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Question 1

The __________ specifies the financial decisions that result from your personal financial planning

Question 2

Having a __________ level of future wealth (from more savings) requires you to sacrifice by having a __________ level of spending today

Question 3

The management of your loans would include:

Question 4

If you took a loan of 100,000/= with 12% interest per year with a term of 1 year, how much in total would you pay back the bank at the end of the loan period i.e. 1 year?

Question 5

If you took a loan of 100,000/= with 12% interest per month with a term of 1 year, how much in total would you pay back at the end of the loan period i.e. 1 year?

Question 6

With a _________ interest rate you only pay interest on what you actually owe the lender while with a _________ interest rate you keep paying interest on the original amount of the loan until this amount is entirely paid back.

Question 7

Which of these is considered an investment?

Question 8

Pooling resources as a group for members to save, borrow and investment can be done under different vehicles. These may include;

Question 9

The legal document that explains in detail, under what situations and conditions the insurance company will pay you in case of a specified loss is called a:

Question 10

Which of these financial rights is FALSE?

Question 11

Which of these is TRUE about taking out a loan from a financial institution?

Question 12

If you are employed by a private company or a Non-Governmental Organisation (NGO), you will have a _____% deduction from your salary sent to the National Social Security Fund (NSSF). Your employer must also make a ___% contribution to the NSSF every month.

Question 13

. In which of the following saving vehicles is your money NOT insured?

Question 14

The Total Cost of Credit is a total of:

Question 15

When you become a guarantor for someone else’s loan, it means that

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