5 Written questions
5 Matching questions
- Life insurance
- premiums for car insurance and deduables
- liability insurance
- comprehensive insurance
- a - Annual percent rate= expressed as a true interest charged over the life of a loan, also it includes fees associated with the loan
- b - pays for the damages to another vehicle or medical bills if its your fault
- 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
- driving record
- d - protects your car from other types of damages
EX. weather, fire, theft
- 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
- - a product warranty created by the state law, all states have them
-every purchase you make is covered by Implied/written warranties
- -the amount you pay for insurance
- - they charge discount to the merchant (2%-3%)
- charging interest/ annual fees (6%-24%)
- - anyone who supports a family
- - protects your car and the other car in a accident
5 True/False questions
5 types of health insurance → there are 6 types:
-limited coverage: fire, lighting, vandalism
-basic coverage: falling objects, ice, etc.
-renters: personal belongings in a condo
-older homes: cash damages rather then what you paid
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
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.
warranty of merchantability → - holds the seller accountable for a recommend use.
Ex. 0 degree sleeping bag will work in the winter
loan amortization → _____ are the amount of interest per year expressed as a % of the amount borrowed.