MM Mid-Term Part 2: Question Preview (ID: 24477)

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Identify which method companies are using to complete for your money: 90 days same as cash
a) financing
b) personal selling
c) repetition
d) product positioning

If you do not have a FICO score, what factors will determine whether or not you qualify for a mortgage
a) your rental and utility payments and the amount of your down payment and employment history
b) history of rental and utility payments
c) amount of down payment and employment history
d) you cannot get a mortgage without a credit history

Which is not a power of purchase tactic
a) shop around for the purchase
b) seek counsel
c) consider the opportunity cost
d) wait overnight

The purpose of advertising is to
a) all of these
b) entice the consumer
c) inform the consumer
d) persuade the consumer

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

By asking yourself why did I buy this product you are examining your
a) buyer's remorse
b) conscience
c) level of contentment
d) financing options

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

Identify which method companies are using to compete for your money by placing the product at eye level
a) product positioning
b) repetition
c) personal selling
d) financing

Percentage of college students that graduate with student loans
a) 66%
b) 30%
c) 20%
d) 90%

Instead of borrowing money for purchases, you should set money aside in a ___ over time and pay with cash
a) sinking fund
b) credit card
c) emergency fund
d) money market

In a budget, your income minus what you plan to spend your money on
a) shows how much you should give
b) shows how much you should save
c) should never = 0
d) should =0

Your monthly budget should include
a) all of these
b) giving
c) transportation
d) savings

Which of the following is a sign that your identity may have been stolen
a) all of these
b) bank and billing statements don't arrive on time
c) a call from a collection agency about a debt you didn't incurr
d) your credit report shows accounts you didn't open

The zero-based budget is the best method of budgeting because
a) it ensures that every dollar you make is assigned a specific purpose
b) this type is less complicated than other types of budgets
c) this types allows less money for wants
d) sticking to a zero-based budget requires less discipline

Which of the following is true regarding college
a) going to a trade school is not the same as getting your associate's degree
b) going to a trade school is the same as getting your associate's degree
c) military never pays for your college
d) always choose a 2 year college then transfer to a 4 year college

Car repairs is a
a) variable expense
b) fixed expense
c) discretionary expense
d) intermittent expense

Which of the following is not a credit myth
a) borrowing money can have serious consequences and prevent you from building wealth
b) debt is a tool and should be used to create prosperity
c) the lottery and other forms of gambling will make you rich
d) you have arrived financially once you get approved for a credit card

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