Chapter 2 Review

A realistic interest rate on an automobile loan is _____%.

• 8

• 24

• 48

• 64

Which of the following is NOT a common place to purchase an automobile?

• Dealership

• Online

• Farmer's Market

• Private Parties

The MSRP is commonly called the _________.

• Dealer cost

• dealer invoice

• Factory holdback

• Sticker Price

If you do not have any credit or are under 18, you may need to have someone ________ the loan with you.

• Pay on

• Co-sign

• read

• negotiate

. If you earn $9 an hour and work 30 hours, what would be your gross income in one week?

• 230

• 270

• 300

• 330

Which of the following is NOT one of the consumer reporting companies?

• TransUnion

• Equifax

• Experian

• MyCredit

What type of sticker may list dealer installed items like fabric and paint ?

• dealer addendum sticker

• Monroney sticker

• part content sticker

• economy sticker

What type of label includes greenhouse gas and smog ratings?

• dealer addendum label

• Monroney label

• Fuel economy and environment label

• Pollution label

The ________________ is an independent non-profit organization (funded by auto insurance companies) that conducts tests to reduce injuries, deaths, and property damage from crashes.

• a. National Motor Vehicle Title Information System

• b. Insurance Institute for Highway Safety

• National Highway Traffic Safety Administration

• U.S. Department of Energy

The ________________ is a governmental agency in the United States that uses a 5-star rating system to evaluate vehicles.

• a. National Motor Vehicle Title Information System

• b. Insurance Institute for Highway Safety

• c. National Highway Traffic Safety Administration

• d. U.S. Department of Energy