BB level 3 quns

what happens when you don't pay back a credit card

• you get a bad credit score baring you from higher loans

• noting

• cant enter bank until you pay it back

• you wont have access to your debit card too

How can we make sure that there are rules and systems in place to stop financial scams from harming people

• Make sure finance industries are strong and enforce rules

• Teach people more about finance

• Require clear understanding in financial transactions

• Protect people who report scams

If you borrow $1500 at an annual compound interest rate of 10%, compounded monthly, how much will you owe after 6 months?

• $2000

• $1582.76

• $3152.07

• $1576.58

If  John buys a laptop for $2180 inclusive of a 9% GST, how much GST does John pay?

• 190

• 200

• 170

• 180

can you use money without money in the bank?

• yes

• no

• you go into negatives

• i give up

How do cybercriminals trick security systems to commit financial scams/fraud and what can banks should do to stop them.

• Enhancing encryption protocols to secure financial data

• Implementing artificial intelligence for real time fraud detection

• Conducting regular security checks and updates to identify vulnerabilities

• Educating employees and customers about common tactics used in financial fraud

• Scenario: You've saved up $1000 from your allowance and chores. You'd like to invest it to grow your money for the future. Here are four investment options your parents found:

• A high-yield savings account with a variable interest rate (currently around 3%). These accounts can offer higher rates than traditional savings accounts, but the rate can fluctuate.

  
  

• A low-cost index fund that tracks a broad market like the S&P 500. Index funds generally offer lower risk than individual stocks but also have a steadier (potentially slower) growth pattern.

• A certificate of deposit (CD) with a guaranteed interest rate of 2.5% for 2 years. CDs lock your money in for a set period but offer a fixed return.

• A small investment in a company you've researched and believe in. This can offer high potential returns but also carries significant risk if the company does poorly.

Which of the following taxes is typically collected at the point of sale?

• Corporate tax

• Excise tax

•  Income tax

• Property tax

why is it important to pay back your credit card on time?

• allows only for more flexible loans

• only helps so that you can get a bigger loan

• :helps let the bank know they can trust you with larger sums of money and allows you to have larger loans

• not important

How can government prevent digital currencies from being used in financial scams?

• Make strict rules of digital currencies

• Work together internationally to fight scams across borders

• • Use advanced technology to track illegal transactions

• Teach people about the risk of digital currencies