O Chapter 4 Introduction to financial products and consumer needs

Question 1

Range of benafits

Answer 1

benafits on:
* unpredictable events (if and when?)
* certan events (when?)
* immediate consumption
* predictable in time
* from accumulation of disposable income and capital

Question 2

Main types of provison categories

Answer 2

• social security
• financial products
• contracts
• schemes
• transactions

Question 3

Main types of social security benefits that may be offered by the State

Answer 3

• Retirement pensions including survivor benefits
• Medical care
• Income support due to unemployment, illness or disability
• Housing support due to low income
• Child support
• Long-term care support