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Consumer Rights Quiz 6 - LifeSmarts

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

True or False: All apprenticeships are unpaid.

a)

True

b)

False

2.

Which of these does not belong in the same career cluster?

a)

Agriculture

b)

Hospitality

c)

Food and Natural Resources

d)

Agriculture Economics

3.

The designation CFP after a person's name signifies that they have achieved what professional credential?

a)

Certified Finance and Public Accountant

b)

Certified Financial Planner

c)

Chick-Fil-a Proprietor/Operator

d)

Crisis Financial Planner

4.

True or False: According to US labor laws, an unpaid intern cannot be used to replace paid staff.

a)

True

b)

False

5.

Which of the following is not a reason to seek a mentor in your new career?

a)

Guidance

b)

Motivation

c)

Expand contacts

d)

Decreases career planning options.

6.

What does seniority usually grant a person in the workplace?

a)

Extra Work Privileges

b)

Low Priority Promotion Status

c)

Steady Income

d)

Lower Salary

7.

Time management is the ability to control and plan your time in order to accomplish what?

a)

Salary Increases

b)

Goals

c)

Current Tasks

d)

A Beach Vacation

8.

What does the Latin phrase "Caveat Emptor" mean?

a)

Let the emperor take heed.

b)

Business as usual.

c)

Let the buyer beware.

d)

Winner takes all.

9.

What laws prohibit companies from restricting competition?

a)

Fake Trade Laws

b)

Market Equality Laws

c)

Monopoly Laws

d)

Antitrust Laws

10.

What are taxes on imports called?

a)

Tariffs

b)

Export Taxes

c)

International Tax

d)

Foreign Trade Tax

11.

Three reports are issued for each quarterly Gross Domestic Product (GDP). In the order they are issued, what are they?

a)

Final, Promotional, Advance

b)

Preliminary, Final, Adequate

c)

Advance, Preliminary, Final

d)

Preliminary, Adequate, Final

12.

Every business cycle has four parts. Which one is not a part?

a)

Trough

b)

Contraction

c)

Slough

d)

Expansion

13.

True or False: The base price for a new car does not include a standard warranty.

a)

True

b)

False

14.

All other factors being equal, what effect would a federal income tax cut have on the economy?

a)

Increase consumer spending.

b)

Decrease economic growth.

c)

Decrease customer spending.

d)

Increase interest rates.

15.

Who do retail stores sell goods directly to?

a)

Wholesale Buyers

b)

Consumers/Public

c)

Economically Wealthy

d)

Small Business Owners