Financial literacy

2018-10-07 - The quiz master is head - marketing, PPFAS Mutual Fund Send your queries and feedback at yourmoney@bsmail.in

1. The Reserve Bank of India’s deposit insurance limit of ~100,000 is applicable to __________.

A. Principal amount only

B. Interest amount only

C. Interest plus principal for fixed deposits only D. Interest plus principal for all accounts/deposits per bank

2. The principle of vicarious liability usually applies to ___________ relationship.

A. Doctor-patient

B. Employer-employee

C. Principal–agent

D. Lawyer-client

3. The maximum tax benefit available on interest repayment towards a home improvement loan is ___________.

A. ~30,000

B. ~60,000

C. ~120,000

D. ~150,000

4. _________ is taxable with respect to a non-resident bank account.

A. Interest earned on foreign currency non-resident account

B. Interest earned on a non-resident external savings account

C. Interest earned on a non-resident ordinary savings account

D. Interest earned on a non-resident external current account

5. Which of these is false with respect to the Senior Citizens Savings Scheme (SCSS)?

A. An assessee can invest a maximum of ~3 million

B The interest earned is taxable

C. Only citizens above the age of 60 years are eligible D. Assessees get tax benefit under Section 80C.