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Worksheets

Consumer Skills U3

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

An example of a status symbol is:

a)

a toaster

b)

real jewels

c)

a food mixer

2.

INterest Charged on your charge account is a:

a)

finance charge

b)

service charge

c)

credit charge

3.

The merchandise stays in the store when you use:

a)

open-ended credit

b)

installment credit

c)

lay-away

4.

Only members may use a:

a)

bank

b)

credit union

c)

finance company

5.

The borrower is the:

a)

ceditor

b)

lender

c)

debtor

6.

A business that keeps files on personal paying habits from various sources is:

a)

credit bureau

b)

bank

c)

finance company

7.

When buying on the installment plan you are required to make a:

a)

down payment

b)

rebate

c)

loan

8.

The length of time that a product will last is its level of:

a)

warranty

b)

credit worth

c)

durability

9.

A credit card which might be used to pay for gas only is:

a)

VISA

b)

MasterCard

c)

Standard Oil Card

10.

Another name for "lender" is:

a)

creditor

b)

co-sogner

c)

deptor

11.

A phrase known as "weasel words" in advertising are:

a)

elegant

b)

new and improved

c)

discriminating

12.

Putting a specific limit on the amount of credit available is called:

a)

a line of credit

b)

collateral

c)

a budget

13.

When a product is taken back from the buyer by the seller for non-payment, we say it has been:

a)

loaned out

b)

used as credit

c)

repossessed

14.

A person who agrees to pay a bill if the borrower does not is a:

a)

co-signer

b)

fool

c)

good friend

15.

Any item that has definite monetary value is able to be used as:

a)

a down payment

b)

collateral

c)

an installment payment

16.

I a person is legally unable to pay his debts, we say that he faces:

a)

a jail term

b)

bankruptcy

c)

hard labor

17.

A way of buying in which you can purchase goods or services and pay later is called:

a)

credit

b)

comparison shopping

c)

savings

18.

The one who owns your charge card is:

a)

you

b)

your parents

c)

the store

19.

Once you sign a contract:

a)

you are bound by law to carry out its terms

b)

you may break it if you wish

c)

you may find a co-signer

20.

Were you may apply for a loan:

a)

credit unions

b)

Better Business Bureau

c)

both a and b