February 21, 2025

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Basic Education Certificate Examination : MONEY JHS 2 Objective Questions

Welcome to your Basic Education Certificate Examination : MONEY JHS 2 Objective Questions

OBJECTIVES

1. What is money primarily used for?

A) To buy goods and services

B) To help people get jobs

C) To build houses

D) To create wealth

2. Which of the following is a form of money?

A) Land

B) Gold

C) Cow

D) Paper money and coins

3. What is the importance of money in the society?

A) It helps to create jobs

B) It provides wealth to everyone equally

C) It facilitates the exchange of goods and services

D) It eliminates poverty

4. How is money related to morality?

A) Money can be used to corrupt others

B) Money is the root of all evil

C) Money should be used to help the less fortunate

D) Money always leads to happiness

5. Which of the following can be considered an immoral use of money?

A) Donating to charity

B) Buying essential goods

C) Bribing others for personal gain

D) Investing in education

6. How should money be earned according to moral teachings?

A) Through hard work and honesty

B) By taking advantage of others

C) Through cheating and lying

D) By stealing

7. What does the Bible say about the love of money?

A) It is the root of all evil

B) It brings blessings and prosperity

C) Money is a gift from God

D) Money should be worshipped

8. How can one avoid the negative effects of money?

A) By focusing on wealth accumulation

B) By being content with what one has

C) By spending excessively

D) By hoarding money

9. Which of these is an ethical way to manage money?

A) Using money to exploit others

B) Being generous and sharing with those in need

C) Hiding money to avoid paying taxes

D) Wasting money on unnecessary luxuries

10. What does 'money management' mean?

A) Spending as much as possible

B) Saving money without any purpose

C) Managing how money is earned, saved, and spent

D) Ignoring financial responsibilities

11. What is the moral impact of greed for money?

A) It can lead to selfishness and harm others

B) It helps people to work hard

C) It leads to joy and peace

D) It does not affect others

12. How does the love of money affect relationships?

A) It strengthens relationships

B) It may cause jealousy, envy, and misunderstandings

C) It helps to build trust

D) It leads to better family bonding

13. What is one way money can be used to promote peace?

A) By buying things to show off

B) By investing in community projects that help everyone

C) By hoarding it to gain power

D) By using it to manipulate others

14. What is a good way to teach children about the value of money?

A) By giving them everything they ask for

B) By showing them how to work and save money

C) By ignoring the topic of money

D) By letting them spend as much as they want

15. What is an example of the negative influence of money on society?

A) People helping each other

B) Corruption and bribery

C) Building schools and hospitals

D) Investing in the future

16. According to Islamic teachings, what should one do with money?

A) Keep it to oneself

B) Use it only for personal luxury

C) Spend it in a way that pleases God, such as charity

D) Use it to oppress others

17. Why is it important to save money?

A) To show off wealth

B) For future needs and emergencies

C) To keep it hidden from others

D) To buy unnecessary things

18. How does a person show moral responsibility with money?

A) By spending money carelessly

B) By being honest and using money for good causes

C) By not saving money

D) By hiding money from others

19. What is the effect of using money for personal gain at the expense of others?

A) It helps to build trust

B) It can cause harm and lead to resentment

C) It strengthens family bonds

D) It leads to financial prosperity for everyone

20. According to the Bible, what is more important than money?

A) Love and kindness

B) Material wealth

C) Power and fame

D) Pride

21. What is the effect of being wasteful with money?

A) It leads to financial stability

B) It encourages others to be generous

C) It can lead to poverty and hardship

D) It brings joy to the community

22. What is one way to use money wisely according to Christian teachings?

A) By using it to help the poor and needy

B) By accumulating as much as possible

C) By spending it on material luxuries

D) By keeping it hidden

23. Which of the following is a key principle in the management of money?

A) Avoiding all savings

B) Planning and budgeting effectively

C) Spending without consideration

D) Focusing only on accumulating wealth

24. Why is it wrong to cheat others to get money?

A) It breaks trust and is unjust

B) It helps to build good relationships

C) It shows good leadership

D) It brings happiness to others

25. What is a major reason for financial problems in society?

A) Poor management of resources

B) Hard work and savings

C) Giving to charity

D) Investing in education

26. What does it mean to "live within your means"?

A) Spending all your money on luxury items

B) Spending less than or equal to what you earn

C) Always borrowing money

D) Never saving any money

27. How can money contribute to a person's happiness?

A) By making them rich

B) By helping them share with others and meet their needs

C) By allowing them to buy whatever they want

D) By getting attention from others

28. What does the Quran say about the pursuit of wealth?

A) Wealth is forbidden

B) Wealth is a test, and one should use it wisely

C) Wealth should be pursued above all else

D) Money is irrelevant to life

29. How can one practice generosity with money?

A) By hoarding money for themselves

B) By donating to charity and helping those in need

C) By spending it only on personal desires

D) By keeping money secret from others

30. What does "earning money honestly" mean?

A) Getting money through illegal activities

B) Earning through hard work and fair practices

C) Taking money from others without permission

D) Using deceptive means to get money

31. What is the moral lesson in the parable of the rich man in the Bible?

A) The importance of accumulating wealth

B) The dangers of being too focused on money

C) Money can bring true happiness

D) The rich are blessed above others

32. What role does money play in community development?

A) It helps to promote peace

B) It causes division among people

C) It can be used for the welfare of everyone

D) It has no impact

33. What is the primary purpose of financial planning?

A) To accumulate as much wealth as possible

B) To spend money on unnecessary things

C) To use money wisely and prepare for future needs

D) To impress others with wealth

34. Which of these is a form of financial responsibility?

A) Borrowing money without any intention to pay back

B) Spending money without a plan

C) Saving a portion of your earnings for the future

D) Ignoring your financial obligations

35. How does greed for money harm the individual?

A) It helps them to get everything they want

B) It can lead to stress, dissatisfaction, and unethical behavior

C) It improves their relationships with others

D) It makes them more generous

36. What does Islam teach about money and wealth?

A) Money should be hoarded and kept secret

B) Wealth is a test, and it should be used for good purposes

C) Money should be used to show off to others

D) Wealth is irrelevant to a person’s success

37. What is the moral lesson of the story of the widow's mite in the Bible?

A) The rich should give more than the poor

B) It’s not how much one gives, but the sincerity behind the giving

C) Wealth is a sign of success

D) Only the rich are required to give

38. What is the best way to avoid the negative effects of money?

A) Always save money

B) Use money in a balanced and ethical way

C) Focus on making as much money as possible

D) Never spend any money

39. What can a person do with money to live a fulfilling life?

A) Spend it all on luxuries

B) Use it to help others and contribute to society

C) Save it for a long time without spending

40. How should one view money in relation to spiritual growth?

A) Money should be pursued above everything else

B) Money is unimportant for spiritual life

C) Money should be used to serve others and support good causes

D) Money can be used as a means of power over others

41. What is the primary function of money?

a) To serve as a store of value

b) To act as a medium of exchange

c) To measure wealth

d) To serve as a unit of account

42. Which of the following is not considered legal tender in most countries?

a) Coins

b) Banknotes

c) Personal checks

d) Electronic money

43. Fiat money is different from commodity money because it:

a) Has intrinsic value

b) Is backed by a physical commodity like gold

c) Derives its value from government decree

d) Is used primarily in digital transactions

44. Which of the following is an example of a digital form of money?

a) Gold coins

b) Bitcoin

c) US dollars

d) Foreign exchange

45. What does the term “inflation” refer to?

a) The rise in the value of money

b) The increase in the prices of goods and services

c) The total amount of money in circulation

d) The rise in interest rates

46. Which of the following is an example of a store of value?

a) A savings account

b) A credit card

c) A government bond

d) All of the above

47. What is the role of central banks regarding money?

a) Issue and regulate the supply of money

b) Provide loans to individuals

c) Determine the value of foreign currencies

48. What does the term "monetary policy" refer to?

a) The distribution of money to citizens

b) The government's decision on tax rates

c) Central bank actions to control money supply and interest rates

d) The private sector’s investment in money-making businesses

49. Which of the following best describes cryptocurrency?

a) A physical form of money issued by central banks

b) A digital form of money that is decentralized and uses encryption

c) A government-backed currency

d) A type of credit card

50. What is "M1" in terms of money supply?

a) The total value of all gold reserves held by the government

b) The narrowest measure of the money supply, including currency and demand deposits

c) The measure of money available for investment

d) The sum of money held in savings accounts

Basic Education Certificate Examination : MONEY JHS 2 Objective Questions

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