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Strategies for Professional Growth · Quiz 2 · 16 Mar 2025 · January 2025 term

Question 12: Consider the following statements about an emergency fun…

Question 12

+1 markOne correct option

Consider the following statements about an emergency fund:
1. It serves as a financial safety net designed specifically for unforeseen expenses or financial emergencies.
2. It is a form of savings that can be used to cover both small and sometimes part of large unexpected expenses that are not part of regular monthly spending.
3. It cannot be used for unexpected medical bills, hospitalization expenses, and financial stability during job loss but does cover home repairs.
Select the correct answer from the options below:

  1. A

    1 only

  2. B

    1 and 2 only

  3. C

    1 and 3 only

  4. D

    1, 2, and 3

Show answer

Correct answer

  • B

    1 and 2 only

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Question 12 of 21 in the IIT Madras BS Strategies for Professional Growth (SPG) Quiz 2 paper sat on 16 Mar 2025, in the January 2025 term (IIT M DEGREE AN EXAM QDB2 16 Mar 2025). It carries 1 mark.

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