5 Written questions
5 Matching questions
- interest rates
- Captive finance companies
- types of people who need life insurance
- liability insurance
- Life insurance
- a - anyone who supports a family
- b - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
-It is regulated by state government
- c _____ are the amount of interest per year expressed as a % of the amount borrowed.
- d - pays for the damages to another vehicle or medical bills if its your fault
- e - a finance company owned by the parent company.
-The purpose is to provide financing to costumer of parent companies that purchased there product.
5 Multiple choice questions
- - implies that the product will serve its purpose
- - a loan for a specific amount that must be paid back on or before a agreed date
-mainly for car/home loans
- - a promise to preform/ pay for certain repairs or services.
- 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
- 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
warranties → - a promise to preform/ pay for certain repairs or services.
warranty of fitness → - a promise by the manufacture/merchant to stand by there product
types of home coverages → - actual cost value: cost of replacement
-replacement cost: full cost of repaired damage
-extended replacement cost: full cost of replacing/ rebuilding outside limits
leasing/ buying a car and the types of loans → if you buy a car from a dealer you have 2 options:
- traditional lending source
loan amortization → - 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