Question 1

The purpose of small claims court is to:

Accepted Answer

A) regulate fair business activities. 
B) provide hearings on proposed consumer protection laws. 
C) allow consumers with similar complaints to take action as a group. 
D) resolve minor consumer complaints. 
E) assist low-income consumers who need legal help. 
A) regulate fair business activities. 
B) provide hearings on proposed consumer protection laws. 
C) allow consumers with similar complaints to take action as a group. 
D) resolve minor consumer complaints. 
E) assist low-income consumers who need legal help.

Question 2

Which of the following statements about the Legal Aid Society is not true?

Accepted Answer

A) It provides legal assistance to people who cannot afford their own attorney. 
B) It is part of a network of community law offices. 
C) It provides legal assistance at minimal cost or without charge. 
D) It is a for-profit organization. 
E) It is a publicly supported organization. 
A) It provides legal assistance to people who cannot afford their own attorney. 
B) It is part of a network of community law offices. 
C) It provides legal assistance at minimal cost or without charge. 
D) It is a for-profit organization. 
E) It is a publicly supported organization.

Question 3

Most cars bought from private parties have:

Accepted Answer

A) no implied warranties. 
B) a 30-day return privilege. 
C) a limited warranty. 
D) no express warranty. 
E) a government-supported repair guaranteE. 
A) no implied warranties. 
B) a 30-day return privilege. 
C) a limited warranty. 
D) no express warranty. 
E) a government-supported repair guaranteE.

Question 4

Open dating provides information on:

Accepted Answer

A) freshness. 
B) pricing. 
C) nutrition. 
D) common product use. 
E) government inspection. 
A) freshness. 
B) pricing. 
C) nutrition. 
D) common product use. 
E) government inspection.

Question 5

Paul Spoon has noticed that interest rates have risen in recent months.He is worried that this may make it more difficult for him to finance the purchase of a car.This would be an example of a(n)________ factor that influences his purchasing decision.

Accepted Answer

A) economic 
B) social 
C) personal 
D) global 
E) career 
A) economic 
B) social 
C) personal 
D) global 
E) career

Question 6

Arbitration differs from mediation in that arbitration:

Accepted Answer

A) involves government officials. 
B) requires the use of a lawyer. 
C) is only available in certain states. 
D) allows compromise through negotiation. 
E) is legally binding. 
A) involves government officials. 
B) requires the use of a lawyer. 
C) is only available in certain states. 
D) allows compromise through negotiation. 
E) is legally binding.

Question 7

The first phase of the consumer buying process is:

Accepted Answer

A) gathering information. 
B) evaluating alternatives. 
C) identifying the problem. 
D) researching alternatives. 
E) selecting the buying location. 
A) gathering information. 
B) evaluating alternatives. 
C) identifying the problem. 
D) researching alternatives. 
E) selecting the buying location.

Question 8

Explain the difference between arbitration and mediation.

Accepted Answer

The answer of Explain the difference between arbitration and mediation....

Question 9

Sally Nash has decided she needs a new car.After doing some research,she has settled on a midsized four door sedan.She likes the Honda Accord and is exploring the features she needs and wants on this car.She is also trying to decide whether she would be better off purchasing a new car,a used car,or leasing a car.She knows that if she purchases it new it would likely last her for many,many years.On the other hand a used car would be a lot cheaper.She is not sure a lease is for her because of the mileage requirements.What step in the purchasing process is Sally carrying out?

Accepted Answer

A) problem identification 
B) information gathering 
C) evaluating alternatives 
D) determining the purchase price 
E) post purchase activities 
A) problem identification 
B) information gathering 
C) evaluating alternatives 
D) determining the purchase price 
E) post purchase activities

Question 10

The purpose of a service contract is to:

Accepted Answer

A) prevent legal action due to a defective product. 
B) protect a product owner from expensive repairs. 
C) reduce the chance of needing repairs. 
D) obtain regular maintenance on a product. 
E) have legal assistance for consumer complaints. 
A) prevent legal action due to a defective product. 
B) protect a product owner from expensive repairs. 
C) reduce the chance of needing repairs. 
D) obtain regular maintenance on a product. 
E) have legal assistance for consumer complaints.

Question 11

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.

Accepted Answer

A) $240 
B) $200 
C) $2,040 
D) $1,040 
E) $10,400 
A) $240 
B) $200 
C) $2,040 
D) $1,040 
E) $10,400

Question 12

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

Accepted Answer

A) department store 
B) specialty store 
C) discount store 
D) convenience store 
E) cooperative 
A) department store 
B) specialty store 
C) discount store 
D) convenience store 
E) cooperative

Question 13

A social factor that would influence a consumer's buying decision would be the hobbies and interests they have.

Accepted Answer

A) True 
 B)False

Question 14

Federal Trade Commission regulations require that:

Accepted Answer

A) all used cars be sold with a warranty. 
B) used car buyers be informed of whether or not the vehicle comes with a warranty. 
C) used cars with over 100,000 miles be sold only by the individual owner,not by a dealer. 
D) major repairs must be made on all used cars prior to being offered for sale. 
E) the seller of a defective used car pay half the cost of the required repairs. 
A) all used cars be sold with a warranty. 
B) used car buyers be informed of whether or not the vehicle comes with a warranty. 
C) used cars with over 100,000 miles be sold only by the individual owner,not by a dealer. 
D) major repairs must be made on all used cars prior to being offered for sale. 
E) the seller of a defective used car pay half the cost of the required repairs.

Question 15

A Whirlpool dishwasher is an example of a:

Accepted Answer

A) national brand. 
B) store brand. 
C) generic brand. 
D) local branD. 
E) regional brand. 
A) national brand. 
B) store brand. 
C) generic brand. 
D) local branD. 
E) regional brand.

Question 16

An implied warranty that comes with a used car is that:

Accepted Answer

A) major repairs are the responsibility of the seller. 
B) government agencies will repair safety defects. 
C) the vehicle is in operating condition. 
D) hidden defects will be repaired at no cost to the buyer. 
E) the vehicle will be serviced free of charge for one year. 
A) major repairs are the responsibility of the seller. 
B) government agencies will repair safety defects. 
C) the vehicle is in operating condition. 
D) hidden defects will be repaired at no cost to the buyer. 
E) the vehicle will be serviced free of charge for one year.

Question 17

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?

Accepted Answer

A) coupon 
B) rebate 
C) warranty 
D) receipt 
E) promissory note 
A) coupon 
B) rebate 
C) warranty 
D) receipt 
E) promissory note

Question 18

What legal actions are available when assistance is needed to resolve a consumer problem?

Accepted Answer

When a consumer encounters a problem wit

Question 19

Pam McNally is planning to use the services of the Better Business Bureau.A major purpose of the BBB is to:

Accepted Answer

A) recommend reputable companies in an areA. 
B) resolve consumer complaints. 
C) lobby for improved consumer protection laws. 
D) evaluate products and services for quality. 
E) represent business in government hearings. 
A) recommend reputable companies in an areA. 
B) resolve consumer complaints. 
C) lobby for improved consumer protection laws. 
D) evaluate products and services for quality. 
E) represent business in government hearings.

Question 20

The main purpose of the Edmund's Guide is to:

Accepted Answer

A) monitor safety problems of existing vehicles. 
B) provide price data. 
C) reduce sales of stolen vehicles. 
D) list cars available for sale from government agencies. 
E) provide VIN numbers for vehicles. 
A) monitor safety problems of existing vehicles. 
B) provide price data. 
C) reduce sales of stolen vehicles. 
D) list cars available for sale from government agencies. 
E) provide VIN numbers for vehicles.

The purpose of small claims court is to:

Which of the following statements about the Legal Aid Society is not true?

Most cars bought from private parties have:

Open dating provides information on:

Paul Spoon has noticed that interest rates have risen in recent months.He is worried that this may make it more difficult for him to finance the purchase of a car.This would be an example of a(n)________ factor that influences his purchasing decision.

Arbitration differs from mediation in that arbitration:

The first phase of the consumer buying process is:

Explain the difference between arbitration and mediation.

The purpose of a service contract is to:

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.

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

A social factor that would influence a consumer's buying decision would be the hobbies and interests they have.

Federal Trade Commission regulations require that:

A Whirlpool dishwasher is an example of a:

An implied warranty that comes with a used car is that:

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?

What legal actions are available when assistance is needed to resolve a consumer problem?

Pam McNally is planning to use the services of the Better Business Bureau.A major purpose of the BBB is to:

The main purpose of the Edmund's Guide is to:

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters

Exam 8: Consumer Purchasing Strategies and Legal Protection

The purpose of small claims court is to:

Which of the following statements about the Legal Aid Society is not true?

Most cars bought from private parties have:

Open dating provides information on:

Paul Spoon has noticed that interest rates have risen in recent months.He is worried that this may make it more difficult for him to finance the purchase of a car.This would be an example of a(n)________ factor that influences his purchasing decision.

Arbitration differs from mediation in that arbitration:

The first phase of the consumer buying process is:

Explain the difference between arbitration and mediation.

The purpose of a service contract is to:

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.

Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk.Members can save a considerable amount on the groceries they purchase in the store.Stephanie is most likely shopping in which type of store?

A social factor that would influence a consumer's buying decision would be the hobbies and interests they have.

Federal Trade Commission regulations require that:

A Whirlpool dishwasher is an example of a:

An implied warranty that comes with a used car is that:

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?

What legal actions are available when assistance is needed to resolve a consumer problem?

Pam McNally is planning to use the services of the Better Business Bureau.A major purpose of the BBB is to:

The main purpose of the Edmund's Guide is to:

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters