Which example shows an advantage of owning a car over leasing one?

No limit on miles and the ability to customize, or make changes to the car.

When you are deciding what to buy, you should NOT...

assume that buying the cheapest item is the smartest choice.

Which of the following is NOT a warning sign of a scam when buying a car or other big purchases?

A price that fits comfortably in your budget

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 (unit price) is actually cheaper in the 24 pack.

Sofia receives a text message from her bank. All of the following indicate the text could be a scam EXCEPT....

the message directs her to call the number on the back of her debit card.

What is the best reason for why someone would want to lease a house instead of buying one?

They are planning on living there for a short period of time.

Which fact supports the idea that renting is a good option for living in a place for a short period of time?

Landlords take care of most maintenance.

Which of the following is NOT a useful strategy when making an informed purchase?

Purchasing a product based on a social media influencers comment

How is a post from a social media influencer different than a comment from a regular consumer?

The influencer is paid/compensated to post the product.

Making a good purchasing decision requires __________.

All of the responses are correct.

All of the following are ways to use social media more mindfully EXCEPT.......

checking your social media acounts frequently during the day.

How is an advertisement different from a comment from a regular consumer?

The advertisement is likely one-sided.

When you are deciding what to buy, you should...

compare the unit price of items similar to the one you want.

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EverFi Module 4: Consumer Skills Assessment Review

21 termsStudBud Administration866 plays

A review for the summative assessment for Module 4: Consumer Skills in EverFi.

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Questions 21

Answers

1
Which of the following payment options is NOT accepted online?
Cash
Check/checking
Credit Card
Debit Card
2
Which example shows an advantage of owning a car over leasing one?
Expiring warranty means that you will get to handle repair payments.
Smaller monthly payments and good warranty to cover repairs.
No limit on miles and the ability to customize, or make changes to the car.
You will drive a fairly new car for a limited period of time.
3
When you are deciding what to buy, you should NOT...
read reviews from unbiased sources.
compare the unit price of similar items.
assume that buying the cheapest item is the smartest choice.
wait for sales to get the best price.
4
Which payment option could have interest charged to you?
Debit Card
Credit Card
Cash
Check
5
Which of the following is NOT a warning sign of a scam when buying a car or other big purchases?
Being forced into warranties
Excessive fees
A price that fits comfortably in your budget
Add-ons that seem too good to be true
6
A pack of 24 pencils is more expensive than 12 pencils, but why could buying the 24 pack be the better deal?
The 24 pack comes with a carrying case.
The price of each pencil (unit price) is actually cheaper in the 12 pack.
The price of each pencil (unit price) is actually cheaper in the 24 pack.
This statement is false. Buying fewer pencils will always be a better deal.
7
What is one of the best ways to get reliable information about a product?
Look for the advertisements
Ask someone who has never used it
Search online reviews
Follow a social media influencer
8
Sofia receives a text message from her bank. All of the following indicate the text could be a scam EXCEPT....
the message says that she will lose money if she does not respond in 1 hr.
the message has several misspelled words.
the message directs her to call the number on the back of her debit card.
the message includes a link that starts with "http:".
9
What is the best reason for 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 of all repairs.
10
Which fact supports the idea that renting is a good option for living in a place for a short period of time?
Landlords take care of most maintenance.
Renting requires a large down payment.
Mortgages are usually for 15 or 30 years.
Leases are generally for a month or a year.
11
Which payment option can offer additional security like fraud protection?
Cash
Debit Card
Check
Credit Card
12
The price of a single item within a group of items is known as the ______________ of the item.
item price
total price
group price
unit price
13
Which of the following is NOT a useful strategy when making an informed purchase?
Purchasing a product based on a social media influencers comment
Read online review and asking friends about their experiences
Calculate the unit price of the item if applicable
Compare the product to other similar products offered by other companies
14
How is a post from a social media influencer different than a comment from a regular consumer?
The influencer is paid/compensated to post the product.
The post by the influencer is likely one-sided.
The post by the influencer may have been posted by the seller.
The post by the is an outright fabrication (lie)
15
Which method of payment actually is a form of borrowing money that needs to be paid back later?
Cash
Check
Debit Card
Credit Card
16
These payment types are linked bank accounts which limits the amount of $ you can spend to the balance in your account?
Credit cards & checks
Checks & debit cards
Cash & credit cards
Debit card & credit cards
17
Making a good purchasing decision requires __________.
reading reviews of the product
All of the responses are correct.
comparing the prices of similar items
waiting until the product is on sale, if possible
18
All of the following are ways to use social media more mindfully EXCEPT.......
unfollow accounts that encourage you to spend money.
reconnect with your values to avoid comparing yourself to others.
checking your social media acounts frequently during the day.
limit how much time you spend on social media apps/sites.
19
How is an advertisement different from a comment from a regular consumer?
There is not any differece.
The advertisement is made by an influencer who gets paid.
The advertisement may have been posted by the seller.
The advertisement is likely one-sided.
20
Which payment option takes money out of your bank immediately?
Check
Cash
Debit Card
Credit Card
21
When you are deciding what to buy, you should...
trust influencers to pick the best items for you.
pick the most expensive item to get the best quality.
compare the unit price of items similar to the one you want.
pick the cheapest item to get the best deal.

EverFi Module 4: Consumer Skills Assessment Review Flashcards | StudBud