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