3rd Nine Weeks Test Review

______ is combining telephone, Internet, and cable TV into one package.

• bundling
• renting
• pledging
• duplex

_________ factors that influence individual ​spending habits include personal resources; position in life; customs, background, and religion; and your values and goals

• External
• Personal

_________ factors that affect your spending habits include the economy, technological advances, the environment, and social pressures.​

• External
• Personal

The __________ process typically involves six steps: (1) define the problem or goal, (2) obtain accurate information, (3) compare choices, (4) make a decision, (5) take action, and (6) reevaluate your choice.​

• decision-making
• basic needs
• ​life-enhancing
• trade-off

____ is an expense that occurred in the past for which money was spent and cannot be recovered.

• A loss
• sunk cost
• opportunity cost

You may need a cosigner to get started with credit. A cosigner guarantees that payments will be made as agreed.

• True
• False

Which of the following questions could a creditor legally ask you?

• "Where do you work?"
• "Do you plan to have children?"
• "What church do you attend?"
• "What is your ethnic origin?"

Which of the following could become part of your credit record?

• bankruptcy
• a divorce
• a lawsuit
• All of these choices are correct.

A(n) __________ requires a larger down payment than other types of loans.​

• conventional loan
• FHA or other government back loan

Once you have selected a home, you will make a(n) __________ offer to buy it.

• contingency

• earnest money

• counter

• escrow