WorksheetsBB level 3 quns
Total questions: 24
Worksheet time: 12mins
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
Option A offers a compound interest rate of 5% per annum, compounded quarterly. Option B offers a compound interest rate of 4.5% per annum, compounded monthly. If you invest $1000 in each option for 4 years, which option will yield a higher final amount, and by how much?
Option B, lower by $1$23.08
Option A, lower by $23.08
Option B, higher by $23.08
Option A, higher by $23.08
Which of the following taxes applies to individuals in Singapore upon the transfer of properties?
Property Tax
Estate Duty
Capital Gains Tax
Stamp Duty
how old do you have to be for your parents to help you open a credit card
18
0
16
21
Which of the following is a common red flag indicating a potential financial scam?
Guaranteed high returns with little or no risk.
Transparent and easily understandable investment strategies.
Regulatory compliance and proper licensing.
Regular communication and updates with investors.
Elwyn invests $10000 in an account that compounds interest at an annual interest rate of 5%. After 8 years, how much money will he have accumulated?
13535.32
13459.60
13598.15
14774.55
Given that the corporate tax rate is 17%, what is the corporate tax payable for a company in Singapore with a taxable income of $500,000?
$70,000
$85,000
$117,000
$170,000
how many credit cards can you have open
unlimited
1
4
6
What should you be cautious of in a financial opportunity?
Options:
Offers with no time limit.
Well-explained investment plans.
Promises of easy money without much effort.
Opportunities that require professional advice.
Mrs Lee wanted to invest in a retirement policy for her retirement. She was offered 2 different retirement policies, Policy A and Policy B. Policy A pays a simple interest of 3% per annum. Policy B pays an interest of 2.5% per annum compounded annually. She decided to buy a $50 000 retirement policy for 18 years. Determine which policy she should buy.
policy A
policy B
neither
Given the following table showing the income tax rate and the gross tax payable, how much tax will Emily have to pay if her chargeable income for the year is $32,000?
200
270
350
550
how much was lost to credit card scams last year?
Options
10 billon
over 100billion
around 8 billion
over 100 billion
what is the most common form of an financial scam
fake check/overpayment
loan offers
your long lost uncle from Zimbabwe that wants to give you his castle
fraud/impersonation
Adam invested a sum of money in a bank account paying compound interest at 2.5% per year. After 4 years, the amount grew to $674.79. Calculate the sum of money Adam invested in the account.
$582.10
$581.10
$600.23
$611.33
Calculate the total tax payable for an individual in Singapore with a chargeable income of $100,000, given that a tax amounting to $3,350 is payable for the first $80,000 and 11.5% for the remaining amount up to $40,000
$2300
$3350
$5650
$7950
