UnicMinds

# Financial Literacy – Quiz

In our Financial Literacy course, based on the age of the kid we cover a range of topics starting from the basics of simple interest and compound interest to understanding the basics of ledger accounting and trading positions. For a very young kid, we would appropriately cover the necessary basics and percentage mathematics and build general awareness about banking and how money works. For a slightly aged kid, we would go a bit more deeper into different ways of compounding, inflation, interest rates, exchange rates, ledger accounting, journal entries, and basics of stock market.

In this post, we shall see some of the questions for which the course will help you prepare. Here is a list of sample questions.

Question 1:

A high interest rate helps importers, is it true or false?.

a). True      b).  False      c). Interest rate has no impact on importers

Question 2:

Is Cash an Asset or a Liability?

a). Liability    b). Asset     c). None

Question 3:

Remy deposited her money in a savings bank account that provides 5% interest per annum. If she deposited \$900 last year, how much will she have in the bank in one year?

a). 895      b). 954        c). 945          d). 995

Question 4:

When you’re expecting a stock to lose its value or decline in its value, what is that position called?

a). Short Position   b).  Long position    c). None

Question 5:

If you have a good credit history, at what interest rate will you get a loan from a bank?

a). High interest rate        b). Low interest rate       c). You will not get a loan       d). All

Question 6:

A sum of \$500 is invested in an asset providing 3% interest rate compounded annually. What is the sum returned after one year?

a). 525      b). 505       c). 515     d). 535

Question 7:

\$3500 is deposited at an interest rate of 1% per month. The account is compounded monthly. What is the amount in the deposit after 3 months?

a). 3506        b). 3606        c). 3505         d). None

Question 8:

A low interest rate would encourage people to invest. Is this true or false?

a). True      b). False

This is the end of this sample quiz. The actual quiz at the end of the course varies in length from 12 questions to 30 questions depending on the age of the child.

Hope this is useful, thank you.

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