Finance in the Sport and Recreation Industry

Part A. Protect your finances. Say no to scams and keep a clean credit score.

Question One. Online fraud, Pyramid schemes, Ponzi schemes, and Credit Ratings.

  1. Give two examples of fraud in the business.

  2. What are the features of pyramid schemes and what companies today have been compared to pyramid schemes?

  3. What is a Ponzi scheme?

  4. How do you check your credit score and why is a good credit rating important?

Part B. Protect your future. Superannuation and Diversifying Your Investment Portfolio.

Question Five. Prepare for your retirement.

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  1. How do you know what your superannuation is invested in? For what reasons would you change your investment mix?

  2. Give an example of a sportsperson who overall managed their money badly and an example of a sportsperson who overall managed their money well. What general advice would you give a sportsperson in managing their money?

Question Six. Building your Investment Portfolio and Know-How Financial Products Work.

  1. What is an investment portfolio? How do you diversify your portfolio? Can you diversify your investments if you only have a small amount to invest?

  2. How do shares work? You may want to consider the process to buy or sell shares, franked dividends, unfranked dividends, ordinary shares, preference shares.

  3. List 5 tips for buying shares. You may want to consider some here, https://www.smartinvestor.barclays.co.uk/invest/investment-insight/investment-ideas-and-strategies/10-golden-rules-for-investors.html

  4. What are the steps to buy a property? Using an example of a real property for sale in Australia, demonstrate the steps and costs it would take for you to buy a property with a mortgage. You may consider the deposit, stamp duty, mortgage payments, council rates, levies. Be as specific as possible.

  5. Why do Australians often talk about gearing? Describe what negative gearing and positive gearing is.

  6. What is a cryptocurrency and do you think there is a Bitcoin bubble? You may want to consider this article, http://fortune.com/2018/01/24/young-men-buying-bitcoin/ and this article, http://www.abc.net.au/news/2018-01-19/bitcoin-is-not-the-only-bubble-beware-of-property-and-shares/9343422

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