You pay 95 cents to get five compact discs when you join a record clu Other charges you might expect to occur would be:
postage and handling costs
You want to teach children with disabilities. Typically you will need a college degree in:
Special Education
What landmark 1950s Supreme Court case made it illegal for public schools to discriminate based on race?
Brown v Board of Education; Brown v Board of Education of Topeka
How is eligibility for Head Start determined?
Using poverty guidelines established by the federal government
The Secretary of the Department of Housing and Urban Development is a cabinet-level position in which branch of government?
Executive
The Fair Housing Act was signed in 1964 by which President?
President Lyndon B. Johnson
Your apartment complex does not allow pets, but allows your neighbor's service dog. Why?
Service animals are an accommodation protected by federal housing laws
What federal law bans discrimination in the sale or rental of a home?
Fair Housing Act
What is one goal of the TANF program?
Encourage maintaining a two-parent household; reduce number of out-of-wedlock births; promote job readiness; assist needy families
What federal agency administers policies related to WIC?
USDA; Department of Agriculture
The FDA and CDC are both agencies under this federal department
US Health & Human Services
What electronic payment system gives SNAP recipients access to funds using a special debit card?
Electronic benefits transfer
This federal healthcare program provides coverage for low-income children whose parents do not meet qualifications for Medicaid
Children's Health Insurance Program (CHIP)
Name the federal early childhood education program that serves pregnant women and children from birth up to age 3
Early Head Start
Banned with the passage of the Voting Rights Act, what fee can no longer be charged to vote in any U.S. election?
Poll tax
Federal law forbids employment-based age discrimination against those this age or older:
40
Appointed in 1993 by President Bill Clinton, who was the first woman to serve as Attorney General of the United States?
Janet Reno
What type of election is held to replace an elected official who dies, resigns, or is impeached while in office?
Special election
In political terminology, what is a delegate?
A person chosen to represent their city or state at a national political convention
This monetary sum is like a down payment, and protects the landlord against damages when the tenant moves out:
Security deposit
You may file a complaint with this federal agency if a seller has violated the Cooling Off Rule:
FTC; Federal Trade Commission
A 17-year-old high school student takes classes at a community college. Who may see the college report card without the student's consent?
No one, unless you (the student) gives consent.
What is the Clery Act (1990) ?
A federal law that required university to disclose statistics on crime and security
Universities that violate the Clery Act can be subjected to fines imposed by which division of the Department of Education?
Office of Civil Rights
Name one way federal funds are used to support Title I schools:
Provide teachers; materials; summer programs; after school programs; support in reading and math
In order for students to receive special education services they must have an IEP. What does IEP stand for?
Individualized Education Program
Independent agencies validate colleges and universities. What is this process called?
Accreditation
What federal agency issues travel advisories?
Department of State
When two parties compromise on a shared decision, this process is called
Negotiation
What U.S. agency enforces federal policies about discrimination in the work place?
The U.S. Equal Employment Opportunity Commission (EEOC)
A crook who goes "dumpster diving" is probably looking for:
Personally identifying information
To avoid surprise charges for vacation travel:
Get the deal in writing first before making any payments
If a judge allows a defendant's attorney to enter certain evidence into trial, the evidence is said to be:
Admissible
A store's refund policy should be:
posted in a visible place
A responsibility of the Environmental Protection Agency is to:
set standards for automobile exhaust emissions
When you buy a car "as is" it means...
The seller has no legal responsibility
Under the Fair Credit Reporting Act, a credit bureau is required to conduct an investigation if:
you claim their information on you is incorrect
The consumer is protected by the:
Consumer Leasing Act
Before enrolling in a career or vocational school, it is best to:
call the FTC's regional office for accreditation information
You buy a CD from an online record company for $5. Another cost you might expect to incur is:
postage and handling costs
The FTC enforces:
Federal antitrust laws; Federal consumer protection laws
Garage sales and flea markets can be interesting places to shop. When purchasing used products, the consumer must remember:
they may not meet current safety standards
Security at large US airports is now provided by:
Federal government employees
Toys often require batteries to operate them. When the toy that needs batteries is advertised, the seller should:
disclose in the ad that batteries are required
Using the metric system, which unit would be used to measure length?
Meter
When buying a TV, you look at different makes and models. The warranty on the TVs:
may be different
Of the following actions, which would be most likely to lead to identity theft?
Giving out one's social security number
What does FTC stand for?
Federal Trade Commission
Advertisements with words such as "quick and easy", "fast profits", "no risk", or "secret plan" are probably:
deceptive
The Truth in Savings Act requires that fee information is disclosed to you:
Before you open an account and Periodically
OSHA is part of which federal agency?
US Department of Labor
When can a consumer or business submit a fax Opt-Out notice to stop a company from sending unsolicited advertisement?
24 hours a day, 7 days a week
If the number of exports exceeds the number of imports, a country would say its trade balance is:
Favorable
The federal government's Consumer Sentinel reports about fraud trends. What did the Sentinel report about fraud in the year 2013?
More fraud reports were made about internet scams
In absolute numbers, which region or country has the most undernourished people?
India
28 grams is about the same as:
One ounce
If you buy something by telephone, how many days do you have to cancel under federal law?
None
If an older man needs care giving assistance to be able to stay in his own home, demographics tell us the family member most likely to care for him is?
His wife
If you have your identity stolen you should file a police report because:
Your creditors may require a police report
It is against federal law for a radio station to broadcast indecent programming:
...
Consumer spending can best be described as:
Demand for goods and services
The largest category of WIC participants is:
Children
If a person has a continuing unresolved complaint against an insurance company, the best level of government to contact is:
state
Divorces and real estate contracts are regulated by what type of laws?
Civil laws
Forty percent of all shopping rebates:
Never get redeemed by consumers
What is true about state and federal do-not-call lists?
No states are sharing information; you must register for both lists to be sure you are covered
Name the federal agency that provides coins and currency to local banks. Is it:
The Federal Reserve
Since 1996, what information is required to appear on a faxed document?
Phone number, date, and time
Your eye doctor changes your prescription for glasses. Under the FTC Eye Glass Rule the eye doctor:
can charge you for a copy of the prescription
A supplement or addition to a will is called a what?
Codicil
An initial fraud alert stays on your credit file for how long?
90 days
At the most fundamental level what economic principle determines stock prices?
Supply and demand
Buying a product on the spur of the moment is called:
Impulse buying
Care labels may be found on what consumer products?
Clothing
How long does a Supreme Court Justice serve?
For life; until the justice resigns, dies, or is impeached
How many justices serve on the U.S. Supreme Court?
9
How many micrometers are in one meter?
One million
How much a product costs per unit of measurement is usually referred to as:
The unit price
How often is the Consumer Price Index calculated?
Monthly
How would the U.S. figure its balance of trade?
The difference in value between its imports and exports
If you see such terms as "windfall" "secret," and "overnight success," in advertisements, how should you react?
Cautiously; skeptically; avoid those products or services
In a market economy
who makes spending choices? , Consumers
In political terms
what is a lame duck? , A politician who will not be returning for the next session
In the US
the President is elected how often? , Every four years
In this type of scam many losers pay a few winners, and the emphasis is on recruiting new members rather than selling products:
Pyramid scheme
Is a loaf of bread a good or a service?
A good
Many states observe President's Day in February to specifically honor which two presidents?
George Washington and Abraham Lincoln
Name one common place you can find coupons?
Online, mail, newspapers
Name one place you can register for the Selective Service.
Any U.S. post office; U.S. embassy; U.S. consulate; SSS website; on your FAFSA form; at high school
Name two types of discrimination prohibited by the Civil Rights Act of 1964.
Race; color; religion; sex; national origin
Needed for travel outside the country
what document proves proof of U.S. citizenship? , Passport
On a school night under federal law, what is the latest a 14- or 15-year-old can work?
7:00 p.m.
One kilogram is equivalent to approximately how many pounds?
2 pounds (2.2 lbs)
Persons who receive the proceeds of another person's estate at death are called?
Heirs; beneficiaries
Shoplifting has what effect on consumer prices?
It increases them
The Bill of Rights is composed of what?
The first ten Amendments of the US Constitution
The central bank in the US is better known as the:
Federal Reserve System; Federal Reserve Bank
The Congress has passed a bill. The President refuses to sign the bill to become law. This presidential action is called:
Veto
The deliberate destruction of property is called:
Vandalism
This corporation protects depositors' funds in the event of the financial failure of their bank or savings institution:
Federal Deposit Insurance Corporation (FDIC)
Under the Family and Medical Leave Act
employees are entitled to up to 12 workweeks of unpaid leave a year for four situations. Name two: , Birth of a child; adoption of a child; caring for an ill family member; when the employee has a serious illness
What do primary elections decide?
A political party's candidate for an elected office
What does the acronym FDA stand for?
Food and Drug Administration
What is a Miranda warning?
It advises people of their constitutional rights (to remain silent, to have an attorney, etc) upon arrest
What is price gouging?
Pricing above the market price when no alternative seller is available
What is the legal drinking age in the US?
21
What is the term for "a person who informs on another in order to make public evidence of corruption or wrongdoing?
whistleblower
What marketing term describes a graphic design element (such as a name symbol or trademark) to represent a product?
A logo
What process allows the Supreme Court to decide if a law or government action violates the Constitution?
Judicial review
When you make a major purchase
the manufacturer's promise to stand behind the product is commonly known as the:, Warranty
Which economic law states that as the price of a good or service increases
consumer desire for the good or service will decrease? ,Demand
Which two countries border the U.S.?
Mexico and Canada
Which type of dispute resolution involves a third party that doesn't make a decision requiring the two parties to reach an agreement?
Mediation
Who sets the return policies offered by stores?
The stores; the owner
You often see "MSRP" next to the price of certain items. What does MSRP stand for?
Manufacturer's Suggested Retail Price
On US money what does "e pluribus unum" mean?
One out of many; out of many, one,
A legal document used when renting an apartment is called what?
a lease
to reduce the number of telemarketing calls you receive, register for this
National Do Not Call List
home mortgage has high interest rate compared to today's market rate; what should you do?
refinance your loan
making an economic decision to postpone a reward
delayed gratification
how do impulse purchases impact your budget?
ruin a budget; have to adjust budget after impulse purchase
in a formal decision-making process, what is the first step?
identify the problem/goal
Of public safety standards, public health statistics, and income inequality, which could be considered part of a nation's standard of living?
income inequality
economic concept based upon the idea that supplies are limited and wants are unlimited
scarcity
the 3 core federal antitrust laws in effect today
The Sherman Act
Federal Trade Commission Act
Clayton Act
BBB is funded by
its members
You visit a local restaurant and don't think the kitchen looked sanitary. Who should you complain to?
local or state health dept.
When choosing an escrow service to make an online auction purchase, you should make sure it's legitimate by checking to see if it is
licensed and bonded
Under state lemon laws, the financial responsibility for fixing a car that has been determined to be a lemon rests with
the auto manufacturer
People injured by a defective product may seek damages from the manufacturer. The manufacturer's responsibility is called
product liability
To sue your landlord because she unjustly kept your security deposit, you would file in this court
small claims court
main difference between internship and apprenticeship
apprenticeships lead to job at the end of the training period; most internships are temporary
Which of these do not belong in the same career cluster: Hospitality, Food and Natural Resources, Agriculture
Hospitality
CFP after a person's name signifies that they have achieved what professional credential
Certified Financial Planner
T or F: According to US labor laws, an unpaid intern cannot be used to replace paid staff.
T
T or F: At-risk young adults who have mentors are more likely to pursue college
T
Person with more experience and a higher position is said to have
seniority
time management is the ability to control and plan your time in order to accomplish your
goals
persons required by law to register with Selective Service must do so within how many days of their 18th birthday?
30
a person dying without a will is
intestate
document that expresses your health care wishes if you become incapacitated
living will
with which type of account is power of attorney given to securities brokers to buy and sell on your behalf
discretionary account
usually the legal age to sign a contract
18
money paid to a former spouse
alimony
which is considered confidential & not a public record: tax filings, court records, birth certificate?
tax filings
What dept enforces the Fair Labor Standards Act?
Dept of Labor
fraudulent acquisition and use of someone's personal info, usually for financial gain
identity theft
what is a mugu
a victim of advance-fee fraud
stealing credit card numbers by using a special storage device when processing your card
skimming
identity theft victims are entitled to a free copy of what report
credit report
the fraudulent practice of adding unauthorized charges to a customer's phone bill
cramming
the activity of defrauding an online account holder of financial info by posing as a legitimate company
phishing
How does the promoter of the pyramid scheme make money?
by recruiting new people to join
an illegal technique to get buyers to purchase more expensive items by luring them in with cheaper products
bait and switch
BOGO
buy one get one
if a seller does not specify a time frame for receiving a rebate, federal law requires you receive the rebate within how many days?
30
the application of commercial marketing techniques to social problems
social marketing
these plain label products do not have a brand name
generics
when the sender of an email is incorrectly identified, usually for fraudulent purposes
email spoofing
store marks a popular item at an unusually low price to attract customers to the store; the low priced item is a
loss leader
in the law, which Latin term means "buyer beware"?
caveat emptor
federal agency established in 1915 and charged with keeping American business competition free and fair
FTC
country imports more than it exports
trade deficit
total market value of all goods and services produced in a country in a given year
GDP
business cycle stages
growth, peak, recession, trough, recovery
price of a new car without options, but with standard equipment and a factory warranty
base price
people who buy & use products
consumers
minimum length of a lease needed for the Consumer Leasing Act to apply
4 months
person who violates the terms of a lease on an apt can be removed through the process of
eviction
agreement that increases the purchase price, is rarely worth the cost, and is frequently available when you purchase a car or large appliance
extended warranty
a right given to a lender over a borrower's property or money when the borrower cannot pay a debt
lien
instead of using the courts, when 2 parties agree to have another person listen to their arguments and make a final decision
arbitration
type of implied warranty that dictates that the seller promises that the product offered for sale will do what it is supposed to do
warranty of merchantability
the cancellation or "unwinding" of a contract
rescission; rescinding
president to first outline the Consumer Bill of Rights
John F Kennedy
if contract is cancelled, it becomes free of all legal effect, or is said to be
null/void
voting age
18
a person younger than the age of majority and is not considered an adult
minor; juvenile
person who investigates and settles insurance claims
adjuster
current chief justice of Supreme Court
John Roberts
entire study of law and legal philosophy
jurisprudence
If a country has a favorable balance of trade, what does this mean?
the country has a surplus; it exports more than it imports
meaning of the term "laissez faire
government should not interfere in commercial/business affairs
consumers may request that people stop spamming them thanks to this federal law
CAN-SPAM Act
the reason a person commits their crime
motive
the purpose of the government program known as Superfund
to clean up toxic waste sites around the country
the rules that govern the management of an organization
bylaws
legal term codicil means
an amendment to a will; an addition or correction to a will
amendment that guards citizens from unreasonable search and seizure
4th
employees may be required or scheduled to work overtime hours if the employee is at least __ years old
16
round-up billing: call lasting 4 mins 12 sec will be billed for how many minutes
5
fed organization enforces laws regarding job discrimination
Equal Opportunity Employment Commission
overtime pay is ___ times regular rate of pay
1 1/2
Supreme Court Justice that said privacy is "the right to be let alone
Justice Louis Brandeis
the process of proving to a court that a will is genuine
probate
request by a customer that a company not share his/her info with another party
opt out
net flow of goods between 2 countries
balance of trade
business that puts together your credit file and makes it available to lenders, insurance companies, and potential employers
credit bureau
to remedy or set right a consumer problem
redress
concept that consumers should exercise their rights and be able to spot and avoid fraud and deception
consumer protection
charge included in most lease transactions that either is paid up front or is included in the cost
acquisition fee, administrative fee, assignment fee, bank fee
federal tipped minimum wage
$2.13/hour
federal law that regulates the use of credit reports, requires the deletion of obsolete information, and gives you access to your credit file
Fair Credit Reporting Act
# of justices on Supreme Court
9
branch of govt that passes laws
legislative
2 year college that offers an associates degree
community/junior college
federal agency that regulates long distance service
FCC - Federal Communications Commission
overtime must be paid to wage earners after __ hours in a week of work
40
US Representatives run for re-election every __ years
2
Consider the global market for cotton. If the US government increases its subsidies to cotton farmers, what effect does this have on the amount of cotton grown in the US?
it increases
label on a product says EPC...what does EPC stand for?
Electronic Product Code
When you start a new job, your employer has you complete which tax form to note the amount of federal income tax you want deducted from your salary?
W4
four-letter acronym for the organization consisting of the world's major oil-exporting nations
OPEC
fed agency that enforces the Cooling Off Rule
FTC
under the statute of limitations, how long does the IRS have to audit your tax return
3 years (6 years if you underreported your gross income by >25%)
who selects the chairman of the FDIC
President of the US
term to describe actions taken to reduce government power in a particular industry, usually to create more competition
deregulation
In the US, what level of government has the power to print money?
Federal
At what temperature Fahrenheit does water freeze?
32 dregees
This federal agency goes by the acronym FDIC
Federal Deposit Insurance Corporation
The US Armed Forces include five branches. Name two of them
Army, Navy, Air Force, Marines, Coast Guard
What federal agency offers detailed guidelines to help companies write clear and legal warranties?
FTC; Federal Trade Commission
Trademark protection lasts how long?
Forever
You see a news report that ABC Company is "reorganizing." What does this mean?
Filing for bankruptcy
The act of creating a false document or writing a false signature for an illegal benefit is what crime?
Forgery
A business that has complete control of the market for a product or service is called a
Monopoly
Under the metric system, meters refer to distance and grams refer to
Weight
Stealing merchandise from a store is known as
Shoplifting
Each automobile has a unique VIN. VIN is an acronym for
Vehicle Identification Number
A lawsuit begun by one or more persons on behalf of a larger group of similarly affected people is called a
Class action
Turmoil in the Mideast causes an oil shortage. What will this do to the prices for gasoline in the US?
Prices will go up
You need to buy a new refrigerator, but first you look at several alternatives to make sure you get the best price. What is this process called?
Comparison shopping
When one product is advertised with the intent to sell the consumer a more expensive model, this is called
Bait and switch
To whom do wholesalers sell goods?
Retailers
What is prepaid plastic to spend at a specified store called?
Gift card
This rule allows you to cancel some types of purchases during a 3-day period.
Cooling Off Rule
You can check this agency, called the BBB, for a business' consumer complaint record
Better Business Bureau
Which federal agency is charged with coming to the public's aid in times of disaster?
FEMA; Federal Emergency Management Agency
If the average price of goods and services is increasing, this is known as
Inflation
What is the symbol, carried by most packaged items for sale, that can be scanned at the cash register?
UPC; Universal Product Code; bar code
A person who purchases or uses a product or service is called a what?
Consumer; customer
The communication of product information to the consumer, in order to increase buying demand, is commonly called
Advertising
A tariff is imposed on what type of good?
Imported goods
After the US census is taken, some states must redraw their legislative district boundaries to reflect population shifts. What is this called?
Redistricting
Retailers collect sales taxes and pass it on to this entity
State government
A measure of a nation's productivity and economic progress is the GDP. What does GDP stand for?
Gross Domestic Product
Explain how fake check scams work:
Con artists trick consumers into accepting worthless phony checks or money orders, then wiring some of the (real) money back to the scamer
Name one thing you should do immediately if you are victim of a fake check scam:
Contact your bank; explain that you've been scammed and request that no negative actions be taken against you; file a report with the police; contact the FTC; contact the U.S. Postal Inspection Service
Why does the U.S. Postal Inspection Service take an interest in protecting consumers from fake check scams?
When a scammer sends a fake check through the mail, they are committing mail fraud; the Postal Inspector is responsible for enforcing federal laws against mail fraud
The federal government agency that provides policy on food, agriculture, and rural development
USDA; U.S. Department of Agriculture
This federal registry allows consumers to limit the telemarketing calls they receive
National Do Not Call Registry
The concept that provides for counterbalancing influences to regulate a system, a founding principle of our constitutional government
Checks and Balances
The federal agency that manufactures and distributes coins for circulation
U.S. Mint
The process of removing or reducing government regulations
Deregulation
The central banking system of the Untied States, also divide into twelve districts
The Fed; Federal Reserve Bank
Th federal rule that provides consumers three days in which to cancel certain transactions
Cooling Off Rule
A tax or duty to be paid on a particular class of imports or exports
Tariff
Enforced by the FTC, this law requires manufactures to attach labels to clothing wit instructions for its care and cleaning
Care Labeling Rule
Directed by Richard Cordray, this federal agency oversees financial products and services offered to consumers
CFPB' Consumer Financial Protection Bureau
In retail selling, what does the term BOGO mean?
Buy one, get one
Under the Fair Credit Reporting Act, what are credit Bureaus required to do regarding inaccurate information in your credit report?
Credit bureaus are responsible for correcting any inaccurate information in your report
There were only 14 states when it was passed in 1791, and it was ratified by all 14 state legislatures, What term is used to describe the first ten amendment to the U.S. Constitution?
The Bill of Rights
Named after an Austrian architect, the term "Gruen transfer" describes the moment shoppers walk into a mall, and due to the mall's intentionally confusing design, do what?
Lose track of their original intentions; forget what they came in to buy; buy things they didn't intend to; become impulse buyers
Every year, Daylight Savings Time begins at 2:00 AM on the second Sunday of which month?
March
Which federal agency runs the Consumer Sentinel, where fraud data is collected from law enforcement agencies around the world?
FTC; Federal Trade Commission
You join an on-demand video site, which comes with a free 30-day trial. When you sign up, you enter your credit card number, and f you don't opt out after 30 days, you'll be charged for the service. What is this form of marketing called?
Negative option
What is the purpose of a primary election?
To select a political party's candidate for an elected office; to determine the candidates that will run in the general election
What must happen before your wages can be garnished?
You must be summoned to court; a debt collector obtains a court order; there is a judgment ruled against you in court
Which level of govt oversees Navy, Army
federal
Which govt branch makes laws
legislative
If you approach the cash register and an item rings up for a different price than you expected, you should:
ask for the cashier to check it
providing the price before the purchase
disclosure
multiple suppliers in a free market
competition
Andrew Wheeler is the current administrator of this agency, known as the EPA
Environmental Protection Agency
After interview, you should send a thank you note within __ days
2
When applying for a passport, name 2 things you need
birth certificate/proof of citizenship, photo ID, 2 pictures, a completed passport application
If you receive merchandise you never ordered, you can
keep it as a free gift.
If you place an order and the delivery date is not specified, the item must be delivered within __ days.
30
agency in charge of safety standards
CPSC: Consumer Product Safety Commission
ensures privacy of medical records
HIPAA: Health Insurance Portability & Accountability Act
bcc: on an email is used to conceal the identity of a recipient and stands for
blind carbon copy
person that counsels or assists you during college
adviser
work program that includes part-time employment during college
work study
This amendment gave 18 year olds the right to vote
26th
You will pay this if you receive an inheritance of over $5 million
estate tax
company that provides your cell phone service
carrier
After you call the credit reporting agency, why should you follow up a call to report identity theft?
to document the date it was reported
country that is largest ad market in the world
USA
economic term describes when a consumer makes a decision between 2 alternatives
choice
these ppl buy goods/services to meet their wants
consumers
we see 4,000 to 10,000 of these per day
ads
How does advertising benefit businesses?
increase sales, draws consumers
1 way advertising benefits consumers
informs them about product/service
tactic used by business to build a "brand personality
logo or slogan
famous person speaking positively about a product/service
celebrity endorsement
30-minute long advertisement
infomercial
most watched sporting event and therefore very expensive advertising cost
Super Bowl
license authorizing banks to operate
charter
notify this agency if your telephone carrier was switched without your permission
FCC
you have the capacity to sign a contract at this age
18
signs a contract with you and agrees to be bound by it as well
cosigner
# of days seller has to refund your money if can't ship by deadline
7
FMLA allows a max of __ weeks leave
12
choose work hours to benefit yourself/family
flextime
name 2 soft skills
leadership, communication, tact, conflict mgmt, friendly, ethical
TSA
Transportation Security Administration
2 words used to describe info from media as a type of yellow journalism or propaganda that consists of deliberate misinformation or hoaxes spread via traditional print and broadcast news media or online social media.
fake news
HIPAA ensures
privacy of medical records
FMLA
Family Medical Leave Act
worker could take FMLA for this
maternity, adoption, sick family member
longest leave under FMLA
12 weeks
newest: HIPAA, FMLA, ADA
HIPAA
Base price
Cost of a vehicle with standard equipment; no options or upgrades
Book value
Estimated market or trade-in worth of a used vehicle as published in a guide by Kelley Blue Book, NADA, or Edmunds
Extended warranty
Service contract that provides for no or low cost vehicle repair, after the factory or dealer warranty expires
FTC Used Car Rule
The rule that requires all used car dealers to place a "buyer's guide" in a conspicuous place in each used vehicle they offer for sale
Factory warranty
Promise by the vehicle manufacturer to repair or replace defective components for a specific period of time
Invoice price
Approximate price the dealer pays the manufacturer for a vehicle
Lemon laws
These state laws protect buyers when vehicles have serious defects
Monroney sticker
A window sticker, required by law to be placed on every vehicle, includes information such as MSRP and fuel economy
NHTSA
National Highway Traffic Safety Administration; the federal agency dedicated to achieving the highest standards of excellence in motor vehicle & highway safety
Recall
When a safety defect is discovered, the manufacturer is required to remedy the problem at no charge to the owner
Registration
Legally recording ownership of a vehicle with a government agency for tax & licensing purposes; the registration certificate is carried in the vehicle
Document that shows legal ownership of a vehicle
Title
VIN
Vehicle Identification Number; a unique code used by the auto industry to identify/track each vehicle manufactured
TRUE OR FALSE? When buying a vehicle, one of the most important parts of getting a "good deal" is making sure the monthly payments are affordable.
FALSE - a "good deal" is based on negotiating the total vehicle price
TRUE OR FALSE? When buying a vehicle, begin your negotiations with the invoice price.
TRUE
TRUE OR FALSE? Once you have decided on the vehicle you want to purchase and have negotiated the price, go to the bank or credit union to discuss financing.
FALSE - do this before you enter a dealership
TRUE OR FALSE? Focusing only on the monthly payment could result in paying too much for a vehicle.
TRUE
TRUE OR FALSE? When a trade-in is part of a vehicle purchase, the dealer will offer the best price for the trade-in because they want to make a sale.
FALSE - always check book value
TRUE OR FALSE? The invoice price tells exactly what the dealer paid for the vehicle.
FALSE - they could have received incentives or some other purchase program but the invoice gives a good indication of the approximate cost
TRUE OR FALSE? The consumer does not buy cars every day, but they do have the most important negotiating "tool.
TRUE - the most effective bargaining tool is the 180-degree turn and walk away!
TRUE OR FALSE? Purchasing a used car can save the consumer an average of 25% in overall ownership & operating costs.
FALSE - the savings are larger! A used car can save the consumer 50% of those costs.
TRUE OR FALSE? One should investigate insurance costs before making a final decision to purchase a vehicle.
TRUE
TRUE OR FALSE? One of the first steps in the vehicle buying process is to discuss the amount of your monthly payments with the salesperson.
FALSE - only after negotiating the final price do you discuss monthly pmts
TRUE OR FALSE? When buying a used vehicle, it saves money for the consumer to request that the dealership give the car a thorough inspection before the sale is complete.
FALSE - use an independent source to get a non-biased assessment
TRUE OR FALSE? The largest cost factor when owning a new vehicle is depreciation.
TRUE
TRUE OR FALSE? The Federal 3-day Cooling Off Rule applies to new, not used, vehicles.
FALSE - does not apply to any vehicle; applies to home purchases
TRUE OR FALSE? Invoice price and base price are identical.
FALSE - invoice is manufacturer's price to dealer; base is price of vehicle with standard equipment (no options or upgrades)
TRUE OR FALSE? Lemon law is a mandated federal standard that outlines a consumer's rights when a vehicle has a unique problem that does not respond to repair.
FALSE - determined by federal and state levels
When a person dies, this legal document gives the date/cause of death.
Death certificate
In the federal government structure, this person is in charge of the executive branch.
President
It is illegal for a person to be married to more than one person. This is called ___.
Polygamy
Enforced by the FTC, the Mail or TelephoneMerchandise Rule requires that merchants ship goods within 30 days or inform the customer of delays and their right to cancel the order due to delays
30 Day Rule
Used to determine if a user is human, consumers decode distorted images of letters and numbers to gain entrance to a password-protected site
CAPTCHA
Contrasting features and prices of a product before purchasing
comparison-shop
Promotions for online purchases that allow the consumer to save money on the purchase or the shipping costs
coupon codes
Card Verification Value, numbers located onthe back of a credit card used for security and identification
CVV Code
Making E-commerce transactions with a digital device such as smart phone or computer
digital wallet
The cost of an item fluctuates frequently based on a variety of marketing factors
dynamic pricing
Sales, transactions, refunds and other business performed online
E-commerce
Online stores
E-mall
FTC, Agency with the mission of protecting consumers and preventing fraud, deception, and unfair business practices in the marketplace
Federal Trade Commission
Hypertext Transfer Protocol Secure, this abbreviation appears in the search bar to indicate the transmission of data is secure
https://
Automated digital program, activated by a consumer that informs when an items reaches a price point
price alert
Procedure, timeframe and potential cost of returning merchandise
return policy
indicates data encryption for safety and is indicated by the search bar turning green, a padlock appearing in the search bar, and the prefix http changing to https
SSL Secure Sockets Layer
Business days allowed in the FTC Cooling-off rule
3
minimum voting age established by the 26th Amendment
18
number of people on a grand jury
23
maximum hours allowed in a week before overtime pay applies
40
used to trace phone calls
*57
number synonymous with advance-fee fraud
419
number of voting representatives in the U.S. House
435
prefix indicating a toll-free number
800, 877, 888
emergency services telephone number
911
year President Kennedy introduced the Consumer Bill of Rights
1962
Which one of the following jobs is not exempt from the child labor provisions of the federal Fair Labor Standards Act? a) Performing in movies and theatrical, radio and television productions b) Restaurant work c) Newspaper delivery
Restaurant work
What federal agency is known as the DEA
Drug Enforcement Agency
If a person is younger than the age of majority and is not considered an adult, they are a:
Minor; juvenile
What is probate?
The process of proving to a court that a will is genuine
To remedy or set right a consumer problem is known as:
Consumer redress; redress
The concept that consumers should exercise their rights, and be able to spot and avoid fraud and deception, is called:
Consumer protection
If a contract is cancelled, it becomes free of all illegal effect, or is said to be:
Void; null
Federal law says the latest time a telemarketer may call you is:
9:00 PM
Which federal law goes by the acronym ECOA?
Equal Credit Opportunity Act
When you buy a pre-paid phone card at the store, the store: a) Is responsible for the quality of service you receive b) Can give a refund on partially-used cards c) Is in competition with other long-distance companies d) Has sold you a service, not a prod
Has sold you a service, not a product
Anyone who wants to use the UPC system must apply for rights through the: a) Federal Trade Commission b) Food and Drug Administration c) Uniform Code Council d) United Nations
Uniform Code Council
Which of the following ads is an example of an "ad hominem" persuasion technique? a) "This politician has made wrong choices, can we trust his beliefs?" b) "It's Valentine's Day, have you bought your special someone flowers?" c) "Our cologne can make you
This politician has made wrong choices, can we trust his beliefs?
You go to a local store because you find a great price in their ad. Once at the store, the clerk tries to sell you a more expensive item. This describes which sales tactic? a) A ponzi scheme b) Bait and switch c) Upselling d) Marketing
Bait and switch
Periodically your credit card sends you a travel book and bills you for it, unless you proactively say you do not want it. This is what type of marketing? a) Behavioral b) Ambush c) Integrated d) Negative option
Negative option
US Senators are elected by: a) A majority of the popular vote b) A plurality of the popular vote c) A minority of the popular vote d) The state legislatures
A plurality of the popular vote
Which of the following is not true about the Commissioners at the Federal Trade Commission? a) Commissioners are appointed by the President b) Commissioners are confirmed by the Senate c) No more than three Commissioners can be of the same political party
Commissioners serve terms of 4 years
You want to buy your first house. Which type of financial firm makes mortgage loans? a) Thrift institutions b) Trust companies c) Credit counseling agencies d) Credit bureaus
Thrift institutions
You want to sue your landlord because you think she unjustly kept your security deposit. You file in: a) Appeals court b) Criminal court c) Small claims court d) Federal court
Small claims court
Products designed for sale in a specific chain of stores are known as: a) Generics b) Name brands c) National brands d) Store brands
Store brands
The first step in resolving a consumer complaint is to: a) Call corporate headquarters of the company and demand your money back b) Complain to all your neighbors and give the company a bad name c) Contact a sales person or customer service representative
Contact a sales person or customer service representative
A written, sworn statement of a witness that can take the place of court testimony, is: a) A codicil b) An oath c) A brief d) A deposition
A deposition
When legislation is formally introduced in Congress it is known as: a) A bill b) A law c) An act d) An amendment
A bill
State laws that help provide a remedy for consumers who buy cars of poor quality or performance are associated with: a) Lemons b) Limes c) The color blue d) Slugs
Lemons
A person in which racial group is most likely to be a registered voter? a) White b) Black c) Hispanic d) Asian
White
Which of the following agencies does not report directly to the Secretary of Homeland Security? a) The U.S. Coast Guard b) The Transporation Security Administration c) The Secret Service d) The U.S. Department of Justice
The U.S. Department of Justice
By law, once you report the loss or theft, you have no further responsibility for unauthorized charges made to your credit card. In any event, what is your maximum liability under federal law per card? a) $50 b) $100 c) $250 d) You are liable for all char
$50
Which president signed into law the bill creating the Department of Labor? a) President Jimmy Carter b) President Franklin Roosevelt c) President Theodore Roosevelt d) President William Taft
President William Taft
Which of the following is not another name for a "store brand"? a) National brand b) House brand c) Private-label brand d) Generic brand
National brand
SNAP benefits may not be used to purchase: a) Meat b) Plants and seeds c) Alcohol d) You can buy all of these with food stamps
Alcohol
If a minor child is freed from the controls of his parents, and allowed to live on his own or under the control of someone else, the minor is said to be: a) Committed b) Endorsed c) Cessated d) Emancipated
Emancipated
Fifty percent of SNAP recipients are: a) Disabled b) Children c) Elderly d) Retired
Children
What is "Consumer Sentinel"? a) A governmental agency b) A database available to hundreds of law enforcement agencies worldwide c) A e-newspaper published by the federal government d) A computer program that protects users from spam
A database available to hundreds of law enforcement agencies worldwide
The simplest and most common structure chosen to start a new business is: a) IPO b) Sole proprietorship c) Corporation d) Partnership
Sole proprietorship
Managing the nation's money supply is the responsibility of the: a) U.S. Treasury Department b) National Mint c) Federal Reserve Bank d) Federal Deposit Insurance Corporation
Federal Reserve Bank
An important federal agency goes by the acronym FDA. What do the letters stand for? a) Federal Drug Agency b) Food and Drug Administration c) Free Drugs for All campaign d) Food and Drug Association
Food and Drug Administration
Which of these is not a consumer benefit to filing a class action lawsuit? a) Gain leverage with more consumers involved b) Don't owe legal fees until the case is successfully concluded c) Choose the court that will be most sympathetic d) Strengthen a cas
Choose the court that will be most sympathetic
The privacy of e-mail messages is protected by: a) The Mail Order Rule b) Federal privacy laws c) Internet service providers d) International law
Federal privacy laws
Using marketing techniques to "sell" ideas, attitudes, and behaviors, especially to benefit individuals and society, is called: a) Stealth marketing b) Behavioral marketing c) Experiential marketing d) Social marketing
Social marketing
The EPA's Worker Protection program applies to: a) Farms, nurseries and greenhouses b) Mines and power plants c) Schools d) All commercial entities
Farms, nurseries and greenhouses
Which government agency is responsible for bicycle helmet safety? a) Federal Trade Commission b) National Highway Traffic Safety Administration c) Environmental Protection Agency d) Consumer Product Safety Commission
Consumer Product Safety Commission
Under normal circumstances, how many free credit report(s) may you get from each of the three nationwide credit reporting companies within a 12 month period? a) None b) One c) Two d) Three
One
Which is the biggest export partner of the United States? a) China b) Canada c) Mexico d) Germany
China
You've invented a new product and want to promote it. Invention promotion firms: a) Must register with the FTC b) Can charge thousands of dollars c) Are banned from advertising on TV or the radio d) Must promise to buy your merchandise
Can charge thousands of dollars
Which division of the Department of Labor makes rules regarding a heat wave? a) Wage & Hour b) Occupational Safety & Health Administration c) Office of Disability Employment Policy d) Mine Safety & Health Administration
Occupational Safety & Health Administration
You receive an email from your bank. They ask you to click on a link to update your password. Delete the email to avoid this scam: a) Spoofing b) Triangulation c) Phishing d) Pharming
Phishing
You order something by mail and no delivery date is specified. In this case federal law says it must be delivered within: a) Seven calendar days b) Ten business days c) Thirty business days d) Thirty calendar days
Thirty calendar days
A mix of advertising and entertainment that takes the form of a video game is called: a) Videomarketing b) Advergaming c) Marketeering d) Gamesmanship
Advergaming
A potential United States Attorney must be: a) Approved by the President b) Approved by the President and confirmed by the Senate c) Approved by the President and confirmed by the House of Representatives d) Approved by the President, approved by the Hous
Approved by the President and confirmed by the Senate
In the US, when are federal elections held? a) The first Tuesday in November b) The second Tuesday in November c) The Tuesday following the first Monday in November d) The Tuesday following the second Monday in November
The Tuesday following the first Monday in November
You are told you've won an international lottery, but you just need to pay taxes on your winnings first. BEWARE. This is probably a common scam known as: a) A tax scam b) A Ponzi scheme c) An advance fee fraud d) A pyramid scheme
An advance fee fraud
You are billed on your credit card for two airline tickets you did not purchase. Which of the following consumer credit laws protects you: a) The Truth in Lending Act b) The Truth in Savings Act c) The Fair Credit Reporting Act d) The Fair Credit Billing
The Fair Credit Billing Act
The Fair Debt Collection Practices Act says debt collectors may contact third parties (such as employers and family members) only in this circumstance: a) To tell them about your debt b) To get personal information about you c) To collect the debt from th
To locate you
The Second Amendment to the US Constitution guarantees: a) The right to vote b) Freedom of religion c) Protection from self-incrimination d) The right to bear arms
The right to bear arms
The new-car dealer offers you an extended warranty. This most closely resembles a: a) Service contract b) Written warranty c) Spoken warranty d) Implied warranty
Service contract
When an individual loses the right to sue in court because too much time has passed between the date of damages and the filing of the lawsuit, what period is said to have run? a) The statute of limitations b) The statute of frauds c) Strict liability d) C
The statute of limitations
There is a lake on the privately owned property next door. Your friend suggests you sneak over at night and fish in the lake. This could be considered: a) Vandalism b) Trespassing c) Truancy d) Espionage
Trespassing
Many people die without a will. The court may appoint a person to supervise the distribution of another person's property after his or her death. This appointed person is called the: a) Administrator b) Arbitrator c) Escrow advisor d) Executor
Administrator
The Latin term "pro se" is used to describe a person who: a) Is on probation b) Brings a lawsuit against another person c) Is a guardian for another person d) Represents himself or herself in court
Represents himself or herself in court
Two people agree to commit a crime and do something to begin this crime. They can be charged with: a) Contempt b) Conjugation c) Conspiracy d) Contested negligence
Conspiracy
Which of the following is the administrative arm of the United Nations? a) UNESCO b) The Security Council c) The Secretariat d) The General Assembly
The Secretariat
What is true about the trademark process? a) You should file yourself to save money b) Most applicants can file for free c) Most applicants file using an attorney d) Only corporations can apply for trademarks
Most applicants file using an attorney
Guard your Social Security number and other personal information to avoid this fraud: a) Spoofing b) Advance-fee fraud c) Identity theft d) Tax evasion
Identity theft
The Fair Housing Act allows landlords of apartment complexes to discriminate against some potential tenants when the tenants: a) Have children under the age of 18 b) Use drugs and endanger other tenants c) Have disabilities d) Any of the above
Use drugs and endanger other tenants
Wikipedia is an encyclopedia developed: a) Using crowd sourcing b) By hiring writers and editors c) As an online version of a popular book d) Entirely by college professors and graduate students
Using crowd sourcing
When an FDA regulated product is found to be faulty, the FDA will: a) Request a voluntary recall and help notify the public b) Pull the product off the shelves c) Issue consumer refunds d) Halt manufacture and seek charges against those responsible
Request a voluntary recall and help notify the public
If the real estate market in your community is said to be a "buyer's market," this probably means: a) There are more buyers than sellers in the market b) Buyers will bid up prices c) Sellers will command top dollar for their homes d) Sellers may have to m
Sellers may have to make price concessions to sell their homes
How many amendments are there to the Constitution? a) 10 b) 27 c) 31 d) 50
) 27
Caveat emptor is Latin for: a) Let the buyer beware b) The consumer is always right c) It's a jungle out there d) The marketplace is fair
Let the buyer beware
In legal terms, an attack on the good reputation of a person is known as: a) Assault b) Battery c) Cyberlibel d) Defamation
Defamation
A consumer product without a brand name or registered trademark is considered: a) Boutique b) Generic c) Private label d) Store brand
Generic
A death certificate legally certifies the date and place of a person's death. This certificate is issued by the: a) The funeral director b) The police department c) The county clerk's office d) The coroner
The coroner
When a product or service is sold below cost to attract new customers, it is known as: a) Loyalty marketing b) Niche marketing c) Guerilla marketing d) A loss leader
A loss leader
More Americans vote during which type of election? a) Congressional b) Gubernatorial c) Presidential d) Local
Presidential
Whose picture appears on the $50 bill? a) Benjamin Franklin b) Alexander Hamilton c) Andrew Jackson d) Ulysses S Grant
Ulysses S Grant
Which federal agency issues travel warnings for Americans planning to travel abroad? a) The Department of Commerce b) The Federal Trade Commission c) The State Department d) The Department of Homeland Security
Department of State
Which of the following classifies as a want? a) Water b) Coffee c) Shelter d) Clothing
Coffee
What is true about the National Do Not Call List and cell phones? a) You cannot register cell phones b) You can register your cell phone number c) You can only register your cell phone number if it is your primary phone d) You can register your cell phone
You can register your cell phone number
To become a naturalized citizen of the US, you must meet which of the following requirements: a) Be at least 21 years old b) Have lived in the U.S. as a legal resident for at least 10 years c) Be able to read, write, speak and understand basic English d)
Be able to read, write, speak and understand basic English
Who must register for the Selective Service? a) Men when they turn 18 b) Men and women when they turn 18 c) Men who turn 18 and do not plan to go to college d) Men and women who turn 18 and do not plan to go to college
Men when they turn 18
Which of these may be protected by a copyright? a) A book of poetry b) An improvised speech c) A calendar d) A listing of ingredients
A book of poetry
A trademark is most similar to a: a) Service mark b) Copyright c) Patent d) 501(c)3
Service mark
In a criminal or civil case, one party must prove facts which are in dispute in the case. This requirement is called: a) Burden of proof b) Statute of limitations c) Cause and effect d) Indemnity
Burden of proof
The state department of motor vehicles is part of the: a) Public sector b) Private sector c) Mutual sector d) Open sector
Public sector
If inflation is 2%, a $1 pack of gum will cost this much in one year: a) $1.02 b) $0.98 c) $1.20 d) $2.00
$1.02
To "expunge" something from a court record means to: a) remove every reference of it from the court file b) file the court record with the court administrator c) rule on a case d) restate the testimony of a witness
remove every reference of it from the court file
Department of Housing and Urban Development
Federal agency responsible for promoting community development and homeownership
Fair Housing Act
Federal law that bans discrimination in housing based on race, gender, disability, national origin, or religion
Disability housing accommodation
A change in rules, policies, services, or practices to give people with disabilities access to dwellings suitable for their needs
Protected class
Group of people protected from discrimination by federal law
Lead Disclosure Rule
Federal law requiring the disclosure of lead-based paint and its hazards before selling or leasing properties built before 1978
Lease
Contract that specifies how a tenant may use rental property, and what payment is owed to the landlord
Cooling Off Rule
Federal law that allows buyers three days to cancel a purchase or service made at home or in a location that is not ordinarily a place of business
FERPA (Family Educational Rights and Privacy Act)
Federal law that prevents unauthorized access to minor students' school records without consent from parents or legal guardians
Clery Act
Federal law requiring colleges and universities that receive federal financial aid to annually disclose crimes which occur on or near campus
Title I School
School that receives federal financial assistance because the majority of its student population is considered low-income
Individuals with Disabilities Education Act (IDEA)
Federal law mandating students with disabilities receive a free and appropriate public education that is adapted to meet their needs
Department of Education
Federal agency that mandates education standards and enforces anti-discrimination laws in schools
Individualized Education Program
A plan that ensures that students with disabilities receive specialized educational services tailored to their needs
Title IX
Federal law that prohibits gender discrimination in public schools, colleges, activities, or programs that receive federal funding
Head Start
Federal early childhood education intervention program for low-income children aged birth to five that focuses on academic, social, and emotional readiness for elementary school
TANF (Temporary Assistance for Needy Families)
Government program which assists impoverished families in becoming self-sufficient
WIC (Women, Infants, and Children)
Federal assistance program designed to provide nutritious food and food education to low-income women, pregnant women, infants, and children up to age five
Department of Health and Human Services
Federal agency responsible for protecting public health and providing essential social services
Supplemental Nutrition Assistance Program (SNAP)
Federal program that provides nutrition assistance to low-income people and families and economic assistance to communities
Medicaid
Joint federal and state program that helps with medical costs for some people with limited income and resources
Early Childhood Education
Schooling for children ages 5 and younger with a focus on social, emotional, and academic readiness
Voting Rights Act
Federal law that banned racial discrimination in voting
Civil Rights Act
Federal law that prohibited discrimination based on race, gender, national origin, color, or religion, and provided equal access to employment opportunities
Department of Justice
Agency responsible for enforcing federal laws and protecting the public from threats both domestic and foreign
Incumbent
An elected official who already holds a political position and runs again for reelection
Constituent
A person who resides or works in a location represented by a politician
National Voter Registration Act
Federal law enacted to make registering to vote and maintaining voting registration easier
Supreme Court
The highest federal court in the U.S.
Department of Labor
Federal agency that promotes the welfare of workers, job seekers, and retirees
Unemployment insurance
Monetary payments made to workers who have lost their jobs and meet certain eligibility requirements
to be neutral
The BBB doesn't endorse or recommend specific businesses to consumers. Why?
housing
average American consumer spends the most money on this item
affidavit
a sworn written statement of facts & circumstances signed by the author
right to dispute; more rights
benefit of using a credit card online
Dept of Labor
federal agency that investigates workplace harassment
OSHA
office within the Dept of Labor that insures safe and helpful working conditions
nothing; there are no restrictions for kids working on parents' farm
13 year old works on parents' farm, the Fair Labor Standards Act restricts them from what?
2
number of chambers in US Congress
Emergency Alert System
this is a test, this is only a test
Dept of Ed
federal agency that determines educational standards and laws
cost of item per unit of measure
information on unit pricing provides
better buy
unit pricing helps make good consumer choices because it helps determine the
must consider storage or spoilage
both products similar in quality...why not always better to buy the better unit price?
popup shops
shops that open at specific times of the year, like Halloween and Christmas
Magnuson-Moss
federal law enforced by the FTC that requires sellers to make warranty information available to consumers before purchase
tobacco products, obscene/inappropriate products
federal law prohibits these types of products/services from being broadcasted
Equal Credit Opportunity Act
A law that protects consumers from discrimination in the granting or denying of credit
seatbelt
the NHTSA says that over 27 million people fail to use this
free trade
reduced trade restrictions with other countries
allows you to pay an average amount monthly in order to avoid spikes in your bill caused by seasonal changes
what is a budget billing plan?
forever
A US $10 bill over 100 years old is still worth face value for how long?
form/join unions and collectively bargain
2 rights established by the National Labor Relations Act
Federal Election Commission
federal commission administers public funding for national elections
presidential nominees of each major party
What candidates are eligible for public funding in the general election?
profit
money a company has left after paying operating expenses
ATF (Alcohol, Tobacco and Firearms Bureau)
federal agency that protects the public from violent crimes involving explosives or the illegal distribution of alcohol
Miranda Rights
legal statement that protects the suspect if he/she chooses not to provide answers
buyer beware
the Latin statement that means for the purchaser it's "buyer beware
19th
Amendment that gave women the right to vote
You pay 95 cents to get five compact discs when you join a record clu Other charges you might expect to occur would be:
postage and handling costs
You want to teach children with disabilities. Typically you will need a college degree in:
Special Education
What landmark 1950s Supreme Court case made it illegal for public schools to discriminate based on race?
Brown v Board of Education; Brown v Board of Education of Topeka
How is eligibility for Head Start determined?
Using poverty guidelines established by the federal government
The Secretary of the Department of Housing and Urban Development is a cabinet-level position in which branch of government?
Executive
The Fair Housing Act was signed in 1964 by which President?
President Lyndon B. Johnson
Your apartment complex does not allow pets, but allows your neighbor's service dog. Why?
Service animals are an accommodation protected by federal housing laws
What federal law bans discrimination in the sale or rental of a home?
Fair Housing Act
What is one goal of the TANF program?
Encourage maintaining a two-parent household; reduce number of out-of-wedlock births; promote job readiness; assist needy families
What federal agency administers policies related to WIC?
USDA; Department of Agriculture
The FDA and CDC are both agencies under this federal department
US Health & Human Services
What electronic payment system gives SNAP recipients access to funds using a special debit card?
Electronic benefits transfer
This federal healthcare program provides coverage for low-income children whose parents do not meet qualifications for Medicaid
Children's Health Insurance Program (CHIP)
Name the federal early childhood education program that serves pregnant women and children from birth up to age 3
Early Head Start
Banned with the passage of the Voting Rights Act, what fee can no longer be charged to vote in any U.S. election?
Poll tax
Federal law forbids employment-based age discrimination against those this age or older:
40
Appointed in 1993 by President Bill Clinton, who was the first woman to serve as Attorney General of the United States?
Janet Reno
What type of election is held to replace an elected official who dies, resigns, or is impeached while in office?
Special election
In political terminology, what is a delegate?
A person chosen to represent their city or state at a national political convention
This monetary sum is like a down payment, and protects the landlord against damages when the tenant moves out:
Security deposit
You may file a complaint with this federal agency if a seller has violated the Cooling Off Rule:
FTC; Federal Trade Commission
A 17-year-old high school student takes classes at a community college. Who may see the college report card without the student's consent?
No one, unless you (the student) gives consent.
What is the Clery Act (1990) ?
A federal law that required university to disclose statistics on crime and security
Universities that violate the Clery Act can be subjected to fines imposed by which division of the Department of Education?
Office of Civil Rights
Name one way federal funds are used to support Title I schools:
Provide teachers; materials; summer programs; after school programs; support in reading and math
In order for students to receive special education services they must have an IEP. What does IEP stand for?
Individualized Education Program
Independent agencies validate colleges and universities. What is this process called?
Accreditation
What federal agency issues travel advisories?
Department of State
When two parties compromise on a shared decision, this process is called
Negotiation
What U.S. agency enforces federal policies about discrimination in the work place?
The U.S. Equal Employment Opportunity Commission (EEOC)
A crook who goes "dumpster diving" is probably looking for:
Personally identifying information
To avoid surprise charges for vacation travel:
Get the deal in writing first before making any payments
If a judge allows a defendant's attorney to enter certain evidence into trial, the evidence is said to be:
Admissible
A store's refund policy should be:
posted in a visible place
A responsibility of the Environmental Protection Agency is to:
set standards for automobile exhaust emissions
When you buy a car "as is" it means...
The seller has no legal responsibility
Under the Fair Credit Reporting Act, a credit bureau is required to conduct an investigation if:
you claim their information on you is incorrect
The consumer is protected by the:
Consumer Leasing Act
Before enrolling in a career or vocational school, it is best to:
call the FTC's regional office for accreditation information
You buy a CD from an online record company for $5. Another cost you might expect to incur is:
postage and handling costs
The FTC enforces:
Federal antitrust laws; Federal consumer protection laws
Garage sales and flea markets can be interesting places to shop. When purchasing used products, the consumer must remember:
they may not meet current safety standards
Security at large US airports is now provided by:
Federal government employees
Toys often require batteries to operate them. When the toy that needs batteries is advertised, the seller should:
disclose in the ad that batteries are required
Using the metric system, which unit would be used to measure length?
Meter
When buying a TV, you look at different makes and models. The warranty on the TVs:
may be different
Of the following actions, which would be most likely to lead to identity theft?
Giving out one's social security number
What does FTC stand for?
Federal Trade Commission
Advertisements with words such as "quick and easy", "fast profits", "no risk", or "secret plan" are probably:
deceptive
The Truth in Savings Act requires that fee information is disclosed to you:
Before you open an account and Periodically
OSHA is part of which federal agency?
US Department of Labor
When can a consumer or business submit a fax Opt-Out notice to stop a company from sending unsolicited advertisement?
24 hours a day, 7 days a week
If the number of exports exceeds the number of imports, a country would say its trade balance is:
Favorable
The federal government's Consumer Sentinel reports about fraud trends. What did the Sentinel report about fraud in the year 2013?
More fraud reports were made about internet scams
In absolute numbers, which region or country has the most undernourished people?
India
28 grams is about the same as:
One ounce
If you buy something by telephone, how many days do you have to cancel under federal law?
None
If an older man needs care giving assistance to be able to stay in his own home, demographics tell us the family member most likely to care for him is?
His wife
If you have your identity stolen you should file a police report because:
Your creditors may require a police report
It is against federal law for a radio station to broadcast indecent programming:
...
Consumer spending can best be described as:
Demand for goods and services
The largest category of WIC participants is:
Children
If a person has a continuing unresolved complaint against an insurance company, the best level of government to contact is:
state
Divorces and real estate contracts are regulated by what type of laws?
Civil laws
Forty percent of all shopping rebates:
Never get redeemed by consumers
What is true about state and federal do-not-call lists?
No states are sharing information; you must register for both lists to be sure you are covered
Name the federal agency that provides coins and currency to local banks. Is it:
The Federal Reserve
Since 1996, what information is required to appear on a faxed document?
Phone number, date, and time
Your eye doctor changes your prescription for glasses. Under the FTC Eye Glass Rule the eye doctor:
can charge you for a copy of the prescription
A supplement or addition to a will is called a what?
Codicil
An initial fraud alert stays on your credit file for how long?
90 days
At the most fundamental level what economic principle determines stock prices?
Supply and demand
Buying a product on the spur of the moment is called:
Impulse buying
Care labels may be found on what consumer products?
Clothing
How long does a Supreme Court Justice serve?
For life; until the justice resigns, dies, or is impeached
How many justices serve on the U.S. Supreme Court?
9
How many micrometers are in one meter?
One million
How much a product costs per unit of measurement is usually referred to as:
The unit price
How often is the Consumer Price Index calculated?
Monthly
How would the U.S. figure its balance of trade?
The difference in value between its imports and exports
If you see such terms as "windfall" "secret," and "overnight success," in advertisements, how should you react?
Cautiously; skeptically; avoid those products or services
In a market economy
who makes spending choices? , Consumers
In political terms
what is a lame duck? , A politician who will not be returning for the next session
In the US
the President is elected how often? , Every four years
In this type of scam many losers pay a few winners, and the emphasis is on recruiting new members rather than selling products:
Pyramid scheme
Is a loaf of bread a good or a service?
A good
Many states observe President's Day in February to specifically honor which two presidents?
George Washington and Abraham Lincoln
Name one common place you can find coupons?
Online, mail, newspapers
Name one place you can register for the Selective Service.
Any U.S. post office; U.S. embassy; U.S. consulate; SSS website; on your FAFSA form; at high school
Name two types of discrimination prohibited by the Civil Rights Act of 1964.
Race; color; religion; sex; national origin
Needed for travel outside the country
what document proves proof of U.S. citizenship? , Passport
On a school night under federal law, what is the latest a 14- or 15-year-old can work?
7:00 p.m.
One kilogram is equivalent to approximately how many pounds?
2 pounds (2.2 lbs)
Persons who receive the proceeds of another person's estate at death are called?
Heirs; beneficiaries
Shoplifting has what effect on consumer prices?
It increases them
The Bill of Rights is composed of what?
The first ten Amendments of the US Constitution
The central bank in the US is better known as the:
Federal Reserve System; Federal Reserve Bank
The Congress has passed a bill. The President refuses to sign the bill to become law. This presidential action is called:
Veto
The deliberate destruction of property is called:
Vandalism
This corporation protects depositors' funds in the event of the financial failure of their bank or savings institution:
Federal Deposit Insurance Corporation (FDIC)
Under the Family and Medical Leave Act
employees are entitled to up to 12 workweeks of unpaid leave a year for four situations. Name two: , Birth of a child; adoption of a child; caring for an ill family member; when the employee has a serious illness
What do primary elections decide?
A political party's candidate for an elected office
What does the acronym FDA stand for?
Food and Drug Administration
What is a Miranda warning?
It advises people of their constitutional rights (to remain silent, to have an attorney, etc) upon arrest
What is price gouging?
Pricing above the market price when no alternative seller is available
What is the legal drinking age in the US?
21
What is the term for "a person who informs on another in order to make public evidence of corruption or wrongdoing?
whistleblower
What marketing term describes a graphic design element (such as a name symbol or trademark) to represent a product?
A logo
What process allows the Supreme Court to decide if a law or government action violates the Constitution?
Judicial review
When you make a major purchase
the manufacturer's promise to stand behind the product is commonly known as the:, Warranty
Which economic law states that as the price of a good or service increases
consumer desire for the good or service will decrease? ,Demand
Which two countries border the U.S.?
Mexico and Canada
Which type of dispute resolution involves a third party that doesn't make a decision requiring the two parties to reach an agreement?
Mediation
Who sets the return policies offered by stores?
The stores; the owner
You often see "MSRP" next to the price of certain items. What does MSRP stand for?
Manufacturer's Suggested Retail Price
On US money what does "e pluribus unum" mean?
One out of many; out of many, one,
A legal document used when renting an apartment is called what?
a lease
to reduce the number of telemarketing calls you receive, register for this
National Do Not Call List
home mortgage has high interest rate compared to today's market rate; what should you do?
refinance your loan
making an economic decision to postpone a reward
delayed gratification
how do impulse purchases impact your budget?
ruin a budget; have to adjust budget after impulse purchase
in a formal decision-making process, what is the first step?
identify the problem/goal
Of public safety standards, public health statistics, and income inequality, which could be considered part of a nation's standard of living?
income inequality
economic concept based upon the idea that supplies are limited and wants are unlimited
scarcity
the 3 core federal antitrust laws in effect today
The Sherman Act
Federal Trade Commission Act
Clayton Act
BBB is funded by
its members
You visit a local restaurant and don't think the kitchen looked sanitary. Who should you complain to?
local or state health dept.
When choosing an escrow service to make an online auction purchase, you should make sure it's legitimate by checking to see if it is
licensed and bonded
Under state lemon laws, the financial responsibility for fixing a car that has been determined to be a lemon rests with
the auto manufacturer
People injured by a defective product may seek damages from the manufacturer. The manufacturer's responsibility is called
product liability
To sue your landlord because she unjustly kept your security deposit, you would file in this court
small claims court
main difference between internship and apprenticeship
apprenticeships lead to job at the end of the training period; most internships are temporary
Which of these do not belong in the same career cluster: Hospitality, Food and Natural Resources, Agriculture
Hospitality
CFP after a person's name signifies that they have achieved what professional credential
Certified Financial Planner
T or F: According to US labor laws, an unpaid intern cannot be used to replace paid staff.
T
T or F: At-risk young adults who have mentors are more likely to pursue college
T
Person with more experience and a higher position is said to have
seniority
time management is the ability to control and plan your time in order to accomplish your
goals
persons required by law to register with Selective Service must do so within how many days of their 18th birthday?
30
a person dying without a will is
intestate
document that expresses your health care wishes if you become incapacitated
living will
with which type of account is power of attorney given to securities brokers to buy and sell on your behalf
discretionary account
usually the legal age to sign a contract
18
money paid to a former spouse
alimony
which is considered confidential & not a public record: tax filings, court records, birth certificate?
tax filings
What dept enforces the Fair Labor Standards Act?
Dept of Labor
fraudulent acquisition and use of someone's personal info, usually for financial gain
identity theft
what is a mugu
a victim of advance-fee fraud
stealing credit card numbers by using a special storage device when processing your card
skimming
identity theft victims are entitled to a free copy of what report
credit report
the fraudulent practice of adding unauthorized charges to a customer's phone bill
cramming
the activity of defrauding an online account holder of financial info by posing as a legitimate company
phishing
How does the promoter of the pyramid scheme make money?
by recruiting new people to join
an illegal technique to get buyers to purchase more expensive items by luring them in with cheaper products
bait and switch
BOGO
buy one get one
if a seller does not specify a time frame for receiving a rebate, federal law requires you receive the rebate within how many days?
30
the application of commercial marketing techniques to social problems
social marketing
these plain label products do not have a brand name
generics
when the sender of an email is incorrectly identified, usually for fraudulent purposes
email spoofing
store marks a popular item at an unusually low price to attract customers to the store; the low priced item is a
loss leader
in the law, which Latin term means "buyer beware"?
caveat emptor
federal agency established in 1915 and charged with keeping American business competition free and fair
FTC
country imports more than it exports
trade deficit
total market value of all goods and services produced in a country in a given year
GDP
business cycle stages
growth, peak, recession, trough, recovery
price of a new car without options, but with standard equipment and a factory warranty
base price
people who buy & use products
consumers
minimum length of a lease needed for the Consumer Leasing Act to apply
4 months
person who violates the terms of a lease on an apt can be removed through the process of
eviction
agreement that increases the purchase price, is rarely worth the cost, and is frequently available when you purchase a car or large appliance
extended warranty
a right given to a lender over a borrower's property or money when the borrower cannot pay a debt
lien
instead of using the courts, when 2 parties agree to have another person listen to their arguments and make a final decision
arbitration
type of implied warranty that dictates that the seller promises that the product offered for sale will do what it is supposed to do
warranty of merchantability
the cancellation or "unwinding" of a contract
rescission; rescinding
president to first outline the Consumer Bill of Rights
John F Kennedy
if contract is cancelled, it becomes free of all legal effect, or is said to be
null/void
voting age
18
a person younger than the age of majority and is not considered an adult
minor; juvenile
person who investigates and settles insurance claims
adjuster
current chief justice of Supreme Court
John Roberts
entire study of law and legal philosophy
jurisprudence
If a country has a favorable balance of trade, what does this mean?
the country has a surplus; it exports more than it imports
meaning of the term "laissez faire
government should not interfere in commercial/business affairs
consumers may request that people stop spamming them thanks to this federal law
CAN-SPAM Act
the reason a person commits their crime
motive
the purpose of the government program known as Superfund
to clean up toxic waste sites around the country
the rules that govern the management of an organization
bylaws
legal term codicil means
an amendment to a will; an addition or correction to a will
amendment that guards citizens from unreasonable search and seizure
4th
employees may be required or scheduled to work overtime hours if the employee is at least __ years old
16
round-up billing: call lasting 4 mins 12 sec will be billed for how many minutes
5
fed organization enforces laws regarding job discrimination
Equal Opportunity Employment Commission
overtime pay is ___ times regular rate of pay
1 1/2
Supreme Court Justice that said privacy is "the right to be let alone
Justice Louis Brandeis
the process of proving to a court that a will is genuine
probate
request by a customer that a company not share his/her info with another party
opt out
net flow of goods between 2 countries
balance of trade
business that puts together your credit file and makes it available to lenders, insurance companies, and potential employers
credit bureau
to remedy or set right a consumer problem
redress
concept that consumers should exercise their rights and be able to spot and avoid fraud and deception
consumer protection
charge included in most lease transactions that either is paid up front or is included in the cost
acquisition fee, administrative fee, assignment fee, bank fee
federal tipped minimum wage
$2.13/hour
federal law that regulates the use of credit reports, requires the deletion of obsolete information, and gives you access to your credit file
Fair Credit Reporting Act
# of justices on Supreme Court
9
branch of govt that passes laws
legislative
2 year college that offers an associates degree
community/junior college
federal agency that regulates long distance service
FCC - Federal Communications Commission
overtime must be paid to wage earners after __ hours in a week of work
40
US Representatives run for re-election every __ years
2
Consider the global market for cotton. If the US government increases its subsidies to cotton farmers, what effect does this have on the amount of cotton grown in the US?
it increases
label on a product says EPC...what does EPC stand for?
Electronic Product Code
When you start a new job, your employer has you complete which tax form to note the amount of federal income tax you want deducted from your salary?
W4
four-letter acronym for the organization consisting of the world's major oil-exporting nations
OPEC
fed agency that enforces the Cooling Off Rule
FTC
under the statute of limitations, how long does the IRS have to audit your tax return
3 years (6 years if you underreported your gross income by >25%)
who selects the chairman of the FDIC
President of the US
term to describe actions taken to reduce government power in a particular industry, usually to create more competition
deregulation
In the US, what level of government has the power to print money?
Federal
At what temperature Fahrenheit does water freeze?
32 dregees
This federal agency goes by the acronym FDIC
Federal Deposit Insurance Corporation
The US Armed Forces include five branches. Name two of them
Army, Navy, Air Force, Marines, Coast Guard
What federal agency offers detailed guidelines to help companies write clear and legal warranties?
FTC; Federal Trade Commission
Trademark protection lasts how long?
Forever
You see a news report that ABC Company is "reorganizing." What does this mean?
Filing for bankruptcy
The act of creating a false document or writing a false signature for an illegal benefit is what crime?
Forgery
A business that has complete control of the market for a product or service is called a
Monopoly
Under the metric system, meters refer to distance and grams refer to
Weight
Stealing merchandise from a store is known as
Shoplifting
Each automobile has a unique VIN. VIN is an acronym for
Vehicle Identification Number
A lawsuit begun by one or more persons on behalf of a larger group of similarly affected people is called a
Class action
Turmoil in the Mideast causes an oil shortage. What will this do to the prices for gasoline in the US?
Prices will go up
You need to buy a new refrigerator, but first you look at several alternatives to make sure you get the best price. What is this process called?
Comparison shopping
When one product is advertised with the intent to sell the consumer a more expensive model, this is called
Bait and switch
To whom do wholesalers sell goods?
Retailers
What is prepaid plastic to spend at a specified store called?
Gift card
This rule allows you to cancel some types of purchases during a 3-day period.
Cooling Off Rule
You can check this agency, called the BBB, for a business' consumer complaint record
Better Business Bureau
Which federal agency is charged with coming to the public's aid in times of disaster?
FEMA; Federal Emergency Management Agency
If the average price of goods and services is increasing, this is known as
Inflation
What is the symbol, carried by most packaged items for sale, that can be scanned at the cash register?
UPC; Universal Product Code; bar code
A person who purchases or uses a product or service is called a what?
Consumer; customer
The communication of product information to the consumer, in order to increase buying demand, is commonly called
Advertising
A tariff is imposed on what type of good?
Imported goods
After the US census is taken, some states must redraw their legislative district boundaries to reflect population shifts. What is this called?
Redistricting
Retailers collect sales taxes and pass it on to this entity
State government
A measure of a nation's productivity and economic progress is the GDP. What does GDP stand for?
Gross Domestic Product
Explain how fake check scams work:
Con artists trick consumers into accepting worthless phony checks or money orders, then wiring some of the (real) money back to the scamer
Name one thing you should do immediately if you are victim of a fake check scam:
Contact your bank; explain that you've been scammed and request that no negative actions be taken against you; file a report with the police; contact the FTC; contact the U.S. Postal Inspection Service
Why does the U.S. Postal Inspection Service take an interest in protecting consumers from fake check scams?
When a scammer sends a fake check through the mail, they are committing mail fraud; the Postal Inspector is responsible for enforcing federal laws against mail fraud
The federal government agency that provides policy on food, agriculture, and rural development
USDA; U.S. Department of Agriculture
This federal registry allows consumers to limit the telemarketing calls they receive
National Do Not Call Registry
The concept that provides for counterbalancing influences to regulate a system, a founding principle of our constitutional government
Checks and Balances
The federal agency that manufactures and distributes coins for circulation
U.S. Mint
The process of removing or reducing government regulations
Deregulation
The central banking system of the Untied States, also divide into twelve districts
The Fed; Federal Reserve Bank
Th federal rule that provides consumers three days in which to cancel certain transactions
Cooling Off Rule
A tax or duty to be paid on a particular class of imports or exports
Tariff
Enforced by the FTC, this law requires manufactures to attach labels to clothing wit instructions for its care and cleaning
Care Labeling Rule
Directed by Richard Cordray, this federal agency oversees financial products and services offered to consumers
CFPB' Consumer Financial Protection Bureau
In retail selling, what does the term BOGO mean?
Buy one, get one
Under the Fair Credit Reporting Act, what are credit Bureaus required to do regarding inaccurate information in your credit report?
Credit bureaus are responsible for correcting any inaccurate information in your report
There were only 14 states when it was passed in 1791, and it was ratified by all 14 state legislatures, What term is used to describe the first ten amendment to the U.S. Constitution?
The Bill of Rights
Named after an Austrian architect, the term "Gruen transfer" describes the moment shoppers walk into a mall, and due to the mall's intentionally confusing design, do what?
Lose track of their original intentions; forget what they came in to buy; buy things they didn't intend to; become impulse buyers
Every year, Daylight Savings Time begins at 2:00 AM on the second Sunday of which month?
March
Which federal agency runs the Consumer Sentinel, where fraud data is collected from law enforcement agencies around the world?
FTC; Federal Trade Commission
You join an on-demand video site, which comes with a free 30-day trial. When you sign up, you enter your credit card number, and f you don't opt out after 30 days, you'll be charged for the service. What is this form of marketing called?
Negative option
What is the purpose of a primary election?
To select a political party's candidate for an elected office; to determine the candidates that will run in the general election
What must happen before your wages can be garnished?
You must be summoned to court; a debt collector obtains a court order; there is a judgment ruled against you in court
Which level of govt oversees Navy, Army
federal
Which govt branch makes laws
legislative
If you approach the cash register and an item rings up for a different price than you expected, you should:
ask for the cashier to check it
providing the price before the purchase
disclosure
multiple suppliers in a free market
competition
Andrew Wheeler is the current administrator of this agency, known as the EPA
Environmental Protection Agency
After interview, you should send a thank you note within __ days
2
When applying for a passport, name 2 things you need
birth certificate/proof of citizenship, photo ID, 2 pictures, a completed passport application
If you receive merchandise you never ordered, you can
keep it as a free gift.
If you place an order and the delivery date is not specified, the item must be delivered within __ days.
30
agency in charge of safety standards
CPSC: Consumer Product Safety Commission
ensures privacy of medical records
HIPAA: Health Insurance Portability & Accountability Act
bcc: on an email is used to conceal the identity of a recipient and stands for
blind carbon copy
person that counsels or assists you during college
adviser
work program that includes part-time employment during college
work study
This amendment gave 18 year olds the right to vote
26th
You will pay this if you receive an inheritance of over $5 million
estate tax
company that provides your cell phone service
carrier
After you call the credit reporting agency, why should you follow up a call to report identity theft?
to document the date it was reported
country that is largest ad market in the world
USA
economic term describes when a consumer makes a decision between 2 alternatives
choice
these ppl buy goods/services to meet their wants
consumers
we see 4,000 to 10,000 of these per day
ads
How does advertising benefit businesses?
increase sales, draws consumers
1 way advertising benefits consumers
informs them about product/service
tactic used by business to build a "brand personality
logo or slogan
famous person speaking positively about a product/service
celebrity endorsement
30-minute long advertisement
infomercial
most watched sporting event and therefore very expensive advertising cost
Super Bowl
license authorizing banks to operate
charter
notify this agency if your telephone carrier was switched without your permission
FCC
you have the capacity to sign a contract at this age
18
signs a contract with you and agrees to be bound by it as well
cosigner
# of days seller has to refund your money if can't ship by deadline
7
FMLA allows a max of __ weeks leave
12
choose work hours to benefit yourself/family
flextime
name 2 soft skills
leadership, communication, tact, conflict mgmt, friendly, ethical
TSA
Transportation Security Administration
2 words used to describe info from media as a type of yellow journalism or propaganda that consists of deliberate misinformation or hoaxes spread via traditional print and broadcast news media or online social media.
fake news
HIPAA ensures
privacy of medical records
FMLA
Family Medical Leave Act
worker could take FMLA for this
maternity, adoption, sick family member
longest leave under FMLA
12 weeks
newest: HIPAA, FMLA, ADA
HIPAA
Base price
Cost of a vehicle with standard equipment; no options or upgrades
Book value
Estimated market or trade-in worth of a used vehicle as published in a guide by Kelley Blue Book, NADA, or Edmunds
Extended warranty
Service contract that provides for no or low cost vehicle repair, after the factory or dealer warranty expires
FTC Used Car Rule
The rule that requires all used car dealers to place a "buyer's guide" in a conspicuous place in each used vehicle they offer for sale
Factory warranty
Promise by the vehicle manufacturer to repair or replace defective components for a specific period of time
Invoice price
Approximate price the dealer pays the manufacturer for a vehicle
Lemon laws
These state laws protect buyers when vehicles have serious defects
Monroney sticker
A window sticker, required by law to be placed on every vehicle, includes information such as MSRP and fuel economy
NHTSA
National Highway Traffic Safety Administration; the federal agency dedicated to achieving the highest standards of excellence in motor vehicle & highway safety
Recall
When a safety defect is discovered, the manufacturer is required to remedy the problem at no charge to the owner
Registration
Legally recording ownership of a vehicle with a government agency for tax & licensing purposes; the registration certificate is carried in the vehicle
Document that shows legal ownership of a vehicle
Title
VIN
Vehicle Identification Number; a unique code used by the auto industry to identify/track each vehicle manufactured
TRUE OR FALSE? When buying a vehicle, one of the most important parts of getting a "good deal" is making sure the monthly payments are affordable.
FALSE - a "good deal" is based on negotiating the total vehicle price
TRUE OR FALSE? When buying a vehicle, begin your negotiations with the invoice price.
TRUE
TRUE OR FALSE? Once you have decided on the vehicle you want to purchase and have negotiated the price, go to the bank or credit union to discuss financing.
FALSE - do this before you enter a dealership
TRUE OR FALSE? Focusing only on the monthly payment could result in paying too much for a vehicle.
TRUE
TRUE OR FALSE? When a trade-in is part of a vehicle purchase, the dealer will offer the best price for the trade-in because they want to make a sale.
FALSE - always check book value
TRUE OR FALSE? The invoice price tells exactly what the dealer paid for the vehicle.
FALSE - they could have received incentives or some other purchase program but the invoice gives a good indication of the approximate cost
TRUE OR FALSE? The consumer does not buy cars every day, but they do have the most important negotiating "tool.
TRUE - the most effective bargaining tool is the 180-degree turn and walk away!
TRUE OR FALSE? Purchasing a used car can save the consumer an average of 25% in overall ownership & operating costs.
FALSE - the savings are larger! A used car can save the consumer 50% of those costs.
TRUE OR FALSE? One should investigate insurance costs before making a final decision to purchase a vehicle.
TRUE
TRUE OR FALSE? One of the first steps in the vehicle buying process is to discuss the amount of your monthly payments with the salesperson.
FALSE - only after negotiating the final price do you discuss monthly pmts
TRUE OR FALSE? When buying a used vehicle, it saves money for the consumer to request that the dealership give the car a thorough inspection before the sale is complete.
FALSE - use an independent source to get a non-biased assessment
TRUE OR FALSE? The largest cost factor when owning a new vehicle is depreciation.
TRUE
TRUE OR FALSE? The Federal 3-day Cooling Off Rule applies to new, not used, vehicles.
FALSE - does not apply to any vehicle; applies to home purchases
TRUE OR FALSE? Invoice price and base price are identical.
FALSE - invoice is manufacturer's price to dealer; base is price of vehicle with standard equipment (no options or upgrades)
TRUE OR FALSE? Lemon law is a mandated federal standard that outlines a consumer's rights when a vehicle has a unique problem that does not respond to repair.
FALSE - determined by federal and state levels
When a person dies, this legal document gives the date/cause of death.
Death certificate
In the federal government structure, this person is in charge of the executive branch.
President
It is illegal for a person to be married to more than one person. This is called ___.
Polygamy
Enforced by the FTC, the Mail or TelephoneMerchandise Rule requires that merchants ship goods within 30 days or inform the customer of delays and their right to cancel the order due to delays
30 Day Rule
Used to determine if a user is human, consumers decode distorted images of letters and numbers to gain entrance to a password-protected site
CAPTCHA
Contrasting features and prices of a product before purchasing
comparison-shop
Promotions for online purchases that allow the consumer to save money on the purchase or the shipping costs
coupon codes
Card Verification Value, numbers located onthe back of a credit card used for security and identification
CVV Code
Making E-commerce transactions with a digital device such as smart phone or computer
digital wallet
The cost of an item fluctuates frequently based on a variety of marketing factors
dynamic pricing
Sales, transactions, refunds and other business performed online
E-commerce
Online stores
E-mall
FTC, Agency with the mission of protecting consumers and preventing fraud, deception, and unfair business practices in the marketplace
Federal Trade Commission
Hypertext Transfer Protocol Secure, this abbreviation appears in the search bar to indicate the transmission of data is secure
https://
Automated digital program, activated by a consumer that informs when an items reaches a price point
price alert
Procedure, timeframe and potential cost of returning merchandise
return policy
indicates data encryption for safety and is indicated by the search bar turning green, a padlock appearing in the search bar, and the prefix http changing to https
SSL Secure Sockets Layer
Business days allowed in the FTC Cooling-off rule
3
minimum voting age established by the 26th Amendment
18
number of people on a grand jury
23
maximum hours allowed in a week before overtime pay applies
40
used to trace phone calls
*57
number synonymous with advance-fee fraud
419
number of voting representatives in the U.S. House
435
prefix indicating a toll-free number
800, 877, 888
emergency services telephone number
911
year President Kennedy introduced the Consumer Bill of Rights
1962
Which one of the following jobs is not exempt from the child labor provisions of the federal Fair Labor Standards Act? a) Performing in movies and theatrical, radio and television productions b) Restaurant work c) Newspaper delivery
Restaurant work
What federal agency is known as the DEA
Drug Enforcement Agency
If a person is younger than the age of majority and is not considered an adult, they are a:
Minor; juvenile
What is probate?
The process of proving to a court that a will is genuine
To remedy or set right a consumer problem is known as:
Consumer redress; redress
The concept that consumers should exercise their rights, and be able to spot and avoid fraud and deception, is called:
Consumer protection
If a contract is cancelled, it becomes free of all illegal effect, or is said to be:
Void; null
Federal law says the latest time a telemarketer may call you is:
9:00 PM
Which federal law goes by the acronym ECOA?
Equal Credit Opportunity Act
When you buy a pre-paid phone card at the store, the store: a) Is responsible for the quality of service you receive b) Can give a refund on partially-used cards c) Is in competition with other long-distance companies d) Has sold you a service, not a prod
Has sold you a service, not a product
Anyone who wants to use the UPC system must apply for rights through the: a) Federal Trade Commission b) Food and Drug Administration c) Uniform Code Council d) United Nations
Uniform Code Council
Which of the following ads is an example of an "ad hominem" persuasion technique? a) "This politician has made wrong choices, can we trust his beliefs?" b) "It's Valentine's Day, have you bought your special someone flowers?" c) "Our cologne can make you
This politician has made wrong choices, can we trust his beliefs?
You go to a local store because you find a great price in their ad. Once at the store, the clerk tries to sell you a more expensive item. This describes which sales tactic? a) A ponzi scheme b) Bait and switch c) Upselling d) Marketing
Bait and switch
Periodically your credit card sends you a travel book and bills you for it, unless you proactively say you do not want it. This is what type of marketing? a) Behavioral b) Ambush c) Integrated d) Negative option
Negative option
US Senators are elected by: a) A majority of the popular vote b) A plurality of the popular vote c) A minority of the popular vote d) The state legislatures
A plurality of the popular vote
Which of the following is not true about the Commissioners at the Federal Trade Commission? a) Commissioners are appointed by the President b) Commissioners are confirmed by the Senate c) No more than three Commissioners can be of the same political party
Commissioners serve terms of 4 years
You want to buy your first house. Which type of financial firm makes mortgage loans? a) Thrift institutions b) Trust companies c) Credit counseling agencies d) Credit bureaus
Thrift institutions
You want to sue your landlord because you think she unjustly kept your security deposit. You file in: a) Appeals court b) Criminal court c) Small claims court d) Federal court
Small claims court
Products designed for sale in a specific chain of stores are known as: a) Generics b) Name brands c) National brands d) Store brands
Store brands
The first step in resolving a consumer complaint is to: a) Call corporate headquarters of the company and demand your money back b) Complain to all your neighbors and give the company a bad name c) Contact a sales person or customer service representative
Contact a sales person or customer service representative
A written, sworn statement of a witness that can take the place of court testimony, is: a) A codicil b) An oath c) A brief d) A deposition
A deposition
When legislation is formally introduced in Congress it is known as: a) A bill b) A law c) An act d) An amendment
A bill
State laws that help provide a remedy for consumers who buy cars of poor quality or performance are associated with: a) Lemons b) Limes c) The color blue d) Slugs
Lemons
A person in which racial group is most likely to be a registered voter? a) White b) Black c) Hispanic d) Asian
White
Which of the following agencies does not report directly to the Secretary of Homeland Security? a) The U.S. Coast Guard b) The Transporation Security Administration c) The Secret Service d) The U.S. Department of Justice
The U.S. Department of Justice
By law, once you report the loss or theft, you have no further responsibility for unauthorized charges made to your credit card. In any event, what is your maximum liability under federal law per card? a) $50 b) $100 c) $250 d) You are liable for all char
$50
Which president signed into law the bill creating the Department of Labor? a) President Jimmy Carter b) President Franklin Roosevelt c) President Theodore Roosevelt d) President William Taft
President William Taft
Which of the following is not another name for a "store brand"? a) National brand b) House brand c) Private-label brand d) Generic brand
National brand
SNAP benefits may not be used to purchase: a) Meat b) Plants and seeds c) Alcohol d) You can buy all of these with food stamps
Alcohol
If a minor child is freed from the controls of his parents, and allowed to live on his own or under the control of someone else, the minor is said to be: a) Committed b) Endorsed c) Cessated d) Emancipated
Emancipated
Fifty percent of SNAP recipients are: a) Disabled b) Children c) Elderly d) Retired
Children
What is "Consumer Sentinel"? a) A governmental agency b) A database available to hundreds of law enforcement agencies worldwide c) A e-newspaper published by the federal government d) A computer program that protects users from spam
A database available to hundreds of law enforcement agencies worldwide
The simplest and most common structure chosen to start a new business is: a) IPO b) Sole proprietorship c) Corporation d) Partnership
Sole proprietorship
Managing the nation's money supply is the responsibility of the: a) U.S. Treasury Department b) National Mint c) Federal Reserve Bank d) Federal Deposit Insurance Corporation
Federal Reserve Bank
An important federal agency goes by the acronym FDA. What do the letters stand for? a) Federal Drug Agency b) Food and Drug Administration c) Free Drugs for All campaign d) Food and Drug Association
Food and Drug Administration
Which of these is not a consumer benefit to filing a class action lawsuit? a) Gain leverage with more consumers involved b) Don't owe legal fees until the case is successfully concluded c) Choose the court that will be most sympathetic d) Strengthen a cas
Choose the court that will be most sympathetic
The privacy of e-mail messages is protected by: a) The Mail Order Rule b) Federal privacy laws c) Internet service providers d) International law
Federal privacy laws
Using marketing techniques to "sell" ideas, attitudes, and behaviors, especially to benefit individuals and society, is called: a) Stealth marketing b) Behavioral marketing c) Experiential marketing d) Social marketing
Social marketing
The EPA's Worker Protection program applies to: a) Farms, nurseries and greenhouses b) Mines and power plants c) Schools d) All commercial entities
Farms, nurseries and greenhouses
Which government agency is responsible for bicycle helmet safety? a) Federal Trade Commission b) National Highway Traffic Safety Administration c) Environmental Protection Agency d) Consumer Product Safety Commission
Consumer Product Safety Commission
Under normal circumstances, how many free credit report(s) may you get from each of the three nationwide credit reporting companies within a 12 month period? a) None b) One c) Two d) Three
One
Which is the biggest export partner of the United States? a) China b) Canada c) Mexico d) Germany
China
You've invented a new product and want to promote it. Invention promotion firms: a) Must register with the FTC b) Can charge thousands of dollars c) Are banned from advertising on TV or the radio d) Must promise to buy your merchandise
Can charge thousands of dollars
Which division of the Department of Labor makes rules regarding a heat wave? a) Wage & Hour b) Occupational Safety & Health Administration c) Office of Disability Employment Policy d) Mine Safety & Health Administration
Occupational Safety & Health Administration
You receive an email from your bank. They ask you to click on a link to update your password. Delete the email to avoid this scam: a) Spoofing b) Triangulation c) Phishing d) Pharming
Phishing
You order something by mail and no delivery date is specified. In this case federal law says it must be delivered within: a) Seven calendar days b) Ten business days c) Thirty business days d) Thirty calendar days
Thirty calendar days
A mix of advertising and entertainment that takes the form of a video game is called: a) Videomarketing b) Advergaming c) Marketeering d) Gamesmanship
Advergaming
A potential United States Attorney must be: a) Approved by the President b) Approved by the President and confirmed by the Senate c) Approved by the President and confirmed by the House of Representatives d) Approved by the President, approved by the Hous
Approved by the President and confirmed by the Senate
In the US, when are federal elections held? a) The first Tuesday in November b) The second Tuesday in November c) The Tuesday following the first Monday in November d) The Tuesday following the second Monday in November
The Tuesday following the first Monday in November
You are told you've won an international lottery, but you just need to pay taxes on your winnings first. BEWARE. This is probably a common scam known as: a) A tax scam b) A Ponzi scheme c) An advance fee fraud d) A pyramid scheme
An advance fee fraud
You are billed on your credit card for two airline tickets you did not purchase. Which of the following consumer credit laws protects you: a) The Truth in Lending Act b) The Truth in Savings Act c) The Fair Credit Reporting Act d) The Fair Credit Billing
The Fair Credit Billing Act
The Fair Debt Collection Practices Act says debt collectors may contact third parties (such as employers and family members) only in this circumstance: a) To tell them about your debt b) To get personal information about you c) To collect the debt from th
To locate you
The Second Amendment to the US Constitution guarantees: a) The right to vote b) Freedom of religion c) Protection from self-incrimination d) The right to bear arms
The right to bear arms
The new-car dealer offers you an extended warranty. This most closely resembles a: a) Service contract b) Written warranty c) Spoken warranty d) Implied warranty
Service contract
When an individual loses the right to sue in court because too much time has passed between the date of damages and the filing of the lawsuit, what period is said to have run? a) The statute of limitations b) The statute of frauds c) Strict liability d) C
The statute of limitations
There is a lake on the privately owned property next door. Your friend suggests you sneak over at night and fish in the lake. This could be considered: a) Vandalism b) Trespassing c) Truancy d) Espionage
Trespassing
Many people die without a will. The court may appoint a person to supervise the distribution of another person's property after his or her death. This appointed person is called the: a) Administrator b) Arbitrator c) Escrow advisor d) Executor
Administrator
The Latin term "pro se" is used to describe a person who: a) Is on probation b) Brings a lawsuit against another person c) Is a guardian for another person d) Represents himself or herself in court
Represents himself or herself in court
Two people agree to commit a crime and do something to begin this crime. They can be charged with: a) Contempt b) Conjugation c) Conspiracy d) Contested negligence
Conspiracy
Which of the following is the administrative arm of the United Nations? a) UNESCO b) The Security Council c) The Secretariat d) The General Assembly
The Secretariat
What is true about the trademark process? a) You should file yourself to save money b) Most applicants can file for free c) Most applicants file using an attorney d) Only corporations can apply for trademarks
Most applicants file using an attorney
Guard your Social Security number and other personal information to avoid this fraud: a) Spoofing b) Advance-fee fraud c) Identity theft d) Tax evasion
Identity theft
The Fair Housing Act allows landlords of apartment complexes to discriminate against some potential tenants when the tenants: a) Have children under the age of 18 b) Use drugs and endanger other tenants c) Have disabilities d) Any of the above
Use drugs and endanger other tenants
Wikipedia is an encyclopedia developed: a) Using crowd sourcing b) By hiring writers and editors c) As an online version of a popular book d) Entirely by college professors and graduate students
Using crowd sourcing
When an FDA regulated product is found to be faulty, the FDA will: a) Request a voluntary recall and help notify the public b) Pull the product off the shelves c) Issue consumer refunds d) Halt manufacture and seek charges against those responsible
Request a voluntary recall and help notify the public
If the real estate market in your community is said to be a "buyer's market," this probably means: a) There are more buyers than sellers in the market b) Buyers will bid up prices c) Sellers will command top dollar for their homes d) Sellers may have to m
Sellers may have to make price concessions to sell their homes
How many amendments are there to the Constitution? a) 10 b) 27 c) 31 d) 50
) 27
Caveat emptor is Latin for: a) Let the buyer beware b) The consumer is always right c) It's a jungle out there d) The marketplace is fair
Let the buyer beware
In legal terms, an attack on the good reputation of a person is known as: a) Assault b) Battery c) Cyberlibel d) Defamation
Defamation
A consumer product without a brand name or registered trademark is considered: a) Boutique b) Generic c) Private label d) Store brand
Generic
A death certificate legally certifies the date and place of a person's death. This certificate is issued by the: a) The funeral director b) The police department c) The county clerk's office d) The coroner
The coroner
When a product or service is sold below cost to attract new customers, it is known as: a) Loyalty marketing b) Niche marketing c) Guerilla marketing d) A loss leader
A loss leader
More Americans vote during which type of election? a) Congressional b) Gubernatorial c) Presidential d) Local
Presidential
Whose picture appears on the $50 bill? a) Benjamin Franklin b) Alexander Hamilton c) Andrew Jackson d) Ulysses S Grant
Ulysses S Grant
Which federal agency issues travel warnings for Americans planning to travel abroad? a) The Department of Commerce b) The Federal Trade Commission c) The State Department d) The Department of Homeland Security
Department of State
Which of the following classifies as a want? a) Water b) Coffee c) Shelter d) Clothing
Coffee
What is true about the National Do Not Call List and cell phones? a) You cannot register cell phones b) You can register your cell phone number c) You can only register your cell phone number if it is your primary phone d) You can register your cell phone
You can register your cell phone number
To become a naturalized citizen of the US, you must meet which of the following requirements: a) Be at least 21 years old b) Have lived in the U.S. as a legal resident for at least 10 years c) Be able to read, write, speak and understand basic English d)
Be able to read, write, speak and understand basic English
Who must register for the Selective Service? a) Men when they turn 18 b) Men and women when they turn 18 c) Men who turn 18 and do not plan to go to college d) Men and women who turn 18 and do not plan to go to college
Men when they turn 18
Which of these may be protected by a copyright? a) A book of poetry b) An improvised speech c) A calendar d) A listing of ingredients
A book of poetry
A trademark is most similar to a: a) Service mark b) Copyright c) Patent d) 501(c)3
Service mark
In a criminal or civil case, one party must prove facts which are in dispute in the case. This requirement is called: a) Burden of proof b) Statute of limitations c) Cause and effect d) Indemnity
Burden of proof
The state department of motor vehicles is part of the: a) Public sector b) Private sector c) Mutual sector d) Open sector
Public sector
If inflation is 2%, a $1 pack of gum will cost this much in one year: a) $1.02 b) $0.98 c) $1.20 d) $2.00
$1.02
To "expunge" something from a court record means to: a) remove every reference of it from the court file b) file the court record with the court administrator c) rule on a case d) restate the testimony of a witness
remove every reference of it from the court file
Department of Housing and Urban Development
Federal agency responsible for promoting community development and homeownership
Fair Housing Act
Federal law that bans discrimination in housing based on race, gender, disability, national origin, or religion
Disability housing accommodation
A change in rules, policies, services, or practices to give people with disabilities access to dwellings suitable for their needs
Protected class
Group of people protected from discrimination by federal law
Lead Disclosure Rule
Federal law requiring the disclosure of lead-based paint and its hazards before selling or leasing properties built before 1978
Lease
Contract that specifies how a tenant may use rental property, and what payment is owed to the landlord
Cooling Off Rule
Federal law that allows buyers three days to cancel a purchase or service made at home or in a location that is not ordinarily a place of business
FERPA (Family Educational Rights and Privacy Act)
Federal law that prevents unauthorized access to minor students' school records without consent from parents or legal guardians
Clery Act
Federal law requiring colleges and universities that receive federal financial aid to annually disclose crimes which occur on or near campus
Title I School
School that receives federal financial assistance because the majority of its student population is considered low-income
Individuals with Disabilities Education Act (IDEA)
Federal law mandating students with disabilities receive a free and appropriate public education that is adapted to meet their needs
Department of Education
Federal agency that mandates education standards and enforces anti-discrimination laws in schools
Individualized Education Program
A plan that ensures that students with disabilities receive specialized educational services tailored to their needs
Title IX
Federal law that prohibits gender discrimination in public schools, colleges, activities, or programs that receive federal funding
Head Start
Federal early childhood education intervention program for low-income children aged birth to five that focuses on academic, social, and emotional readiness for elementary school
TANF (Temporary Assistance for Needy Families)
Government program which assists impoverished families in becoming self-sufficient
WIC (Women, Infants, and Children)
Federal assistance program designed to provide nutritious food and food education to low-income women, pregnant women, infants, and children up to age five
Department of Health and Human Services
Federal agency responsible for protecting public health and providing essential social services
Supplemental Nutrition Assistance Program (SNAP)
Federal program that provides nutrition assistance to low-income people and families and economic assistance to communities
Medicaid
Joint federal and state program that helps with medical costs for some people with limited income and resources
Early Childhood Education
Schooling for children ages 5 and younger with a focus on social, emotional, and academic readiness
Voting Rights Act
Federal law that banned racial discrimination in voting
Civil Rights Act
Federal law that prohibited discrimination based on race, gender, national origin, color, or religion, and provided equal access to employment opportunities
Department of Justice
Agency responsible for enforcing federal laws and protecting the public from threats both domestic and foreign
Incumbent
An elected official who already holds a political position and runs again for reelection
Constituent
A person who resides or works in a location represented by a politician
National Voter Registration Act
Federal law enacted to make registering to vote and maintaining voting registration easier
Supreme Court
The highest federal court in the U.S.
Department of Labor
Federal agency that promotes the welfare of workers, job seekers, and retirees
Unemployment insurance
Monetary payments made to workers who have lost their jobs and meet certain eligibility requirements
to be neutral
The BBB doesn't endorse or recommend specific businesses to consumers. Why?
housing
average American consumer spends the most money on this item
affidavit
a sworn written statement of facts & circumstances signed by the author
right to dispute; more rights
benefit of using a credit card online
Dept of Labor
federal agency that investigates workplace harassment
OSHA
office within the Dept of Labor that insures safe and helpful working conditions
nothing; there are no restrictions for kids working on parents' farm
13 year old works on parents' farm, the Fair Labor Standards Act restricts them from what?
2
number of chambers in US Congress
Emergency Alert System
this is a test, this is only a test
Dept of Ed
federal agency that determines educational standards and laws
cost of item per unit of measure
information on unit pricing provides
better buy
unit pricing helps make good consumer choices because it helps determine the
must consider storage or spoilage
both products similar in quality...why not always better to buy the better unit price?
popup shops
shops that open at specific times of the year, like Halloween and Christmas
Magnuson-Moss
federal law enforced by the FTC that requires sellers to make warranty information available to consumers before purchase
tobacco products, obscene/inappropriate products
federal law prohibits these types of products/services from being broadcasted
Equal Credit Opportunity Act
A law that protects consumers from discrimination in the granting or denying of credit
seatbelt
the NHTSA says that over 27 million people fail to use this
free trade
reduced trade restrictions with other countries
allows you to pay an average amount monthly in order to avoid spikes in your bill caused by seasonal changes
what is a budget billing plan?
forever
A US $10 bill over 100 years old is still worth face value for how long?
form/join unions and collectively bargain
2 rights established by the National Labor Relations Act
Federal Election Commission
federal commission administers public funding for national elections
presidential nominees of each major party
What candidates are eligible for public funding in the general election?
profit
money a company has left after paying operating expenses
ATF (Alcohol, Tobacco and Firearms Bureau)
federal agency that protects the public from violent crimes involving explosives or the illegal distribution of alcohol
Miranda Rights
legal statement that protects the suspect if he/she chooses not to provide answers
buyer beware
the Latin statement that means for the purchaser it's "buyer beware
19th
Amendment that gave women the right to vote