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Study MCQ
Employability Skills
FY->Module-7 : Financial and Legal Literacy
Set 8
Set 8
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Q6685
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Money borrowed from bank or a person is called ___?.
A
Tax
B
Gift
C
Interest
D
Loan
Q6686
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What is the benefit of paying money regularly for an insurance plan?
A
It provides free entertainment.
B
It covers travel expenses.
C
It helps us manage emergency situations.
D
It increases monthly savings.
Q6687
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The extra amount we pay for borrowing money is _____.
A
Loan
B
Interest
C
Hidden charges
D
Processing charges
Q6688
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Rita wants to complete her higher education from a good university. Which loan should she apply for?
A
Home loan
B
Personal loan
C
Education loan
D
Auto loan
Q6689
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Priya wants to purchase a bike. Which loan should she apply for?
A
Home loan
B
Personal loan
C
Education loan
D
Auto loan
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