PREFINAL

What is an EMI?

• An EMI is a fixed payment made by a borrower to the bank on a fixed date each month.

• An EMI is a fixed payment made by a depositor to the bank on a fixed date each month.

An EMI is a way through which you can buy a product without paying the full price immediately.

• True

• False

A debit card is a thin rectangular card issued by the bank that lets you buy things without carrying cash.

• True

• False

A debit card is a thin rectangular card issued by the bank that lets you buy things without carrying cash even if there is no money in your savings account.

• True

• False

It is a thin rectangular card issued by the bank that lets you buy things within a certain limit even if there is no money in your account.

• Debit Card

• Credit Card

A good credit score can unlock many savings and benefits, including access to loans and credit cards at very high-interest rates.

• True

• False

When you buy insurance, you purchase protection against unexpected financial losses.

• True

• False

In the event of an accident, if you have the right kind of insurance policy, the insurance company will pay the cost of the car repairs.

• True

• False

We must set our financial goals for the short-term, medium-term, and long-term.

• True

• False

Imagine if all the people start eating McDonald's French Fries, then there will not be sufficient fries for everyone. This will result in a price rise (inflation) due to?

• high demand, low supply

• low demand, high supply

• high demand, high supply

• low demand, low supply