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5 Written questions

5 Matching questions

  1. Open ended credit
  2. minimum liability limits
  3. deductibles
  4. Captive finance companies
  5. credit card
  1. a - the amount you pay out of pocket before your insurance pays the clam
  2. 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
  3. 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
  4. d - a finance company owned by the parent company.
    -The purpose is to provide financing to costumer of parent companies that purchased there product.
  5. 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

  1. - a promise by the manufacture/merchant to stand by there product
  2. - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
    -It is regulated by state government
  3. - 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
  4. - pays for the damages to another vehicle or medical bills if its your fault
  5. 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
    -location
    -discounts

5 True/False questions

  1. Annual fees- a promise by the manufacture/merchant to stand by there product

          

  2. term life insurance- a amount of time you pay for life insurance.(10 yrs)
    -Most common

          

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

          

  4. comprehensive insurance- protects your car from other types of damages
    EX. weather, fire, theft

          

  5. interest rates- a promise by the manufacture/merchant to stand by there product

          

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