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5 Written questions

5 Matching questions

  1. Life insurance
  2. APR
  3. premiums for car insurance and deduables
  4. liability insurance
  5. comprehensive insurance
  1. a - Annual percent rate= expressed as a true interest charged over the life of a loan, also it includes fees associated with the loan
  2. b - pays for the damages to another vehicle or medical bills if its your fault
  3. c what it will effect the cost:
    - types of coverages and amounts
    -deductibles- the amount you pay out of pocket before your insurance pays the clam
    -type of car
    -personal characteristic
    - driving record
  4. d - protects your car from other types of damages
    EX. weather, fire, theft
  5. e - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
    -It is regulated by state government

5 Multiple choice questions

  1. - a product warranty created by the state law, all states have them
    -every purchase you make is covered by Implied/written warranties
  2. -the amount you pay for insurance
  3. - they charge discount to the merchant (2%-3%)
    - charging interest/ annual fees (6%-24%)
  4. - anyone who supports a family
  5. - protects your car and the other car in a accident

5 True/False questions

  1. 5 types of health insurancethere are 6 types:
    -limited coverage: fire, lighting, vandalism
    -basic coverage: falling objects, ice, etc.
    -comprehensive: Everything
    -renters: personal belongings in a condo
    -older homes: cash damages rather then what you paid


  2. Open ended credit- a credit line that borrows up to a maximum limit.
    -It stays open after a balance has been paid off. can be used again
    -Mainly for credit cards/ home equity loans


  3. Captive finance companies- a finance company owned by the parent company.
    -The purpose is to provide financing to costumer of parent companies that purchased there product.


  4. warranty of merchantability- holds the seller accountable for a recommend use.
    Ex. 0 degree sleeping bag will work in the winter


  5. loan amortization_____ are the amount of interest per year expressed as a % of the amount borrowed.


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