FIN533 QUIZ SET 1

If an individual has an aggregate income of RM80,000 and allowable deductions amounting to RM20,000, compute the assessable income.

(a)  

 Calculate the interest amount for a personal loan of RM 20,000 with an interest rate of 5% per annum for a period of 3 years.

• RM3,000
• RM300

• RM1500

• RM2,000

If a person saves RM400 per month starting at age 30 and plans to retire at age 60, calculate the total amount saved by retirement assuming an annual interest rate of 6%.

Which of the following is a valid tax relief for lifestyle expenses in Malaysia?

• Purchase of a new car

• Payment of gym membership

• Holiday expenses

• Wedding expenses

What is the primary function of the Credit Tip-Off Service (CTOS) in Malaysia?

• To provide educational loans

• To offer financial planning services

• To collect and provide credit information

• To manage retirement funds

What is the main purpose of the Employees Provident Fund (EPF) in Malaysia?

• To provide healthcare services

• To offer education loans

• To ensure financial security during retirement

• To manage public housing projects

Which of the following is a major Provident & Pension Fund organization available in Malaysia?

• KWAP

• SOCSO

• SEDEF

• PERKESO

• A common issue in retirement planning is the (a)   in purchasing power due to inflamation

 If an individual starts saving RM 500 per month at age 35 for retirement at age 65 with an annual interest rate of 5%, calculate the total amount saved by retirement.

(a)  

Which of the following is a valid tax relief for lifestyle expenses in Malaysia?

• purchase of new car

• 
  Payment of gym membership

• Holiday expenses