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Question 1 of 10
1. Question
Which statement is true regarding the negative income elasticity?
Correct
Negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes.
Incorrect
Negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious substitutes.
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Question 2 of 10
2. Question
Which of the statement is true regarding the fiscal policies?
Correct
Fiscal policy is the use of government revenue collection and expenditure to influence a country’s economy.
Incorrect
Fiscal policy is the use of government revenue collection and expenditure to influence a country’s economy.
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Question 3 of 10
3. Question
Which of the following statement best defines the term consumer price index(CPI)?
Correct
The CPI measures the average change in prices over time that consumers pay for a basket of goods and services, commonly known as inflation. Essentially it attempts to quantify the aggregate price level in an economy and thus measure the purchasing power of a country’s unit of currency.
Incorrect
The CPI measures the average change in prices over time that consumers pay for a basket of goods and services, commonly known as inflation. Essentially it attempts to quantify the aggregate price level in an economy and thus measure the purchasing power of a country’s unit of currency.
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Question 4 of 10
4. Question
Which of the relationship is studied from the yield curve?
Correct
The curve shows the relation between the interest rate and the time to maturity. The yield curve function is actually only known with certainty for a few specific maturity dates.
Incorrect
The curve shows the relation between the interest rate and the time to maturity. The yield curve function is actually only known with certainty for a few specific maturity dates.
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Question 5 of 10
5. Question
Which of the statement best defines the term Present value?
Correct
The present value is the value of an expected income stream determined as of the date of valuation.
Incorrect
The present value is the value of an expected income stream determined as of the date of valuation.
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Question 6 of 10
6. Question
Which of the following statement best defines the term internal rate of return?
Correct
The internal rate of return is the rate of return at which the present value of a series of cash inflows will equal the present value of the cost of a project.
Incorrect
The internal rate of return is the rate of return at which the present value of a series of cash inflows will equal the present value of the cost of a project.
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Question 7 of 10
7. Question
Which of the following ratios is correct?
Correct
Consumer debt should never be greater than 20% of income.
Incorrect
Consumer debt should never be greater than 20% of income.
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Question 8 of 10
8. Question
Which of the following statement is true regarding the term recession?
Correct
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Incorrect
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
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Question 9 of 10
9. Question
Which of the following step is not included in financial planning process?
Correct
Once the client has agreed to a plan, the financial planner will move to implement that plan. Once the client has agreed to a plan, the financial planner will move to implement that plan.
Incorrect
Once the client has agreed to a plan, the financial planner will move to implement that plan. Once the client has agreed to a plan, the financial planner will move to implement that plan.
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Question 10 of 10
10. Question
Which of the following statement best defines the income statement?
Correct
A personal financial statement is a document or spreadsheet outlining an individual’s financial position at a given point in time.
Incorrect
A personal financial statement is a document or spreadsheet outlining an individual’s financial position at a given point in time.