H.T.S. Crest Holy Trinity School
Grade 9 Introduction to Business
Review Sheet

Personal Finance - Unit Test

References



Practice



Requirements

In order to successfully complete the BIB1W unit test on the financial market, the student should be able to perform the following tasks:

  • discuss the various risks associated with the types of consuming commonly found within our society, as well as the general forms of consumer protection available.

  • explain the basic priniciples underlying sound investment strategy, including:

  • define and explain the significance of any of the following concepts related to long term investment strategies for young people, including:

  • Perform a calculation of compound interest on a given principal, for a given interest rate, over a given amount of time.

  • explain and demonstrate the rule of 72.

  • discuss how the Canadian government encourages independent savings for education and retirement by allowing citizens to reduce their taxable incomes by the amount which they invest within a registered plan.

  • discuss the purpose, advantages and disadvantages associated with any of the following government registered savings plans:

  • explain what is meant by the concept of "insurance";

  • describe the theory of insurance, including the historical development of "underwriting";

  • explain the law of large numbers, and outline its application to the insurance industry;

  • explain what the insurance industry means by "risk groups", and "risk control";

  • calculate the premiums for a given item and risk group (this involves calculating the rate of loss as well as the premium amount);


    Note: After you receive your marked test, you may wish to consult the online key to my marking symbols.

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