Financial Literacy Training Post Test Form

FINANCIAL LITERACY TRAINING

1. Post - Test
Name of Participant: ……………………………………………………….. Date: ……………………

Put a √ for right statement and X for the wrong statement.

Questions Right Wrong I do
not
know

1. The knowledge of proper management of income, expenditure, budget,
savings, insurance, loan, money transfer etc. is called financial literacy.

2. Financial literacy is useful for rich and poor or urban or rural people.

3. Financial literacy does not increase money management capacity

4. Only the rich people can save money.
5. Financial goals are only for financial institution not for individuals.

6. It is impossible for the poor to save.
7. Savings fulfill long‐term goals; savings are not useful for short‐term goals.

8. If you buy things you do not needs, soon you have to sell things what you
need.

9. Sometimes the interest rate received in savings is greater than the interest
paid in a loan.

10. Financial plan is a tool to help how much to earn, save and spend in order to
achieve the financial goals.

11. The decisio n to open a saving account in a financial institution also depends
on the cost associated with its operation.

12. Security, availability/convenience, and interest rates on savings should be
considered before deciding where to save.

13. The loan is to be repaid only when the income is more than sufficient.

14. Loan should not be taken for emergency situations.
15. Many of the needs can be fulfilled by taking loans but taking more loans

than the capacity to repay is risky.

16. One of the consequences of delinquency (loan default) is loan rejection in
the future.

17. One way of managing loans is to re‐pay the loan with higher interest
rate first.

18. The duration of a loan is the time frame within which a person can
use the loan and payback.

19. Financial plan is a tool to help how much to earn, save and spend in
order to achieve the financial goals.

20. Budget is useful to fulfill short‐term objectives only.
21. The aim of a family budget is to increase saving by controlling

expenditure.
22. Digital financial services includes mobile money, online banking, and

use of electronic cards.
23. There is no need to provision for emergency situations in a budget.

24. The financial institutions make money from the difference in
the interests and fees they receive from lending and the interests they
provide for deposits.

25. Depositing money in a registered and regulated financial institution is
safer than depositing elsewhere.

26. It is not necessary for a person above 60 years to have sufficient
savings.

27. If you start saving for your children it won’t bother you when the
time to educate them comes.

28. The main function of insurance is to protect against future risks.

29. The insurance companies only do life insurance.
30. It is not wise to send money through individuals when other options

are available.