Auto Loan Basics: Chapter 6 quiz

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

If you think you’ve mastered the material in this chapter, take our quiz. After you click the ”submit” button, the answers will appear below.

    1. Liability coverage of 100/300/50 means that:
      The insurance company will pay $100,000 for any one person injured; $300,000 for all passengers injured; and $50,000 for property damage.
      The insurance company will pay 100 percent of any one person’s medical costs; $30,000 for all passengers injured; and 50 percent of property repair costs.
      The insurance company will pay a minimum of $50,000 to any one individual injured in an accident; $100,000 for property damage; and $300,000 for all injured passengers.
    2. You have an older car that would cost more to repair if crashed or stolen than it is worth. Do you need collision and comprehensive insurance?
    3. Which is
      not a way to save on auto insurance?
      Getting married
      Carrying the minimum coverage
      Buying a car with safety features
      Maintain a good driving record