FP 101 Week 5 Quiz

FP 101 Week 5 Quiz

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FP 101 Week 5 Quiz

Complete the Week 5 Quiz provided by your facilitator.

Submit your Week 5 Quiz as a Microsoft^® Word^®attachment to the Assignment Files tab.

Week 5

1. Before taking out a loan, you should ask yourself whether you can meet all your essential expenses and still afford the monthly loan payments. This can be determined by

1. Adding up basic monthly expenses then subtracting this total from gross pay

1. Asking what you plan to give up to make the monthly loan payment

1. Multiplying your take-home pay by 50% and subtracting your current loan payments

1. Adding up basic monthly expenses, subtracting this total from take-home pay and, if needed, figuring out what to give up to make the payment

2. The text identifies several phases in the buying process. The correct order of the phases is

2. Evaluating alternatives, pre-shopping activities, selection and purchase, post-purchase activities

2. Pre-shopping activities, selection and purchase, evaluating alternatives, post-purchase activities

2. Pre-shopping activities, evaluating alternatives, selection and purchase, post-purchase activities

2. Evaluating alternatives, selection and purchase, pre-shopping activities, post-purchase activities

3. Information gathering is part of the ________________ phase of the decision-making process.

3. Evaluating alternatives

3. Pre-shopping activities

3. Selection and purchase