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(Precious) Words of Wisdom : "Risk comes from not knowing what you’re doing." ~ Warren Buffett

Kaun Banega Crorepati - Check your Crorepati Score

I am sure many of you have an intense desire to become a Crorepati.

Well, the immense popularity of Shri Amitabh Bachchan's programme Kaun Banega Crorepati, is an irrefutable proof of the same.

But, given that lakhs of Indians try for it, the odds of reaching the Top 10 to play the 'Fastest Finger First' are indeed very low.

Then, the chances of making it to the 'Hot Seat', are still slim.

Finally, to answer ALL the question correctly and win the jackpot, is nearly impossible as you have to have vast amount of general knowledge.

But, worry not:

With the right financial knowledge, MANY of you can definitely become a Crorepati...
that too without the hassles of reaching the Hot Seat.

Are you a Crorepati material?

Check out your Crorepati Score with this small questionnaire: 
(All it requires is a mere 10-15 minutes of your precious time.)

1. The best policy to cover for medical risks is
a. Conventional Medical Insurance Plan
b. Critical Illness Cover
c. Daily Hospitalization Cash Plan

2. Policy that covers life at minimum premium
a. Term Policy
b. Endowment Policy
c. Moneyback Policy

3. Ideal method for interest calculations for loans is
a. Reducing balance method
b. Flat rate method
c. Advance EMI method

4. Which of the following is strictly unadvisable?
a. Carrying credit card outstanding balance
b. Exceeding the limit on your credit card
c. Shopping online with your credit card

5. Gold Fund-of-Funds invest in
a. Gold ETF
b. Gold companies
c. Gold

6. You should invest in a product when…
a. It is appropriate for your profile
b. Gives Risk-free returns
c. Gives High Returns

7. Presently, pension received by a person is
a. Taxable
b. Tax free
c. 33% tax-free and balance taxable

8. Before you start investing you should
a. Have adequate life and medical insurance
b. Pay-off all your loans
c. Save money for home down-payment

9. You can claim…
a. Both HRA and Home Loan tax benefit
b. Either HRA or Home Loan tax benefit
c. 50% of both HRA and Home Loan benefit

10. Prudent EMI-to-income percentage is
a. 50%
b. 75%
c. 90%

11. If employer provides sufficient health cover
a. You should still buy additional policy
b. You need not buy another policy
c. You should buy an OPD plan

12. What is CVV number?
a. Number on the back of a credit card
b. Credit card number
c. Last 4 digits of a credit card

13. Company Fixed Deposits are
a. Unsecured
b. Secured
c. Guaranteed upto Rs.1 lakh

14. Most desirable investment strategy is to
a. Invest for more time
b. Invest more money per month
c. Invest where interest rate is highest

15. When investing in an equity mutual fund you should
a. Study its portfolio characteristics such as PE ratio, AUM, Concentration, etc.
b. Check whether it has paid dividend during the previous 3 years
c. Ensure that its Net Asset Value or NAV is less than 50


To know your Crorepati Score check out the answers to kaun banega crorepati quiz...

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

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... Three VALUABLE Tips ...

1. Fake News On Investment: Absolute Vs Annualized Return
Absolute Vs Annualized Returns
Whatever may be the source of news, always crosscheck and verify.

 


2. Tax-Free NPS Withdrawal Hiked To 60%. But Don't Say Wow.
Say No to NPS
It's a thumbs down for the NPS (National Pension System).

 


3. Many Credit Card Bills Equals Many Problems
Credit Card Problems
Warning! The joy and happiness from Credit Cards is momentary only.