Financial Literacy Quiz

Who is the current Prime Minister of Australia?

• David Hurley

• Peter Dutton

• Anthony Albanese

• Steven Miles

What does ASIC stand for?

• Australian Society for Investment and Commerce

• Australian Securities and Investment Commission

• Association for Securities and Investment Companies

• Australian Security and Investment Corporation

What are the owners in a company referred to?

• Managers

• CEOs

• Shareholders

• Partners

What is the role of the person named Peter Dutton?

• Governor of Qld

• Prime Minister

• Leader of the Opposition (federal)

• Federal Budget Presenter

What is the definition of "law"?

• A set of rules imposed on all members of a community which are officially recognized and enforceable by persons or organizations such as the police and/or courts.

• A collection of guidelines that are suggested but not enforced.

• A historical document that outlines the cultural norms of a society.

• A personal belief system that varies from individual to individual.

What are the profits of a company that are paid to investors called?

• Shares

• Bonds

• Dividends

• Returns

What does "natural justice" refer to in Australian courts?

• The body of principles used to ensure the fairness and justice of the decision-making procedures of courts, including the right to present your case, the right to freedom from bias by decision-makers, and the right to a decision based on logically relevant evidence.

• The natural laws that govern the physical world and are applied in court settings.

• The use of environmental laws in court decisions.

• The traditional practices used by indigenous people in legal matters.

What is the primary focus of restorative justice?

• An approach in which the victim/survivor and offender (and sometimes other persons affected by a crime) participate actively together in the resolution of matters arising from the crime, generally with the help of a facilitator.

• A legal process focused solely on punishing the offender.

• A system where only the victim's rights are considered in the resolution of a crime.

• A judicial process that excludes the participation of the victim or the community.

What principle does the "separation of powers" establish?

• A legal principle that establishes discrete and distinct power between the legislative, executive, and judicial arms of government to provide for checks and balances.

• A system where all powers are held by a single branch of government.

• A political theory that all branches of government should have equal powers.

• A method of dividing powers equally among the citizens of a country.

What is the definition of bankruptcy?

• A legal term used when a business decides to renew its strategies.

• A legal term for when a person or business cannot repay their outstanding debts.

• A financial strategy for increasing a company's assets.

• A method of reducing liabilities through financial planning.