Nefmq2010 Mini Quiz 1
Welcome to NEFMQ2010 Mini Quiz 1!This quiz consists of 10 compulsory multiple choice questions and accounts for 10% of the preliminary scores.
- 1.John is currently working as a school teacher that pays him $65000 a year. Of late, he has been thinking of starting his own tuition centre. He can potentially take in 100 students and charge them $250 per month. However, he will have to fork out $8000 per month for rental. What is the total opportunity cost he faces per annum if he chooses to remain as a school teacher?
- A.
$0
- B.
$139 000
- C.
$204 000
- D.
$300 000
- 2.John and Mary are the lone dwellers on island X. In order to improve their living conditions, they have decided to specialize in production of goods which they have comparative advantage in producing. John Mary Fish Coconut Fish Coconut Output 6 2 24 9 Using the table above, it can be shown that _____________ has the comparative advantage in the production of fish.
- A.
John
- B.
Mary
- C.
Nobody
- D.
Everyone
- 3.According to the Principle of Purchasing Power Parity (PPP) for a country of fixed exchange rates: In the long run there can be a) _______ deviations between domestic and foreign inflation rates. If not, the real exchange rate would b) _________.
- A.
(a) no; (b) appreciate or depreciate without end
- B.
(a) no; (b) equal the nominal exchange rate.
- C.
(a) constant; (b) appreciate or depreciate without end.
- D.
(a) constant; (b) equal the nominal exchange rate.
- 4.1. A commercial bank has $5000 in excess reserves and the reserve ratio is 30%. The bank must have:
- A.
$90,000 in outstanding loans and $35,000 in reserves.
- B.
$90,000 in checkable deposit liabilities and $32,000 in reserves.
- C.
$90,000 in checkable deposit liabilities and $35,000 in reserves.
- D.
$20,000 in checkable deposit liabilities and $10,000 in reserves.
- 5.1. Short-run fluctuations in real GDP occur in the real business cycle model when:
- A.
Prices adjust gradually.
- B.
Shocks move short-run aggregate supply curve .
- C.
Shocks move long-run aggregate supply curve.
- D.
Investment depends upon the growth of real GDP.
- 6.Which of the following areas does financial planning cover?
- A.
Tax planning
- B.
Estate planning
- C.
Investment planning
- D.
All of the above
- 7.Which are the CPF accounts you can use to pay for your housing instalments?
- A.
Ordinary account and Special account.
- B.
Ordinary account and Retirement account.
- C.
Medisave account and Special account.
- D.
Medisave account and Retirement account.
- 8.Which of the following is not a factor affecting the CPF contribution rate?
- A.
Age
- B.
Salary
- C.
Marital status
- D.
Employment status
- 9.All of the above products are listed on SGX except for:
- A.
Shares
- B.
Structured warrants
- C.
Exchanged-traded funds
- D.
Singapore Government Securities
- 10.To guide against credit card fraud, you should do the following except:
- A.
Sign your card with permanent ink as soon as it arrived
- B.
Keep your card relates information (e.g. PIN) in the same place as your credit card
- C.
Save sales slips to compare with billing information
- D.
Keep your cards in the same place after use
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