BancorpSouth Reducing Your Spending

Ready to test your knowledge on spending? Below are ten multiple choice questions to answer. After you've completed answering all ten questions, click "Grade Me!" at the end of the quiz to see how you did.

Question 1

If you spend $4.25 a day on carry out coffee, how much will you spend on carry out coffee annually?

(A) $425.00	Correct Incorrect
(B) $5,125.25	Correct Incorrect
(C) $244.15	Correct Incorrect
(D) $1,551.25	Correct Incorrect

Question 2

Which of the following are true regarding extended warranties?

(A) Extended warranties and service contracts save you maintenance costs over time.	Correct Incorrect
(B) Extended warranties and service contracts make the salesman lots of money, and rarely pay off for you.	Correct Incorrect
(C) Companies that provide extended warranties lose money.	Correct Incorrect
(D) Extended warranties always cover the full replacement or repair of the item they cover.	Correct Incorrect

Question 3

What do experts recommend that you do to reduce your weekly grocery spending?

(A) Shop with a list.	Correct Incorrect
(B) Use coupons for items that you have on your shopping list.	Correct Incorrect
(C) Review the unit price tags on items to get the most for your money.	Correct Incorrect
(D) All of the above.	Correct Incorrect

Question 4

What percentage of your monthly gross income do experts recommend that you spend on housing?

(A) Between 25% and 35%	Correct Incorrect
(B) Less than 20%	Correct Incorrect
(C) Less than 50%	Correct Incorrect
(D) Less than 70%	Correct Incorrect

Question 5

If you were to replace a single standard incandescent light bulb with a compact fluorescent light (CFL) bulb, what would the expected annual electrical cost savings be?

(A) $6.00 per bulb.	Correct Incorrect
(B) $0.79 per bulb	Correct Incorrect
(C) $1.95 per bulb.	Correct Incorrect
(D) $29.95 per bulb.	Correct Incorrect

Question 6

Which of the following are many consumers eliminating from their household budget as a result of technological advances and the advent of new services?

(A) Cable or satellite television.	Correct Incorrect
(B) Home phone lines.	Correct Incorrect
(C) CD and DVD purchases.	Correct Incorrect
(D) All of the above.	Correct Incorrect

Question 7

What is the difference between name brand and generic medication?

(A) Brand medications have higher quality ingredients.	Correct Incorrect
(B) Generic medications are not approved by the FDA.	Correct Incorrect
(C) Name brand medications are more effective.	Correct Incorrect
(D) Only the price you pay and the name on the label.	Correct Incorrect

Question 8

How much should you be paying in interest charges on your credit card each month?

(A) Nothing. You should pay off the card balance each month.	Correct Incorrect
(B) Less than $250	Correct Incorrect
(C) Less than $50.	Correct Incorrect
(D) Less than $100.	Correct Incorrect

Question 9

What single action can save the average consumer the most money from your home energy bills?

(A) Turn off the lights when you leave the room.	Correct Incorrect
(B) Turn down the thermostat for heating your home.	Correct Incorrect
(C) Unplug electronics when not in use.	Correct Incorrect
(D) Run appliances in the evening when energy costs are lower.	Correct Incorrect

Question 10

Which of the following are good ways to reduce your transportation costs?

(A) Take advantage of telecommuting/telecommunications technology.	Correct Incorrect
(B) Don't drive aggressively, drive the speed limit.	Correct Incorrect
(C) Use carpooling, public transit or other non-motorized options	Correct Incorrect
(D) All of the above.	Correct Incorrect

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Reducing Your Spending