9 Commerce

Question 1

A letter from a lender stating that you have failed to carry out terms of your loan contract?

Accepted Answer

Default notice

Question 2

What is income?

Accepted Answer

Money received regularly from work, investment or welfare

Question 3

What does not count as income?

Accepted Answer

Investment

Question 4

Insurance that covers an individual being hurt in a motorcar incident is?

Accepted Answer

Personal liability

Question 5

When was the Australian Consumer Law introduced?

Accepted Answer

2011

Question 6

A good that is purchased to satisfy a requirement of life is known as?

Accepted Answer

Need

Question 7

Hairdresser is what type of store?

Accepted Answer

Specialty

Question 8

Which of these is not a good tip for financial management?

Accepted Answer

Never get a credit rating

Question 9

What is the Australian Stock Exchange known as?

Accepted Answer

ASX

Question 10

What income do business owners earn?

Accepted Answer

Profit

Question 11

A strategy to manage having lots of different types of loans is?

Accepted Answer

Debt consolidation

Question 12

Which of the following is the latin word for 'let the buyer beware'?

Accepted Answer

Caveat Emptor

Question 13

A creditor is?

Accepted Answer

Person or company who money is owing to

Question 14

Taking back goods bought on credit if repayments have not been made is called?

Accepted Answer

Repossession

Question 15

If I was to borrow from a bank, what kind of loan am I likely to get?

Accepted Answer

Mortgage

Question 16

"___________________" is the sum payable for profit of shares.

Accepted Answer

Dividend

Question 17

"___________________" is the money earned by authors or musicians for their work.

Accepted Answer

Roylaties

Question 18

A consequence of poor financial planning is?

Accepted Answer

All of the above

Question 19

A way of payment that is a slip of paper which shows money amount, bank and signature is?

Accepted Answer

Cheque

Question 20

Which of the following is NOT providing a service?

Accepted Answer

Table

Question 21

Money that is received on a regular basis is known as?

Accepted Answer

Income

Question 22

The amount you pay to an insurance company for their guarantee to pay for damages is called?

Accepted Answer

Premium

Question 23

How do you calculate commission?

Accepted Answer

Amount sold x (commission rate/100)

Question 24

An online stockbroker is characterised by?

Accepted Answer

No advice and cheaper

Question 25

The travel insurance premium you would pay to go to Antarctica is more likely to be?

Accepted Answer

High

Question 26

A person who owes money is called?

Accepted Answer

Debtor

Question 27

Taking a certain amount of money out of the borrowers wages is called?

Accepted Answer

Garnisheed

Question 28

The purchase of an item without thinking and of an item that you probably do not need is?

Accepted Answer

Impulse Buying

Question 29

Which of the following items would you buy at a convenience store?

Accepted Answer

Magazine

Question 30

Who is the person that guarantees your ability to repay a loan?

Accepted Answer

Guarantor

Question 31

A person who is owed money is called a?

Accepted Answer

Creditor

Question 32

Why do people invest money?

Accepted Answer

All of the above

Question 33

Reposession occurs when?

Accepted Answer

Cannot pay a secured loan

Question 34

A contract must always be written?

Accepted Answer

False

Question 35

What you choose to buy from the canteen each day is a?

Accepted Answer

Variable expenditure

Question 36

Which of these professions earns a wage?

Accepted Answer

Builder

Question 37

A store manager would normally be paid by?

Accepted Answer

Salary

Question 38

Which of the following is a retail store?

Accepted Answer

Myers

Question 39

Which of the following is an element of a simple contract?

Accepted Answer

Offer

Question 40

Inflation is?

Accepted Answer

Natural price increases

Question 41

Why are some people willing to invest in high risk investments?

Accepted Answer

High returns

Question 42

What is the name of a plan of your future income and spending called?

Accepted Answer

Budget

Question 43

What is interest?

Accepted Answer

Money that is paid on borrowing

Question 44

What type of good can be repossessed?

Accepted Answer

Car

Question 45

Which of these professions earns a salary?

Accepted Answer

Accountant

Question 46

What is responsible financial management?

Accepted Answer

Making the best choices with your limited funds

Question 47

Financial planners are obligated by law to give the best advice for the client.

Accepted Answer

True

Question 48

Which of the following is NOT a Discount Variety Store?

Accepted Answer

David Jones

Question 49

Savings = ____________________-___________________.

Accepted Answer

Income-expenses

Question 50

ASIO stands for?

Accepted Answer

Australian Security Intelligence Organisation

Question 51

A person who is unable to meet all of their debts is called?

Accepted Answer

Bankrupt

Question 52

The process of checking for the price of the sale item in multiple places is known as?

Accepted Answer

Comparison Shopping

Question 53

The process of consumer's righting a wrong is known as?

Accepted Answer

Redress

Question 54

Which of the following are NOT substitutes?

Accepted Answer

Pie and Sauce

Question 55

Why typifies a pay day loan?

Accepted Answer

Extremely high interest rates

Question 56

What is not a good reason for borrowing money?

Accepted Answer

To take advantage of a credit card deal

Question 57

"___________________" is the money paid by the government to help people in need.

Accepted Answer

Social Welfare

9 Commerce

Questions 57

9 Commerce

Questions 57