Consumer Skills Study Guide

What tool is used to help manage spending?

• Spending Estimator

• Calculator

• Checkbook

• Budget

A computerized process that transfers money into a bank account is

• Credit Account

• Direct Deposit

• ATM Transaction

• Automatic Deposit

When writing a check you need to use a

• Pencil

• Computer

• Marker

• Pen

Unit price is determined by dividing what two factors?

• price divided by ounces

• price divided by size

• units divided by size

• size divided by price

A 16-ounce soft drink costs $1.25. What is the price per ounce?

• $.07

• $.08

• $.09

• $.06

A finance charge is

• a fee charged only when you pay your bill online

• a fee charged to customers with a lower credit score

• a fee charged whenever you use your debit card

• a fee charged by a lender for the use of credit

Impulse buying is when you

• buy only what you planned to buy at the store

• buy something that is on sale

• research the item you plan to buy before going to the store

• see something and buy it without thought or consideration

Advantages of using credit include all of the following except

• you don't have carry cash

• you are able to buy needed items now

• you pay more due to finance charges

• it creates a record of purchases

All of the following are considered needs except

• a cell phone

• clothing

• food

• shelter

Which of the following is not a fixed expense?

• Car Payment

• Utility Bills

• Going out to dinner with friends

• Rent