Management in Living

Question 1

1Health insurance in Ghana is provided by the

Easy

A. Ghana Revenue Authority B. National Health Insurance Scheme C. Electoral Commission D. Bank of Ghana

Question 2

2Money borrowed that must be paid back with interest is

Easy

A. a gift B. income C. a saving D. credit (a loan)

Question 3

3A pension scheme such as SSNIT provides

Easy

A. free housing B. income after retirement C. school fees D. daily wages

Question 4

4Ghana's main social security pension scheme for workers is run by

Easy

A. SSNIT B. GSA C. GRA D. ECG

Question 5

5Investing in treasury bills means

Easy

A. buying land B. lending money to the government for a short period at interest C. buying shares D. gambling

Question 6

6A family earns GH¢4,000 a month and saves 15%. How much does it save each month?

Easy

A. GH¢150 B. GH¢600 C. GH¢3,400 D. GH¢400

Question 7

7A family's monthly income is GH¢3,000. Following the 50/30/20 budgeting rule, how much should go to savings?

Easy

A. GH¢900 B. GH¢300 C. GH¢600 D. GH¢1,500

Question 8

8Life insurance provides

Easy

A. free food B. a car C. money to dependants when the insured person dies D. a house

Question 9

9Debt becomes a problem when

Easy

A. repayments exceed what the family can afford B. it builds a house C. it is small and planned D. it is paid on time

Question 10

10Paying a small regular amount to a company that will cover the cost of a loss, such as a fire, is

Easy

A. insurance B. a budget C. a loan D. inflation