Personal Finance Courses: Vehicle Acquisition

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Liability coverage on an automobile insurance policy covers damages that you cause to _______.
Choose wisely. There is only one correct answer.
Other people. Liability covers others, not you. Other forms of coverage will cover you.
2.
When financing a car, your options include _______.
Choose wisely. There is only one correct answer.
All of the above. You have several available options.
3.
Most car leases state an annual mileage limit.
Choose wisely. There is only one correct answer.
True. The limit is usually between 10,000 and 15,000 miles.
4.
What is probably the biggest advantage of buying a used vehicle instead of a new one?
Choose wisely. There is only one correct answer.
The price. For most people, price is the biggest advantage.
5.
The price that a car dealership paid for a vehicle it bought is called the _______.
Choose wisely. There is only one correct answer.
Wholesale price. Dealers buy vehicles at wholesale prices and then resell them at retail prices.