6.2 Saving Types

What is an advantage of investing vs saving?

• Lower risk
• You can access your money at any time.

• Higher risk

• You can collect interest.

Select all correct answers.

What are advantages of saving vs investing?

• You can access your money at any time.

• Low risk

• High risk

• You can collect interest

What does GIC stand for?

• Global Investment Corporation
• Guaranteed Investment Certificate
• Great Investment Choice
• General Insurance Company

What are pros of GICs compared to other investments?

• High returns and high-risk
• Unpredictable returns and high-risk
• Guaranteed returns and low-risk
• No returns and low-risk

Select all cons of GICs.

• Easy access to money

• Difficult access to money

• High interest

• Low interest

• High risk

Over the last few decades, which method has offered a higher interest rate?

• Bank Savings Account

• GICs

• Bonds

Select all true statements about bonds.

• Offered higher interest than GICs over the past several years.

• Periodic interest.

• Lumpsum interest at maturity.

• Offered lower interest than GICs over the past several years.

• You usually receive your principal at maturity.