Everfi Lesson 4 Consumer Skills

identity theft

A crime that involves someone pretending to be another person in order to steal money or obtain benefits

credit report

A detailed report of an individual's credit history

credit card

A plastic card used to make purchases now and pay for them later.

When deciding what to buy, you should....

compare the unit price of items similar to the one you want.

These laws are meant to prevent unfair or deceptive business practices.

consumer protection laws

renting

the act of paying for the use of something (as an apartment or house or car)

Why is figuring out the unit price of something useful when shopping?

It helps you determine the best deal.

Safe alternative the the weak password: "Ilovedogs"

$iLOV3dGs6!

Consumer Financial Protection Bureau (CFPB)

A U.S. government agency that helps protect consumers by regulating financial products and services, like mortgages, credit cards, and student loans.

debit card

A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder

check

A business form ordering a bank to pay cash from a bank account

leasing

Renting a product while ownership title remains with the lease grantor

What is one of the best ways to get reliable information about a product?

Search online reviews.

How is an advertisement different from a comment from a regular consumer?

The advertisement is likely one-sided.

How is a post from a social media influencer different than a comment from a regular consumer?

The influencer is paid to post the product.

Unit price

The price of a single item within a group of items is known as this.

An advantage of owning a car over leasing one would be....

There are no restrictions on the number of miles to drive and the ability to customize or make changes to the car.

A reason someone would want to lease/rent a house instead of buy one...

They are planning on living there for a short period of time.

Which payment option is nbot accepted online?

cash

Which payment option could have interest charged to you if you don't pay the balance in full?

credit card

Which payment option takes money out of your bank account immediately?

debit card

The cheapest item is always the smartest choice.

false

ownership

the state or fact of owning something; taking title to...