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Teen Living Money Management 9.0 & 10.0 Flashcards | StudBud
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Teen Living Money Management 9.0 & 10.0
Teen Living Money Management 9.0 & 10.0
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Teen Living 9.0 & 10.0 Teen Living Consumer Management
Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
When evaluating an ad with a celebrity, a consumer should remember that the celebrity:
Has used the product only once
Was paid by the manufacturer to appear in the ad
Is an expert about the product
Paid the manufacturer to appear in the ad
2
A salaried employee earns:
More money than everyone else he/she works with
A base salary plue $5 an hour for extra hours worked
Same amount of money each month, regardless of hours worked
A varied amount of money each month based on amount of work
3
The ad in the picture is what type of advertisement?
Factual
Celebrity
Sex-appeal
Bandwagon
4
Endorsing a check means:
Balancing the bank statement
Withdrawing funds using the ATM
Signing the back of a check written to you
Filling out the deposit slip
5
A booklet for recording transactions on a checking account is called a/an:
Deposit slip
Statement
Money order
Register
6
What advertisement would make consumers feel everyone else is buying it so they should also?
Factual
Celebrity
Sex appeal
Bandwagon
7
Shopping for the most economical credit usually means looking for this:
Longest grace period
Lowest annual percentage rate
Longest time to repay the loan
Smallest monthly payment
8
Amount subtracted from total pay on a paycheck is called:
Benefits
Bonus
Deductions
Exemptions
9
Taylor learned Spanish by taking classes & listening to friends. Heused which resource?
Human
Possessions
Family
Natural
10
Which is a want for a family?
Money for food
Shelter to live in
A bathroom for every person
Car for parents to get to work
11
A written or printed record of a purchase is a/an:
Income
Receipt
Expenditure
Budget
12
If a stereo costs $450 and the store was paid $525 to finance it, what is the extra $75 called?
Loan amount
Net profit
Principal
<p>Interest</p>
13
The grace period on a credit card is usually the:
# of payments that can be skipped if it's you can't pay
# of months one agrees to keep a leased car or appliance
<p>Time to pay off the total amount owed</p>
<p>Time before finanace charge is added to what is owed</p>
14
Net income is the amount of income available:
Before taxes
After taxes
From money given by parents
During an entire career
15
Which is a fixed expense?
Gas
Car payment
Food
Clothing
16
What type of resource is money?
nonhuman
community
natural
human
17
What is important to consider when opening a savings/checking account at a bank/credit union?
Monthly withdrawals allowed
Fees charged
Locations of ATM
Costs of checks
18
Product labeling:
Gives no consumer information
Offers some consumer information
Shows a map of where the product was made
Tells the consumer everything about the product
19
Which is a flexible expense?
Car payment
Long distance phone bill
Sales tax
Mortgage payment
20
Tom needs to deposit his check by 2 p.m. today. Which step is NOT correct?
List and total the checks and cash he is depositing
Sign the backs of the checks he is depositing
Ask employer to sign him up for direct deposit
Take these items to the teller or ATM
21
The right to redress means that a consumer has the right to:
Speak out when he/she isn't in a good mood
A refund/replacement when products don't work properly
Know the facts about goods and services
Know when the products are being recalled
22
Savings accounts:
Keep money safe and charge interest for saving
Help a person manage the money he/she spends
Keep money safe and pay interest
Keep money on hand to spend at a moment's notice
23
What should a consumer do first when he/she has a faulty product?
Complete the registration card and mail it
Return the item to the store where it was purchased
Call the Better Business Bureau and make a complaint
Ask the store to recall the product and demand reimbursement
24
Income is defined as the amount of money someone:
<p>Desires to have</p>
Has to pay his/her bills
Earns & has available to spend
Has to buy the things he/she wants
25
When using the ATM machine, Melody always:
Takes her time so that few mistakes are made
<p>Waits until she gets off from work at 10:30pm</p>
Locks her doors & leaves the area immediately
Removes her card after putting cash in her pocketbook
26
Paying a loan monthly payments means:
Making regular payments toward the cost
Making a payment each time the item is used
Paying the interest only
Paying as much as possible each month
27
A computer is an example of what kind of resource?
Personal
Community
Material
Spiritual
28
What check is written but does not appear on a bank statement?
Outstanding
Cashier's
Endorsed
Canceled
29
Debit cards allow a person to:
Pay for itmes without writing a check
Earn interest on his/her purchases
Pay for major purchases only
Pay for items when he/she has no money in an account