Practice Savings (10.6) - Financial Management and Planning - CBSE 11 Human Ecology and Family Sciences Part II

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9 questions

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3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What does savings mean?
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Think about what you do with your allowance.
Question 2.
Why is saving money important?
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Consider unexpected expenses.
3Question 3.
What is the definition of savings?
- Setting aside money for future use
- Spending all the money right away
- Investing all money immediately
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Remember, savings is about keeping some money aside!
4Question 4.
True or False: Willingness to save only depends on how much money you earn.
- True
- False
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Think about why people might want to save regardless of their income.
Question 5.
A family has been earning $2,500 a month and saves 20% of it. They have some unexpected medical expenses of $400 this month. How can they adjust their budget to accommodate these expenses?
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Think about how adjusting savings can help meet unexpected costs.
Question 6.
If a family's income increases by 15% this year while their spending remains the same, how will this affect their ability to save?
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Consider how increased income relates to saving capacity.

5 more questions in this section. Enroll free to practise them all.