Just about 30-40% of Indians are financially literate and the result is most Indians make sub-par financial decisions. People with poor financial literacy often are the victims of financial fraud, borrow at extremely high interest rates, invest in terrible financial products like endowment insurance policies, and forego better returns on their money.
Just having a basic understanding of personal finance can go a long way in helping you make better financial decisions. So, how well do you know fundamental concepts of personal finance? Take this quiz and find out.
This test was created by Professor Annamaria Lusardi for the The Global Financial Literacy Excellence Center (GFLEC)
I thought this will be more exhaustive and will need me to exert a bit. But it wasn’t. Also I am a perpetual student and wouldn’t see myself as perfectly knowledgeable in the domain of finance inspite of the score.