1. A service contract is very much like
A. insurance.
B. budgets.
C. credit.
D. investments.
2. Which is not a step in the planned buying process?
A. Prioritizing wants
B. Purchasing on credit
C. Preshopping research
D. Comparison shopping
3. Which of the following provisions is not legally required as part of a full warranty?
A. A product will be fixed at no cost to the buyer within a reasonable period of time.
B. A defective product that cannot be fixed after a reasonable number of attempts will be replaced or the money will be returned.
C. The warranty will cover the product for at least three years after purchase.
D. The owner will not have to undertake an unreasonable task to return the product for repair.
4. The dealer cost of new cars averages about ____ percent lower than the sticker price.
A. 12
B. 20
C. 10
D. 15
5. The term used to describe righting a wrong is
A. complaint.
B. negotiation.
C. warranty.
D. redress.
6. Owing more on a vehicle loan than the vehicle is actually worth is called being
A. upside down..
B. in default.
C. depreciation.
D. strangled.
7. The process of comparing products or services to find what you think is the best buy is called
A. decision making.
B. comparison shopping.
C. negotiating.
D. preshopping research.