Cars And Insurance Part 1 Question Preview (ID: 29587)


Review Of Cars And Insurance Unit In ARR. TEACHERS: click here for quick copy question ID numbers.

Justin got into a car accident. Before he could receive any help from his insurance company, he had to first pay a _____.
a) Premium
b) Deductible
c) Co-payment
d) Fee-for-service

Each month Melanie pays $50 for renter's insurance. This payment is called ____.
a) Premium
b) Deductible
c) Co-payment
d) Fee-for-service

An advantage of a shorter loan is that one will pay less in interest. The disadvantage is that the monthly payment will probably be higher.
a) True
b) False
c)
d)

If Bob's monthly car payment is $200 to the bank, the bank will not allow him to write a check for $300 each month to pay the loan off quicker.
a) True
b) False
c)
d)

Most car loans require one to pay interest; thus over time one ends up paying more than the price of the car.
a) True
b) False
c)
d)

Your car insurance costs will typically be lower once you turn 25.
a) True
b) False
c)
d)

It is possible to avoid a car payment each month by paying for the car with cash or a personal check when you buy it.
a) True
b) False
c)
d)

It is best to decide to purchase the car in the showroom at the dealership.
a) True
b) False
c)
d)

Friends and family are important in the pre-shopping research portion of the car buying process.
a) True
b) False
c)
d)

The first thing to do when planning to buy a car is to take a test drive.
a) True
b) False
c)
d)

Shannon lives in an apartment. She does not own the property, so she does not need to purchase any insurance.
a) True
b) False
c)
d)

Life insurance is wise to have when one has children.
a) True
b) False
c)
d)

Disability insurance is designed for people who are born with a disability.
a) True
b) False
c)
d)

A beneficiary is a person who would receive the the life insurance money if you were to pass away.
a) True
b) False
c)
d)

Good students who complete driver's education courses can often obtain auto insurance discounts.
a) True
b) False
c)
d)

As a general rule, spend 20% of your net monthly income on transportation.
a) True
b) False
c)
d)

The type of vehicle that is right for you depends on how you plan to use it and how much you can afford to pay.
a) True
b) False
c)
d)

A used car is almost always more reliable than a new car.
a) True
b) False
c)
d)

Used cars are less expensive to buy but will probably have more maintenance problems than new cars.
a) True
b) False
c)
d)

Which of the following is a step in the car buying process?
a) Pre-shopping research
b) Fitting the budget
c) Evaluating the decision
d) All of the above

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