Q1: Your digital identity or "persona" is made up of your social media and forum posts, opinions and such. Your username and password are part of your security information, not your digital identity. Your personal information such as your NRIC number, ATM pin and bank details should never be posted online as they are sensitive information.

Q2: When you come across a web page that is labelled “Not Safe for Work (NSFW)”, you should avoid viewing the web page no matter where you are. NSFW content can be inappropriate or explicit and it's best to avoid it to maintain a professional and respectful online presence.

Q3: A strong password is one that is complex and hard to guess. The example "K938929110fp" is a strong password as it includes a mix of uppercase letters, numbers, and special characters.

Q4: 'Fake News' is defined as information about current events which may be provided through many different media: word of mouth, printing, postal systems, broadcasting, etc. It is often intentionally misleading or false information spread to influence people's views.

Q5: The social impact resulting from Fake News being published can cause distress & alarm and monetary losses. It can lead to misinformation, panic, and can even influence political and social situations.

Q6: The CPFTA stands for Consumer Protection Fair Trading Act. It is a law that protects consumers against unfair practices and ensures a fair and safe trading environment in Singapore.

Q7: The CPFTA covers false claims, defective goods, and misleading claims. Illegal goods are not covered under the CPFTA, they are dealt with under different laws and regulations.

Q8: Under the “Lemon Law” in Singapore, consumers can generally make a claim for a defective product within 6 months from the time of purchase.

Q9: The retailer can compensate the consumer in ways such as repair, replacement, or refund. Re-negotiation is not one of the ways a retailer can compensate a consumer.

Q10: Decoy Pricing is a marketing gimmick that entices consumers by introducing a product to encourage them to purchase the more expensive product.

Q11: If an instalment plan quotes a monthly interest rate of 2%, the effective annual interest rate would be more than 24%. This is because the interest is compounded monthly.

Q12: To avoid being influenced or swayed by any sales talk, we should do our research. This allows us to make informed decisions based on facts and not on persuasive sales tactics.

Q13: The 3 suggested steps to avoid scams are Ask, Check and Confirm. This means you should ask questions, check the legitimacy of the offer, and confirm the details before proceeding.

Q14: An investment scam often seems like a legitimate business opportunity. Scammers often make their schemes appear as legitimate as possible to attract victims.

Q15: Based on a salary of $2500, the employee's contribution for a Singapore employee to his or her CPF accounts is $600.

Q16: The types of CPF account are Special Account, Ordinary Account, and Medi-Save Account. Medi-Life Account is not a type of CPF account.

Q17: The benefits of making a voluntary contribution to your Special Account include earning a higher interest rate. This can help grow your savings faster.

Q18: The most expensive recurring cost for a flat with the least down payment is interest. This is the cost you pay for borrowing money to purchase the flat.

Q19: Stamp Duty is not a recurring cost. It is a one-time cost paid when you purchase a property. Recurring costs are ongoing costs such as conservancy charges, property tax, and property insurance.

Q20: The maximum loan repayment period for HDB loans is 25 years.

Q21: The statement "To be safe, you need to have insurance for every aspect of your life" is false. It is important to have insurance for key areas such as health and property, but not every aspect of life requires insurance.

Q22: When purchasing insurance policies, it is important to strike a balance between coverage and affordability. You want to ensure you have adequate coverage, but it should also be within your budget.

Q23: A reason to start investing early is not that a long investment horizon will mean you can focus on get-rich-quick schemes. These schemes are often risky and unreliable. Instead, a long investment horizon allows you to harness the power of compounding, ride out short term fluctuations in the market, and develop a diversified investment portfolio over time.

Q24: A typical diversified portfolio includes a mixture of ETF’s, stocks, and bonds. These different types of investments can help spread risk and increase potential returns.

Q25: Insurance coverage is not a factor to consider when investing. Factors to consider when investing include financial objectives, risk profile, and investment horizon.

Question

Q1: Your digital identity or "persona" is made up of your social media and forum posts, opinions and such. Your username and password are part of your security information, not your digital identity. Your personal information such as your NRIC number, ATM pin and bank details should never be posted online as they are sensitive information.

Q2: When you come across a web page that is labelled “Not Safe for Work (NSFW)”, you should avoid viewing the web page no matter where you are. NSFW content can be inappropriate or explicit and it's best to avoid it to maintain a professional and respectful online presence.

Q3: A strong password is one that is complex and hard to guess. The example "K938929110fp" is a strong password as it includes a mix of uppercase letters, numbers, and special characters.

Q4: 'Fake News' is defined as information about current events which may be provided through many different media: word of mouth, printing, postal systems, broadcasting, etc. It is often intentionally misleading or false information spread to influence people's views.

Q5: The social impact resulting from Fake News being published can cause distress & alarm and monetary losses. It can lead to misinformation, panic, and can even influence political and social situations.

Q6: The CPFTA stands for Consumer Protection Fair Trading Act. It is a law that protects consumers against unfair practices and ensures a fair and safe trading environment in Singapore.

Q7: The CPFTA covers false claims, defective goods, and misleading claims. Illegal goods are not covered under the CPFTA, they are dealt with under different laws and regulations.

Q8: Under the “Lemon Law” in Singapore, consumers can generally make a claim for a defective product within 6 months from the time of purchase.

Q9: The retailer can compensate the consumer in ways such as repair, replacement, or refund. Re-negotiation is not one of the ways a retailer can compensate a consumer.

Q10: Decoy Pricing is a marketing gimmick that entices consumers by introducing a product to encourage them to purchase the more expensive product.

Q11: If an instalment plan quotes a monthly interest rate of 2%, the effective annual interest rate would be more than 24%. This is because the interest is compounded monthly.

Q12: To avoid being influenced or swayed by any sales talk, we should do our research. This allows us to make informed decisions based on facts and not on persuasive sales tactics.

Q13: The 3 suggested steps to avoid scams are Ask, Check and Confirm. This means you should ask questions, check the legitimacy of the offer, and confirm the details before proceeding.

Q14: An investment scam often seems like a legitimate business opportunity. Scammers often make their schemes appear as legitimate as possible to attract victims.

Q15: Based on a salary of $2500, the employee's contribution for a Singapore employee to his or her CPF accounts is $600.

Q16: The types of CPF account are Special Account, Ordinary Account, and Medi-Save Account. Medi-Life Account is not a type of CPF account.

Q17: The benefits of making a voluntary contribution to your Special Account include earning a higher interest rate. This can help grow your savings faster.

Q18: The most expensive recurring cost for a flat with the least down payment is interest. This is the cost you pay for borrowing money to purchase the flat.

Q19: Stamp Duty is not a recurring cost. It is a one-time cost paid when you purchase a property. Recurring costs are ongoing costs such as conservancy charges, property tax, and property insurance.

Q20: The maximum loan repayment period for HDB loans is 25 years.

Q21: The statement "To be safe, you need to have insurance for every aspect of your life" is false. It is important to have insurance for key areas such as health and property, but not every aspect of life requires insurance.

Q22: When purchasing insurance policies, it is important to strike a balance between coverage and affordability. You want to ensure you have adequate coverage, but it should also be within your budget.

Q23: A reason to start investing early is not that a long investment horizon will mean you can focus on get-rich-quick schemes. These schemes are often risky and unreliable. Instead, a long investment horizon allows you to harness the power of compounding, ride out short term fluctuations in the market, and develop a diversified investment portfolio over time.

Q24: A typical diversified portfolio includes a mixture of ETF’s, stocks, and bonds. These different types of investments can help spread risk and increase potential returns.

Q25: Insurance coverage is not a factor to consider when investing. Factors to consider when investing include financial objectives, risk profile, and investment horizon.

Knowee AI · Accepted Answer