WorksheetsQuiz Ch 6 & 7 Purchasing & Credit Cards
Total questions: 25
Worksheet time: 2hrs 11mins
Name
Class
Date
1.
How can a cardholder avoid paying interest on a credit card?
a)
Do not pay anything
b)
Pay the minimum payment after its due date
c)
Pay the minimum balance every month
d)
Pay the balance in full every month
2.
The credit company can charge interest if the credit card bill is not paid in full by the due date
a)
True
b)
False
3.
It is best to pay more than the minimum due on your credit card.
a)
True
b)
False
4.
A credit report is a report showing a borrower's history of how well they paid their bills.
a)
True
b)
False
5.
Only making the minimum payment on a credit card every month will:
a)
lower the amount total paid for the purchase
b)
make you independently wealthy
c)
take longer to pay off which will result in paying more interest, more money!
d)
pay off the credit card faster
6.
The cost of credit expressed as a yearly interest rate is known as:
a)
Annual Percentage Rate (APR)
b)
Annual Fee
c)
Penalty APR
d)
Introductory Rate
7.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
8.
The maximum amount you may borrow on a credit card is known as:
a)
creditworthiness
b)
credit report
c)
credit limit
d)
variable rate of credit
9.
What is an annual fee?
a)
The act of transferring money
b)
A fee charged by a card issuer for being a card holder.
c)
The days between the last statement and the current statement.
d)
A fee charged to a cardholder's account once a payment is late.
10.
Find the cost if the coupon is used:
Cereal is priced marked at $3.49. You have coupon value of 15¢.
What would be the final cost of the cereal?
Cereal is priced marked at $3.49. You have coupon value of 15¢.
What would be the final cost of the cereal?
a)
$3.34
b)
$3.00
c)
$3.12
d)
$4.00
11.
Find the cost if the coupon is used:
Soup mix is priced marked at $1.19. You have coupon value of 15¢.
What would be the final cost of the soup mix?
Soup mix is priced marked at $1.19. You have coupon value of 15¢.
What would be the final cost of the soup mix?
a)
$1.01
b)
$1.00
c)
$1.20
d)
$1.04
12.
The regular retail price of a bag of Crunchy Pretzels is $4.98. Eat Right Markets and Food For Less both have monetary incentives on Crunchy Pretzels. Which has the better incentive and what is the savings on four bags?
Eat Right Market - 2 Bags for $5.00
Food for Less Buy - 1 Bag Get 1 Bag Free
Eat Right Market - 2 Bags for $5.00
Food for Less Buy - 1 Bag Get 1 Bag Free
a)
Eat Right Markets; $0.04
b)
Food For Less; $0.04
c)
Eat Right Markets; $9.96
d)
Food For Less; $9.96
13.
________ are discounts offered by businesses in the form of money given back to the customer, usually through the mail.
a)
total purchase price
b)
sales receipt
c)
coupons
d)
rebates
14.
_________ are discounts offered by businesses in the form of tickets that are redeemed at the time of purchase.
a)
markdown
b)
coupons
c)
comparison shopping
d)
rebates
15.
A(n) ___________ is the selling price of an item plus the sales tax.
a)
comparison shopping
b)
sales receipt
c)
rebates
d)
total purchase price
16.
A discounted price means the price has
a)
decreased
b)
increased
17.
Find the cost if the coupon is used:
Orange juice is priced marked at $2.19. You have coupon value of 25¢.
What would be the final cost of the orange juice?
Orange juice is priced marked at $2.19. You have coupon value of 25¢.
What would be the final cost of the orange juice?
a)
$1.89
b)
$1.94
c)
$2.09
d)
$1.54
18.
A pair of jeans costs $34.00. You have a coupon for 30% off the regular price. What is the new price of the jeans after you use your coupon?
a)
$10.20
b)
$23.80
c)
$31.00
d)
$44.20
19.
What is an important fact about coupons?
a)
they cost $$$
b)
they save you $$$
20.
Work this problem. You have a coupon for $1.00 off 3 tubes of toothpaste. Toothpaste cost $2.29 each. How much will you pay?
a)
$6.87
b)
$3.58
c)
$5.87
d)
$1.00
21.
Work this problem. You buy 4 cans of soup. You have a coupon for $.50 off. A can of soup costs $.99. How much do you pay?
a)
$4.46
b)
$3.96
c)
$.50
d)
$3.46
22.
Sam bought an $85.00 jacket for 40% off of the regular price. How much did he pay for the jacket?
a)
75
b)
51
c)
36
d)
isaiah
23.
A bracelet that regularly sells for $44 is on sale for 25% off. Find the sale price of the bracelet.
a)
17.38
b)
11.50
c)
11.00
d)
15.60
24.
Discount is ____________ from the price.
a)
added
b)
divided
c)
subtracted
d)
multiplied
25.
Cheap Cell: Only $159! Plus a 15% instant rebate!
Cells for Less: Regular Price = $150. Now on sale for $125!
Which is the best incentive for buying the cell phone, and how much do you save by purchasing a phone at that store?
a)
Cheap Cell has the better incentive, a savings of $25.00.
b)
Cells for Less has the better incentive, a savings of $22.50.
c)
Cheap Cell has the better incentive, a savings of $22.50.
d)
Cells for Less has the better incentive, a savings of $25.00.
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