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Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define collateral.
π‘ Hint: Think about what you would offer a bank as security for a loan.
Question 2
Easy
What are self-help groups?
π‘ Hint: Consider the benefit of pooling savings.
Practice 4 more questions and get performance evaluation
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the primary role of banks in the economy?
π‘ Hint: Think about how banks operate.
Question 2
True or False: Credit can sometimes lead borrowers into a debt trap.
π‘ Hint: Consider the impact of high-interest rates on repayment.
Solve and get performance evaluation
Push your limits with challenges.
Question 1
A business owner takes a loan from both a bank and an informal lender. Analyze how the different interest rates might affect the owner's financial decisions.
π‘ Hint: Consider the implications of managing multiple loans.
Question 2
If a self-help group experiences irregular savings contributions, what might be the consequences for its members?
π‘ Hint: Think about how group cohesion affects financial support.
Challenge and get performance evaluation