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InvestEnable Advisory Services - Take this Financial Intellegence Quotient Quiz

Description

The financial quotient is a very important aspect which determines your financial knowledge, attitude and behavior about your personal finance. The given quiz have few multiple choice questions that measure the fundamental concepts which are important for financial decision-making. We at InvestEnable Advisory Services wants to gauge your "Financial IQ" so that we can help everyone associated with us have a better grasp on the financial concepts thus leading you to Financial Well-Being. The "Fina
Sumit Jha
Quiz by Sumit Jha, updated more than 1 year ago
Sumit Jha
Created by Sumit Jha about 4 years ago
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Resource summary

Question 1

Question
What is the full form of EMI?
Answer
  • Equated Monthly Installment
  • Easy Money Installment
  • Equal Monthly Installment
  • Equated Monetary Installment

Question 2

Question
Two colleagues Vikas and Amit in a office decides to invest in Share Market an amount of INR 10 Lacs. Vikas invested his entire principal in stocks of ABC Ltd. Amit, on the other hand, decided to spread his investment across stocks of 5 companies. In the event of stock market going down, who is at the risk of losing more money?
Answer
  • Amit
  • Vikas
  • Both Amit and Vikas
  • None of the Above

Question 3

Question
You go to a near by grocery shop to purchase 1kg of sugar,which is being offered for Rs 50. Last year you purchased the same for Rs 45. Your purchasing power has:
Answer
  • Increased
  • Decreased
  • Remains unchanged
  • First Increased then decreased

Question 4

Question
If you want to invest in mutual funds for retirement planning and your age is between 30-40 years, then for how long you should stay invested and what should be your investment horizon?
Answer
  • Medium term horizon
  • Short term horizon
  • Long term horizon

Question 5

Question
Insurance is a form of risk cover and should not be treated as an investment
Answer
  • True
  • False
  • Can't Say
  • Maybe

Question 6

Question
Experts recommend that your emergency fund contain enough money to cover at least 3-6 months worth of living expenses – which is the best place to keep these emergency funds?
Answer
  • Long term Investment Heavens
  • Keep in Cash
  • Short term Liquid Investments
  • None of the Above

Question 7

Question
Suppose you need to borrow INR 1 Lac, which is the lower amount to pay?
Answer
  • INR 1.05 Lac
  • INR 1 Lac plus 3%
  • INR 1 Lac plus 5%

Question 8

Question
Which is a riskier investment?
Answer
  • Investing in PPF
  • Investing a Fixed Deposit
  • Investing in Government Bond
  • Investing in Corporate Bond Fund

Question 9

Question
Which type of compounding frequency will give you the highest compound interest?
Answer
  • Annual
  • Monthly
  • Weekly
  • Quarterly
  • Semi-Annually
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