Code: 3.1.1 · Adults
Basics of risk
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Aware of risks in a financial context, including those inherent in products and those that can be hedged or insured against
- Kresiliencedaily-lifelarge-majority
Aware that certain risks with financial implications can be reduced by using certain financial products and/or by taking action (buying insurance, acquiring financial products with capital guarantee, use well-diversified investment products, etc…)
Skill
What you can do at this level
- Sdigitalsustainableresiliencedaily-lifelarge-majority
Considers the risks of significant external issues that may impact on personal financial well-being (including for example environmental, technological, health-related, scientific, security or economic factors)
Attitude
What you can do at this level
- Aresiliencedaily-lifelarge-majority
Motivated to identify own risk tolerance
- Aresiliencedaily-lifelarge-majority
Confident to make own assessment of risks without being unduly influenced by marketing or news items (avoiding availability bias)
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.
- A — How you approach things: values, dispositions and behaviours.