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5 Written questions

5 Matching questions

  1. interest rates
  2. Captive finance companies
  3. types of people who need life insurance
  4. liability insurance
  5. Life insurance
  1. a - anyone who supports a family
  2. b - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
    -It is regulated by state government
  3. c _____ are the amount of interest per year expressed as a % of the amount borrowed.
  4. d - pays for the damages to another vehicle or medical bills if its your fault
  5. 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

  1. - implies that the product will serve its purpose
  2. - a loan for a specific amount that must be paid back on or before a agreed date
    -mainly for car/home loans
  3. - a promise to preform/ pay for certain repairs or services.
  4. 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
  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

5 True/False questions

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


  2. warranty of fitness- a promise by the manufacture/merchant to stand by there product


  3. 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


  4. leasing/ buying a car and the types of loansif you buy a car from a dealer you have 2 options:
    - traditional lending source
    -dealer financing


  5. 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