Personal Finance Quarter 4 Common Assessment

True or False. When financing a car, you can only put down a 20% down payment.

• True
• False

True or False. Interest on a loan is usually expressed as a percentage.

• True
• False

True or False. When purchasing a car, having a poor credit score would NOT impact the interest rate of a loan.

• True
• False

True or False. With car ownership, a periodic expense could be getting new brakes.

• True
• False

True or False. If you are ever involved in a car accident, you only need to file a police report if the accident was involves more than two cars.

• True
• False

True or False. Not making loan payments on time will bring down your credit score.

• True
• False

True or False. It is better to lease a car than purchase one.

• True
• False

True or False. The only place you can get a car loan is from the dealer.

• True
• False

True or False. You don't need to have car insurance if your car is older than 5 years.

• True
• False

True or False. There are different types of car insurance.

• True
• False