Anand 25 July 2025

1. Financial literacy is understanding the way money is ________.

  1. saved
  2. spent
  3. invested
  4. saved, spent & invested

Correct Answer: D

2. Costly things that are not essential for our survival are ______.

  1. Needs
  2. Money
  3. Luxuries
  4. Savings

Correct Answer: C

3. Things that are needed for survival are ______.

  1. Wants
  2. Needs
  3. Savings
  4. Expenses

Correct Answer: B

4. Sunitha earns Rs.10,000 every month. After setting a monthly budget amount, she is able to save Rs. 2000 every month. She will use this money in case of ____.

  1. emergencies
  2. party
  3. bills
  4. travel

Correct Answer: A

5. Gopi spends his salary on movies, groceries, house rent and clothes. Where can he reduce his expenses to save some money?

  1. Clothes
  2. House rent
  3. Movies
  4. Groceries

Correct Answer: C