Ch. 6 quiz

Which of the following are associated with a vehicle lease? Capitalized cost Money factor Payment schedule Residual value All of these choices are correct.

All of these choices are correct.

Which of the following is correct about the lemon law? It applies when a vehicle has been out of service for 60 days. It was enacted in 45 of the 50 states. It requires a refund for the vehicle after the owner has made repeated attempts to obtain financing. It applies to vehicles that have been serviced four times to correct the same problem or have been out of service for more than 30 days within 12 months of purchase or the first 12,000 miles. It applies to both new and used vehicle purchases.

It applies to vehicles that have been serviced four times to correct the same problem or have been out of service for more than 30 days within 12 months of purchase or the first 12,000 miles.

The text identifies several phases in the research-based buying process. The correct order of the phases is:

Pre-shopping activities, evaluating alternatives, selection and purchase, postpurchase activities

These products are sold by one chain of stores and are low-cost alternatives to famous-name products. Counterfeit brands Replacement brands National brands Private-label or store brands All of these choices are correct.

Private-label or store brands

Most products come with some guarantee of quality. Which of the following is usually in writing, created by the seller or manufacturer, and has two forms?

express warranty

The dealer's cost is also known as the:

invoice price

A process used to settle grievances in a nonbinding process is called a(n):

mediation

This shopping label is used primarily on perishable products to help the consumer judge freshness or shelf life.

open dating

Resolution of any purchase concerns is part of the ____ phase of the research-based buying process.

postpurchase activities

A partial refund of the price of a product is called a(n):

rebate