Ch 6 review

Product labeling on appliances includes information on operating ____ to assist you in selecting the most energy efficient models.

costs

Which four items below are used in determine the cost of an automobile lease

Money factor --- the interest rate paid on the capitalized cost The monthly payments and the number of months Residual value - the projected value at the end of the lease Capitalized cost -- the price of the vehicle

A limited warranty covers only certain aspects of the product and requires the buyer to pay part of the costs for:

Shipping or repairs

in an (blank) action suit, all affected parties are notified as to whether or not they want to participate or file an individual lawsuit

class

An ____ warranty is in writing, is created by the seller or manufacturer, and has two forms: the full warranty and the limited warranty

express

Lemon laws protect car owners after three or four attempts to get the same problem corrected or when the vehicle is out of service more than ____ days within 12 months of purchase, or the first 12,000 miles.

30

Most consumer complaints are resolved:

At original location

Which three of the institutions are used for auto loans?

Credit Unions Banks Consumer finance companies

Which of the following three questions are considered when selecting a lawyer

Is the lawyer experienced in similar type of cases? How will charges be set? When is payment due?

Which three of the following are drawbacks of leasing an automobile?

No ownership interest in the vehicle Costs incurred for certain repairs Smaller cash outflows than buying

Which three of the following are examples of groups of people that might qualify for a class-action suit?

Patients who pay hundreds of dollars for non-generic drugs Auto owners charged for unneeded replacement parts for their vehicles People injured by a defective product