Personal Finance Courses: Vehicle Acquisition

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1.
The cost of ownership of a vehicle is the same as the price you paid for it.
Choose wisely. There is only one correct answer.
False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.
2.
If someone steals a precious ornament from the hood of your car, that theft would be covered under _______ coverage.
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Comprehensive. Comprehensive coverage pays for non-collision damages.
3.
When you lease a car, who pays for the insurance on it?
Choose wisely. There is only one correct answer.
You. You must pay for the insurance on it.
4.
Before you buy a car, you can get a pre-approved loan from a financial institution.
Choose wisely. There is only one correct answer.
True. This can be to your advantage when negotiating the terms of the deal.
5.
Your car's license plate establishes you as the legal owner of the vehicle.
Choose wisely. There is only one correct answer.
False. The title, not the license plate, does this.