Chapter 9 Vocab Quiz

Pays for damage to the insured vehicle from losses due to fire, vandalism, theft, and just about any other cause other than an accident.

• rent

• comprehensive insurance

• annual premium

• collision insurance

Agreeing to pay a set fee for the use of property, often on a daily, weekly, or monthly basis.

• base price

• dealers cost

• fixed costs

• rent

The price of the engine, chassis, and any other standard equipment for a particular model, referred to as the manufacturer's suggested retail price or MSRP.

• base price

• fixed costs

• sticker price

• closed-ended lease

Provides financial protection to the policyholder against claims for bodily injury and property damage as a result of an accident

• annual premium

• comprehensive insurance

• liability insurance

• depreciation

A contract allowing you the use of property for a set time period by making a specified number of payments. At the end of the contract you can purchase the item for its residual value

• open-ended lease

• sticker price

• closed-ended lease

• base price

Costs that increase as the number of miles driven increase

• fixed costs

• depreciation

• variable costs

• destination charge

The actual price paid for a vehicle, usually expressed as a percent of the base price, plus a percent of the options price, plus destination charge

• sticker price

• rent

• comprehensive insurance

• dealers cost

Pays for damage to the insured vehicle caused by an accident with another vehicle or object

• collision insurance

• open-ended lease

• deductible clause

• base price

Required by law to be displayed on a new vehicles window and includes base price, options and destination charges

• base price

• sticker price

• annual premium

• variable costs

A contract that allows you the use of property for a set time period by making a specified number of payments

• base price

• fixed costs

• closed- ended lease

• dealers costs