7.1-7.3 Practice - Cars

MSRP stands for

• Manufactured standard retail price

• Manufacturer's suggested retail price

• Manufacturer's standard road price

• Manufacturer's suggested road price

Sticker Price =

• Base Price + Options + Destination Charge

• Average Retail Value + Additional Options - Options Deductions - Mileage Deduction

• Liability Premium + Collision Premium + Comprehensive Premium

• Annual Base Premium x Driver Rating Factor

Annual Base Premium =

• Base Price + Options + Destination Charge

• Average Retail Value + Additional Options - Options Deductions - Mileage Deduction

• Liability Premium + Collision Premium + Comprehensive Premium

• Annual Base Premium x Driver Rating Factor

Average Retail Price =

• Base Price + Options + Destination Charge

• Average Retail Value + Additional Options - Options Deductions - Mileage Deduction

• Liability Premium + Collision Premium + Comprehensive Premium

• Annual Base Premium x Driver Rating Factor

Annual Premium =

• Base Price + Options + Destination Charge

• Average Retail Value + Additional Options - Options Deductions - Mileage Deduction

• Liability Premium + Collision Premium + Comprehensive Premium

• Annual Base Premium x Driver Rating Factor

River City Autos has a pickup truck for sale. Its base price is $22,225. Prices for the options you add on are: 6-speed transmission for $2,908, cruise control for $240, trailer towing package for $230, and power windows for $738. If the destination charge is $900, what is the sticker price?

• $27,241

• $28,119

• $27,982

• $26,818

You're buying a used 4-year old V6 four-door sedan with an average retail value of $17,800. When compared to the base model, this sedan has keyless entry worth $500 and the safety package worth $2,400. But, it has been drive 42,510 miles so deduct $4,000. What is the average retail price of the used sedan?

• $15,660

• $15,500

• $16,700

• $16,770

Liability Insurance is required

• True

• False

Collision Insurance pays for damages to

• my car

• the other person's car

• the other person's body

• my body

Liability insurance is listed as three numbers. For example, 25/50/100. In 25/50/100, the 100 means

• $100,000 for property damage

• $100 for liability coverage

• $100,000 for bodily injury for 1 person

• $100,000 for bodily injury for more than 1 person