Are You Financially Literate?

By Kavya Balaji | June 7, 2017

 

Think you know everything about money and investments, huh? It’s time to find out. Go on. Take this quiz.

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How many free transactions can you make at other bank ATMs in non-metros?

Correct! Wrong!

Mediclaim and Health Insurance are the same

Correct! Wrong!

If you sell your Debt Mutual Funds after ___ years, you will have to pay long term capital gains tax.

Correct! Wrong!

When your ULIP matures, you will get the

Correct! Wrong!

In case of Car Insurance, own damages cover is mandatory.

Correct! Wrong!

In case you sell the property (purchased using a Home Loan) within 5 years, your tax benefits will be reversed. This applies to tax benefits under

Correct! Wrong!

Investment in any equity Mutual Fund can be used for tax deduction under Section 80C.

Correct! Wrong!

Current accounts can have sweep in facilities.

Correct! Wrong!

When you don't have the CVV for your card, the bank issues a new CVV number.

Correct! Wrong!

Minors can apply for Credit Cards.

Correct! Wrong!

You will be levied a penalty for not maintaining a balance in your salary account.

Correct! Wrong!

Which money transfer service is available 24/7?

Correct! Wrong!

Are You Financially Literate?
Congrats! You Are An Expert! 🙂

Your financial literacy is commendable. Keep reading to stay ahead of everyone else, always!
You are almost there...

Keep reading those newspapers and blogs on finance and you will be an expert soon!
Middling?!

You know a fair bit but you need to put in more efforts...Give up laziness, read more on finance and you will be an expert in no time!
Tut-tut! 🙁

Looks like you don't love finance. Tsk! You should take things a little more seriously for your own good. Get up to speed by reading more on finance. What say?

Share your Results:

Aced it? Then, it’s time to do your bit for others. Spread some light by sharing your financial knowledge with your family and friends.

Additional Reading: This Financial Literacy Week #PlayYourPart

Or wait! Didn’t do too well? Feel free to write to us with your queries. Use the comments section below.

And if you are looking for financial products, you know where to go…

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Category: Money Management
Kavya Balaji

About Kavya Balaji

A personal finance professional with over 10 years of experience in financial research. She believes financial literacy is important and is passionate about sharing her knowledge on the subject.

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