Financial Literacy
Online Things
Wise Choices
Skills & Awareness
Miscellaneous
100

The name for how money management, budgeting, banking, credit, taxes, investing, insurance, and other financial factors all affect the individual on a personal level... also the name of this course.

Personal Finance (& Money Management)

100

You are most likely to be influenced through _________   ____________ by being targeted based on your age, gender, likes, interests, or other demographics.

Social Media

100

Considering various aspects and features of a product, making improved decisions, and saving money are all benefits to doing ______________ before making a purchase.

Research

100

The "place" where buyers and sellers meet to exchange goods/services.

Marketplace

100

Why might someone give to a charitable organization besides any monetary or tax benefits? 

Because they gain satisfaction/happiness from doing so. 

200

What is a budget (or budgeting)?

A plan for your income and expenditures.
(a plan that compares how much money you bring in with your spending and saving)

200

FOMO = ?

Fear of Missing Out

200

Comparing various goods and services of a similar nature before choosing one to go with is also referred to as ______________   _______________.

Comparison Shopping

200

What does the FTC stand for?

Federal Trade Commission

200

What does the FDA stand for?

(U.S.) Food and Drug Administration

300

The "next best" alternative, or the vale of the option you give u p when you make your first choice is called the...

Opportunity Cost

300

Features of interface design crafted to trick users into doing things they might not want to do, but which benefits the business are known as...

Dark Patterns

300

When making a choice about a financial product (like a loan, savings account, or credit card), what is at least one thing you SHOULD do?

(answers vary)
...compare products / comparison shop
...do research about your options
...read fine print of any of the options
...look for fees and terms of the account

300
This type of bias is when you only seem to regard or focus on information that confirms your existing belief system. 

Confirmation Bias

300

This usually accompanies a product and provides repairs, replacements, or refunds if the product is defective. 

Warranty

400

The Consumer Bill of Rights was first created by...

John F. Kennedy (JFK, or Kennedy, is acceptable)

400

In the "six ways of influence" about social media and marketing, this concept is that if you give something, you can expect something in return.

reciprocity

400

This term is a misleading scam whereby a seller advertises an appealing or attractive item but that the seller does not actually intend to sell... then instead, the seller offers a sub-par, defective, or unwanted alternative. 

Bait and Switch

400

This type of pricing factor is the idea of setting a high price to send the message of status or quality. 

Prestige

400

The act or service of giving to others... usually by donating time but also money or property, is often referred to as this: 

philanthropy

500

Name three government agencies that protect consumers in some way.

(answers vary, first three most important)
FDA (Food and Drug Administration)
FTC (Federal Trade Commission)
CFPB (Consumer Financial Protection Bureau)
CPSC (Consumer Product Safety Commission)
also acceptable:
BBB (Better Business Bureau)
USDA (Department of Agriculture)
NHTSA (National Highway Traffic Safety Administration)

500

This type of malicious interface design allows users to sign up or get involved really easily but makes it incredibly difficult to get out of...

Roach Motel

500

What is the 5-step decision making process?

(answer doesn't have to be exact)
1. Define the decision / ask what decision has to be made.
2. Explore alternatives / think about options
3. Choose alternative / choose best option
4. Act on the decision / Just do it
5. Evaluate the decision or solution

500

When you consume goods or service, this can have an impact on others around you that you may or may not be aware. What are TWO of the three ways it can impact those around you? 

(answers should be close to these)
Environment (can affect the surrounding environment in some way through negative or positive externalities)
Emotional (can cause envy, depression, or happiness)
Society (suggests to others what is normal or socially acceptable)

500

This investment fraud pays existing investors with funds collected from new investors. They promise to invest your money with little risk and high returns but many never do. 

Ponzi Scheme