Kuzah Hangouts 2022: Newbies Finance Trivia

What does “pay yourself first” mean?

• Depositing paycheck on the first of every month

• Spending money for things you want before paying for monthly expenses

• Saving before spending income on other items

• Paying your bills before loaning money to others

Compounding is the process of earning interest on

• Principal and on previously earned interest

• Principal

• Previously earned interest

• Original amount you deposited

Which of the following security is NOT traded in the NSE?

• Bonds

• Cryptocurrency

• Stocks

• Derivatives

When you buy a ----------------- you are lending money to a corporation or government entity for a period of time?

• Stock Mutual Fund

• Common stock

• Preferred stock

• Bond

Which of the following is an example of personal income?

• Amount of money you can borrow on your credit card.

• Interest earned on investment or savings.

• Loan from a bank

• Fuliza overdraft

What is the minimum salary for PAYE (Pay as You Earn) in Kenya?

• 20,000

• 30,000

• 24,000

• 34,000

What represents your small business’s obligations to pay debts owed to lenders, suppliers, and creditors?

• Accounts Receivable

• Accounts Payable

• Liability

• Debit

Which of the following investments is least risky?

• Cryptocurrencies

• Stocks

• Certificate of Deposits

• Money Market

-------------------- helps define your financial goals and set appropriate strategies to reach them.

• Standard of living

• Personal financial planning

• Taxation and regulation

• Flexible-benefit plans

Total value of all items owned by an individual such as savings account, stocks, bonds, home, and automobile is known as

• Assets

• Investments

• Liabilities

• Trough