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Answered

1A shopper benefits from reading Consumer Reports because the organization

Ais known for its coupons that will save money.

Btests and reviews products to help consumers make informed decisions.
Cfrequently offers contests to win gift cards.

Dfeatures advertisements on new products.


2Unions have been in decline since the 1960s because of

Aforeign competition.

BAmericans finding union jobs to be too difficult.

Cthe move of businesses to more expensive areas of the nation.

Dunions shutting themselves down because they achieved most of their original goals.

3What government program provides hospital and medical care benefits to people age 65 or older?

AMedicare

BMediage

CMedicaid

DSenior Citizen's Major Medical



  1. When a bank evaluates a person for a loan, what does the word "capacity" refer to?

AThe willingness to repay debts

BProperty that can be pledged to protect the lender
CThe ability to make payments on time

DThe amount of the loan in question


5Which federal agency insures savings deposits?

AThe Savings Deposit Agency

BThe Consumer Product Safety Commission

CThe Securities and Exchange Commission

DThe Federal Deposit Insurance Corporation


6It's advisable to start saving and investing as early as possible in order to

Atake advantage of low interest rates.

Ballow for more spending later.

Cavoid paying taxes.

Dtake advantage of compound interest.

7Which of the following shopping habits is best avoided?

AImpulse buying

BSaving for purchases
CReading labels

DUnit pricing


8 Why is the finance charge important to consider when shopping for credit?

AThe finance charge relates to how long you'll be paying the debt back.
BThe finance charge is the total you'll have to pay for credit.

CThe finance charge isn't available to all borrowers.

DThe finance charge determines your credit worthiness.


9The purpose of insurance is to

Aprotect against financial loss.

Bavoid vehicle accidents.

Cprovide extra costs to employers.

Dguarantee against medical problems.


10 A high-skill job has a lower supply of potential workers than a low-skill job because

Aonly a small number of people will have the skills or talent for a high-skill job.
Bhigh-skill jobs tend to be stressful.

Chigh-skill jobs don't pay enough.

Dlow-skill jobs tend to pay much more.


  1. Which of the following would be a reason why people save and invest?

ATo buy day to day items

BTo prepare for retirement

CTo hide their money from the government

DTo appear to be less well off than they really are

12In general, the best possible way to pay for something is with

Aan installment plan.

Ba credit card.

Ca charge card.

Dcash.


  1. Why are professional associations interested in keeping professional standards high?

AProfessional associations get paid based on customer reviews.

BA few dishonest professionals can hurt the entire profession.

CThey can charge more for higher standards.

DProfessional associations are forced by law to keep standards high.

  1. What's the cost of consumer credit?

AInterest

BBuying something you can't afford right now
CInflation

DInvestment


  1. One disadvantage of advertising is that it

Aencourages impulse buying.
Bprovides entertainment.

Csaves time.

Dstimulates competition.


  1. Comparing products according to price per ounce is an example of what shopping strategy?

AOunce pricing

BSuperior shopping

CUnit pricing

DPrice to earnings ratio


  1. Which of the following ways of investing/saving is the most liquid?

ASavings account

BReal estate

CFederal bond

DCertificate of deposit

  1. Which choice best describes labor laws passed during the New Deal?

AAnti-union

BNeutral towards unions

CUnion friendly

DNo labor laws were passed during that time period

  1. Wise money management

Aresults in an increase in your allowance or wages.

Bmakes saving unnecessary.

Creduces the need for bank accounts.

Dhelps you make the most of the money you have.

  1. How does consumer demand affect the economy?

AConsumers only buy normal goods.

BConsumers earn most of the income.

CConsumers help determine what goods and services will be produced through their purchasing decisions.
DConsumers are polled by companies as to what products should be produced.

Verified Answer :

1. The answer is “B. tests and reviews products to help consumers make informed decisions.”

Product testing tries to guarantee that buyers can comprehend what items will improve the situation them and which items are the best esteem. Item testing is a methodology to build buyer insurance by checking the cases made amid showcasing procedures, for example, publicizing, which by their tendency are in light of a legitimate concern for the element conveying the administration and not really in light of a legitimate concern for the shopper. The coming of item testing was the start of the cutting edge buyer development. Approaching thorough, target item testing outcomes is the essential apparatus which buyers can use to settle on an educated choice among item decisions.

2. The answer is “A. foreign competition.”

Since the 1960s, organized labor in the United States has been consistently decreasing. 50 years prior, 30 percent of American laborers were individuals in an association. By a year ago, that had wilted to 11.8 percent. Financial analysts have presented a wide range of hypotheses for the drop, from the contracting producing workforce to outside rivalry that has made U.S. organizations more threatening toward associations.

3. The answer is “A. Medicare”.


Medicare is medical coverage for individuals 65 or more seasoned, individuals under 65 with specific incapacities, and individuals of all ages with End-Stage Renal Disease (ESRD) (changeless kidney disappointment requiring dialysis or a kidney transplant). When you initially enlist in Medicare, you'll have Original Medicare, except if you settle on another decision. There are diverse ways you can get Medicare scope, including a Medicare Advantage Plan (like HMO or PPO). In a few kinds of plans that don't offer medication scope, you might have the capacity to join a Medicare Prescription Drug Plan.

4. The answer is “A. The willingness to repay debts”.

Capacity is a creditor's assessment of a man's eagerness and capacity to pay debts as judged by character. Capacity measures a borrower's capacity to reimburse a credit by looking at salary against repeating obligations and evaluating the borrower's obligation to-wage (DTI) proportion. Notwithstanding inspecting salary, moneylenders take a gander at the period of time a candidate has been at his activity and occupation dependability.

5. The answer is “D. The Federal Deposit Insurance Corporation”.

The Federal Deposit Insurance Corporation (FDIC) is a free organization of the United States government that ensures the assets contributors put in banks and investment funds affiliations. FDIC protection is sponsored by the full confidence and credit of the United States government. Since the FDIC was built up in 1933, no investor has lost a penny of FDIC-guaranteed reserves. FDIC protection does not cover other money related items and administrations that banks may offer, for example, stocks, securities, shared assets, life coverage approaches, annuities or securities.

6. The answer is “B. allow for more spending later.”

It is fundamental to begin sparing and contributing as ahead of schedule as workable for your retirement. The best opportunity for somebody to do this is the point at which they complete their instruction and begin an all-day work. The adjustment in wage is normally expansive as of now and it is conceivable to spare a decent level of salary while as yet redesigning their understudy way of life. Numerous new school graduates have advances, yet they can pay these off gradually while sparing and contributing for retirement in the meantime.

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