GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product Differentiation System
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Policy Disclosure System
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Product Disclosure Statement
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Policy Differentiation Statement
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Detailed explanation-1: -Page reading time: 1 minute. A document that financial service providers must provide to you when they recommend or offer a financial product. It must include information about the product’s key features, fees, commissions, benefits, risks and the complaints handling procedure.
Detailed explanation-2: -A product disclosure statement (PDS) is a document that must be provided when offering a financial product. The Corporations Act 2001 (Cth) defines financial products. It includes things like shares, credit cards, loans or bonds.
Detailed explanation-3: -The aim of the Product Disclosure Sheet is to help consumers make informed decisions when purchasing a financial product based on a clear understanding of the main features and risks of the product.