5 Written questions
5 Matching questions
- Open ended credit
- minimum liability limits
- Captive finance companies
- credit card
- a - the amount you pay out of pocket before your insurance pays the clam
- b - 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
- c it is required by state law. the insurance company gives you a set amount of money for:
- individual, all persons, property
EX. 25/50/10 K
- d - a finance company owned by the parent company.
-The purpose is to provide financing to costumer of parent companies that purchased there product.
- e ______ are credit issued by finance companies, credit unions, or banks.
they generate income by:
-charging a discount to the merchant
-charging interest/ annual fees to card holders
5 Multiple choice questions
- - a promise by the manufacture/merchant to stand by there product
- - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
-It is regulated by state government
- - payment history effects your _______ the most.
-If you continue to payoff your credit, companies will continue to give you money
-the scale is 300-900
-it also effects your ability to obtain a loan/interest rate
- - pays for the damages to another vehicle or medical bills if its your fault
- 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
- driving record
5 True/False questions
Annual fees → - a promise by the manufacture/merchant to stand by there product
term life insurance → - a amount of time you pay for life insurance.(10 yrs)
warranty of fitness → - holds the seller accountable for a recommend use.
Ex. 0 degree sleeping bag will work in the winter
comprehensive insurance → - protects your car from other types of damages
EX. weather, fire, theft
interest rates → - a promise by the manufacture/merchant to stand by there product