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WorksheetsDave Ramsey - Chapter 5 Review
Total questions: 45
Worksheet time: 4hrs 45mins
All the discretionary and non-discretionary spending in our economy is referred to as ______.
Consumerism
Marketing
Spending Economy
None of these
Impulse buying is a surefire way for you to do what?
get a deal
find personal contentment
spend less
bust your monthly budget
What is the main reason why people have trouble being content?
Income
Marketing
Patience
Comparison
When you're buying things online, what should you look for first?
a good price
an HTTPS site
good reviews
all of the above
Short, entertaining ads on social media are called what?
Retargeting
Content Marketing
Snack Videos
Native Advertising
Where's the main place a young adult can find daily examples of targeted marketing?
Social Media
Radio
Television
Billboards
What's the first thing you need to have so you can develop power over purchase?
Cash
A Credit Card
Mobile Pay
A Budget
_______ is when someone else uses your personal information to commit fraud.
Card Fraud
Identity Theft
A Crime
None of these
_______ is all the ways the value of a product or service is communicated.
Marketing
Consumerism
TV Commercials
Social Media Ads
A(n) _______ occurs when you make an online purchase or even send cash using an app on your phone.
Mobile Pay
Apple Pay
PayPal
Digital Payment
If you've ever bought something and then felt guilt or regret later, you've experienced _______.
Shopping Guilt
Buyer's Remorse
Spending Sickness
None of these
Identifying a specific product by its logo, jingle, or name is called ______.
Marketing
Consumerism
Brand Recognition
Logo Memory
_____ is a type of digital payment made using your phone or watch.
Mobile Pay
Digital Payment
Apple Pay
None of these
You were a victim of ______ if someone used your debit or credit card without your permission.
Consumerism
Identity Theft
Card Fraud
Buyer's Remorse
______ will often cause you to overspend or spend more than you've budgeted in a category.
Mobile Pay
Impulse Buying
Consumerism
Marketing
Contentment is hindered by _____.
Immediate Gratification
Delayed Gratification
Money Principles
The Five Foundations
If you're a victim of card fraud . . .
Contact your bank immediately
Wait until next week to contact your bank
Wait for your bank to contact you
Call 911 before making any other purchases
Since marketers have sophisticated technology and plans to get your money, what can you do to make sure you don't fall into their trap?
Make snap decisions to buy products.
Be aware of when and where you're being marketed to.
Stay off any form of digital media entirely.
Never buy anything online.
What is the main goal of a retail customer reward system?
To make customers happy through free products and cash back.
To get customers to spend more money in the long run.
To create wise customers who make smart money decisions.
To help save customers money.
Personal finance is 20% head knowledge and 80% ______.
behavior
attitude
good intentions
motivation
Stuff doesn't equal _____. Debt makes people look better off then they _____.
wealth; actually are
investments; should be
happiness; deserve
income; want to be
Reading the owner's manual, using the product as intended, and keeping the receipt are ways to . . .
protect and maintain your purchase.
go into debt over an item.
think through a purchase.
avoid regretting an impulse purchase.
Shoe companies can use influencer marketing to build brand recognition to gain credibility and familiarity.
True
False
Which of the following has the lowest risk for getting your card information stolen?
Handing your card over to a server at a restaurant.
Making an online purchase on an unsecured site.
Using your debit card and PIN at a reputable store.
Storing your card information online.
When using mobile pay, real time records of what you've spent can help you ______.
spend more money
make quicker decisions when buying
make sure you're sticking to your budget
feel good about overspending
Creating a budget, having clear money goals, and slowing down to think through a purchase are all practices of a _______.
college student
wise consumer
foolish consumer
free spirit
Appreciating who you are and what you have instead of wanting what your friends have is called _____.
comparison
contentment
gratitude
consumerism
Why should you never buy the extended warranty?
Retail items and products rarely break or malfunction.
You should buy the extended warranty. It is a smart financial decision.
Most retailers will replace or repair the product if it stops working within the first year.
The retailers never keep their promises.
It's okay to make an online purchase if you're on unsecured Wi-Fi, as long as you log off as soon as you're done.
True
False
Why does brand recognition help businesses?
It makes their name and logo easily memorable for consumers.
It helps the business recognize their own logo.
It keeps the consumer from buying more of their product or service.
It helps them partner with other businesses.
You won't find contentment by just continually buying stuff.
True
False
Why is paying for something in cash a better option than mobile pay even if it isn't as convenient?
You feel the loss of money when you use cash, so you're less likely to overspend.
It's easier to part ways with cash, so you're more likely to overspend.
It isn't a better option. The perks of mobile pay outweigh the downsides.
It helps the store clerk when you use cash.
Part of being a smart consumer is being able to . . .
say no to an unnecessary purchase.
use a credit card for the points without going into debt.
set up digital wallets and mobile payment.
discern when to open a retail store credit card and when not to.
The key to contentment is gratitude.
True
False
It's your right as the consumer to . . .
pitch a fit if you don't like the product you just purchased, and demand a refund.
buy whatever you want, as long as you don't go into debt over it.
expect a product to live up to the quality promised to you before you purchased it.
keep a product even if it malfunctions or has manufacturing issues.
Before you insert your debit card at the gas pump, you should always . . .
check out the card reader to see if it looks different, loose, or worn.
make sure you have enough money in your account.
ask the store clerk if there has been a thief here lately.
pay cash - never use a card at a gas pump.
What is the digital marketing strategy that tracks users across the web?
Retargeting
Native Ads
YouTube Videos
Content Marketing
Americans spend over $600 a month on _____.
impulse purchases they didn't plan to buy
entertainment
groceries and eating out
credit card fees
Convenience is both a perk and a downside of mobile pay.
True
False
To think big picture, you need to understand that . . .
the best way to have more money is to have contentment.
the best way to be content is to have more money.
your goals are less important than buying the latest and greatest stuff.
you can buy happiness.
What does it mean to develop power over purchase?
You are powerless in the face of an impulse purchase.
You can make decisions very quickly when it comes to purchasing items.
You are able to slow down and think through your motives before buying something.
You have power to purchase whatever you want, and you do so.
When someone steals and uses your debit or credit card info, that's called ______.
Networking
Borrowing
Fraud
Authorized Spending
Why is digital ad spending projected to be $524 billion in 2024?
Advertisers are tired of old-fashioned marketing methods.
Marketers know that you're on your mobile device more than you're reading newspaper ads or listening to live radio ads.
Digital marketing is easier for marketers, so they prefer this method.
Other marketing methods cost more.
Why do stores like mobile pay apps?
It's harder for customers to pay, so they end up saving money.
It makes paying easier and faster, so customers are more likely to overspend.
Digital pay is the way of the future, and retail stores like being ahead of the times.
It's easier for the retail store clerks.
An example of discretionary spending is ______.
utilities and food
transportation
monthly rent
non-essential goods and services
