Here are some MCQs on Micro-Credit and Micro-Finance
1. What is the main objective of micro-credit?
a) To provide small loans to low-income individuals
b) To promote economic development in rural areas
c) To alleviate poverty through financial inclusion
d) All of the above
2. Which organization is known for pioneering micro-credit initiatives?
a) World Bank
b) United Nations
c) Grameen Bank
d) International Monetary Fund
3. What is micro-finance?
a) The provision of small loans to low-income individuals
b) The financial services offered to those who are unbanked or have limited access to traditional banking
c) The practice of lending money at high interest rates to low-income individuals
d) A form of credit that is only accessible to micro-businesses
4. Which of the following is NOT a typical micro-finance service?
a) Savings accounts
b) Insurance
c) Credit cards
d) Remittances
5. What is the repayment period for micro-credit loans?
a) 5 years
b) 10 years
c) 15 years
d) It varies depending on the borrower’s capacity to repay
