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BSAD Exam 3 questions with 100% correct answers rated A+
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BSAD Exam 3 questions with 100% correct answers rated A+
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BSAD Exam 3Unit Pricing - correct answer ✔✔uses a standard unit of measurement to compare the prices of
packages of different sizes.
Full warranty vs. limited warranty vs. implied warranty - correct answer ✔✔- Full Warranty: a defective
product can be fixed or replaced during a reasonable amount of time.
- Limited Warranty: covers only certain aspects of the product, such as parts, or requires the buyer to
incur part of the costs for shipping or repairs
- Implied Warranty: covers a product's intended use or other basic understandings that are not in writing
Certified pre-owned (CPO) - correct answer ✔✔nearly new cars that come with the original
manufacturer's guarantee of quality
- originally created to generate demand for the many low-mileage vehicles returned at the end of a lease
What does leasing a car mean? - correct answer ✔✔Leasing a car is a contractual agreement with
monthly payments for the use of an automobile over a set time period, typically three, four, or five years.
At the end of the lease term, the vehicle is usually returned to the leasing company.
Who owns the leased car? - correct answer ✔✔The leasing granting company owns the leased car.
Capitalized Cost - correct answer ✔✔the price of a car that is being leased
Residual Value - correct answer ✔✔the amount the company expects to receive from selling the asset at
the end of its service life (also known as salvaged value)
When buying a car what is the sticker price? The invoice price? - correct answer ✔✔The sticker price is
manufacturer's suggested retail price listed on a sticker in a new car's window.
, The invoice price is what the car dealer paid the manufacturer for the car.
What are car buying services? How do they work? - correct answer ✔✔Car buying services are
businesses that help buyers obtain a specific new car at a reasonable price. Also referred to as an auto
broker, these businesses offer desired models with options for prices ranging between $50 and $200
over the dealer's cost.
Largest fixed expense associated with a new car? - correct answer ✔✔The largest fixed expense
associated with a new car is depreciation.
What does "upside down" mean? - correct answer ✔✔Upside Down means the value of a car is less than
what you still owe on a car.
What is a "lemon law" - correct answer ✔✔Lemon laws are laws that protect buyers of vehicles with
serious defects. For example, if a car requires 4 services in 12 months of purchase before 12,000 miles.
What is arbitration? - correct answer ✔✔Arbitration is settling a dispute by agreeing to accept the
decision of an impartial outsider.
What claims are handled in small claims court? - correct answer ✔✔Claims handled in small claims court
involve amounts below a set dollar limit. The maximum varies from state to state, ranging from $500 to
$10,000; most states have a limit of between $1,500 and $3,000.
What is a class action lawsuit? - correct answer ✔✔A class action lawsuit is a case brought by someone
to help him or her and all others who are similarly situated.
If you expect to say in the same place fewer than ________ years, it makes sense to rent your place of
residence. Why? - correct answer ✔✔- 5 to 7 years
- That's generally long enough to recoup the upfront cost to get a mortgage and the back-end costs to
sell and pay an agent's commission
How do you figure the price-to-rent ratio? - correct answer ✔✔- Price-to-rent ratio: the median sale
price of a home divided by the aver-age annual rent for a comparable one.
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