AnswersPersonal Finance - EL3403Principles of Financial Planning

Spending Answers

0 verified answers1 views
1
Free Preview

Which activity is done in Step 2 of comparison shopping?

A
Research a product.
B
Assess the purchase objectively.
C
Compare prices and features.
D
Buy a product.
2
Free Preview

[BLANK]

A
increases
B
decreases
C
stays the same
3

Which option below is not a potential risk of purchasing a used car?

A
used cars can require repairs sooner
B
shorter lifespans of the engine and transmission
C
used cars can have lower initial cost
D
unexpected issues may arise
4

Which statements apply to leasing a car? Check all that apply.

A
The car may be driven as much as needed.
B
Payments are generally higher than buying.
C
There are mileage restrictions on the car.
D
You must return the car after the lease ends.
E
There are penalties for ending the lease early.
F
You can sell the car to someone else after the lease ends.
5

This chart shows the actual pricing history for three items.

Question illustration
A
game system
B
smartphone
C
DVD
D
It's most beneficial to buy all now.
6

What is the purpose of comparison shopping?

A
ensuring you are not buying out of emotion
B
attempting to find the best deal on a product
C
determining whether you truly need a product
D
reading reviews to make sure a product is good
7

Read the scenario.Raoul has just been promoted to a supervisor’s position, which is a steady job. He likes to enjoy life, take vacations, and change things up every now and then. That’s why he will not have a lot of extra money to spend on repairs and maintenance on his car.

A
buy a used car.
B
lease a used car.
C
buy a new car.
D
lease a new car.
8

When companies spend millions of dollars developing logos and slogans, or use celebrity endorsements to encourage consumers to buy particular products, this is called

A
false advertising.
B
undue influence.
C
product branding.
D
quality assurance.
9

A monthly fixed rate mortgage payment

A
could change.
B
never changes.
C
increases annually.
D
decreases annually.
10

Which questions should someone ask when deciding whether to lease or buy a car? Check all that apply.

A
Will I use it more than the allowed lease mileage?
B
Will my family like the car?
C
How long do I want the car?
D
How much do I want to spend?
E
How much do I like the car’s options?

Did you find these answers helpful?

More from this Course

Quiz
20 verified answers

Principles of Financial Planning

Quiz
20 verified answers

Principles of Financial Planning

Quiz
20 verified answers

3.2 Principles of Financial Planning