TEST: Unit 14 Consumer Skills

Last updated 23 days ago

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Influencers can influence consumers' financial habits primarily by:

Demonstrating frugal spending practices

Focusing solely on non-monetary lifestyle content

Showcasing products and services they endorse

Advocating for charitable donations

What is one step someone can take if they want to cut down on the number of paid subscription services they have?

Track which subscriptions they use over the next five years to see which ones they can get rid of

Regularly review and cancel subscriptions that are no longer needed or used

Subscribe to more services to find out which ones are truly necessary

Wait for subscriptions to expire since it is illegal for companies to auto-renew them

When shopping for a new backpack for school, which of the following factors should Sean be LEAST concerned about?

Compatibility with electronic devices

Size and capacity

Warranty and return policy

Material and construction

Among the following options, which one is NOT considered one of the six principles of influence?

Scarcity

Social proof

Relatability

Consistency

Which of the following statements accurately reflects a recent trend in identity theft?

Online shopping has become a less common avenue for identity theft.

Identity theft has become less prevalent due to improved cybersecurity measures.

Identity thieves are now primarily targeting corporate databases instead of individual consumers.

There has been an increase in identity theft related to cryptocurrency transactions.

How do companies use the practice of retargeting to get consumers to spend more money?

Displaying ads for products consumers have previously viewed or shown interest in to encourage them to make a purchase

Focusing on first-time visitors to their website rather than returning visitors

Sending consumers fewer advertisements to avoid overwhelming them

Limiting their marketing efforts to physical stores only

Which of the following indicates that the notification Zach received from the IRS about owing money is real and not a scam?

The notification provides a legitimate IRS phone number that Zach can call to verify the information.

The notification includes Zach's personal information but has numerous spelling and grammar errors.

The notification requests payment via gift cards or cryptocurrency.

The notification urges Zach to click on a suspicious link to resolve the issue immediately.

Which of the following BEST describes ethical consumerism?

Selecting products based on convenience and immediate availability

Choosing products from companies that use Fairtrade practices

Buying products from trending brands on social media

Only purchasing items during major sales events to maximize savings

Which of the following is an example of the Roach Motel dark pattern?

A banner ad has a fake speck of dust to trick users to click on it when they try to swipe the dust away

A mobile app uses green buttons throughout to select NO but then suddenly changes it to select YES

A website automatically signs you up for a paid subscription when you create an account but there is no easy way to cancel it

A hotel reservation site tells you the number of deals you just missed by failing to book a room faster

What is a potential benefit of timing purchases to coincide with specific seasons or events throughout the year?

To limit the availability of desired products.

To randomly diversify spending habits.

To align with promotional offers and discounts tailored to those times.

To disregard budgetary constraints.

Which of the following is an example of a hidden fee?

A service charge added to a hotel bill that was not disclosed upfront

A discount applied at a grocery checkout for meeting a minimum purchase amount

An advertised annual membership fee for a gym

A price tag that includes the final cost, including taxes and service charges

All of the following are ways to use social media more mindfully EXCEPT:

Mindlessly scrolling through feeds without purpose.

Taking regular breaks from social media to focus on offline activities.

Engaging in constructive discussions and avoiding arguments.

Setting time limits for daily usage.

How might freezing your credit help you protect your personal information?

Your credit report continues to include past credit information but does not include new accounts you open

All of your credit cards are canceled and removed from your credit file

Your credit information is locked for ten years but can be accessed by auto and mortgage lenders

Your credit information is blocked to help prevent someone from opening accounts in your name

Isaiah is shopping for a new pair of jeans. What is one step he can take to make an ethical purchase?

Buying jeans made from synthetic materials because they are more durable

Choosing the pair of jeans he keeps seeing in ads on social media

Selecting a pair of jeans that is currently popular on TikTok

Researching brands that use sustainable materials and fair labor practices

What is a pyramid scheme?

A type of scam in which a fraudster makes purchases in groups of three to minimize suspicion

A type of scam in which payments from lower-level, recruited employees are pushed to higher-level employees

A type of scam in which a fraudster hacks into your social media, bank, and email accounts

A type of scam in which a company sells you products that you never actually receive

Considering Sean received a notification of compromised information and potential identity theft, which action should he avoid?

Placing a fraud alert on his credit reports.

Contacting relevant authorities to report the incident.

Notifying his financial institutions and credit bureaus.

Reviewing his account statements for any unauthorized transactions.

In an advertisement, a well-known athlete promotes a brand of protein bars, emphasizing, "As an athlete, I rely on these bars to fuel my performance." Which principle of influence is being employed in this advertisement?

Reciprocity.

Social proof.

Authority.

Consistency.

Which of the following products or categories are consumers MOST influenced to purchase by social media?

Fashion and clothing.

Electronics and gadgets.

Food and beverages.

Home decor and furniture.

What does it mean if a fraudster accessed your personal information through phishing?

The fraudster got your information by going through the physical mail you threw out in the trash

The fraudster contacted your relatives and friends and got your information by pretending to be a hiring manager for a large company

The fraudster obtained your information through the dark web

The fraudster tricked you into revealing personal information through email, texts, or other electronic communication

What is a potential benefit of comparison shopping?

You are guaranteed to find a product that meets every criteria that is important to you

Stores provide a significant discount if they know you took a lot of time to find the best deal

You are more likely to find a product that best fits within your budget

You qualify for a store’s reward program if you take the time to comparison shop on a frequent basis

Sofia receives a text message from her bank. Which of the following does NOT suggest that the text may be a scam?

The sender's phone number matches the official bank's number.

The message includes specific details about recent transactions to confirm authenticity.

The message contains a link asking her to verify her account details.

The message urges her to respond immediately to prevent account suspension.

Which of the following is the BEST course of action for Niko to take next?

Reach out to the social media platform's support team for assistance.

Check his credit card statement for any unfamiliar charges and report them to his bank.

Contact the customer service number provided in the social media ad.

File a dispute with his credit card company for the transaction.

Which of these most accurately defines a dark pattern?

When a business systematically takes advantage of a subset of customers based on a certain demographic or socioeconomic status

When sellers keep you in the dark by withholding key information about their product

When a salesperson continues to send you emails long after you’ve left the store

When design features trick users into doing something that benefits the business

Which of the following students is doing a POOR job of protecting themselves against identity theft?

Sarah, who regularly monitors her bank account for any unauthorized transactions and uses a unique password for each online account.

Emily, who securely stores sensitive documents, such as her social security card and passport, in a locked cabinet at home.

Alex, who shares personal information, such as their full name, address, and birthdate, on social media platforms.

David, who frequently updates his antivirus software and uses a virtual private network (VPN) when accessing public Wi-Fi networks.

The two major signs of a scam are a request for personal information and ___________.

promises of guaranteed returns on investment without any risk

providing detailed receipts for purchases

offering legitimate customer service support

using secure payment methods

Influencers can influence consumers' financial habits primarily by:

Demonstrating frugal spending practices

Focusing solely on non-monetary lifestyle content

Showcasing products and services they endorse

Advocating for charitable donations

What is one step someone can take if they want to cut down on the number of paid subscription services they have?

Track which subscriptions they use over the next five years to see which ones they can get rid of

Regularly review and cancel subscriptions that are no longer needed or used

Subscribe to more services to find out which ones are truly necessary

Wait for subscriptions to expire since it is illegal for companies to auto-renew them

When shopping for a new backpack for school, which of the following factors should Sean be LEAST concerned about?

Compatibility with electronic devices

Size and capacity

Warranty and return policy

Material and construction

Among the following options, which one is NOT considered one of the six principles of influence?

Scarcity

Social proof

Relatability

Consistency

Which of the following statements accurately reflects a recent trend in identity theft?

Online shopping has become a less common avenue for identity theft.

Identity theft has become less prevalent due to improved cybersecurity measures.

Identity thieves are now primarily targeting corporate databases instead of individual consumers.

There has been an increase in identity theft related to cryptocurrency transactions.

How do companies use the practice of retargeting to get consumers to spend more money?

Displaying ads for products consumers have previously viewed or shown interest in to encourage them to make a purchase

Focusing on first-time visitors to their website rather than returning visitors

Sending consumers fewer advertisements to avoid overwhelming them

Limiting their marketing efforts to physical stores only

Which of the following indicates that the notification Zach received from the IRS about owing money is real and not a scam?

The notification provides a legitimate IRS phone number that Zach can call to verify the information.

The notification includes Zach's personal information but has numerous spelling and grammar errors.

The notification requests payment via gift cards or cryptocurrency.

The notification urges Zach to click on a suspicious link to resolve the issue immediately.

Which of the following BEST describes ethical consumerism?

Selecting products based on convenience and immediate availability

Choosing products from companies that use Fairtrade practices

Buying products from trending brands on social media

Only purchasing items during major sales events to maximize savings

Which of the following is an example of the Roach Motel dark pattern?

A banner ad has a fake speck of dust to trick users to click on it when they try to swipe the dust away

A mobile app uses green buttons throughout to select NO but then suddenly changes it to select YES

A website automatically signs you up for a paid subscription when you create an account but there is no easy way to cancel it

A hotel reservation site tells you the number of deals you just missed by failing to book a room faster

What is a potential benefit of timing purchases to coincide with specific seasons or events throughout the year?

To limit the availability of desired products.

To randomly diversify spending habits.

To align with promotional offers and discounts tailored to those times.

To disregard budgetary constraints.

Which of the following is an example of a hidden fee?

A service charge added to a hotel bill that was not disclosed upfront

A discount applied at a grocery checkout for meeting a minimum purchase amount

An advertised annual membership fee for a gym

A price tag that includes the final cost, including taxes and service charges

All of the following are ways to use social media more mindfully EXCEPT:

Mindlessly scrolling through feeds without purpose.

Taking regular breaks from social media to focus on offline activities.

Engaging in constructive discussions and avoiding arguments.

Setting time limits for daily usage.

How might freezing your credit help you protect your personal information?

Your credit report continues to include past credit information but does not include new accounts you open

All of your credit cards are canceled and removed from your credit file

Your credit information is locked for ten years but can be accessed by auto and mortgage lenders

Your credit information is blocked to help prevent someone from opening accounts in your name

Isaiah is shopping for a new pair of jeans. What is one step he can take to make an ethical purchase?

Buying jeans made from synthetic materials because they are more durable

Choosing the pair of jeans he keeps seeing in ads on social media

Selecting a pair of jeans that is currently popular on TikTok

Researching brands that use sustainable materials and fair labor practices

What is a pyramid scheme?

A type of scam in which a fraudster makes purchases in groups of three to minimize suspicion

A type of scam in which payments from lower-level, recruited employees are pushed to higher-level employees

A type of scam in which a fraudster hacks into your social media, bank, and email accounts

A type of scam in which a company sells you products that you never actually receive

Considering Sean received a notification of compromised information and potential identity theft, which action should he avoid?

Placing a fraud alert on his credit reports.

Contacting relevant authorities to report the incident.

Notifying his financial institutions and credit bureaus.

Reviewing his account statements for any unauthorized transactions.

In an advertisement, a well-known athlete promotes a brand of protein bars, emphasizing, "As an athlete, I rely on these bars to fuel my performance." Which principle of influence is being employed in this advertisement?

Reciprocity.

Social proof.

Authority.

Consistency.

Which of the following products or categories are consumers MOST influenced to purchase by social media?

Fashion and clothing.

Electronics and gadgets.

Food and beverages.

Home decor and furniture.

What does it mean if a fraudster accessed your personal information through phishing?

The fraudster got your information by going through the physical mail you threw out in the trash

The fraudster contacted your relatives and friends and got your information by pretending to be a hiring manager for a large company

The fraudster obtained your information through the dark web

The fraudster tricked you into revealing personal information through email, texts, or other electronic communication

What is a potential benefit of comparison shopping?

You are guaranteed to find a product that meets every criteria that is important to you

Stores provide a significant discount if they know you took a lot of time to find the best deal

You are more likely to find a product that best fits within your budget

You qualify for a store’s reward program if you take the time to comparison shop on a frequent basis

Sofia receives a text message from her bank. Which of the following does NOT suggest that the text may be a scam?

The sender's phone number matches the official bank's number.

The message includes specific details about recent transactions to confirm authenticity.

The message contains a link asking her to verify her account details.

The message urges her to respond immediately to prevent account suspension.

Which of the following is the BEST course of action for Niko to take next?

Reach out to the social media platform's support team for assistance.

Check his credit card statement for any unfamiliar charges and report them to his bank.

Contact the customer service number provided in the social media ad.

File a dispute with his credit card company for the transaction.

Which of these most accurately defines a dark pattern?

When a business systematically takes advantage of a subset of customers based on a certain demographic or socioeconomic status

When sellers keep you in the dark by withholding key information about their product

When a salesperson continues to send you emails long after you’ve left the store

When design features trick users into doing something that benefits the business

Which of the following students is doing a POOR job of protecting themselves against identity theft?

Sarah, who regularly monitors her bank account for any unauthorized transactions and uses a unique password for each online account.

Emily, who securely stores sensitive documents, such as her social security card and passport, in a locked cabinet at home.

Alex, who shares personal information, such as their full name, address, and birthdate, on social media platforms.

David, who frequently updates his antivirus software and uses a virtual private network (VPN) when accessing public Wi-Fi networks.

The two major signs of a scam are a request for personal information and ___________.

promises of guaranteed returns on investment without any risk

providing detailed receipts for purchases

offering legitimate customer service support

using secure payment methods