Open dating information provides consumers with information about product freshness.
Steve Black has two children. He is buying each of them their own TV to put in their rooms so they do not have to join the rest of the family and watch TV together. Which one of the answers best explains Gary’s spending?
overindulgence of children
Emily is trying to decide whether to lease or buy a car. Which one of the following is not a factor necessary in making the comparison?
A high tech scam that uses spam or pop-up messages to deceive you into revealing your credit card number, bank account information, social security number, passwords, or other sensitive information is called:
You can often obtain medium-priced loans from commercial banks and credit unions.
A Whirlpool dishwasher is an example of a:
____________ is considered a variable operating expense of an automobile.
If Marjorie Wilcox borrows $200 for one year with an APR of 12% and an annual service fee of $10, what is her total cost of credit?
The total dollar amount you pay to use credit is called the:
Advertising is a type of consumer information commonly provided by business organizations.
Brian Williams has a piece of paper that he gives to the cashier when he purchases a particular item that allows him to get a dollar off the cost of that item. What is he most likely using?
Sandra Jennings gets a loan from General Motors Acceptance Corporation. Which type of lending institution is this?
Float can be defined as:
a period of time during which no interest is charged.
Which of the following would be an advantage of leasing a vehicle?
lease payments are likely to be lower than loan payments
The rule of 78s formula dictates that you pay less interest at the beginning of a loan.
If you find that you cannot make your payments, the first thing you should do is:
contact your creditors and try to work out a modified payment plan with them.
You may be able to borrow at a lower interest rate if you accept a shorter-term loan.
Pam McNally is planning to use the services of the Better Business Bureau. A major purpose of the BBB is to:
resolve consumer complaints.
If you borrow $100 at 10 percent simple annual interest and repay it in one lump-sum at the end of one year, you will repay:
For some debtors, bankruptcy has become an acceptable tool of credit management.
The least expensive loans are available from finance companies and retailers.
The most consistent quality is usually found with nationally known, brand-name products.
Isabel would spend $200 per week on groceries for her family if she did not use coupons. Her coupons save her 10 percent of that amount. She puts the amount saved into her savings account. How much will she have in her savings account at the end of the first year? Ignore interest earnings.
Which one of the following is a local organization that provides debt counseling services for families and individuals?
Consumer Credit Counseling Service
In a straight bankruptcy, many, but not all, debts are forgiven.
After you have selected a product, you should buy it immediately before the store runs out of it.
Tiffany Parrish has purchased a new car. Since then she has had to make six trips to the dealer in four weeks to fix several major problems without much luck. She knows that she is entitled to a refund. What type of law gives her the right to ask for a refund?
The first phase in the buying process involves information gathering.
A class action suit allows many people with the same complaint to take action as a group.
The consumer credit laws require that an advance notice be given before repossessing a car.
The CCCS aids families by:
setting up a budget for them.
If you want to take advantage of the interest-free period on your credit card, you must pay your bill in full every month.
Hector Ramirez has decided he needs a new car so that he has reliable transportation to work. He is getting recommendations from his friends as to what might be a good car to purchase. He is also looking at the Consumer Reports magazine to determine what they recommend as a safe, low maintenance car and he has searched some web sites on the internet as well. What step in the purchasing process is Hector carrying out?
Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time?
The annual percentage rate is the percentage cost of credit on a yearly basis.