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of 34 available terms

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5 Written Questions

5 Matching Questions

  1. Implied/written warranties
  2. leasing/ buying a car and the types of loans
  3. warranty of merchantability
  4. Captive finance companies
  5. liability insurance
  1. a if you buy a car from a dealer you have 2 options:
    - traditional lending source
    -dealer financing
  2. b - implies that the product will serve its purpose
  3. c - a product warranty created by the state law, all states have them
    -every purchase you make is covered by Implied/written warranties
  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 - pays for the damages to another vehicle or medical bills if its your fault

5 Multiple Choice Questions

  1. 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
  2. - 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
  3. - protects your car from other types of damages
    EX. weather, fire, theft
  4. - Annual percent rate= expressed as a true interest charged over the life of a loan, also it includes fees associated with the loan
  5. - protects your car and the other car in a accident

5 True/False Questions

  1. 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

          

  2. 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

          

  3. types of people who need life insurance- anyone who supports a family

          

  4. Annual fees- the amount you pay out of pocket before your insurance pays the clam

          

  5. extend warranties- a promise to preform/ pay for certain repairs or services.

          

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