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Chapter 6- Sections 6-4 to 6-8-Review

Authored by Moniereh Anvari

Financial Education

12th Grade

Used 9+ times

Chapter 6- Sections 6-4 to 6-8-Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A lease is a contract made between the company that owns a car and the person who will be given the right to use the car.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A car's sticker price is also called the Manufacturer's Suggested Retail Price (MSRP).

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The expected value of the car at the end of the lease period called Residual Value.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is typically NOT associated with leasing a car?

Trade -in Value

Down payment

Residual value

Mileage allowed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which basic homeowners insurance category covers the extra costs of living incurred when your home is unavailable due to damage?

personal liability

personal property

dwelling

additional living expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which basic homeowners insurance category protects you in case of lawsuits by persons injured on your property?

personal liability

personal property

dwelling

additional living expense

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mark insures his house for $88,500. Mark insurance company charges $0.53 per $100 for the policy.

what will be the annual premium? Round your answer to nearest dollar.

Note: (Price of the house ÷\div 100) X Charges per $100

$469

$490

$510

$625

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