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Indiana Department of Financial Institutions

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Amber Alert - TEST

DFI > Education > Education Information > Consumer Credit Education > Quizzes > Buying a Car Quiz Buying a Car Quiz

1. TV ads are the best source of information?

True False

2. Credit is given because you are trusted.

True False

3. Interest is what you must have in order to get credit.

True False

4. A person's fixed expenses in a budget would include a car payment.

True False

5. New car scheduled maintenance should include accurate record keeping.

True False

6. What does depreciation mean?

Discount some dealers give.

Decrease in a car loan.

Decrease in the value of the car because of its age.

Increase in the value of a car.

7. Three things you should look for when going for a test drive.

Radio, CD Player, and lighter.

Check brakes, transmission, and body.

Upholstery, mats, and interior light.

Rearview Mirror, Outside Mirror, and lights.

8. Name two places you can buy a car other than a dealer.

Private owner and auction.

Buy-Here-Pay-Here and auto repair shop.

Loan company and insurance company.

9. Name three characteristics insurers look at when setting insurance rates.

Age of car, size of car, and cost of car.

Driver's employment, school records, and drivers ed.

Age of driver, driver's records, and safety features of car.

10. What does APR stand for?

A Purchase Risk

Another Price Reduction

Annual Percentage Rate

Buying A Car Quiz Answers

  1. FALSE
  2. TRUE
  3. FALSE
  4. TRUE
  5. TRUE
  6. Decrease in the value of the car because of its age
  7. Check brakes, transmission, and body
  8. Private owner and auction
  9. Age of driver, driver's records, and safety features of car
  10. Annual Percentage Rate