Financial Guru or Goondu
Financial Guru or Goondu
Test your financial knowledge with our engaging quiz designed to gauge your understanding of essential financial concepts. Whether you're a novice or an expert, this quiz will help you identify your strengths and areas for improvement in your financial journey.
- Learn about investment strategies
- Understand the importance of financial planning
- Discover if you're a financial guru or goondu!
If you are walking along a road and saw a $10 note and a $50 note which will you pick?
$10
$50
How much should a person minimally set aside for retirement/financial freedom?
Set aside one time every 10 month of spending.
$500 a month
10% of your income
Save all remaining balance after expenses
How to prepare financially for bad times?
Build an emergency funds
Surround yourself with good advisors
Save and invest 10% of income for retirement
Get adequate insurance
How much should I set aside minimally for Emergency Funds?
10% of my income
3 month of my income
3 month of my expenses
10% of myexpenses
A snapshot of your asset and liabilities is called;
Liabilities Statement
Balance Sheet
Income Statement
Cash flow Statement
How to attain financial freedom?
When you can buy the car of your dream in full cash
When my passive income is greater than my total expenses
When I get a 50% pay raise
When my monthly expenses is lower than my take home pay
Which one of these could earn you passive income
$500 in the bank
$500 gold chain
$500 in crypto currency
$500 USD
Which asset class con potentially generate Passive Income?
Gold & Precious Metals
Unit Trust
Foreign Exchange Trading
Bitcoin
What are Stocks
A kind of birds
Ownership in a corporation
Ownership in the goverment
Farm animals
When a banker talks about liquid asset, he is referring to
Assets that are easily converted to cash
Property with swimming pools
Asset that can easily melt
Investment than has gone down the drain
When it comes to Investment decision, which is more powerful?
Emotion
Logic
Emotional Logic
Logical Emotion
If you invest into a variety of assets to reduce risk, you are...
Capitalizing
Diversifying
Diversifying
Clueless
1-3 years horizon, which asset class is considered highest risk?
Saving Deposit
Unit Trust
Stocks
Bonds
>10 years horizon, which asset class will gurantee loss against inflation
Saving Deposit
Unit Trust
Stocks
Bonds
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