WorksheetsBeing a Smart Consumer
Total questions: 82
Worksheet time: 41mins
Name
Class
Date
1.
Consumers should be protected against goods that are hazardous to health or life.
a)
Right to Safety
b)
Right to Consumer Education
c)
Right to Justice
2.
Consumer Protection Laws safeguard the consumer from all the following EXCEPT:
a)
Deceptive Advertising
b)
Fraudulent activities
c)
Theft by deception
d)
Shopping habits
3.
The right to acquire knowledge and skills needed to make informed decisions
a)
Healthy Environment
b)
Consumer Education
c)
Satisfaction of Basic Needs
d)
Safety
4.
The Right to be protected against products, processes and services which are hazardous
a)
Right to Choose
b)
Right to be Informed
c)
Right to Safety
d)
Right to be Heard
5.
The Right to be able to select from a range of products and services
a)
Right to Redress
b)
Right to be Informed
c)
Right to Safety
d)
Right to Choose
6.
The Right to receive a fair settlement for poor goods or services
a)
Right to Redress
b)
Right to be Heard
c)
Right to Consumer Education
d)
Right to Choose
7.
Right to have consumer interests represented in government
a)
Right to Redress
b)
Right to Choose
c)
Right to Safety
d)
Right to be Heard
8.
The right to be given the facts needed to make an informed choice
a)
Right to Choose
b)
Right to Redress
c)
Right to be Informed
d)
Right to be Heard
9.
The Right to live in an environment which is healthy
a)
Right to Safety
b)
Right to Healthy Environment
c)
Right to Consumer Education
d)
Right to be Heard
10.
Right to have essential goods and services, food, clothing and shelter
a)
Right to Safety
b)
Right to Healthy Environment
c)
Right to be Informed
d)
Right to Satisfaction of Basic Needs
11.
A credit report can't determine your financial future
a)
True
b)
False
12.
A credit report can determine whether you can purchase items.
a)
True
b)
False
13.
Bureaus consider the number of credit accounts, outstanding debt, collections accounts, and bill paying habits to create your score.
a)
True
b)
False
14.
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future
a)
Credit
b)
Trust
c)
Good stuff
15.
Shoplifting does not impact other consumers.
a)
true
b)
false
16.
When making a complaint about a service you should…
a)
be sure your complaint is valid
b)
decide what you would like the outcome to be
c)
always be polite
d)
all of the above
17.
The theft of merchandise from a store by shoppers.
a)
opt out
b)
shoplifting
c)
consumer gain
d)
embezzlement
18.
The illegal use of an individual’s personal information.
a)
opt out
b)
power of attorney
c)
insecurity
d)
identity theft
19.
The right to seek legal remedy when laws are violated.
a)
redress
b)
5th amendment
c)
local laws
d)
lawsuit
20.
A get-rich-quick plan based on recruiting more and more participants.
a)
chain letter
b)
redress
c)
pyramid scheme
d)
infomercial
21.
Someone who buys and uses products and services.
a)
employee
b)
service provider
c)
consumer
d)
manager
22.
Deceitful conduct for personal gain.
a)
fraud
b)
redress
c)
villain
d)
small claims court
23.
A retailer’s rules for returning or exchanging merchandise.
a)
fraud practices
b)
return policy
c)
redress
d)
costumer service
24.
The economy grows when people lose their jobs.
a)
true
b)
false
25.
Where is the best place to find information about a product?
a)
in the store
b)
on manufacturer's site
c)
in a magazine
d)
on product's label/pkg.
26.
True or False: You can assume that you'll be able to return a product to a store, for a refund or exchange.
a)
True
b)
False
27.
Where do you find a store's policy on refunds and exchanges?
a)
on the receipt
b)
on the sales rack
c)
by the door
d)
where you pay for items
28.
A plan for spending and saving is a
a)
Budget
b)
Long term Goal
c)
Google Sheet
d)
Spreadsheet
29.
Federal agency that was formed to set and enforce safety standards for toys.
a)
FTC
b)
CPSC
c)
BBB
30.
Non-profit organization sponsored by local businesses which offer no charge to help with consumer complaints.
a)
FDA
b)
FTC
c)
BCP
d)
BBB
31.
Federal agency formed to set and enforce safety standards for cosmetics.
a)
USDA
b)
CPSC
c)
BBB
d)
FDA
32.
Latin for "Let the Buyer Beware!"
a)
Al Dente
b)
Caveat Emptor
c)
Caveat Couture
d)
Pate
33.
Which of the following laws was created to protect employees
a)
Consumer Product Safety Act
b)
Federal Fair Credit Billing Act
c)
Family and Medical Leave Act
d)
Resource Recovery and Conservation Act
34.
This type of warranty provides less coverage than a full warranty
a)
express warranty
b)
extended warranty
c)
implied warranty
d)
limited warranty
35.
What is sale or return?
a)
A sale that calls for payment at a later date
b)
A completed sale which buyer has option to return goods
c)
A public sale to the highest bidder
d)
A sale in which goods are delivered on a satisfactory basis
36.
enforces safety standards for consumer products
a)
Consumer Credit Protection Act
b)
Consumer Product Safety Act
c)
National Labor Relations Act
d)
Wagner Act
37.
this law regulates credit-rating service companies that review financial records of credit applications
a)
Fair Credit Reporting Act
b)
Fair Debt Collection Practices Act
c)
Federal Fair Credit Billing Act
d)
Federal Trade Commission Act
38.
One of the most important pieces of identification you need to protect is your
a)
Drivers License
b)
Pass Port
c)
Social Security Card
d)
School Id
39.
All receipts no matter if you use a card or cash should be shredded
a)
False
b)
True
40.
In some instances you will have to provide your social security number, which scenario is appropriate to do this
a)
Registering for a store rewards card
b)
Paying Your cell phone bill
c)
Applying for student loans
d)
Signing up for a school function
41.
If your bank calls you, you should
a)
Talk With Them
b)
Hang Up
c)
Ask for their information and call them back to verify they are who they really say they are
d)
Advise them that you do not give out any financial information over the phone without first verifying who they are with the actual institution
42.
Identity thieves can use your identity to
a)
Open a credit card
b)
Get an electrical account set up
c)
Open a Cell Phone Contract
d)
All of the above
43.
The Consumer Fraud that concerns people the most is
a)
Phone scams
b)
Identity Theft
c)
Warranty Issues
d)
False Advertisement
44.
A request to return the product to the manufacturer due to a safety issue or defect
a)
product recall
b)
monopoly
c)
false advertising
d)
consumer
45.
A consumer resource that tests and compares products, and offers unbiased information..
a)
Better Business Bureau
b)
Consumer Reports
c)
Federal Trade Commission
d)
Consumer Product Safety Commission
46.
A consumer organization that supports consumers and protects them from scams and fraud.
a)
Federal Trade Commission
b)
Better Business Bureau
c)
Consumer Product Safety Commission
d)
Impulsive Shopper
47.
The use of a character, cartoon, animal, human, or celebrity associated with a product or company/
a)
impulsive shopper
b)
logo
c)
consumer
d)
icon
48.
Examples include radio ads, signs, telemarketing, postcards, flyers, people...
a)
logo
b)
icon
c)
advertising strategies
d)
advertising methods
49.
Anything done to promote the sale of a product or service is called....
a)
Consumer Reports
b)
economy
c)
advertising
d)
false advertising
50.
In terms of consumer protection, which form of payment is considered the safest?
a)
PayPal
b)
Cash
c)
Credit Card
d)
Check
51.
A promise by the seller to repair or replace a product within a fixed amount of time....
a)
logo
b)
budget
c)
warranty
d)
guarantee
52.
Protects a company from legal blame from some exaggerated claim or possible risk or side effect....
a)
contract
b)
warranty
c)
disclaimer statement
d)
guarantee
53.
The relationship between consumer confidence and their spending habits and level of employment.
a)
budget
b)
economy
c)
logo
d)
monopoly
54.
A statement that protects a company from being sued for an exaggerated claim or possible risk/side effect?
a)
warranty
b)
guarantee
c)
disclaimer statement
d)
economy
55.
The advertising methods and strategies a company uses does affect the final cost of the product.
a)
True
b)
False
56.
What is your most valuable piece of personal information?
a)
birthday
b)
address
c)
phone number
d)
social security number
57.
A saving and spending tool that helps you track your money.
a)
checkbook
b)
debit card
c)
budget
d)
savings account
58.
This promises to refund your money if you are unsatisfied with your purchase within a certain time period.
a)
warranty
b)
contract
c)
guarantee
d)
check
59.
This involves researching products and choosing the best product based on price, features, and product ratings.
a)
weights and measures
b)
impulsive shopping
c)
comparison shopping
d)
budgeting
60.
A person who buys goods or services is called a .....
a)
character
b)
consumer
c)
icon
d)
seller
61.
What should always be on the back of your credit card?
a)
Signature & Photo ID
b)
Social Security number
c)
Phone Number
62.
What happens if you make the lowest monthly payment possible?
a)
Cost will decrease
b)
Cost will remain the same
c)
Cost will increase
63.
What does APR stand for?
a)
Aerobic Pulmanary Rate
b)
Always Put Last
c)
Annual Percentage Rate
64.
Is your credit within the safe zone if borrowed money is less than 20% of net income?
a)
Yes
b)
No
c)
I don't know
65.
How many times a year can you view your credit report?
a)
2
b)
4
c)
1
66.
What happens when your credit score is low?
a)
Interest on loan is high
b)
Interest on loan is low
c)
It doesn't affect your interest
67.
Equal Employment Opportunity Commission has the power to stop unfair employment practice by seeking a court injunction or suing the employer for damages
a)
Bankruptcy
b)
ADA
c)
Equal Pay
d)
Equal Employment
68.
Governs the rights of a consumer who has purchased defective items, especially automobiles.
a)
Redress
b)
Collusion
c)
Lemon Law
d)
Monopoly
69.
How do you calculate the cost per use for a product?
a)
total cost × times used
b)
total cost ÷ times used
c)
Cannot be determined
70.
What purchasing options should you consider when shopping?
a)
New vs. Used
b)
When to buy
c)
Where to buy
d)
All are options to consider
71.
Where can you find reviews on products?
a)
YouTube
b)
Amazon
c)
Consumer Reports Magazine
d)
All are great resources
72.
When reading reviews about a product, the more people that have reviewed the product the better.
a)
True
b)
False
73.
When considering purchasing a product, you should also consider:
a)
cost of ownership
b)
what you are giving up
c)
how you will pay for it
d)
you should consider all of these things
74.
How do you know when a website is secure?
a)
If there is a badge at the bottom of the webpage
b)
If the address is "https" rather than just "http"
75.
You should go through the planned buying process (to some degree) with every single purchase you make.
a)
True
b)
False
76.
What purchasing options should you consider when shopping?
a)
New vs. Used
b)
When to buy
c)
Where to buy
d)
All are options to consider
77.
When considering purchasing a product, you should also consider:
a)
cost of ownership
b)
what you are giving up
c)
how you will pay for it
d)
you should consider all of these things
78.
What is the annual rate of interest charged for using credit called?
a)
teaser rate
b)
APR
c)
Minimum finance charge
d)
variable rate
79.
A company that collects information about consumers' credit history and sells it to lenders is a:
a)
Commercial bank
b)
Credit union
c)
Credit bureau
d)
Pawn shop
80.
A measure of your creditworthiness is your:
a)
Credit rating
b)
Credit
c)
Credit debt
d)
Credit bureau
81.
The maximum amount you are allowed to charge on your account:
a)
Quota
b)
Account ceiling
c)
Credit limit
d)
Minimum payment
82.
Can employers check your credit score?
a)
Yes, with proper authorization
b)
No, never
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