Finance Basics
An asset or item put in place over a period with the intention of some form of appreciation or growth
What is an Investment?
A kind of book that can make money
What is a Cheque Book?
Specifies how an entity should classify and measure financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
What is IFRS9?
This paper/coin features the famous Doctor’s cave beach in Montego Bay Jamaica?
What is the $50 note?
Nyam sum, lef sum
Don’t spend all you get, save some for tomorrow
These are payments made annually or quarterly to stockholders but not by all companies
What are Dividends?
Considered rich because it has 2 banks?
What is a river?
Emerged at an important juncture in the development of the country’s financial system in 1998 to promote stability and confidence in Jamaica’s financial system.
What is the Jamaica Deposit Insurance Company ?
Born to a slave mother and a planter father who was attorney to several sugar estates in Jamaica, this hero’s portrait was featured on both old and new coin and paper notes
Who is George William Gordon?
Cow ded him lef’ trouble gi cow-skin
Make sure that you take care of your personal business before you die, so that those you leave behind are not inconvenienced
These are known as fixed-income investments
What are bonds?
A food that is nuts about money.
What is a Cash-ew?
This Government vehicle was set up to intervene in the financial sector which faced a liquidity and solvency crisis that saw several institutions go belly up
What is FINSAC?
This paper/coin features a falls located 1 mile from the town of Ocho Rios, on the northern coastline of Jamaica
What is the $100 note?
Daag sey him nah wuk; him wi’ siddung an luk, fa him mus’ get a livin
Some people prefer to wait on others to give them handouts instead on working for their own money
This is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
What is a tax?
A five letter word has only one left when two end letters are removed
What is money?
This is an internationally agreed set of reform measures intended to improve regulation, supervision, and risk management in response to the international banking crisis of 2007-2009?
What is Basel III?
This coin is 18.50mm in diameter, weighs 3.65g and has a 7-lobed shape
What is a $1 coin?
hang yuh basket whe’ yuh han’ can reach it
Don’t buy what you can’t afford
This is an estimated price at which an asset is bought or sold when both the buyer and seller freely agree on a price.
What is Fair Value?
Whoever makes it, tells it not. Whoever takes it, knows it not. Whoever knows it, wants it not
What is counterfeit money ?
Established by Law, this institution commenced operations in 1961 terminating the Currency Board System, which had been in existence since 1939
What is the Bank of Jamaica?
Not to be confused with crypto-currency, this recently approved legal tender can be exchanged dollar for dollar with physical cash
What is Digital Currency?/ Central Bank Digital Currency
Daag say if ‘im ‘ave money, ‘im wudda buy ‘im owna flea
When some people get money, they waste it on unnecessary things