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omitted Jul 17 at 2:45am s attempt took 27 minutes. orrect Question 1 0 / 1 pts All of the following are examples of acquisition costs of durable good EXCEPT: Buying a charger to go along with your new phone O All of the choices are examples of acquistion costs O Installation charges for having your flat screen mounted to the wall O Paying to store your boat each winter Taking classes to get your motorcycle license rrect Question 2 0 / 1 pts Which of the following statements regarding financing a consumer durable is true? The total acquisition costs will be lower than if you waited and saved up for the item O A major benefit of financing is that the consumer will be able to use the item immediately If you finance a consumer durable your credit score will automatically increase. A major cost of financing is that you will have to wait to use the item. O The purchase price could change if the item is financed.Question 3 1 / 1 pts ments Which of the following statements regarding consumer durables is TRUE? nts O All of the statements regarding consumer durables are true Consumer durables are consumed in one use edback O Consumer durables are those that consumers use for recreation purposes only Consumer durables have both consumption and investment attributes O Consumer durables are for investment only Question 4 1 / 1 pts Which of the following would NOT increase the interest charged on a loan? The debt has collateral The consumer has had a bankruptcy in the past O The consumer has a low credit score. All of the options would increase the interest charged on a loan The Federal Reserve recently raised interest rates Incorrect Question 5 0 / 1 pts Which of the following issues was addressed in the Credit CARD Act? O Placing a cap on the APR that is allowed to be charged Requires all individuals under the age of 21 to have a co-signor to qualify for a credit card Requiring payments to be credited to the portion of the bill with the lowest interest rate Disallowing the use of promotional interest rates (ex. 0% interest for six months) O Gave consumers the option of having a fixed credit limit that could not be exceeded Incorrect Question 6 0 / 1 pts Some economists believe that the amount of consumer durables purchase is a predictor of the economy. Which of the following scenarios supports that theory? O Large purchases show consumer confidence in the economy. Decreased demand for consumer durables will increase the cost of the items. O Purchasing durable goods shows an increase in demand for disposable items. O Purchasing durable goods will result in decreased tax revenue. Increased purchases in durable goods shows a lack of consumer confidence in the economy. Incorrect Question 7 0 / 1 pts According to the reading "Credit Scoring Myths" which of the following is NOT a myth (in other words, which one is true)? Looking at more than one lender (and having them pull your credit) will hurt your credit score O Bankruptcies and credit counseling both hurt your credit score O If you use close to your available limits it can hurt your credit score @ Checking your credit reports can lower your credit score O FICO is the only credit score that lenders considerIncorrect Question 8 0 f 1 P\" David Gilmore likes to use his credit card to pay his bills, but he pays off his balance in full every month to avoid paying any interest. Which of the following should he be most concerned about when looking at potential credit cards? if the card gets any benets potential late charges the annual percentage rate (APR) of the card he isn't paying interest so this is low on his priority list the grace period associated with the card how often the interest is compounded Question 9 1 f 1 F'ts Which of the following statements regarding vehicle ownership is true? It always makes sense to pay cash for a car instead of getting a loan The true cost of vehicle ownership should include the ownership costs and also the use costs. All are true The cost of the car only includes loan payments and gas. The fewer miles you drive a carr the lower cost per mile Question 10 0 / 1 pts Which of the following loans would be unsecured and installment debt? O car loan mortgage O retail credit card this is unsecured and revolving O home equity loan O payday loan Question 11 1 / 1 pts Which of the following statements regarding credit cards is true? Consumers should decide for themselves their credit card limit O Paying the minimum is sufficient to get your credit balance paid off quickly It is never a good idea to get a credit card O Credit cards will always give you a good credit history O Credit card companies are the best to determine credit limit Quiz Score: 4 out of