If you are curious about the Ministry of Finance’s budget processes, this is the time to learn it. You can join the Ministry of Finance (MOF) Budget Quiz 2014 which will commence on January 9, 2014. Participants with the highest scores in the set of quizzes will be qualified for the weekly draw. You can stand to win S$20 worth of voucher every week. The top scorers will win S$100 worth of prizes.

The quizzes are organized to invite more public awareness. MOF seeks to let the public understand the budget processes and the initiatives it cover. What are the mechanics of the quiz:

Coverage

If you know when the government’s FY (Fiscal Year) begins and ends, you can join the quiz. If you know what sector holds the highest expenditure, you can also join the quiz. These are just some of the questions that you will encounter if you decide to join the quiz. If you are interested, you will be pleased to know that the MOF released guidelines or pointers to increase your chances of getting good scores. The quiz will include economic, social policies, tax, fiscal reserves, fiscal resources, resource management policies and many more.

Period

The quiz will start from January 9, 2014 and it will end on February 17, 2014. There will be three quizzes done weekly. The quizzes are every Thursday. This contest is appealing because there are prizes. Participants with the highest scores in the final quiz (from January 30-February 17, 2014) will win S$100 worth of prizes. This is a big thing for many Singaporeans and PRs (Permanent Residents).

Participants

The good thing about this is that all are invited to take the quiz. The quiz is open to every Singaporean Citizens and PRs. There is no age limit as long as the participants understand the questions. In fact, MOF is encouraging the schools to participate in this quiz. Schools with the highest scores will get the Budget Challenge Trophy. If you are interested, you can go to MOF’s website.

It is important that you participate in this activity because it can help you understand the processes. This is not a waste of time. National budget is important because without it, the operations of the republic will not be possible. It is crucial that the budget is set so the machineries of the government can work.

Though you cannot physically join the processes of the MOF (because there are people who specifically deal with that), the fact that you know the processes and its initiatives is a good thing.