Smart Financial Planner Quiz

Take the Smart Financial Planner Quiz on Calcify to challenge and enhance your financial knowledge. Learn about budgeting, savings, investments, debt management, retirement planning, and emergency funds.

Question 1 of 12

Q1. How does inflation affect savings?

A Increases purchasing power

B No effect

C Only affects loans

D Reduces purchasing power over time

Q1. How much of your income should go into retirement savings?

A 5%

B 10–15%

C At least 20%

D 50%

Q1. What is an emergency fund?

A Savings for planned vacations

B Savings for unexpected expenses

C Retirement fund

D Investment in stocks

Q1. Should debt repayment be prioritized over investments?

A Never

B Only for small debts

C Yes, to reduce financial risk

D Only for high-income earners

Q1. How can you reduce unnecessary spending?

A Ignore budgeting

B Buy impulsively

C Track expenses and plan purchases

D Only use credit cards

Q1. What is a financial goal?

A Monthly shopping plan

B Planned target for savings, investment, or spending

C Paying bills on time

D Spending on leisure

Q1. Should insurance be part of financial planning?

A No

B Only health insurance

C Only life insurance

D Yes, protects against financial risks

Q1. How can financial planning improve financial security?

A By ignoring expenses

B Only by saving money

C Only by investing in stocks

D By managing income, expenses, savings, and investments effectively

Q1. How often should you review your budget?

A Never

B Every 5 years

C Monthly or quarterly

D Only at year-end

Q1. What is the difference between gross and net income?

A Gross = after tax, Net = before tax

B Gross = salary, Net = bonus only

C Gross = total income before deductions, Net = after deductions

D No difference

Q1. What is the difference between fixed and variable expenses?

A Fixed = occasional, Variable = recurring

B Fixed = short-term, Variable = long-term

C Fixed = consistent monthly, Variable = changes monthly

D No difference

Q1. What is the 50/30/20 budgeting rule?

A 50% savings, 30% bills, 20% leisure

B 50% leisure, 30% savings, 20% bills

C 50% needs, 30% wants, 20% savings

D 50% income tax, 30% rent, 20% food

Quiz Complete

Congratulation You’ve scored points on the quiz!

6/8

Correct Answer

Accuracy Rate 50%

Wrong Answers 5/8

Home Quiz

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Smart Financial Planner Quiz

Result

Quiz Complete

6/8