Personal Finance Flashcards
1
Q
4 functions of money
A
- Medium of exchange
- Standard of value
- Store of value
- Standard of future payment - budgeting
2
Q
Liquidity, risk, and user of RRSP
A
- Not very liquid
- No risk
- Anyone
3
Q
Liquidity, risk, and user of RESP
A
- Not very liquid
- No risk
- Anyone with children
4
Q
Liquidity, risk, and user of CSB’s
A
Canada Savings Bonds
- Very liquid
- No risk
- Pre to Early Career
5
Q
Liquidity, risk, and user of Corporate Bonds
A
- Fairly liquid
- Risk varies
- Career to Pre Retirement
6
Q
Liquidity, risk, and user of Stocks
A
- Very liquid
- Risk varies
- Career to Pre Retirement
7
Q
Liquidity, risk, and user of TFSA
A
- Very liquid
- Low risk
- Anyone
8
Q
Liquidity, risk, and user of GIC’s
A
- Not very liquid (locked for a period of time)
- No risk
- Early career
9
Q
What are the 3 credit bureaus in Canada?
A
- TransUnion
- Experian
- Equifax
