S2 AFA Personal Transportation Final Review

Measures of Central Tendency

• Mean: "average"

• Median: the center of the data

• Mode: Most common (Most Often)

How to Calculate

• Mean: Add all numbers and divide by how many data points you have.

• Median: Order the numbers least to greatest and find the middle. (If there are two, find the mean of these two.)

• Mode: Find the data value that occurs most often.

Multiple Choice

If Jamal has a monthly payment of $1,750 for 30 years, how much will he have paid over the course of the loan?

• $1,750

• $52,500

• $630,000

• $975,000

Multiple Choice

• $12.75
• $35
• $43.40
• $27.75

Multiple Choice

The straight line depreciation equation for a motorcycle is y=-2150x+17200. How many years will it take for the motorcycle to totally depreciate?

• 17

• 21

• 8

• 9

Multiple Choice

Gina purchased a new car for $54,000. She has determined that it straight line depreciates to zero over 10 years. When she purchased the car, she made an $8,000 down payment and financed the reset with a 4 year loan at 4.875%. Use the monthly payment formula from the last chapter to determine the monthly payment to the nearest cent. What is the expense function?

• y = 1056.74x + 8000

• y = -45x +54,000

• y = 1056.74x

• y = 1078 + 8000

Multiple Choice

Bert worked 49.25 hours this week. He gets paid $12.45 per hour for the first 40 hours and then gets time and a half for the rest of the time. How much money did he make this week?

• $613.16

• $785.91

• $670.74

Multiple Choice

How much would it cost to buy 47 cupcakes?

• 176.25

• 235

• 105.75

• undefined

Multiple Choice

Most automobiles depreciate as they get older. Suppose an automobile that originally costs $14,000 depreciates by 20% of its value every year. 
What is the value of this automobile after 5 years?

• $264,539.52
• $4.48
• $4,587.52
• $34,836.48

Multiple Choice

Suppose that you purchase a car for $27,000. According to your online research, this make and model of car loses all of its marketable value after 12 years. Write the straight line of depreciation for this car.

• y=12x + 27,000

• y=27,000x + 2250

• y=2250x+27,000

• y=-2250x +27,000

Multiple Choice

The straight-line depreciation equation for a luxury car is y= -3,400x+85000. How much value does the car lose per year?

• 3,400

• 85,000

• 6,800

• 81,600

Multiple Choice

The straight-line depreciation equation for a luxury car is y= -3,400x+85000. How many years will it take for the car to totally depreciate?

• 34

• 85

• 25

• 8

Multiple Choice

An type of car insurance policy that provides complete protection.

• Deductible

• Comprehensive

• Liability

• Total

Multiple Choice

The types of events (losses) that an insurance company would pay for and the amount of money paid for the loss.

• Premium

• Deductible

• Coverage

• Claim

Multiple Choice

The amount you must pay on a claim before the insurance company will pay.

• Premium

• Policy

• Loss

• Deductible

Multiple Choice

Chance or possibility of injury, damage, or loss that someone may want an insurance policy to cover.

• Debt

• Risk

• Premium

• Agent

Multiple Choice

Of the four parts of auto insurance coverage, which part protects only the other person involved in an accident?

• Liability
• Comprehensive
• Collision
• Medical Payments/Bodily Injury

Multiple Choice

What Do These Numbers (25/50/25) Mean On My Auto Policy?

• You would pay up to $25,000 for one person’s injuries, up to $50,000 for everyone’s injuries added together.

• $25,000 per accident , $50,000 per person and $25,000 property damage 

• $25 per person, $50 per accident and $25 property damage 

• $25,000 per person, $50,000 per accident and $25,000 property damage 

Multiple Choice

When looking at the number 25/45/15. What does the 25 represent ?

• Per person bodily injury limit

• Per accident bodily injury limit

• Per accident property damage limit

Multiple Choice

When looking at the number 25/45/15, what does the 45 represent?

• Per person bodily injury limit

• Per accident bodily injury limit

• Per accident property damage limit

Multiple Choice

When looking at the numbers 25/45/15, what does the 15 represent?

• Per person bodily injury limit

• Per accident bodily injury limit

• Per accident property damage limit

Multiple Select

You backed out of your driveway and hit a car coming down the street. No one was hurt, but there was damage to the car on the street.

• Uninsured/underinsured Motorist Protection

• Property Damage Liability

• Car Rental Insurance

• Collision

• Bodily Injury Liability

Multiple Select

You need a car to get to work everyday, but your car is in the shop for a week from an accident you had a few days ago.

• Uninsured/underinsured Motorist Protection

• Property Damage Liability

• Car Rental Insurance

• Collision

• Bodily Injury Liability

Multiple Select

Another vehicle ran a red light and hit your car, but they didn’t have car insurance.

• Uninsured/underinsured Motorist Protection

• Property Damage Liability

• Comprehensive

• Collision

• Bodily Injury Liability

Multiple Select

On your way home from the beach, you were changing lanes on the parkway and hit another car. The passenger in the other car was injured and needed medical attention.

• Uninsured/underinsured Motorist Protection

• Property Damage Liability

• Comprehensive

• Collision

• Bodily Injury Liability

Multiple Select

Your car was parked outside of your house last night, and someone smashed the windshield with a bat.

• Personal Injury Protection

• Property Damage Liability

• Comprehensive

• Collision

• Bodily Injury Liability

Multiple Choice

What is a good question before buying auto insurance

• How much do I drive

• Where am I right now

• What am I wearing

• What color is my car

Multiple Choice

What is auto insurance mainly based on

• your cars color

• where you bought your car

• how much you eat

• the model and year of your car and how you drive

Multiple Choice

Driving records can determine the cost of your auto insurance

• True

• False

Multiple Choice

Joe purchases a liability insurance plan of 150/400/100. What does the 400 in this plan mean?

• The most the insurance company will pay is $400 per accident for other people's medical expenses due to accident that was Joe's fault.

• The most the insurance company will pay is $4,000 per person for that person's medical expenses due to accident that was Joe's fault.

• The most the insurance company will pay is $400,000 for any damages that occurred due to accident that was Joe's fault.

• The most the insurance company will pay is $400,000 per accident for other people's medical expenses due to accident that was Joe's fault.

Multiple Choice

A large tree limb fell onto your car during a storm damaging the car's roof. Which type of auto insurance would cover the cost to have your car repaired?

• liability insurance

• medical insurance

• comprehensive insurance

• collision insurance

Multiple Choice

What is an insurance premium?

• responsibility for others' losses in an accident you caused

• The cost of insurance coverage

• The amount you have to pay before the insurance will pay a claim.

• A chance that one takes

Multiple Choice

What is a claim?

• required, compulsory

• the cost of insurance

• a chance that one takes

• a request for payment by an insured person to an insurer to cover losses

Multiple Choice

Which DOES NOT affect the cost of car insurance?

• age

• driving history

• where a person lives

• a person's job

• amount of miles you drive

Dropdown

This kind of coverage is great for new and/or expensive cars, since repairing even small damage can be incredibly costly. The damage doesn’t even have to be from an accident with another driver. If you hit an animal, or your car is stolen, or a tree falls on it, you are still covered! This is..

Select answer

Multiple Choice

The higher the deductible the lower the premium

• True

• False

Multiple Choice

A type of car insurance that covers accident damage to your OWN motor vehicle is

• collision

• comprehensive

• bodily injury

• uninsured motorist

Multiple Choice

Peter has collision insurance with a $1,000 deductible. Peter backs his car into a lamppost and causes $4,300 worth of damage to the car. How much will Peter have to pay?

• $4,300

• $1,000

• $3,300

• $0

Multiple Choice

It is your choice whether you buy car insurance or not.

• True

• False

Multiple Choice

Liable means

• responsible

• at fault

• law

Multiple Choice

Peter backed into a lamppost and caused $4,300 worth of damage. He has a collision policy with a $1,000 deductible. How much will the insurance company pay?

• $4,300

• $1,000

• $3,300

• $0

Multiple Choice

Who would pay more for insurance, generally speaking?

• a 21 year old male

• a 26 year old female

• a 55 year old male

• a 55 year old female

Multiple Choice

Mr. Martin's car is vandazlied. The damages are going to cost $1,350. Mr. Marvulli has comprehensive insurance with a $500 deductible. How much will the insurance company pay?

• $1,350

• $500

• $850

• $0

Multiple Choice

John has comprehensive and collision insurance with a $500 deductible. A tree falls on his car and caused $2,800 in damage. How much will his insurance pay for?

• $2,800

• $2,300

• 0

• Cannot be determined