Financial Risk

​People invest in order to earn a positive return on their money

​Making any sort of investment involves a financial risk. Investments include things like

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• Property

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• Superannuation

• Shares/stocks

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​Looking after your money

Multiple Choice

Investments include financial risks

• True

• False

Multiple Select

Select the 3 answers that are a type of investment

• property

• shares / bonds

• centrelink payment

• suuperannuation

​There are many types of financial institutions in Australia including banks, credit unions and building societies.

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You need to be aware of the different options available to you in financial institutions and financial products.

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​Financial Institutions

Multiple Choice

You need to be aware of different financial products available to you

• True

• False

• ​ a dishonest scheme to trap you into parting with your money

• an attempt to convince you to give the scammer money in return for a promise to do something, it's a promise the scammer never intends to keep

• use of unscrupulous means to gain access to your personal details such as credit card information

​What is a scam?

• ​ Business opportunity or employment scams

• Charity scams

• Product scams

• Pyramid schemes and chain letter scams

• Winning system scams

• Prizes and lottery scams

​Types of Scams

​Occurs when someone illegally obtains your personal details, such as bank account numbers and uses them to commit fraud

• Borrow money

• Buy items

• Open new credit card account

​Indentity Theft

Multiple Select

Which of the following options are things that could occur if your identity is stolen?

• use of your bank account details to borrow money

• use your identity to obtain a new credit card in your name

• use of your bank acccount details or credit card to buy something

• give you a new identity for a credit card application

• give you a new identity to use to buy items online

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Many ways consumers can protect themselves from financial risk

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• Make informed decisions and seek advice from qualified financial advisors

• Be aware that all investments involve some level or risk, and understand the need to weigh up risk and return

• Diversify investing in a wide range of assets – invest in several different shares and have the rest of the money split between term deposits, property and managed funds

• Have insurance, savings and superannuation

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​Protecting Yourself