Consumer & Family Services (EOP Review)

Question 1

Which of the following is NOT a non-human resource?

Accepted Answer

motivation

Question 2

An account that is available at a bank that holds deposited money and may pay interest

Accepted Answer

savings account

Question 3

This law protects you against an inaccurate credit record and give you the right to see it.

Accepted Answer

Fair Credit Reporting Act

Question 4

What information must you have to create a budget?

Accepted Answer

all of these

Question 5

What does it mean to "endorse" a check?

Accepted Answer

sign your name on the back

Question 6

Which of the following is an expandable resource (which increases with use)?

Accepted Answer

talents

Question 7

How often should you "balance" your checking account?

Accepted Answer

monthly

Question 8

Items that cost set amounts that you are committed to pay are called ________________.

Accepted Answer

fixed expenses

Question 9

A paid public message that promotes the sale of goods & services

Accepted Answer

Question 10

Grandparents, cousins, uncles, aunts, are called ________________ family members

Accepted Answer

extended

Question 11

Credit allowing you purchase goods & services now but requires you to pay the bill later

Accepted Answer

credit card

Question 12

A government agency responsible for preventing false advertising & deceptive practices

Accepted Answer

Federal Trade Commission

Question 13

Which of the following can help you with time management?

Accepted Answer

all of these

Question 14

A creditor's evaluation of your ability to repay a debt

Accepted Answer

credit rating

Question 15

The total amount BEFORE taxes are taken out

Accepted Answer

Gross

Question 16

A person who receives the death benefit of a life insurance policy after someone dies.

Accepted Answer

beneficiary

Question 17

Which of the following is a creditor who might give a loan to a consumer?

Accepted Answer

all of these

Question 18

This law requires creditors to provide a complete account of credit cost and terms

Accepted Answer

Truth in Lending Law

Question 19

When a single parent remarries the family is called a ___________ family

Accepted Answer

blended

Question 20

An account that is sometimes called an "on-demand" account, usually do not pay interest.

Accepted Answer

checking account

Question 21

This Better Business Bureau (BBB) is a consumer protection agency.

Accepted Answer

True

Question 22

Which of the following is an example of a flexible expense?

Accepted Answer

all of these

Question 23

Certificates that represent ownership of a small portion of a company are called _____________.

Accepted Answer

stocks

Question 24

Law protecting people from discrimination based on sex, marital status, race, religion, or age

Accepted Answer

Equal Credit Opportunity Act

Question 25

Which of the following do creditors look at in determining whether to give you credit?

Accepted Answer

all of these (3 C's of Credit)

Question 26

Making an unplanned or quick buying decision without giving it much thought is called ________

Accepted Answer

impulse buying

Question 27

Costs that occur repeatedly, which vary in amount from one time to the next are called?

Accepted Answer

flexible expenses

Question 28

A plan to help you manage your money wisely is called a ___________________

Accepted Answer

budget

Question 29

Couple, Expanding, Developing, Launching, Middle Years, Retirement

Accepted Answer

Family Life Cycle

Question 30

A written promise that a product will meet specific standards of performance is called a _____

Accepted Answer

warranty

Question 31

Consumers have the right to protection against harmful products

Accepted Answer

The right to safety

Question 32

This government agency watches over the sale of food, drugs, and cosmetics

Accepted Answer

Food and Drug Administration (FDA)

Question 33

Which of the following is true about your consumer rights and responsibilities?

Accepted Answer

all of these

Question 34

The price you pay the creditor for the use of the money loaned to you over a period of time

Accepted Answer

interest

Question 35

You have the right to expect a product to perform as it should

Accepted Answer

The right to performance

Question 36

Which of the following is a human resource?

Accepted Answer

all of these

Question 37

Which of the following is a renewable resource (which can be renewed)?

Accepted Answer

energy

Question 38

People who give credit and to whom debts are owed are called _________________.

Accepted Answer

creditor

Question 39

What is recourse?

Accepted Answer

asking for help

Question 40

How can you maintain "good credit"?

Accepted Answer

all of these

Question 41

Comparing prices, styles, and features of a product before buying is called ______________.

Accepted Answer

comparison shopping

Question 42

This agency handles complaints about unsafe products such as appliances, toys, and tools.

Accepted Answer

Consumer Safety Commission

Question 43

If you buy a product and it does not perform as expected, you have the right to _______.

Accepted Answer

recourse

Question 44

Something of value that you own and that you pledge to a creditor as security for a loan

Accepted Answer

collateral

Question 45

When the courts declare that a person is unable to repay debts it is called ___________.

Accepted Answer

bankruptcy

Question 46

A family that contains one parent and his or her children

Accepted Answer

single parent family

Question 47

The ability to use time well is called ________________.

Accepted Answer

time management

Question 48

An arrangement that allows consumers to use goods or services now and pay for them later

Accepted Answer

credit

Question 49

The ability to asses and initiate work independently

Accepted Answer

taking initiative

Question 50

Which of the following is an example of a fixed expense?

Accepted Answer

all of these

Question 51

How can you get your money "on-demand" from a checking account?

Accepted Answer

all of these

Question 52

What is meant by "pay yourself first"?

Accepted Answer

all of these

Question 53

When the grown daughter and her kids move back into her parents house after a divorce

Accepted Answer

extended family

Question 54

Law that states the rules by which consumers and creditors must settle disputes about billing

Accepted Answer

Fair Credit Billing Act

Question 55

Which of the following is an EXPENDABLE resources (which can be used up)?

Accepted Answer

all of these

Question 56

You have the right to reliable information about product costs, features, benefits, and uses

Accepted Answer

The right to be informed

Consumer & Family Services (EOP Review)

Questions 56

Consumer & Family Services (EOP Review)

Questions 56