Towards Independence

Belinda came home from work to find her rented flat had been burgled. The thief had stolen her laptop, jewellery and television. Which type of insurance would protect Belinda?

• Home Insurance

• Home Contents Insurance

• Public Liability Insurance

• Life Insurance

Which of the following is an advantage of buying goods with cash?

• You have to wait until you have saved sufficient funds

• Convenience of carrying large amounts of money

• Avoiding the pitfalls of debt

• Easy to keep a record

Which of the following would be considered an initial cost in buying a car?

• Stamp duty

• Insurance

• Registration

• Servicing

What is the cost of borrowing money?

• Utility

• Kitty

• Interest

• Bond

What is the main federal government welfare agency that provides financial assistance to those in need?

• Department of Communities Services and Justice

• Centrelink

• Department of Social Services

• The Salvation Army

Which of the following best describes an insurance premium?

• The amount of money to be paid to receive insurance cover

• The person who is covered by the insurance policy

• The company that is providing the insurance

• Items that an insurance policy specifically covers

Which of the following statements concerning a rental bond is true?

• It is usually two weeks rent.

• It is used to cover the landlord for any damages or repair costs.

• The money is lodged with the real estate agent.

• All of the above

Which of the following refers to the person who owns a property being rented?

• Landlord

• Tenant

• Insurer

• Supplier

Referring to the statements, which of the following is correct?

Statement I: The Australian Consumer Law applies only to physical commerce in Australia.

Statement II: The Australian Consumer Law applies to physical commerce and to goods bought online from Australian-based businesses.

• Statement I is TRUE and statement II is FALSE.

• Statement I is FALSE and statement II is TRUE.

• Both statements are TRUE.

• Both statements are FALSE.

Jane has just moved into an apartment in the inner city. Which of the following would be classified as an ongoing cost for Jane?

• Rental bond

• Telephone reconnection

• Electricity

• Whitegoods