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WorksheetsEverfi-Finacial Literacy Lesson 4 Consumer Skills
Total questions: 17
Worksheet time: 10mins
When you are deciding what to buy, you should not...
compare the unit price of similar items.
read reviews from unbiased sources.
assume that buying the cheapest item is the smartest choice
wait for sales to get the best price.
Making a good purchasing decision requires...Select all that apply
make sure you have the money in your budget
comparing the prices of similar items
reading reviews of the product
waiting until the product is on sale, if possible
When you are deciding what to buy, you should...
pick the cheapest item to get the best deal.
pick the most expensive item to get the best quality
trust influencers to pick the best items for you
compare the unit price of items similar to the one you want.
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
Which example shows the advantages of owning a car over leasing one?
Smaller monthly payments and a 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.
Which of the following is NOT an advantage of owning a car? a. b. c. d.
Yours to keep and sell when you wish
Flexibility to be able to customize it
Drive an unlimited number of miles
Smaller down and monthly payments than leasing a car
What is the best reason why someone would want to lease a house instead of buying one?
They want to avoid rent increases and dealing with a landlord
They are planning on living there for a short period of time.
They want to be able to hopefully make money when they sell the place
They want full responsibility for all repairs.
The price of a single item within a group of items is known as the ______________ ofthe item. a. b. c. d.
group price
item price
unit price
total price
Why is figuring outthe unit price of something useful when shopping? a b. c. . d.
. 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.
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
When making a large purchase, you should avoid everything EXCEPT _______________________
excessive fees
being forced to buy additional warranties
add-ons that seem too good to be true.
a price that fits comfortably in your budget.
What are possible red flags or signs of a scam when buying a car? select all that apply
Being told your financing fell through
Lengthy negotiations
Charging of excessive fees
Great customer referrals
How does a consumer know whether a purchase may be a good deal? Select all that apply
A large percentage of positive customer ratings offer detailed explanations.
The item has the most features compared to other similar items
The price is the most expensive for that type of item.
It was advertised on social media
Which fact supports the idea that renting is a good option for living in a place for a short period of time?
Renting requires a large down payment.
Leases are generally for a month or a year
Landlords take care of most maintenance
Mortgages are usually for 15 or 30 years
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 Card
Debit Card
Check
