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WorksheetsEverfi- Financial Literacy Lesson 4
Total questions: 17
Worksheet time: 9mins
Making a good purchasing decision requires __________.
comparing the prices of similar items
reading reviews of the product
waiting until the product is on sale, if possible
All of the above
What is one of the best ways to get reliable information about a product?
Follow a social media influencer
Look for the advertisements
Search online reviews
Ask someone who has never used it
How is an advertisement different from a comment from a regular consumer?
It isn’t any different.
The advertisement is likely one-sided.
The advertisement may have been posted by the seller.
The advertisement is made by an influencer who gets paid.
How is a post from a social media influencer different than a comment from a regular consumer?
It isn’t any different.
The post by the influencer is likely one-sided.
The post by the influencer may have been posted by the seller.
The influencer is paid to post the product.
Which of the following is NOT a useful strategy when making an informed purchase?
Calculate the unit price of the product.
Purchase a product based on a social media influencer.
Read the online reviews of the product and ask trusted friends who use it.
Compare your option to similar products.
What is the unit price of an item?
The price of a group of items
The price of a single item within a group of items
The price of half the items
Why is figuring out the unit price of something useful when shopping?
It helps you check to see if the price is correct.
It helps you locate items in the store.
It helps you determine the best deal.
It determines if a coupon is still usable.
A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?
The price of each pencil, or the unit price, is actually cheaper in the 12 pack.
The price of each pencil, or the unit price, is actually cheaper in the 24 pack.
The 24 pack comes with a carrying case.
This statement is false. Buying fewer pencils will always be a better deal.
Which payment option takes money out of your bank immediately?
Cash
Check
Debit Card
Credit Card
Which payment option could have interest charged to you?
Cash
Check
Debit Card
Credit Card
Which payment option can offer additional security like fraud protection?
Cash
Check
Debit Card
Credit Card
Which method of payment actually is a form of borrowing money that needs to be paid back later?
Cash
Credit Card
Debit Card
Check
Which forms of payment is linked to a bank account which limits the amount of money you can spend to balance in your account?
Cash & credit cards
Checks & debit cards
Debit card & credit cards
Credit cards & checks
Which housing option gives you more freedom and more responsibility?
Leasing a house.
Borrowing a house.
Buying a house.
Housesitting
What are possible red flags or signs of a scam when buying a car?
Being told your financing fell through
Lengthy negotiations
Charging of excessive fees
Which example shows an advantage of owning a car over leasing one?
Smaller monthly payments and good warranty to cover repairs.
Expiring warranty means that you will get to handle repair payments.
No restrictions on the number of miles to drive and the ability to customize, or make changes to the
car.
You will drive a fairly new car for a limited period of time.
What is the best reason for why someone would want to lease a house instead of buy one?
They want full responsibility of all repairs.
They want to be able to hopefully make money when they sell the place.
They are planning on living there for a short period of time.
They want to avoid rent increases and dealing with a landlord.
