JavaScript isn't enabled in your browser, so this file can't be opened. Enable and reload.
Financial Literacy Quiz
Find out how smart you really are when it comes to all things money related. Be smart and
start investing today
#befranc
* Indicates required question
What do you call it if you buy 10 lotto tickets worth R5 each?
*
1 point
Saving
Investing
Gambling
Speculating
What is 15% of R150?
*
1 point
R15
R22.50
R30
R60
Suppose you put R1,000 into a savings account earning 5% a year. After 5 years, how much interest would you have earned assuming you made no withdrawals and any interest earned accrued (paid out) monthly?
*
1 point
More than R250
Exactly R250
Between R50 and R250
R50 or less
Your bank lends you money so that can can buy the car you always wanted. What describes the loan best?
*
1 point
It's an asset
It's an expense
It's a liability
It's an investment
Who determines the prices of shares on the stock exchange?
*
1 point
Each listed company
The Stock Market Pricing Committee
The bids/offers of buyers and sellers
The Minister of Finance
You suddenly have to pay for a small emergency but have no savings - so you need to borrow money. Which debt is likely to be the cheapest?
*
1 point
Your credit card
A personal loan from a bank
An unsecured loan from a microlender or loan shark
Your access bond (home loan)
What best describes the prime lending rate out of the options below?
*
1 point
The rate banks lend to one another
The base rate banks use to determine the interest charged on home loans
Another name for the repo rate
The interest rate paid on fixed deposits
Jack & Jill are twins. At age 20, Jill starts saving R100 a month into a retirement annuity (RA) but stops contributing when she's 40. Jack starts contributing R100 per month when he's 40. Suppose their RA's both grow 10% per year. When they both retire at 60, who has more money in their RA assuming no withdrawals?
*
1 point
Jack
Jill
They will have the same amount
Depends on fees
If you invest in the stock market
*
1 point
You become a part owner of listed companies
You have lent money to the stock exchange
You are liable for companies' debts
The companies you invest in will repay your investment with interest
One can earn a return on stocks through:
*
1 point
Buying low and selling high
Borrowing stocks to sell high and buy low
Receiving dividends
All of the above
Suppose you had R10,000 in a savings account with a 2% interest rate, but inflation is 5% per year. After a year, which statement is the most correct?
*
1 point
Your money has a real growth rate of 2% per year
Your money is worth more today than a year ago
Your money is worth less today than a year ago
Your money is worth the same vs. a year ago
If you have R10,000 to invest in the stock market, which strategy is the least risky?
*
1 point
Buying your favourite company's stock
Split 50/50 between two companies
Choosing a company at random
Buying an index-tracking ETF
What does
not
contribute to your credit score?
*
1 point
The number of loans you apply for
How much you have invested
If you default on a loan
The amount of money still owed
Suppose you pay off a 20-year mortgage in 15 years. Which statement is most true?
*
1 point
You paid more interest than you would have paying it in 20 years
You paid the same amount of interest than you would have paying it in 20 years
You paid less interest than you would have paying it in 20 years
There is no benefit in paying off the mortgage more quickly
Suppose you owe R1,000 on a credit card and the interest rate you are charged by the bank is 20% per year, accrued monthly. If you didn't make any repayments, how many years would it take for the amount you owe to double?
*
1 point
Less than 2 years
2 to 5 years
5 to 10 years
More than 10 years
Which of the following indicates the highest probability of winning?
*
1 point
1 in 20 chance
2%
25 out of 1000 win
1:25
What are capital gains?
*
1 point
The profit from the sale of an asset
Taxes you pay on interest earned
Same as inflation
The value of your investment
How much tax would you have to pay for your investments if they earned R50,000 in
interest in a given year?
*
1 point
R5,000
The R50,000 would be taxed at my marginal tax rate
The R50,000 less the annual exclusion would be taxed at my marginal tax rate
Nothing, interest isn't taxed
Suppose you receive R1,000 in dividends into your investment account. How much tax would you have to pay on the R1,000?
*
1 point
Less than R 200
More than R200
Exactly R200
Nothing, I would have already paid the tax owed
A tax free savings account means
*
1 point
Your contributions are tax deductible
All returns (the interest, dividends or capital gains earned) are tax free
Your contributions are tax deductible and all returns are tax free
Only the interest earned is tax free
Submit
Page 1 of 1
Clear form
This form was created inside of Franc.
Report Abuse
Forms
