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MM Ch 5 And 6 MC Part 1
Test Description: Q 21-36
Instructions: Answer all questions to get your test result.
1) The total estimated student loan debt outstanding (unpaid) is over
A
10 thousand
B
7 trillion
C
1 billion
D
1 trillion
2) Which of the following is not a good option when it comes to paying for your education
A
ask your parent to take out a loan
B
fill out the FAFSA application
C
get a part time job
D
plan ahead
3) Which of the following statements is false?
A
you can go to college without debt
B
our culture accepts student loan debt as normal
C
you don't have to pay on your student loan while you are going to college
D
a student loan is good debt
4) Which of the following statements about college financial aid is false
A
many businesses have scholarships for employees' children
B
scholarships are only for the highest academic achievers
C
the FAFSA is the first step to receiving any kind of financial aid
D
grants are free money
5) Which of the following statements is true
A
the tuition at a 2 year college is the same as at a 4 year college
B
you should never pay to apply for scholarships
C
working more than 10 hours a week can negatively affect a student's grade
D
on-campus jobs always pay toward your tuition bill
6) The average repayment period for a student loan is
A
15 years
B
20 years
C
5 years
D
10 years
7) Percentage of college students that graduate with student loans
A
30%
B
90%
C
25%
D
66%
8) Which is true regarding FAFSA
A
FAFSA needs to be completed onlky once
B
You don't have to use your family's tax information on the FAFSA
C
FAFSA offers college loans with no interest
D
Not everyone is approved for financial aid after applying for a FAFSA loan
9) Which of the following is not a need
A
utilities
B
food
C
furniture
D
housing
10) The purpose of advertising is to
A
all of these
B
persuade the customer
C
tease the customer
D
inform the customer
11) Which of the following is not a common marketing strategy
A
personal selling
B
providing financing options
C
repetition
D
making the customer do product research
12) When a company places an ad and offers no interest on your purchase for three years
A
all of these
B
the cost of financing is built into the price of the item
C
they are not interest in making a profit
D
they are showing their appreciation to you by giving you free money
13) What is a safe assumption to make regarding companies and their marketing practices
A
all of these
B
companies use all angles to aggressively compete for your money
C
companies spend millions of dollars and do extensive research on advertising
D
companies know that competition is fierce for consumer dollars
14) What concept is best explained by the statement money spent here cannot be spent there
A
significant purchase
B
law of diminishing return
C
opportunity cost
D
delayed gratification
15) Identify which method companies are using to compete for your money: 90 days same as cash
A
media
B
personal selling
C
product positioning
D
financing
*select an answer for all questions
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