G7 Term 1 CES module 1.3 key point 1-2 (matching)

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

Match the following uses of money with their descriptions:

Consumption = Using money to purchase goods and services Savings = Setting aside money for future use Investment = Allocating money with the expectation of generating a return Donations = Giving money to support a cause or charity

Match the following elements of borrowing with their definitions:

Principal = The initial amount borrowed Interest = The cost of borrowing expressed as a percentage Borrowing period = The duration over which the loan is repaid Cost of borrowing = Total amount repayable including interest

Match the following priorities in setting a budget with their meanings:

Needs = Essential items required for survival Wants = Non-essential items desired for comfort or pleasure Choices = Decisions made based on prioritization Budget = A plan for managing income and expenses

Match the following uses of money with their descriptions:

<p>Consumption = Spending money on goods and services Saving = Setting aside a portion of income for future spending Investment = Putting money into investment tools Donation = Contributing money to charities or people in need</p> Signup and view all the answers

Match the aspects of borrowing with their definitions:

<p>Principal = The amount of money a lender lends to a borrower Interest = The return that the lender receives from the borrower Borrowing period = The duration for which the money is borrowed Default = Failure to repay the borrowed amount on time</p> Signup and view all the answers

Match the following investment risks with their implications:

<p>Higher risk = Potential for higher returns Lower risk = Stability with lower potential returns Investment fraud = Deception for financial gain Market volatility = Fluctuations in investment prices</p> Signup and view all the answers

Match the following concepts of prioritization in budgeting:

<p>Things we need = Items necessary for basic living Things we want = Items not necessary for daily living Rational consumption = Buying necessary items first Overspending = Buying items without enough funds</p> Signup and view all the answers

Match the following financial services with their functions:

<p>Deposits = Safekeeping money in financial institutions Loans = Borrowing money from financial institutions Insurance = Protection against financial loss Investment = Allocating funds to generate returns</p> Signup and view all the answers

Match the components of proper budgeting with their formulas:

<p>Income = Total earnings before expenses Savings = Portion of income set aside for future use Expenditure = Income minus Savings Budget surplus = Expenditure less than income</p> Signup and view all the answers

Match the following risks associated with borrowing:

<p>High interest rates = Increased cost of borrowing Potential for default = Risk of failing to repay the loan Collateral requirement = Assets pledged to secure a loan Credit rating impact = Effect on ability to borrow in the future</p> Signup and view all the answers

Match the following online shopping risks with their descriptions:

<p>Online scams = Purchasing from unreliable websites Personal data theft = Sensitive information being accessed by unauthorized parties Product mismatch = Items received not aligning with their online description Overspending = Accumulating debt due to excessive online purchases</p> Signup and view all the answers

Match the following coping strategies with their actions:

<p>Use credible platforms = Shop on well-known and reputable websites Utilize secure payments = Opt for payment methods with fraud protection Protect personal data = Take measures to secure private information Understand return policies = Review the conditions for returning online purchases</p> Signup and view all the answers

Match the following aspects of intellectual property issues with their explanations:

<p>Counterfeit goods = Fake items that imitate genuine products Infringing works = Unauthorized use of copyrighted material Intellectual property rights = Legal entitlements that protect creative works Digital piracy = Illegal distribution of copyrighted content online</p> Signup and view all the answers

Match the following consumers' responsibilities with their descriptions:

<p>Understanding cybersecurity = Being aware of potential online threats Enhancing network security = Improving protection against unauthorized access Avoiding legal issues = Being informed to prevent unlawful activities Practicing safe shopping = Employing strategies to minimize risks in purchases</p> Signup and view all the answers

Match the following importance of cybersecurity with their impacts:

<p>Protection from cyberattacks = Defending against malicious online activities National security safeguard = Ensuring the safety of a country's information systems Individual protection = Securing personal data from breaches Organizational defense = Shielding businesses from data theft and fraud</p> Signup and view all the answers

Match the investment types with their associated risk and return characteristics:

<p>Bank deposits = Lowest risk and lowest expected return Stocks = Higher expected return and higher risk Bonds = Moderate risk and moderate return Cryptocurrencies = High risk and highly volatile returns</p> Signup and view all the answers

Match the stages of investment fraud with their correct descriptions:

<p>Approaching the victim = Initial contact to introduce the investment Gaining the victim's trust = Building a relationship to ensure compliance Deceiving the victim = Providing false information to manipulate decisions Avoiding detection = Implementing tactics to escape scrutiny</p> Signup and view all the answers

Match the preventive measures against investment fraud with their correct explanations:

<p>Stay vigilant = Be aware of potential red flags Learn about financial management = Understand investment principles and risks Consult experts = Seek advice from financial professionals Beware of frauds = Recognize common tactics used in scams</p> Signup and view all the answers

Match the terms related to investment to their definitions:

<p>Risk = The potential for loss or lower-than-expected returns Return = The gain or profit from an investment Fraud = Deliberate deception for unfair gain Investment vehicle = Any method used to invest money</p> Signup and view all the answers

Match the fraudulent tactics with their primary focus:

<p>Approaching the victim = Initiating contact Gaining the victim's trust = Creating a personal connection Deceiving the victim = Conveying false confidence Escaping scrutiny = Covering tracks after the scam</p> Signup and view all the answers

Match the method of online shopping fraud with its description:

<p>Fraudulent Online Stores = Creating fake social media pages to sell non-existent items Check Fraud Schemes = Using counterfeit checks to impersonate legitimate buyers Phishing Emails = Sending fraudulent emails to steal personal information Fake Online Auctions = Listing items for auction that the seller does not possess</p> Signup and view all the answers

Match the following financial terms with their correct definitions:

<p>Principal = The interest expressed as a percentage of the principal Accumulated Amount = The sum of the principal and interest Interest Rate = The return a lender receives from the borrower Compound Interest = Interest calculated on the principal and the accumulated interest</p> Signup and view all the answers

Match the strategy for assessing seller credibility with the corresponding action:

<p>Examine social media presence = Look for discrepancies in company location Check page creation date = Determine the age of the social media page Analyze follower count = Assess whether the number of followers is suspiciously high Monitor page name changes = Identify any frequent modifications to the seller's page name</p> Signup and view all the answers

Match the risk mitigation strategy for online buyers with its purpose:

<p>Cash-on-delivery = Allows payment upon receiving the goods in person Prioritize reputable sellers = Reduces chances of encountering fraudsters In-person transactions = Minimizes online payment risks Cyber Defender Application = Helps verify identity and information of buyers or sellers</p> Signup and view all the answers

Match the following concepts related to investing with their associated descriptions:

<p>Dividend = The return for owning a company's stock or share Inflation = A persistent increase in the price level over time Shareholder = A person who owns shares in a company Creditor = A person who lends money or extends credit</p> Signup and view all the answers

Match the recommendation for sellers to prevent check fraud with the rationale:

<p>Verify available balance = Confirms successful fund transfer Trust bank notifications = Assumes payment is received based solely on updates Seek high-quality checks = Relies on verified check appearance to ensure legitimacy Delay item shipment = Waiting for clear funds to avoid sending items prematurely</p> Signup and view all the answers

Match the following aspects of spending with their explanations:

<p>Overspending = Consumption exceeds a person's basic needs Affordability = The ability to support expenditures within means Saving = Putting aside money for future use Budgeting = Planning out revenue and expenses</p> Signup and view all the answers

Match the type of fraud with an example of its execution:

<p>Fraudulent Online Stores = Blocking buyers after receiving payment Check Fraud Schemes = Providing falsified bank receipts Identity Theft = Stealing personal credentials through phishing Fake Product Reviews = Posting fictitious positive reviews to create a false impression</p> Signup and view all the answers

Match the following components of loan terms with their definitions:

<p>Interest = The borrower's cost of having the money earlier Borrowing Period = The duration of a loan Return = An increase in wealth Risk = The likelihood or uncertainty of loss</p> Signup and view all the answers

Match the following concepts in cybersecurity with their meanings:

<p>Network Infrastructure = The physical and virtual resources that support network services Information Security = Protecting information from unauthorized access and disclosure Operation Security = Processes that protect sensitive information from being accessed Services = Works that provide network and information security</p> Signup and view all the answers

Match the following credit risks with their potential consequences:

<p>Lower credit scores = Reduced ability to borrow in the future Bankruptcy = Legal status of being unable to pay debts Stress = Mental health issues related to financial troubles Debt collector calls = Aggressive collection attempts by creditors</p> Signup and view all the answers

Match the following types of deposit services with their characteristics:

<p>Savings Deposits = Withdraw any time Time Deposits = Fixed period before withdrawal allowed Relatively low interest = Common for savings deposits Relatively high interest = Typical for time deposits</p> Signup and view all the answers

Match the following questions to consider before borrowing with their intentions:

<p>Is the cause reasonable? = Evaluate the necessity of the loan Are there other options? = Identify alternatives to borrowing Can you handle the risk of late repayment? = Assess your ability to manage debt Is the borrowing amount appropriate? = Ensure the amount aligns with needs</p> Signup and view all the answers

Match the following types of loan services with their definitions:

<p>Credit card lending = Revolving credit facility Personal Loan = Unsecured loan for personal use Mortgage = Loan secured by real estate Overdraft = Credit facility tied to a bank account</p> Signup and view all the answers

Match the following types of insurance services with their coverage specifics:

<p>Life Insurance = Financial support for beneficiaries upon death Medical Insurance = Coverage for health-related expenses Accident Insurance = Compensation for injuries from accidents Home Insurance = Protection for property against damages</p> Signup and view all the answers

Flashcards are hidden until you start studying

Study Notes

Different Uses of Money

  • Money can be used for different purposes, including consumption, saving, investment, and donation.
  • Consumption involves using money to buy goods and services.
  • Saving involves putting money aside for future use.
  • Investment involves using money to purchase assets (stocks, bonds, property) with the hope of generating a return.
  • Donation involves giving money to charities or individuals in need.

Setting Priorities and Budget

  • When managing money, it's important to distinguish between "needs" and "wants."
  • "Needs" are essential for everyday life, without them, life would be difficult. Examples include food, shelter, clothing, and medical care
  • "Wants" are items that can enhance quality of life, and we can live without them. Examples include entertainment, leisure activities, and luxury items
  • A budget can help individuals track their income and expenses.
  • By prioritizing needs over wants, individuals can make sure they have enough money to cover essential expenses.

Responsibilities, Costs, and Risks of Borrowing

  • Borrowing involves taking out a loan from a lender (creditor).
  • The borrower (debtor) needs to pay back the principal amount borrowed and interest.
  • The interest rate is a percentage of the principal that the borrower repays to the lender as a cost for borrowing the money.
  • Borrowing involves risk, especially if the borrower is unable to repay the loan.
  • This can lead to a lower credit score, bankruptcy, or financial distress.

General Financial Services Provided by Financial Institutions

  • Financial institutions offer various services, including deposit services, loan services, insurance services, and investment services.

Deposit Services

  • Savings Deposits: Allow for withdrawals at any time, and offer relatively low returns.
  • Time Deposits: Require a fixed deposit period, with money only accessible at the end of the term. They typically have higher interest rates than savings deposits.

Loan Services

  • Credit Card Lending: Allows individuals to borrow money and repay it through monthly installments.
  • Personal Loans: Borrowings intended for personal use.
  • Mortgage: Long-term loans used to purchase real estate, repaid with monthly installments.
  • Overdraft: Allows individuals to temporarily withdraw more money from their accounts than balance available.

Insurance Services

  • Life Insurance: Provides financial protection to beneficiaries in case of the policyholder's death.
  • Medical Insurance: Helps cover medical expenses.
  • Accident Insurance: Provides financial compensation for accidents.
  • Travel Insurance: Covers unforeseen events while traveling abroad.
  • Home Insurance: Protects homes from damages.
  • Critical Illness Insurance: Provides financial assistance for critical illness.

Investment Services

  • Stock: Represents ownership in a company, with potential for capital gains and dividends.
  • Bonds: Represents a loan to a company or government, with fixed interest payments and return of principal at maturity.

Investment Risks and Returns

  • Investment returns are not guaranteed.
  • Different investment products have varying levels of risk and returns.
  • Generally, a higher risk investment comes with a higher potential return, but also carries a higher risk of losing money.
  • Investors should be aware of investment fraud tactics.

Online Shopping Precautions

  • Online transactions carry risks, including scams, data leaks, and product mismatches.
  • It's essential to use reputable online platforms, prioritize security, and avoid online shopping addiction.
  • Understand intellectual property rights, including counterfeiting and infringement.
  • Stay vigilant against crimes related to online shopping and protect personal information.
  • It is important to enhance cybersecurity measures and stay informed about online scams.
  • Online shopping can be a convenient way to purchase goods and services, but it is important to be aware of the risks and take steps to protect yourself.

Credit Card

  • Credit cards offer a non-cash payment method.
  • They allow individuals to borrow money from the issuing company and repay it over time.
  • However, it's crucial to manage credit card spending responsibly and avoid overspending.

Cybersecurity

  • Cybersecurity encompasses the protection of network infrastructure, services, information and operations.
  • It is crucial for a healthy information society and safeguards national security.
  • Individuals, organizations, and governments should prioritize cybersecurity measures to protect against cyberattacks and cybercrimes.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser