Assessment Feedback-Financial Literacy
Total Time: 90 Minutes
Materials Required: Assessment printout for each student/google form link or any other platform where the assessment has been published (to be decided by programme management team)
This assessment and mentorship session will ensure that each student is aligned with the importance and objective of financial literacy. Making it clear that it’s not a subject to learn but a skill to practice in day to day life to have a financially secure future. Check with the programme management team whether the assessment will be conducted on paper or online through google form/any mobile app.
Activity 1: Assessment-Financial Literacy
Activity 2: Guidance by Trainer
Activity 3: Group Mentorship
This is what the trainer can do in mentorship meeting
Time: 25 minutes
There is no negative marking
Each correct answer carries 1 score
This assessment carries total 25 scores
To be done individually by each student
1) What is the full form of an ATM?
a) Any Time Money
b) Automated Teller Machine
2) Liquidity in terms of banking means?
a) How easily we get the cash
b) How easily we get the liquid
c) How easily we get the loan
3) What is a Passbook?
a) A rough book given by bank
b) A book through which we can track our transactions
c) A pass that allows us to enter the bank
4) Which of the following accounts is also called a deposit account?
a) Current Account
b) Savings Account
5) Which account does not give you interest?
a) Savings Account
b) Deposit Account
c) Current Account
6) What is overdraft?
a) Money paid through draft
b) Withdrawing more money than available in account
c) Doing transactions beyond the allowed limit
7) Income – Expense = _____________?
8) What is the meaning of Capital in Finance?
9) A premium can be paid in which of the following options?
d) All of the above
10) Insurance gives you ____________?
a) Financial Stability
b) Interest returns
c) Profit Shares
11) SIP Stands for?
a) Systematic Insurance Plan
b) Systematic Implementation Plan
c) Systematic Investment Plan
12) Is term insurance compulsory insurance?
13) __________ is a compulsory contribution to the government’s revenue through income, commodity or business profit.
14) Section 80C gives you a tax benefit on?
15) Section 80E gives you a Tax benefit on ___________?
a) Interest of Education Loan
b) Principal of House Loan
c) Interest from Fixed Deposit
16) Individuals & Businesses that help to grow small businesses are called as___________?
b) Angel Investors
17) Coir Udyami Yojna aims for?
a) To set up rice units
b) To set up coir units
c) To set up farming business units
18) NABARD is a lending institution major focuses on ?
a) Rural Area
b) Urban Area
19) Through Atal Incubation Center, the selected startups get funding from?
a) Rs. 1 Cr
b) Rs. 5 Cr
c) Rs. 10 Cr
20) In which type of loan the person doesn’t pay interest for the first 9-15 months?
a) Term Loan
b) Line of Credit
c) Installment Loan
21) The time frame for clearing a Cheque is?
a) Instant Deposit
b) 2-3 working days
c) 10-15 working days
22) In a Cheque, who is supposed to sign under authorised signatory?
c) Bank Official
23) What should you do, you fall into the trap of Phishing?
a) Lodge a police complaint
b) Leave it as you’ll be made fun of
24) A cash deposit slip is divided in how many parts?
25) What is the highest percentage (%) of Tax Slab defined by the government?