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FACS 7 (TEST #3) Flashcards | StudBud
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FACS 7 (TEST #3)
FACS 7 (TEST #3)
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Questions
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Answers
1
__________ is the total amount you can earn.
Net pay
401 (k) plans
Mutual funds
Gross pay
2
Blaming others if something goes wrong is an example of accountability.
False
True
3
As individuals reach ______ their world expands, and they learn to reach out to help others.
puberty
adulthood
old age
infancy
4
One time-tested strategy for avoiding time traps is to?
keep all activities separate
be realistic about what you can accomplish
re-start a task when you make a mistake
organize your time as you go along
5
Which of the following is NOT a category that helps prioritize each task on a to-do list?
tasks that must be done
tasks that should be done
tasks that someone else can do
tasks that you hope to do
6
Which of the following factors influence consumer decisions?
Advertising, technology, and economic growth
Demand, wants, and choices
Needs, wants, price
Power, demand, and price
7
Two of the most common time traps are procrastination and overcompensating.
True
False
8
Which of the following is NOT a benefit of advertising for consumers?
It increases the prices for goods and services.
Provide the consumers with helpful information about products and services.
It alerts customers to sales and special promotions.
It makes consumers aware of new or improved products.
9
Which of the following is NOT a benefit or reward of volunteering?
New skills
Work experience
New friendships
Financial gain
10
Which tax forms shows your total earnings for the previous year and the total amount of tax that was withheld?
Form 1040-A
Form W-2
Schedule E
Form 1999-INT
11
Which of the following does NOT make a positive contribution to your school?
Helping students who are having difficulty
Putting down another school
Protecting school property
Treating others with respect
12
Which of the following is NOT a drawback of advertising for consumers?
It decreases the prices that consumers pay for.
Misleading (suggests benefits that a product is unlikely to deliver).
It can be annoying (interrupts television programs).
Persuades people to spend money on goods or services that they don’t need.
13
Which of the following shows that you are accountable?
You acknowledge your mistakes and take steps to correct them.
You ignore safety warnings.
You repeat your mistakes.
You blame others for your mistakes.
14
Statements about a product based on the personal experience of celebrities, famous athletes, and consumers is called?
Endorsements
Ceremonials
Testimonials
Infomercials
15
A plan for spending and saving money is called?
Expenses
Income
Savings
Budget
16
If your budget is not balanced, the most reasonable way to balance it would be to:
increase the amount of your savings
reduce the amount of your flexible expenses
work overtime
reduce the amount of your fixed expenses
17
Which of the following is NOT an advantage of using credit?
It enables you to buy things you need but cannot afford.
It enables you to buy items on impulse.
It helps you handle unexpected expenses
It provides a way to build proof of your financial responsibility.
18
Which of the following is NOT a tip for avoiding procrastination?
take a small step to get started.
do unpleasant tasks last.
set up a schedule.
avoid distractions and interruptions.
19
_________ is the deceitful conduct for personal gain.
Identity theft
Consumer
Shoplifting
Fraud
20
An ad for a cleaning product suggesting that a home will be unsanitary without it is an example of?
Negative images
Bandwagon
Testimonial
Hidden fears
21
Shoplifting is a crime that can result in arrest, fines, and imprisonment.
False
True
22
Which of the following is NOT a consumer right?
Right to choose
Right to be informed
Right to service
Right to reasonable prices
23
The illegal use of an individual’s personal information is called?
Shoplifting
Fraud
Small claims court
Identity theft
24
Which of the following is NOT a good way to protect your identity?
Destroy financial documents by shredding them.
Keep items with personal information locked away.
Provide personal information over the phone.
Change computer or online passwords frequently.
25
The process you can follow to help you make the best choices for each situation is known as the?
Decision-making process
Analysis and evaluation process
Problem-solving process
Rational process
