5th 12

Question 1

wrongful or criminal deception intended to result in financial or personal gain

Answer 1

fraud

Question 2

allows others into your financial accounts

Answer 2

electronic access

Question 3

buyer alone is responsible for checking the quality of goods before a purchase is made

Answer 3

caveat emptor

Question 4

taking control over your impulse buying through various tactics

Answer 4

power over purchase

Question 5

research best quality at best practice before a large purchase

Answer 5

due diligence

Question 6

loss of potential gain from other alternatives when one alternative is chosen

Answer 6

opportunity cost

Question 7

over $1,000, house, car, vacation, reception, furniture….

Answer 7

major purchase

Question 8

arrangement by which a company guarantees compensation for a specified loss in return for payment

Answer 8

insurance

Question 9

being responsible by law

Answer 9

liability

Question 10

the cost of insurance

Answer 10

premium

Question 11

specific amount of money that the insured must pay before an insurance company will pay on their claims

Answer 11

deductible

Question 12

minimum auto insurance coverage required by law

Answer 12

PLDP