Flashcard on Various Topics

Front

What is property damage liability insurance?

Back

Property damage liability insurance is a type of insurance that covers the costs associated with damage that the insured person causes to someone else's property.

Front

How do you calculate the total amount owed in a liability insurance claim?

Back

To calculate the total amount owed, sum the costs of all damages caused by the insured party, ensuring it does not exceed the insurance coverage limit.

Front

What is the term for selling an asset for less than its actual worth due to urgency?

Back

Sacrifice.

Front

How do you calculate the final price of a purchase including sales tax?

Back

To calculate the final price, multiply the purchase price by the sales tax rate, then add that amount to the original price.

Front

What is the formula to calculate the cost of an advertisement based on its length?

Back

The cost of an advertisement is calculated by adding the base cost for a certain number of lines to the additional cost for any extra lines.

Front

What is a surcharge?

Back

A surcharge is an additional fee added to the original price of a service or product.

Front

What is the significance of understanding insurance coverage limits?

Back

Understanding insurance coverage limits is crucial to know how much protection you have in case of an accident or damage.

Front

What factors can affect the value of a used car?

Back

Factors that can affect the value of a used car include its age, condition, mileage, market demand, and any modifications or repairs.

Front

How do you determine the cost of running an ad for multiple weeks?

Back

To determine the cost of running an ad for multiple weeks, multiply the weekly cost of the ad by the number of weeks it will run.

Front

What is the impact of sales tax on consumer purchases?

Back

Sales tax increases the total cost of a purchase, affecting the final amount a consumer pays.