Which of the following represent standard payroll deductions?

All of the choices are correct.

What is the basis for consumer protection laws?

Consumers have rights that sometimes need to be protected.

Which is the best way to manage a credit card to ensure your financial health?

Paying the bill in full each month

Which of the following are the responsibilities of renters?

All of the choices are correct.

Which of the following can help you make an effective consumer complaint?

All of the choices are correct.

Why is it often a bad idea to buy luxury items on credit?

limits your ability to purchase necessities in the future

Where should people register a complaint about safety issues involving a baby crib they bought?

Consumer Product Safety Commission

Which of the following are common financial scams?

All of the choices are correct.

How can a person calculate their net income?

By subtracting standard deductions from their gross income

What methods do government agencies use to protect consumers?

Making laws and giving out information

Identify the factors involved in housing decisions.

All of the choices are correct.

Which of the following are good reasons to balance your checkbook?

All of the choices are correct.

Which of the following factors help to determine the housing market in a community?

All of the choices are correct.

Why do agreements to buy or rent homes use legal terms?

To protect the rights of both parties

What advice would you give a friend who wants to get a loan to put a pool in their backyard?

Make sure this won't affect their ability to buy necessitie

Why is it a bad idea to delay buying insurance for your financial assets?

It can lead to significant personal & financial consequence

What should you do after you make your purchase?

Make a post-purchase evaluation.

Choosing a type of employment involves tradeoffs because:

No job offers everything a person wants or needs.

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FCS unit 1 review

21 termsStudBud Administration94 plays

This is our review for Unit 1 in FCS K12 Texas

Flashcards21 cardsFPractice quizPHost liveL

Questions 21

Answers

1
Which of the following represent standard payroll deductions?
All of the choices are correct.
State income tax
Unemployment insurance
Federal income tax
2
What is the basis for consumer protection laws?
Most businesses cannot be trusted.
To provide jobs for those who enforce them
Consumers have rights that sometimes need to be protected.
Consumers are not intelligent enough to protect themselves
3
Which is the best way to manage a credit card to ensure your financial health?
Only using your credit card to get cash out of an ATM
Paying the bill in full each month
Making the minimum monthly payment
Keep your balance as close as possible to the max allowed
4
Which of the following are the responsibilities of renters?
Keeping the place safe and clean
Paying rent on time
All of the choices are correct.
Not damaging the property
5
Which of the following can help you make an effective consumer complaint?
Sales receipt
All of the choices are correct.
Repair orders
Warranties
6
Why is it often a bad idea to buy luxury items on credit?
By the time you pay for it, you won't get any satisfaction
limits your ability to purchase necessities in the future
You may not want that item in the long run.
The price may go down over time.
7
Where should people register a complaint about safety issues involving a baby crib they bought?
Federal Trade Commission
Consumer Product Safety Commission
Consumers Union
Better Business Bureau
8
Which of the following are common financial scams?
All of the choices are correct.
Identity theft
Poorly disclosed extras
Merchandise fraud
9
How can a person calculate their net income?
By subtracting optional deductions from gross income
By adding their standard and optional deductions
By subtracting standard deductions from their gross income
Multiplying their gross income by the # of years they work
10
What methods do government agencies use to protect consumers?
Making laws and giving out information
Paying their hospital bills when they get hurt
Informing the public about which businesses to avoid
Providing ratings of businesses
11
If this person wanted to increase savings, which item is the easiest to limit?
Car loan
Cable TV/Internet service
Renter's insurance
Meals out and entertainment
12
Identify the factors involved in housing decisions.
Lifestyles
All of the choices are correct.
Values
Income
13
Which of the following are good reasons to balance your checkbook?
To detect mistakes made by the bank
To avoid bouncing checks
All of the choices are correct.
To help in creating a personal budget
14
Which of the following factors help to determine the housing market in a community?
Population increases
Interest rates
Employment rates
All of the choices are correct.
15
Why do agreements to buy or rent homes use legal terms?
To make the wording as clear as possible
To satisfy legal requirements
To protect the rights of both parties
So that only experts can make these agreements
16
What advice would you give a friend who wants to get a loan to put a pool in their backyard?
Make sure this won't affect their ability to buy necessitie
They should install a heater so they can enjoy it more.
They should look for the lowest rate on a loan.
They should do it themselves and save money.
17
Why is it a bad idea to delay buying insurance for your financial assets?
It causes them to lose value.
It makes it more difficult to sell them.
It can hurt your FICO score.
It can lead to significant personal & financial consequence
18
What should you do after you make your purchase?
Reevaluate your needs.
Enjoy your product or service.
Tell your friends about the great buy you made.
Make a post-purchase evaluation.
19
Choosing a type of employment involves tradeoffs because:
Many jobs make you choose among different benefits packages
Many jobs offer no satisfaction for ppl who do them
Many jobs require a person to relocate to a new town/city
No job offers everything a person wants or needs.
20
What is the purpose of the 1040 series of tax forms?
To declare that you owe nothing in taxes
To file corporate tax returns
To file an extension for submitting your tax returns
To file individual tax returns
21
When is the best time to start saving a portion of your income?
After you get your first job
As you near retirement
As soon as you have the money
After you have paid off any student loans

FCS unit 1 review Flashcards | StudBud

FCS unit 1 review

21 termsStudBud Administration94 plays

This is our review for Unit 1 in FCS K12 Texas

Flashcards21 cardsFPractice quizPHost liveL

Questions 21

Answers

1
Which of the following represent standard payroll deductions?
All of the choices are correct.
State income tax
Unemployment insurance
Federal income tax
2
What is the basis for consumer protection laws?
Most businesses cannot be trusted.
To provide jobs for those who enforce them
Consumers have rights that sometimes need to be protected.
Consumers are not intelligent enough to protect themselves
3
Which is the best way to manage a credit card to ensure your financial health?
Only using your credit card to get cash out of an ATM
Paying the bill in full each month
Making the minimum monthly payment
Keep your balance as close as possible to the max allowed
4
Which of the following are the responsibilities of renters?
Keeping the place safe and clean
Paying rent on time
All of the choices are correct.
Not damaging the property
5
Which of the following can help you make an effective consumer complaint?
Sales receipt
All of the choices are correct.
Repair orders
Warranties
6
Why is it often a bad idea to buy luxury items on credit?
By the time you pay for it, you won't get any satisfaction
limits your ability to purchase necessities in the future
You may not want that item in the long run.
The price may go down over time.
7
Where should people register a complaint about safety issues involving a baby crib they bought?
Federal Trade Commission
Consumer Product Safety Commission
Consumers Union
Better Business Bureau
8
Which of the following are common financial scams?
All of the choices are correct.
Identity theft
Poorly disclosed extras
Merchandise fraud
9
How can a person calculate their net income?
By subtracting optional deductions from gross income
By adding their standard and optional deductions
By subtracting standard deductions from their gross income
Multiplying their gross income by the # of years they work
10
What methods do government agencies use to protect consumers?
Making laws and giving out information
Paying their hospital bills when they get hurt
Informing the public about which businesses to avoid
Providing ratings of businesses
11
If this person wanted to increase savings, which item is the easiest to limit?
Car loan
Cable TV/Internet service
Renter's insurance
Meals out and entertainment
12
Identify the factors involved in housing decisions.
Lifestyles
All of the choices are correct.
Values
Income
13
Which of the following are good reasons to balance your checkbook?
To detect mistakes made by the bank
To avoid bouncing checks
All of the choices are correct.
To help in creating a personal budget
14
Which of the following factors help to determine the housing market in a community?
Population increases
Interest rates
Employment rates
All of the choices are correct.
15
Why do agreements to buy or rent homes use legal terms?
To make the wording as clear as possible
To satisfy legal requirements
To protect the rights of both parties
So that only experts can make these agreements
16
What advice would you give a friend who wants to get a loan to put a pool in their backyard?
Make sure this won't affect their ability to buy necessitie
They should install a heater so they can enjoy it more.
They should look for the lowest rate on a loan.
They should do it themselves and save money.
17
Why is it a bad idea to delay buying insurance for your financial assets?
It causes them to lose value.
It makes it more difficult to sell them.
It can hurt your FICO score.
It can lead to significant personal & financial consequence
18
What should you do after you make your purchase?
Reevaluate your needs.
Enjoy your product or service.
Tell your friends about the great buy you made.
Make a post-purchase evaluation.
19
Choosing a type of employment involves tradeoffs because:
Many jobs make you choose among different benefits packages
Many jobs offer no satisfaction for ppl who do them
Many jobs require a person to relocate to a new town/city
No job offers everything a person wants or needs.
20
What is the purpose of the 1040 series of tax forms?
To declare that you owe nothing in taxes
To file corporate tax returns
To file an extension for submitting your tax returns
To file individual tax returns
21
When is the best time to start saving a portion of your income?
After you get your first job
As you near retirement
As soon as you have the money
After you have paid off any student loans