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- 1. Multiple Choice
When you are deciding what to buy, you should not...
compare the unit price of similar items.
read reviews from unbiased sources
assume that buying the cheapest item is the smartest choice
wait for sales to get the best price.
- 2. Multiple Choice
Making a good purchasing decision requires __________.
comparing the prices of similar items
reading reviews of the product
waiting until the product is on sale, if possible
All of the above
- 3. Multiple Choice
When you are deciding what to buy, you should...
pick the cheapest item to get the best deal.
pick the most expensive item to get the best quality.
trust influencers to pick the best items for you.
compare the unit price of items similar to the one you want.
- 4. Multiple Choice
How is an advertisement different from a comment from a regular consumer?
It isn’t any different.
The advertisement is likely one-sided.
The advertisement may have been posted by the seller.
The advertisement is made by an influencer who gets paid.
- 5. Multiple Choice
How is a post from a social media influencer different than a comment from a regular consumer?
It isn’t any different.
The post by the influencer is likely one-sided.
The post by the influencer may have been posted by the seller.
The influencer is paid to post the product
- 6. Multiple Choice
What is one of the best ways to get reliable information about a product?
Follow a social media influencer
Look for the advertisements
Search online reviews
Ask someone who has never used it
- 7. Multiple Choice
Which example shows an advantages of owning a car over leasing one?
Smaller monthly payments and good warranty to cover repairs.
Expiring warranty means that you will get to handle repair payments.
No restrictions on the number of miles to drive and the ability to customize, or make changes to the
car.
You will drive a fairly new car for a limited period of time.
- 8. Multiple Choice
Which of the following is NOT an advantage of owning a car?
Smaller down and monthly payments than leasing a car
Drive unlimited number of miles
Flexibility to be able to customize it
Yours to keep and sell when you wish
- 9. Multiple Choice
What is the best reason for why someone would want to lease a house instead of buy one?
They want full responsibility of all repairs.
They want to be able to hopefully make money when they sell the place.
They are planning on living there for a short period of time.
They want to avoid rent increases and dealing with a landlord.
- 10. Multiple Choice
A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?
The price of each pencil, or the unit price, is actually cheaper in the 12 pack.
The price of each pencil, or the unit price, is actually cheaper in the 24 pack.
The 24 pack comes with a carrying case.
This statement is false. Buying fewer pencils will always be a better deal.
- 11. Multiple Choice
The price of a single item within a group of items is known as the ______________ of the item.
group price
item price
unit price
total price
- 12. Multiple Choice
Why is figuring out the unit price of something useful when shopping?
It helps you check to see if the price is correct.
It helps you locate items in the store.
It helps you determine the best deal.
It determines if a coupon is still usable
- 13. Multiple Choice
Which payment option is not accepted online?
Cash
Check
Debit Card
Credit Card
- 14. Multiple Choice
Which payment option takes money out of your bank immediately?
Cash
Check
Debit Card
Credit Card
- 15. Multiple Choice
Which payment option could have interest charged to you?
Cash
Check
Debit Card
Credit Card
- 16. Multiple Choice
When making a large purchase, you should avoid everything EXCEPT _______________________
excessive fees.
being forced to buy additional warranties.
add-ons that seem too good to be true.
a price that fits comfortably in your budget.
- 17. Multiple Choice
What are possible red flags or signs of a scam when buying a car?
Being told your financing fell through
Lengthy negotiations
Charging of excessive fees
Both A and C
- 18. Multiple Choice
Which of the following is NOT be a warning sign of a scam when buying a car or other big purchases?
Being forced into warranties
A price that fits comfortably in your budget
Excessive fees
Add-ons that seem too good to be true
- 19. Multiple Choice
Which of the following is NOT a useful strategy when making an informed purchase?
Calculate the unit price of the product.
Purchase a product based on a social media influencer.
Read the online reviews of the product and ask trusted friends who use it.
Compare your option to similar products
- 20. Multiple Choice
How does a consumer know whether a purchase may be a good deal?
A large percentage of positive customer ratings offer detailed explanations.
The item has the most features compared to other similar items.
The price is the most expensive for that type of item.
Both A and B
- 21. Multiple Choice
What is one of the best ways to get reliable information about a product?
Follow a social media influencer
Look for the advertisements
Search online reviews
Ask someone who has never used it
- 22. Multiple Choice
Which example shows an advantage of owning a car over leasing one?
Smaller monthly payments and good warranty to cover repairs.
Expiring warranty means that you will get to handle repair payments.
No restrictions on the number of miles to drive and the ability to customize, or make changes to the
car.
You will drive a fairly new car for a limited period of time.
- 23. Multiple Choice
Which of the following is NOT an advantage of owning a car?
Smaller down and monthly payments than leasing a car.
Drive unlimited number of miles
Flexibility to be able to customize it
Yours to keep and sell when you wish
- 24. Multiple Choice
What is the best reason for why someone would want to lease a house instead of buy one?
They want full responsibility of all repairs.
They want to be able to hopefully make money when they sell the place.
They are planning on living there for a short period of time.
They want to avoid rent increases and dealing with a landlord.
- 25. Multiple Choice
Which fact supports the idea that renting is a good option for living in a place for a short period of time?
Renting requires a large down payment.
Leases are generally for a month or a year.
Landlords take care of most maintenance.
Mortgages are usually for 15 or 30 years.
- 26. Multiple Choice
Which housing option gives you more freedom and more responsibility?
Leasing a house.
Borrowing a house.
Buying a house.
House-sitting
- 27. Multiple Choice
Leasing a car may be a better option than buying a car if...
you travel great distances regularly.
you have enough money for a large down payment.
you don't plan on having it for long and don't want to worry about regular maintenance.
you want the extended warranty and maintenance because you plan on having the car for a while.
- 28. Multiple Choice
Which payment option can offer additional security like fraud protection?
Cash
Check
Debit Card
Credit Card
- 29. Multiple Choice
Which method of payment actually is a form of borrowing money that needs to be paid back later?
Cash
Credit Card
Debit Card
Check
- 30. Multiple Choice
Which forms of payment is linked to a bank account which limits the amount of money you can spend to
balance in your account?
Cash & Credit Cards
Checks & debit cards
Debit card & credit cards
Credit cards & checks
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