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MM Mid-Term Part 2
Test Description: Q 21-37
Instructions: Answer all questions to get your test result.
1) Identify which method companies are using to complete for your money: 90 days same as cash
A
repetition
B
financing
C
personal selling
D
product positioning
2) If you do not have a FICO score, what factors will determine whether or not you qualify for a mortgage
A
history of rental and utility payments
B
your rental and utility payments and the amount of your down payment and employment history
C
you cannot get a mortgage without a credit history
D
amount of down payment and employment history
3) Which is not a power of purchase tactic
A
shop around for the purchase
B
wait overnight
C
seek counsel
D
consider the opportunity cost
4) The purpose of advertising is to
A
persuade the consumer
B
entice the consumer
C
all of these
D
inform the consumer
5) Which of the following things can't be done with a debit card but can be done with a credit card
A
go into debt
B
purchase something online
C
purchase an airplane ticket
D
rent a car
6) By asking yourself why did I buy this product you are examining your
A
financing options
B
conscience
C
buyer's remorse
D
level of contentment
7) Which of the following statements is true
A
you should never pay to apply for college scholarships
B
the tuition at a 2 year college is the same as at a 4 year college
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
8) Identify which method companies are using to compete for your money by placing the product at eye level
A
personal selling
B
repetition
C
financing
D
product positioning
9) Percentage of college students that graduate with student loans
A
20%
B
30%
C
66%
D
90%
10) Instead of borrowing money for purchases, you should set money aside in a ___ over time and pay with cash
A
money market
B
sinking fund
C
emergency fund
D
credit card
11) In a budget, your income minus what you plan to spend your money on
A
should never = 0
B
shows how much you should save
C
shows how much you should give
D
should =0
12) Your monthly budget should include
A
transportation
B
all of these
C
savings
D
giving
13) Which of the following is a sign that your identity may have been stolen
A
a call from a collection agency about a debt you didn't incurr
B
bank and billing statements don't arrive on time
C
all of these
D
your credit report shows accounts you didn't open
14) The zero-based budget is the best method of budgeting because
A
this types allows less money for wants
B
it ensures that every dollar you make is assigned a specific purpose
C
sticking to a zero-based budget requires less discipline
D
this type is less complicated than other types of budgets
15) Which of the following is true regarding college
A
going to a trade school is the same as getting your associate's degree
B
military never pays for your college
C
going to a trade school is not the same as getting your associate's degree
D
always choose a 2 year college then transfer to a 4 year college
16) Car repairs is a
A
fixed expense
B
variable expense
C
intermittent expense
D
discretionary expense
17) Which of the following is not a credit myth
A
the lottery and other forms of gambling will make you rich
B
you have arrived financially once you get approved for a credit card
C
debt is a tool and should be used to create prosperity
D
borrowing money can have serious consequences and prevent you from building wealth
*select an answer for all questions
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