Personal Finance Ch 6
Which of the following is the best way to state a problem?
I need transportation
while evaluating alternatives, comparison shopping will be beneficial for being all of the following except _______________
a hotdog at the baseball park
which of the following is a disadvantage of a car lease?
at the end of the lease, you have no ownership interest in the vehicle
Craig wants to get his old car repaired, but he doesn't want to spend much money. He probably will NOT want to go to the most expensive repair service, which is from a(n)
car dealer
a fixed operating cost for a vehicle is _____________________
depreciation
Abigail checked out brands and prices of blue jeans at several stores. She was impulse shopping.
false
In comparing used vehicles, a vehicle that looks rusty on the outside will have major operational problems.
false
Small claims court is used to take legal action by a few individuals on behalf of all who have suffered the same alleged injustice.
false
The only way that you can have long-term financial security is to not save all of your current income.
false
The settlement of a difference between two parties through discussion and negotiation by a mediator is legally binding.
false
Thomas bought a vehicle from a used car dealer. He returned it to the dealer because the transmission fell out 150 miles after he purchased it. The dealer refused to accept the return because the vehicle was sold "as is". This is an example of limited warranty.
false
prices at the local convenience store will probably be lower than at the national retail grocery store
false
The appearance of a used car can be deceptive. When purchasing a used vehicle, it is a good idea to
have a trained and trusted mechanic of your choice check out the vehicle
While Paul was shopping for a new chainsaw, he found a great deal on a new drill and bought it. This is an example __________________
impulse shopping
Most products come with some guarantee of quality. This type of warranty covers only certain aspects of the product, such as parts.
limited warranty
A variable operating cost for a vehicle is ______________
maintenance and repairs
which of the following is an advantage of a car lease?
monthly lease payments are usually lower than monthly financial payments
these products are sold by the one chain of stores and are low-cost alternatives to famous name products
private-label or store brands
George has never bought a new car before. which of the following techniques should he use to get the best deal?
research the dealer cost and begin negotiations from that point
the amount printed on label with the suggested retail price that is posted on a vehicle is called _________________
sticker price
After two or three years of making loan payments on a new car, the balance owed is greater than the value of the car, which is a situation referred to as upside-down.
true
Joe bought some cheese at his local grocery store. After her brought it home, he noticed it was moldy even though the expiration date was still 3 weeks away. First he should contact the original sales location. If not resolved there then he should call the toll-free hotline number printed on the package to tell the company about the problem he encountered.
true
One of the best ways to compare prices of food packages of different sizes is to use unit pricing.
true
The largest fixed expanse associated with a new automobile is depreciation.
true
Thomas bought a toaster that would not toast bread, and he returned it. The manufacturer accepted the return because it was defective and came with a full warranty.
true
Tracy went to a local restaurant and became ill from the meal she ate. She can contact her city or county health department to handle problems with the restaurant.
true
advantages of a lease over a purchase include that the buyer can usually obtain a more expensive vehicle and the monthly lease payments are usually lower than monthly financing payments
true
The settlement of a difference between 2 parties by an arbitrator is legally binding
truw
During pre-shopping activities, which of the following sources would be the LEAST helpful when purchasing a vehicle?
your cousin who has never purchased a car
