Money
The Australian notes are issued by .......?
The Reserve Bank of Australia (RBA).
At what age can you begin to buy and sell shares in Australia?
over 18 years old.
Name 3 forms of payments other than cash.
Apple Pay, Debit card, Credit card, Afterpay, checks, bank transfer.
Who is responsible to contribute to your Super account?
Your employers and yourself.
What kind of technology does cryptocurrencies based on?
blockchain technology.
Name all the Australian notes
$5, $10, $20, $50, $100
What is dividend?
a portion of company profits divided and paid to shareholders per share owned.
What is the most common currency pairs?
EUR-USD. 1 EUR = 1.10 USD
When can a person withdraw money from their Super account?
retirement or turn 65 years old, pandemic, or no longer able to work.
Name 3 pros of investing in cryptocurencies.
potential high returns, no central authority, market opens 24/7, quick and easy transaction, blockchain technology is highly secure.
Australia's coins are made by the .......?
Royal Australian Mint
What is tax?
The portion of money paid to the Government from your income.
What is the targeted inflation rate?
Between 2-3%.
What is the minimum amount that employers must pay into Super?
10.5% of gross salary and wages.
Name 3 cons of investing in cryptocurrencies.
Price volatility, not widely accepted, can be hacked, no refund or cancellation
What is the limit on the number of coins hand over to a shopkeeper when using the 5c, 10c, 20c, and 50c?
What are interest rates?
The percentage of a sum of money charged for its use.
What is a normal unemployment rate in Australia?
Between 3-5%
What is the difference between Retail Super Fund and Industry Super Fund?
Retail Super Funds are typically run by banks for profit.
Industry Super Funds are developed by heads of industries, that are not-for-profit funds.
When was cryptocurrency first introduced?
Bitcoin in January 2009.
Who are featured on the $10 banknote?
AB 'Banjo' Paterson (1864–1941)
and Dame Mary Gilmore (1865–1962)
What type of account do you use to invest in the stock market?
Brokerage account
Explain the effect of high inflation on a country's currency.
high inflation causes the currency to depreciate, hence, making it less attractive to foreign investors.
What is the cap for the total Super balance?
$1.7 million.
Who is the man who is believed to be the father of Bitcoin?
Satoshi Nakamoto.