PERSONAL FINANCE-SUMMATIVE TEST

Type your name:

Choose your year and room.

• TH-MM1-MERKEL
• SAT-MM1-WILBER
• SUN-MM1-BROWN
• SUN-FM1-ACADFLEX
• SUN-MM1-TACURONG

1. What is the term used to describe the person who is primarily responsible for a family's financial management?

• A. Chief Financial Officer (CFO)
• B. Chief Executive Officer (CEO)
• C. Chief Operating Officer (COO)
• D. Chief Accountant

2. Which of the following is NOT an attribute that parents often want their children to have as financially stable adults?

• A. Determination
• B. Creativity
• C. Impulsiveness
• D. Compassion

3. What is the term used to describe the practice of continuously providing financial support to children, even as they become adults?

• A. Economic outpatient care
• B. Financial enablement
• C. Parental subsidization
• D. Familial dependence

4. At what age should children be allowed to earn their own money and make decisions about how to spend it?

• A. 3-5 years old
• B. 6-10 years old
• C.11-13 years old
• D. 14-18 years old

5. What is the primary reason why schools do not make the subject of money management a priority?

• A. It's not an important life skill
• B. It's too complex for students to understand
• C.It's not included in the standard curriculum
• D.It falls under the responsibility of parents

6. Which of the following is NOT an option for registering for a GCash account?

• A. Through the GCash app
• B. By dialing *143#
• C. Via email
• D. On the GCash website

7. After providing your mobile number to register, what will you need to do next?

• A. Enter a 4-digit MPIN
• B. Take a selfie
• C. Submit a valid ID
• D. All of the above

8. What is the main reason someone might choose to use a wire transfer instead of other payment methods?

• A. Wire transfers have lower fees
• B. Wire transfers are faster
• C. Wire transfers allow you to move larger amounts of money
• D. Wire transfers are more convenient