What is a cooling-off period?

14 days to change your mind after buying something

What is an Investment?

Putting money into something in order to make a profit

The 4 main types of investments are.....

Superannuation, Managed Funds, Shares & Property

Who monitors the financial services industry in Australia?

Australian Securities & Investments Commission (ASIC)

What are some of the responsibilities & legal obligations of lenders / financial institutions?

To be honest, fair and reasonable

Stocks and shared held by an individual

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Yr 9 Commerce

16 termsStudBud Administration138 plays

Yr 9 Commerce Quiz to revise some topics in Personal Finance

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Questions 16

Answers

1
The less money a person has to invest the more risk they must take to make more money
False
True
2
What debt is the greatest debt facing Australians other than Personal loans or Mortgages?
Credit Cards
Debit Cards
Reward Cards
Loyalty Cards
3
Why do some investments fail?
Investors fail to research their range of investment options
Investors took advice from friends
All of the above
Investors not regularly checking their returns on investment
4
What are some of the services offered by Financial Services organisations?
Retirement Planning
Insurance
Loans
All of the above
5
What is a cooling-off period?
28 days to change your mind after buying something
14 days to change your mind after buying something
10 days to change your mind after buying something
Having a cold shower on a hot day
6
If you find yourself in financial difficulty, from where can you obtain assistance?
Psychologist
Financial Services Organisations
Financial Counsellor
Mum or Dad
7
What is an Investment?
Saving money for an overseas holiday
Putting money into something in order to make a loss
Putting money into something in order to make a profit
Obtaining a credit card
8
The 4 main types of investments are.....
Superannuation, Managed Funds, Shares & Property
Property, Motor Vehicles, Shares & Superannuation
Shares, Property, Credit Cards & Superannuation
None of the above
9
What is a portfolio?
Investing in Property
A range of investments
Investing in Superannuation
Investing in Shares
10
Who monitors the financial services industry in Australia?
Australian Securities & Investments Commission (ASIC)
The Financial Services Reform
The Future of Financial Advice legislation
The National Consumer Protection Act
11
What are some of the responsibilities & legal obligations of lenders / financial institutions?
To be dishonest, unfair and unreasonable
To make as much profit from you as they can
To be honest, fair and reasonable
To sell you as many products as they can
12
One financial consequence of poor financial management is....
Being able to obtain other loans
Bankruptcy
Social exclusion
Relationship breakdown
13
What is a PDS
Product Disclosure Statement
Pretty Damn Smart
Product Discount Statement
Product Disclosure Settlement
14
What are the consequences of poor financial management
Legal, Financial and Social
Financial, Legal and being happy
None of the above
Social, Legal and being depressed
15
What are Equities?
Stocks and shared held by an individual
Managed Funds
Superannuation
Property
16
The National Consumer Protection Act 2009 guards consumers against....
Being enticed into credit card contracts they can't afford
Lenders not fully disclosing their fees
Exploitative practices by predatory lenders
All of the above

Yr 9 Commerce Flashcards | StudBud