Various Saving Schemes and Products

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36. What is the purpose of a small business administration (SBA) loan?

a) To provide funding for personal needs

b) To provide funding for higher education expenses

c) To provide funding for small businesses

d) To provide funding for home renovations and repairs

Answer: c) To provide funding for small businesses
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37. Which of the following is a type of insurance that covers damage or loss to a vehicle?

a) Auto insurance

b) Health insurance

c) Home insurance

d) Life insurance

Answer: a) Auto insurance
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38. What is the purpose of a personal line of credit?

a) To save for short-term expenses

b) To make online purchases

c) To provide funding for higher education expenses

d) To provide a revolving line of credit for personal needs

Answer: d) To provide a revolving line of credit for personal needs
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39. Which of the following is NOT a type of credit monitoring service?

a) Free annual credit report

b) Credit Karma

c) Experian CreditWorks

d) Loan calculator

Answer: d) Loan calculator
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40. What is the purpose of a business term deposit?

a) To save for short-term expenses

b) To make online purchases

c) To provide funding for higher education expenses

d) To earn interest on surplus business funds

Answer: d) To earn interest on surplus business funds
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