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GEB 3006 Final Exam Questions With 100% Correct Answers
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GEB 3006 Final Exam Questions With 100% Correct Answers
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GEB 3006 Final Exam Questions With100% Correct Answers
Ifiyouibuyiailargerisizeiofiaiproduct,itheipriceiperiuniti(suchiasipriceiperiou
nce)iwillialwaysibeilower.i-iCorrectiAnswer-False
TheipriceiperiunitiofiitemsiboughtiiniaiwarehouseiclubisuchiasiSamsioriCo
stcoiwillialwaysibeilowerithaniairegulariretailistore.i-iCorrectiAnswer-
False
Retailersicommonlyiofferinewiitemsiatisignificantlyihigheriprices,ithenip
lanitoimarketitheigoodsidownilateritoiultimatelyiachieveitheidesiredigro
ssimarginigoal.i-iCorrectiAnswer-True
Whichiofitheifollowingiwouldiprovideitheimostiobjectiveiinformationiab
outiaiproduct?i-iCorrectiAnswer-Aifoodiproductiingredientilabel.
Inimosticases,iserviceiwarrantyicontractsiprovideiexcellentiprotectionia
ndiareigenerallyigoodideals.i-iCorrectiAnswer-False
Assumeiyouispenti$250iforiaipressureiwasherithatiwillisaveiyoui$50iaiye
ariinirentalicosts.
Usingisimpleipayback,ihowilongiwilliititakeitoigetiyourimoneyiback?i-
iCorrectiAnswer-5iYears
,Itiisineveriaigoodiideaitoiprepayisomethingiforiaidiscountidueitoitheiriskii
nvolved.i-iCorrectiAnswer-False
Whenishoppingiforiaicar,iyouishouldiimmediatelyiofferiyouricurrenticari
asiaitrade-initoistrengtheniyouribargainingipoweri-iCorrectiAnswer-False
Zeroipercentifinancingiisialwaysiaigreatidealisinceiaizeroipercentiinteresti
rateiisilowerithanianyibankiwouldieverioffer.i-iCorrectiAnswer-False
Isiisialwaysiadvisableitoihaveiyouriautoifinancingiarrangediiniadvancedib
eforeiyouistartinegotiatingioniaicar.i-iCorrectiAnswer-True
Assumeithatiaidealerihasiofferediyoui$10,000iforiyouricariasiaitrade-
iniwhichiwillisaveiyoui7%isalesitaxioniyourinewicar'sitaxivalue.
Ifiyouidecideitoisellitheicaritoiaithirdiparty,iyouineeditoigetimoreithani-
iCorrectiAnswer-$10,700
Assumeiyouidrivei10,000imilesiperiyeariandigeti20imilesitoitheigallon.
Ifiyouricarirequiresipremiumigas,ihowimuchimoreiwillithisicostiyouioveri
ai5iyeariperiodiassumingithatipremiumigasicostsi$0.60/gallonimoreithan
iregular?i-iCorrectiAnswer-$1,500
Depreciationioniautositendsitoibeihighestiiniyearsi-iCorrectiAnswer-
1itoi3
, Leasingicarsiisigenerallyimuchicheaperithanibuyingicarsisinceitheipayme
ntiisisoimuchilower.i-iCorrectiAnswer-False
Generally,iyouineeditoiplanitoistayiiniaihouseiforiabouti______iyearsitoir
educeitheiriskiofilosingimoneyionitheihouseiwheniyouireselliit.i-
iCorrectiAnswer-5iYears
Whatiareisomeiofitheidisadvantagesiofiowningiaihouse?i-
iCorrectiAnswer-Alliofitheiaboveiareidisadvantagesiofiowningiaihouse.
WhichiofitheifollowingistatementsiisiTRUE?i-iCorrectiAnswer-
Realiestateicommissionsiareiusuallyi6%iandipaidibyitheiseller.
Monthlyiescrowiforipropertyitaxesiandiinsuranceicaniaddiupitoi____imo
reitoitheimortgageipayment.i-iCorrectiAnswer-40%
PITIistandsiforiprincipal,iinterest,itaxesiandiinsurance.i-iCorrectiAnswer-
True
TheihousingiexpenseiratioiofiPITIidividedibyigrossimonthlyiincomeishoul
dinotiexceediaimaximumiofi____i-iCorrectiAnswer-
28%iforiconventionaliloansiandi29%iforiFHAiloans
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