Warm-Up
May be for immediate needs for comfort or sustenance, or longer term needs such a security or a permanent residence.
Spending
is the transfer of risk from an individual (the insured) to an insurer.
Insurance
It is the primary business of financial planners.
Financial product advice
A __________ is an individual who develops financial strategies, usually for retail clients to build their wealth and/or protect it to achieve their client’s lifestyle goals.
Financial Planner
Can structure estates and wills and prepare legal documents, but cannot provide financial advice.
Solicitors
Normally occur as an alternative to borrowing or credit to fund a future purchase.
Short-term savings needs
Occurs when the government spends more than it generates through taxes and other revenue.
Budget Deficit
Is responsible for monitoring compliance with the operating rules of the exchange, such as listing rules and continuous disclosure by entities
Australian Securities Exchange (ASX)
Is a term traditionally used to describe someone who acts for a principal, such as a product provider, and who can bind the principal by their actions.
Agents
An advice to create a capital base sufficient to provide income for clients and their dependants after they retire.
Retirement funding
Assets can be expected to grow in value over time and provide an income return through rent.
It Allows the exchange of money between spenders, savers, lenders, borrowers, and investors.
Financial System
The collection and use of personal information is a requirement in the financial advising and credit processes.
Privacy Act
They analyse financial products and economic and business conditions to support financial planners.
Research Specialist
Which Australian Privacy Principle refers to "to ensure entities deal appropriately with information that they receive. "
Dealing with unsolicited personal information
It is where the risk is temporary because the circumstances that create the risk are for a limited period.
Short-term Insurance
Occurs when government receipts exceed expenditure, thus enabling the government to redeem previously incurred debts.
Budget Surpluses
The_________________ seeks to strike a fair balance between the interests of insurers, the insured and other members of the public.
Insurance Contracts Act 1984
It was established in 1992 and has been at the forefront of changing the face of financial planning from an industry to a profession that earns consumer confidence and trust.
The Financial Planning Association of Australia (FPA)
The_________brings the regulation of consumer credit into one federal Act. It replaced state legislation and the Uniform Consumer Credit Code (UCCC)
National Consumer Credit Protection Act 2009 (Cth) (NCCP)
Are organisations and individuals that offer financial products or financial advice to the general public.
Financial services providers
It was introduced to record financial transactions involving investment between Australia and the rest of the world.
Financial Account
It is the principal revenue collection agency of the Australian Government. Its role is primarily to collect revenue but it also regulates self managed superannuation funds (SMSFs) and administers the Superannuation Guarantee Act 1992 (Cth) and elements of the Superannuation Industry (Supervision) Act 1993 (Cth).
Australian Tax Office (ATO)
For a financial planner to act in the client’s best interests they must follow the eight steps of the ‘________’ test set down in the Corporations Act.
Safe Harbour
The duty of the___________is to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.
Reserve Bank of Australia (RBA)