Spring2009Test3withanswers - Spring 2009 Test 3 Chapters...

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Spring 2009 Test 3 Chapters 8-9 True / False Questions 1. Overspending is a common cause of financial difficulties. True 2. The first phase in the buying process involves information gathering. True 3. The most consistent quality is usually found with nationally known, brand-name products. True 4. Store-brand products are usually inferior in quality compared to national and store-brand items. False 5. An implied warranty is usually in written form. False 6. Service contracts are usually included in the cost of appliances and other high-priced items. False 7. Representation by a lawyer is usually required in small claims court. False 8. A class action suit allows many people with the same complaint to take action as a group. True 9. Unit pricing uses a standard unit of measurement to compare prices of packages of different sizes. True 10. A limited warranty covers all aspects of the product and does not require the buyer to incur any of the costs for shipping and repairs. False Multiple Choice Questions 11. The main purpose of Consumers Union is to: A. evaluate the quality of products and services. B. reduce fire hazards of home appliances. C. handle consumer complaints from government workers. D. represent the government in consumer complaint hearings. E. provide environmental information on automobiles. 12. A cooperative is designed to: A. solve consumer complaints. B. test consumer products for quality. C. sell products or services to members at reduced prices. D. obtain brand-name items for less than wholesale. E. lobby for changes in consumer protection laws. 13. Cooperatives are most commonly organized to sell: A. service contracts. B. furniture. C. auto repair service. D. food . E. information processing service. 3-1
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Spring 2009 Test 3 Chapters 8-9 14. Open dating provides information on: A. freshness . B. pricing. C. nutrition. D. common product use. E. government inspection. 15. A 32-ounce package selling for $1.60 would have a unit price of: A. $1.60. B. $2.00 a pound.
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This note was uploaded on 03/05/2011 for the course FIN 4401 taught by Professor Ramos during the Fall '08 term at FIU.

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Spring2009Test3withanswers - Spring 2009 Test 3 Chapters...

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