For a little bit of fun today we’d like to invite you to take this quiz to test your “consumer awareness”!
TRUE OR FALSE
1. Buying clubs are designed to help consumers compare prices at different stores.
2. The mail-order rule allows a person to cancel an order that is not shipped within a certain time period.
3. Layaway purchase plans are designed to help consumers buy items at discount prices.
4. The cooling-off period generally applies to purchases of $25 or more.
5. Most consumer complaints require legal action to solve.
6. The most reliable source of consumer information would be from:
- an advertisement.
- a salesperson.
- an executive of the company.
- a product label.
7. A buying club commonly:
- requires a minimum purchase.
- has a large initiation fee.
- wants the members to encourage others to join.
- only allows a few people in an area to be members.
8. The mail-order rule requires that companies:
- notify customers if an item is not currently available.
- only sell certain items by mail.
- accept credit cards for mail-order purchases.
- allow a person to return an item for full credit.
9. The right to cancel certain purchases of $25 or more within three business days is known as the (fill in the blank) rule.
- layaway
- cooling-off
- mail-order
- telemarketing
10. The first step a person with a consumer complaint should take is to:
- obtain legal assistance.
- contact a consumer agency.
- write to the headquarters of the company.
- return to the place of purchase.
View the answers from the Indiana Department of Financial Institutions.
