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About This Quiz
We all love saving money. Coupons help by allowing you to use a free slip of paper that you cut out of a newspaper as though it were actual money. Of course that means you have to buy that specific brand, but that's a price worth paying. Do you know how coupons work? Take this quiz to learn more about coupons and how they work.
What is the basic function of a coupon?
They offer savings and help increase sales.
Coupons offer savings, and motivate consumers to purchase a particular product.
They motivate stores to sell certain products.
They help fill up space in magazines.
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How do you redeem a coupon?
You mail them in, and then the company mails you some cash.
You take them to a bank, and then the bank deposits that amount into your checking account.
You use them, same as cash, to pay for an item.
Usually you will bring a coupon to a store, and use the coupon for its cash value toward the purchase of a particular item. Some coupons, however, are used for a mail-in rebate.
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How often, typically, are coupons sent to a store's headquarters?
once a day
once a week
Most stores collect their coupons weekly, and then send them to headquarters for processing.
once a month
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Big chain stores are collecting how much money in coupons per week?
thousands of dollars
millions of dollars
The big chain stores usually collect millions of dollars worth of coupons per week.
billions of dollars
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What is the first step a store must take when counting coupon sales?
The coupon redemptions must be factored into the store's sales.
Coupons redemptions must be factored into the store's total sales, to make sure that the final total is accurate. Every coupon is treated as having cash value.
The coupons must be counted one by one
The coupons must be sorted by value.
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How do coupon clearinghouses usually sort through coupons?
by hand
Somewhere in America, right now, a team of people is sorting and cataloging millions of coupons by hand.
by computer
by robot
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The first step in the clearinghouse's sorting process is to separate the coupons by which of these categories?
date
dollar value
manufacturer
Used coupons are usually returned to the product manufacturer, which means they must be sorted by manufacturer before they are tallied.
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The code on a coupon that indicates its value is called what?
a UPC code
A Universal Product Code (UPC) is a 12 digit number that allows an electronic scanner to determine the price of an item, or the value of a coupon.
a PIN code
an rot13 code
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The total value of coupons whose UPC codes are intact is usually tallied how?
by hand and calculator
by scanner and conveyer belt
Many clearing houses use conveyer belts to scan coupons. The coupons, with UPC code face up, are placed on the belt, and the scanner totals up the value.
by abacus
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About how long does the entire process of clearing coupons take?
a month
It usually take about a month for the manufacturer to get back its redeemed coupons.
six months
a year
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Approximately how much money do stores receive from manufactures for processing a coupon?
0.02
0.08
Usually a manufacturer will reimburse a store around $.08 per coupon.
0.15
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When is the most economical time to use a coupon?
Use coupons on the weekends, when fewer people are shopping.
Use a coupon to buy a product already on sale.
If you can find a coupon for an item that is already on sale you will compound your savings. You might even get the item for free.
Use a coupon the day you find it.
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After the coupon values have been tallied up by the clearinghouse, where do the coupons go?
They are destroyed by the clearing house.
They are sent to the manufacturer.
Redeemed coupons are sent back to the product manufacturer.
They are recycled.
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When collecting coupons you should keep an eye out for which of these?
fakes
expiration dates
Many coupons have expiration dates. Experts advise keeping coupons in your wallet or purse, so that you remember to use them before they expire.
cool pictures
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To which of these countries do U.S. clearing houses often outsource their excess work?
Israel
Australia
Mexico
There are so many coupons being processed per week that clearinghouses often must outsource their work to other clearinghouses, such as those in Mexico.
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You Got:
/15
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