 50 basis points. The current repo rate before hike was 4%. The new rate is-*

4.05%

4.5%

Q11. Bonus Question

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