Which of the following shows up on your credit report?

How many open accounts you have.

Which of these is not identity theft?

A scammer poses as a representative from a charity and asks for money.

Someone uses your identity to benefit financially.

Someone steals your credit card and goes on a shopping spree.

A stranger files for a tax return under your name.

Why would you want to claim an exemption on your pay stub?

It will lower the amount of taxable income you have

It will reduce the money you have to pay for insurance.

It will give your employer permission to put some of your earnings in a 401(k)

You bought $230 in clothes and charged it to your credit card. What happens if you don't pay the balance off by the end of the month?

You'll start to accrue interest on your credit card balance.

You'll get an exemption on your credit report.

You'll see an increase in your interest rate.

You'll have to pay your credit deductible.

What would be the main benefit of paying in cash for a car instead of taking out a loan?

You don't have to pay interest because you won't have a loan

The price of the car is always 5% less when you pay in cash

Paying in cash will give a boost to your credit score

You won't have to pay for registration and taxes on top of the car price

An employer sponsored retirement plan where you contribute some of your paycheck.

A retirement plan that automatically saves part of your tax return each year.

A special hybrid checkng and savings account that allows you to earn interest and still write checks.

The more you pay for tax filing services, the more you will get on your tax return.

What is an uninsured driver?

A person who has no insurance on their vehicle or to cover costs if they hit you

A golf term for a special golf club

An extra expense when purchasing a car

A student driver not yet licensed

You got in a car accident and repairs will cost $3000. After filing your insurance claim you only paid $500. Why?

That's all you budgeted for car repairs

A Form W-4 is used for what purpose?

For your employer to withhold the correct federal income tax from your pay.

To communicate your financial plan to your co-workers.

To evaluate your state tax liability.

For the federal government to pay your annual taxes.

Terry has not seen his Dentist for over 2 years and has a terrible toothache. His wife gives him the Medical Insurance Card and tells him to make an appointment at the dentist. This could be a problem because:

Terry has medical insurance that does not cover dental services

Terry has not met his out-of-pocket max

Terry has a $400 bill at the hospital which has not yet been paid

Terry has not yet paid the monthly premium for the medical insurance coverage

What is the primary purpose of a budget?

To manage your financial resources

To plan your meals for the week

Which of the following is a benefit of having a high credit score?

Easier approval for rental applications

More frequent credit card offers

Increased monthly utility bills

What is the main advantage of using a savings account?

It offers a higher interest rate than a checking account

It provides unlimited withdrawals

It automatically pays your bills

What is the primary benefit of having a diversified investment portfolio?

It reduces the risk of loss by spreading investments across various assets.

It allows you to avoid paying taxes on your investments.

It ensures that you only invest in high-risk stocks.

It guarantees a high return on investment.

Test_WFR_Consumer You

Authored by Elizabeth Totheroh

Life Skills

9th - 12th Grade

Used 1+ times

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29 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

What is a consumer?

a user of goods and services

an influencer of what is available to buy

a powerful economic force

all of the above

MULTIPLE SELECT QUESTION

30 sec • 5 pts

Select 4 main factors that influence the decision to buy.

Personal interests and values

Peer pressure

Advertising

Income

Event planning

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The IDEAL decision making model can be applied to making decisions about purchases. IDEAL helps us move through the decision in order to learn from the process. IDEAL stands for: Identify the problem Describe alternatives Evaluate each option Act on it L

Linger on making the decision

Learn from your purchase

Litigate bad decisions

List pros and cons

MULTIPLE SELECT QUESTION

30 sec • 4 pts

'Smart Consumption' requires us to evaluate our consumer habits before we make the purchase. According the the video, "Inside the Mind of a Gen Z Consumer," what are some ways that Gen Z consumers evaluate products? Mark 4 answers.

Influenced by a brand's story. Look for product brands that align with the buyer's values

Digital marketing

Research online, but buy in the store

Price and quality comparisons - Post on social media to ask peers

Feel the material before you buy

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Why should you stay away from borrowing up to your credit limit?

Because you're riding to the danger zone.

Because Dave Ramsey said so.

Because it reflects poorly on your credit score.

Because your interest rate increases when you borrow more on a credit card.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following deductions are you most likely to see on your pay stub?

Auto insurance deduction

Office party deduction

Social Security deduction

Municipal tax deduction

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

If you wanted to know what factors contributed to your credit score, how could you find out?

Check out your credit report.

File a credit claim.

Call your credit card company.

Check your credit policy.

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Test_WFR_Consumer You

What is a consumer?

Select 4 main factors that influence the decision to buy.

The IDEAL decision making model can be applied to making decisions about purchases. IDEAL helps us move through the decision in order to learn from the process. IDEAL stands for: Identify the problem Describe alternatives Evaluate each option Act on it L

'Smart Consumption' requires us to evaluate our consumer habits before we make the purchase. According the the video, "Inside the Mind of a Gen Z Consumer," what are some ways that Gen Z consumers evaluate products? Mark 4 answers.

Why should you stay away from borrowing up to your credit limit?

Which of the following deductions are you most likely to see on your pay stub?

If you wanted to know what factors contributed to your credit score, how could you find out?

Which of the following shows up on your credit report?

You hit a deer while driving. The deer is fine but your car isn't. What kind of insurance must you have in order for the damage to be covered?

Which of these is not identity theft?

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