Consumer Spring Final Exam Review (2024)

Consumer Spring Final Exam Review (2024)

12th Grade

32 Qs

quiz-placeholder

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Consumer Spring Final Exam Review (2024)

Consumer Spring Final Exam Review (2024)

Assessment

Quiz

Business

12th Grade

Practice Problem

Easy

Created by

Lisa Woods

Used 20+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Auto Loan Principal

Using cash or prepaid card, or paying with debit card
Leaving a good impression and expanding on interview topics
Paying off highest interest debt first
The cost of the car minus any down payment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Auto Loan Interest Rate

The total cost paid after making all principal and interest payments
Education, experience, and work skills
Charged on unpaid balance and new purchases based on APR
Interest charged on unpaid balance and new purchases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

NET PAY

Looking for sign-up bonuses and introductory offers
Amount paid by the insured before the insurance company covers the rest
Higher fees, lack of credit building, limited consumer protections
Total amount earned minus taxes and deductions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GROSS PAY

Checking bank statements, shredding documents, using secure websites
Interest charged on unpaid balance and new purchases
By end of Jan -- receive his W2 from his employerBy Apr 15 (or tax filing deadline for the current tax filing year) -- file his taxes, using form 1040. If he owes taxes (see answer below), he must pay them by this date as well.After Apr -- Assuming he's a student/dependent and did not earn very much money, he will most likely get a refund.Optional -- can readjust his W-4 form at any time to change the amount ofterm-29 tax withheld from his upcoming paychecks
Total amount earned before any deductions

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Thank You Note Importance

Interest charged on unpaid balance and new purchases
Medicare, federal taxes, social security
Leaving a good impression and expanding on interview topics
The cost of the car minus any down payment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Secured Credit Card

Charged on unpaid balance and new purchases based on APR
Convenient check deposit, waived fees, access to account
Monthly payment for renters insurance
Credit card with a credit limit dependent on a security deposit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Payment Method - Checking Account

Insurance premiums are set based on risk factors, with riskier individuals paying more than "safer" individuals. Each person in the "pool" pays their monthly premiums, regardless of whether they file any claims that month. Those who DO have auto insurance claims that month receive payments from the insurance company toward their claims; those who don't have any claims receive nothing. But, the concept works because EVENTUALLY you may need to draw on the benefits, and insurance should cover you according to the policy agreement.
Total amount earned minus taxes and deductions
The cost of the car minus any down payment
Using cash or prepaid card, or paying with debit card

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