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Consumer and Financial Decisions Flashcards | StudBud
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Consumer and Financial Decisions
Consumer and Financial Decisions
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1
a breach of contract is a legal issue as there was a written or verbal agreement between two or more parties
True
False
2
Money put aside and saved, from your current employment; for the future is known as?
Financial Plans
Budget
Superannuation
Investment
3
You are bankrupt until the Federal Court of Australia issues what order?
Garnishee
Writ of execution
Financial Bank
Sequestration
4
the giving up of something of value
comparison shopping
oppourtunity cost
consideration
decision making
5
Strategies and actions to aid financial recovery include talking to those closest to you about money.
False
True
6
proposal where one party (the offeror) offers something of value to the other party (offeree), eg money
offer
agrrement
consideration
contract
7
A writ of execution is a court order that allows your property to be seized and sold to pay off your debts.
True
False
8
a product fit for purpose, acceptable in appearance and finish, free from defects, safe and durable
Acceptable quality
Non-durable
Standard of quality
Durable
9
a set of rights and remedies for defective goods and services
fair trade act (1987)
competition and consumer act (2010)
consumer guarantee
consumer protection
10
"I'm 30 years old, live in a $3 million house, debt free. Just click the link below to find out how." What scam is this?
Referral selling
Get-rich-quick scheme
False and misleading advertising
Bait and switch selling
11
Excess debt may cause relationships to strengthen
True
False
12
Legal consequences of poor financial management includes:
Inability to maintain lifestyle choices, stree and self-doubt
The break down of relationships, stress and doubt
Diminishing personal and/or social life
The bank taking your assets, stress and liquidation
13
What type of scam is this?
Special prizes and offers
False and misleading advertising
Unordered and unsolicited goods
Unethical advertising
14
A creditor is a person or business to whom you owe money?
False
True
