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Which option below is not a potential risk of purchasing a used car?
A
used cars can require repairs soonerB
shorter lifespans of the engine and transmissionC
used cars can have lower initial costD
unexpected issues may arise2
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When companies spend millions of dollars developing logos and slogans, or use celebrity endorsements to encourage consumers to buy particular products, this is called
A
false advertising.B
undue influence.C
product branding.D
quality assurance.3
Which details apply to a financing contract? Check all that apply.
A
requires a credit checkB
are always less expensive than using a credit cardC
includes interest rate informationD
requires a signature for rent-to-own agreementsE
can be broken at any time4
This chart shows the actual pricing history for three items.
A
game systemB
smartphoneC
DVDD
It's most beneficial to buy all now.5
Building equity in a home is a good thing because
A
mortgage payments decrease as equity increases.B
credit scores increase as equity increases.C
equity in a home increases the homeowner’s net worth.D
property taxes decrease as equity increases.6
Why might people choose to rent a home rather than buy a home?
A
They have a lot of money saved for a down payment.B
The property maintenance is the owner's responsibility.C
The interest rates on equity are too high.D
They have a long-term commitment to the area.7
What is advertising used for? Check all that apply.
A
influencing consumer tastesB
tracking product popularityC
increasing product awarenessD
promoting company brandingE
gathering data about potential consumers8
Which activity is done in Step 2 of comparison shopping?
A
Research a product.B
Assess the purchase objectively.C
Compare prices and features.D
Buy a product.9
A monthly fixed rate mortgage payment
A
could change.B
never changes.C
increases annually.D
decreases annually.10
Which statements apply to leasing a car? Check all that apply.
A
The car may be driven as much as needed.B
Payments are generally higher than buying.C
There are mileage restrictions on the car.D
You must return the car after the lease ends.E
There are penalties for ending the lease early.F
You can sell the car to someone else after the lease ends.Did you find these answers helpful?
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