Consumer and Financial Decisions

What is the Latin term meaning ‘let the buyer beware’?

• Careful emptor

• Caveat emptor

• Caveat empty

• Caviar emperor

A common scam is referral selling. What does this usually involve?

• The consumer being offered a ‘special deal’ if they pay in cash.

• The consumer being offered a ‘special deal’ if they buy the product and provide their names as referees for the shop assistant.

• The consumer being offered a ‘special deal’ if they buy the product and provide names of potential customers.

• All of the above

In Australia, which of the following describes a compulsory savings scheme for retirement?

• A credit card

• A personal loan

• A term deposit

• A superannuation scheme

Since January 2011, a single consumer law has been in force across Australia. It ensures that when you buy products and services they come with automatic guarantees that they will work and do what you asked for. What is this law called?

• Australian Goods and Services Law (AGSL)

• Australian Consumer Law (ACL)

• Australian Fair Trading Law (AFTL)

• Australian Fair Price Law (AFPL)

List the government and independent organisations that provide assistance for consumers.

How this quiz can be improved?

• By adding more questions

• By changing the questions

• Simplifying the level of questions

• None of the above