5 Written Questions
5 Matching Questions
- Implied/written warranties
- leasing/ buying a car and the types of loans
- warranty of merchantability
- Captive finance companies
- liability insurance
- a if you buy a car from a dealer you have 2 options:
- traditional lending source
- b - implies that the product will serve its purpose
- c - a product warranty created by the state law, all states have them
-every purchase you make is covered by Implied/written warranties
- 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 - pays for the damages to another vehicle or medical bills if its your fault
5 Multiple Choice Questions
- 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
- - is when a person makes regular payments to pay off a loan
-each payment pays the current interest due and pays down the principal amount of loans
- - protects your car from other types of damages
EX. weather, fire, theft
- - Annual percent rate= expressed as a true interest charged over the life of a loan, also it includes fees associated with the loan
- - protects your car and the other car in a accident
5 True/False Questions
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
What factors the cost of a product (name brand v. Generic) → - 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
types of people who need life insurance → - anyone who supports a family
Annual fees → - the amount you pay out of pocket before your insurance pays the clam
extend warranties → - a promise to preform/ pay for certain repairs or services.