The Budget Quiz returns this year for its eighth iteration. Organised by the Ministry of Finance, the quiz aims to inform the public about the Budget process and key national policies.

It started yesterday and will run for two weeks to Feb 1, ahead of this year's Budget statement which will be delivered on Feb 19 by Finance Minister Heng Swee Keat.

Participants must answer a series of eight questions with four multiple-choice options. They can access the quiz on the Budget website at www.singaporebudget.gov.sg.

Among the questions are these: "What is the approval process for government spending in each financial year (FY)?" and "As of FY2017, to what does the Government allocate the bulk of its expenditure?"

The quiz has four categories: an open category, and three inter-school challenges for secondary schools, junior colleges or centralised institutes, and Institute of Technical Education and polytechnics.

Last year's quiz saw 2,660 students from 96 schools take part. Of these, 66 were secondary schools. Winners in the schools' categories were Methodist Girls' School, Temasek Junior College and ITE College West. The winning schools received trophies.

National Junior College student Khor Kiat Siong said: "Through the quiz, I will be updated on the upcoming policies that the Government is going to implement to address current national concerns, and the future obstacles that Singapore might face. It is an effective way of assessing my knowledge on the Singapore Budget."

The 18-year-old will be taking part in the quiz for the second year running.

Students are keen to find out more when they can see the relevance of the Budget to their lives, said Millennia Institute vice-principal Valerie Tng.

"Policies that address the future of work, or social and educational issues usually attract more interest," she said.