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Assess your personal finance quotient [quiz]

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So here is a small quiz that will test your personal finance gyaan. The fact that you are on this blog means that you want to read about financial planning and personal finance in general. You must have rummaged through other websites and magazines to hone your knowledge.

So why not put it to test ?

Below are 7 basic questions that test your knowledge. Answer them and let us know in the comments sections how many you got right and which ones. Let us see how many can make it 100% correct.

[mtouchquiz 1]

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Comments

  2. Soubhagya Kumar Patra says

    Hi,
    One of the answers to the above question (Question no: 7 ) “The tax exemption available on interest paid on a loan is available for 8 years” :- Is it so..??

    Also, it is not clear what kind of loan. Whether its an education or home loan, I think there is no such time limit. Please clarify.

    Thanks in advance.

    • TheWealthWisher says

      Sorry, I missed the word education loan and have corrected the question now. The answer remains correct. Thanks Soubhagya for pointing it out.

  3. Aparna says

    Nice Quiz.. Kindly keep on running such Quiz.. It will really help us to evaluate our Financial planning knowledge..

    Anyways, my score was 3/7. So I need to keep trying.. 🙂

    • TheWealthWisher says

      3/7 is not bad at all. It is good – I will put in more quiz in the future. Thanks for your feedback.

  4. Sandeep Sudhakaran says

    Thanks.It was nice experience to take part in this short quiz and test my knowledge in personal finance (SCORE 4/7) . Was something different than usual activity of reading financials blogs.Please do come back with such quizes with more set of questions.

  6. some1 says

    6/7
    Got the liquidity question between FDs & FMPs wrong. Can u explain?
    I have an online fixed deposit with SBI for emergency purpose.
    If I apply for redemption between 8am to 8pm I get the money immediately & if I apply between 8pm to 8 am I get the money at 8 am.
    I had done this once. Applied for redemption around 11pm. Got an sms aroung 8:15am informing me that the money had been transferred to my account

    • TheWealthWisher says

      The point is that FMPs are traded and so one can get out of them more easily than FDs.

      • some1 says

        I beg to differ.
        Because my money is illiquid for a maximun of 12 hours.
        I meant to say that I can apply for redemption at night (8pm-8am) and get the money in the morning & if I redeem during the day (8am-8pm) I get the money immediately.

        • TheWealthWisher says

          Apart from the time, the probability of making the money liquid is also a factor. This is a debatable answer and that is why there was a 3rd option inthe answer which said Both of them are liquid, however I put the correct one as FMPs. Let me see whether I can do an article on this to showcase with some examples.