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Finance Quiz

There is only one correct answer to these.

A. Which of the following instrument exhibits the power of compounding:

  1. Bank fixed deposit.
  2. Equity Mutual Fund.
  3. Debt Mutual Fund.
  4. Gold bond.
  5. Bank fixed deposit with regular interest payout.

B. What is the minimum gain you can expect from a 10-year SIP (from FY 2020-21 to 2030-31) in a 5 star Mutual Fund:

  1. 10%
  2. 5%
  3. 0%
  4. Capital may also be lost.

C. The deadline for ITR Filing for FY 2020-21 is 31st December. Which of the following is true about the interest on tax not deposited:

  1. Interest is applicable if you haven't paid all tax by 31st March irrespective of when you file your ITR.
  2. Interest is applicable only after you file your ITR.
  3. Interest is applicable only after 31st December.

D. If you have purchased and sold shares in AY 2020-21, do you need to report it in ITR2?

  1. Only if you made a profit.
  2. Only if you made a loss.
  3. ITR1 is sufficient.
  4. Must be reported irrespective of loss or profit in ITR2.

E. Which of these is a pension product:

  1. ELSS
  2. PPF
  3. EPF/EPS

F. Which of these has the highest security:

  1. A fixed deposit in a public sector bank.
  2. A fixed deposit in a private bank.
  3. A public sector corporate bond.
  4. A time deposit in the post office.

G. If the annual return of an MF in FY 2020-21 is 10%, what could be the return of your 12-month SIP in the same fund during that duration:

  1. 10%
  2. More than 10%
  3. Less than 10%
  4. Could be a loss or immense profit also.