FINANCE AND INSURANCE

Question 1

WHICH OF THE FOLLOWING IS TRUE ABOUT NEGATIVE EQUITY?

Accepted Answer

THERE IS A MAXIMUM AMOUNT THAT CAN BE ABSORBED

Question 2

WHO IS MY FAVORITE FINANCE MANAGER

Accepted Answer

DEPENDS ON THE DAY

Question 3

WHICH OF THE FOLLOWING IS NOT A PRODUCT SOLD IN OUR FINANCE DEPARTMENT?

Accepted Answer

REPLACEMENT COST INSURANCE.

Question 4

WHO SETS THE DELIVERY APPOINTMENT

Accepted Answer

JOINTLY WITH FINANCE MANAGER AND PA

Question 5

FOR LEASING, CAPITAL COST REDUCTION % ON DOWN PAYMENT IS WHAT?

Accepted Answer

12%

Question 6

WHAT DO YOU SAY IF YOUR CLIENT ASKS "WHATS YOUR BEST INTEREST RATE" (USED CAR)

Accepted Answer

DEPENDS ON YOUR CREDIT HISTORY, INCOME LEVEL, DEBT LOAD, ETC

Question 7

WHEN SHOULD YOU FIRST MENTION TO YOUR CLIENTS ABOUT CHEMICAL PROTECTION

Accepted Answer

WALK AROUND ON THE NEW VEHICLE, APPRAISAL

Question 8

WHICH OF THE FOLLOWING IS NOT A FUNCTION OF THE FINANCE OFFICE?

Accepted Answer

ENSURE CUSTOMER HAS SELECTED THE RIGHT MODEL AND TRIM LEVEL

Question 9

HOW MUCH FOR A USED CAR WARRANTY?

Accepted Answer

FSM WILL TAILOR TO OWNER SPECIFIC NEEDS.

Question 10

DO YOU HAVE BETTER CUSTOMER RETENTION WHEN YOUR CUSTOMER FINANCES THROUGH THE DEALERSHIP?

Accepted Answer

YES

Question 11

WHATS THE FIRST THING YOU DO WHEN YOUR CUSTOMER COMES IN TO TAKE DELIVERY

Accepted Answer

ASK THEM IF THEY ARE SINGLE, SEAT THEM AT YOUR DESK, GET KMS ETC, INFORM FINANCE MANAGER

Question 12

TRUE OF FALSE: AS P.A.S YOUR JOB IS TO ALWAYS PRE-SELL FINANCE PRODUCTS

Accepted Answer

FALSE

Question 13

TRUE OF FALSE: THE PAYMENT ON $40K UNIT WILL ALWAYS BE MORE THEN ON A $10K UNIT.

Accepted Answer

FALSE

Question 14

WHICH OF THE FOLLOWING GROUPS OF COMPONENTS HAS A HIGHER CHANCE OF NEEDING REPAIR?

Accepted Answer

TECH FEATURES(NAVIGATION, MODULES AND COMPUTERS)

Question 15

WHICH OF THE FOLLOWING IS NOT TRUE ABOUT SUB-PRIME BUYERS

Accepted Answer

THEY ARE BAD PEOPLE, THEY DON'T DESERVE THE SAME RESPECT AS PRIME BUYERS

Questions 15