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5 Written questions

5 Matching questions

  1. Life insurance
  2. What factors the cost of a product (name brand v. Generic)
  3. warranty of fitness
  4. collision insurance
  5. Implied/written warranties
  1. a - brands indicate who the product was manufactured by or for
    -name brands are common household names and are advertised more and are also more expensive
    -store/ generic brands items manufactured for a specific food store. also they are not sold under a store or private label
  2. b - protects your car and the other car in a accident
  3. c - insurance that provides a monetary payment to a specify Beneficiary in the event a policyholder dies
    -It is regulated by state government
  4. d - a product warranty created by the state law, all states have them
    -every purchase you make is covered by Implied/written warranties
  5. e - holds the seller accountable for a recommend use.
    Ex. 0 degree sleeping bag will work in the winter

5 Multiple choice questions

  1. -stock life: owned by stockholders
    -mutual life: owned by policy holders who share profits
    -fraternal societies: EX. knights of Columbus, Free Masons
    -Federal government: veterans and members of uninformed services
  2. - pays for the damages to another vehicle or medical bills if its your fault
  3. there are 6 types:
    -limited coverage: fire, lighting, vandalism
    -basic coverage: falling objects, ice, etc.
    -comprehensive: Everything
    -renters: personal belongings in a condo
    -older homes: cash damages rather then what you paid
  4. - anyone who supports a family
  5. -indemnity plan: a private health care plan in which the policyholder is free to select his/her own health care provider
    -health maintenance org. (HMO): a managed health care plan that allows its members services preformed by Dr's and hospitals
    - preferred provider org. (PPO): a managed health care plan that offers medical benefits through a list of approved providers
    -Point of services (POS): a health insurance plan that has combined HMO's and PPO's
    -Dental insurance
    - vision insurance

5 True/False questions

  1. 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

          

  2. premiums for car insurance and deduables-stock life: owned by stockholders
    -mutual life: owned by policy holders who share profits
    -fraternal societies: EX. knights of Columbus, Free Masons
    -Federal government: veterans and members of uninformed services

          

  3. Open ended credit- a loan for a specific amount that must be paid back on or before a agreed date
    -mainly for car/home loans

          

  4. where does the profit for credit card companies come from?- brands indicate who the product was manufactured by or for
    -name brands are common household names and are advertised more and are also more expensive
    -store/ generic brands items manufactured for a specific food store. also they are not sold under a store or private label

          

  5. 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.

          

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