Management 434 - Business Negotiation » Spring 2022 » Chapter 13 Quiz

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Question #1
An owner, on average, keeps his car approximately ______ years, as shown by research.
A.   10
B.   3
C.   7
D.   5
Question #2
Included in the cost of ownership of a vehicle is:
A.   all are correct 
B.   gasoline
C.   repairs
D.   insurance
Question #3
When negotiating the purchase of a new vehicle, buyers often gain an advantage:
A.   in the middle of the month
B.   at the beginning of the month
C.   at the end of the month 
D.   the timing doesn't matter
Question #4
NADA is the acronym for:
A.   New Automotive Dealers Assembly
B.   New Automobile Dealers Association
C.   National Automotive Dealers Association 
D.   National Automotive Dealers Assembly
Question #5
When negotiating the purchase of a new vehicle buyers often gain an advantage in:
A.   December
B.   January
C.   September 
D.   April
Question #6
The cost of auto insurance includes all but one of the following:
A.   Age of the driver
B.   Geographic location
C.   Marital status
D.   Proximity to public safety 
Question #7
The last thing you should negotiate when purchasing a vehicle from a dealer is:
A.   Financing
B.   Trade-in 
C.   Price
D.   Rebates
Question #8
The expected mileage for cars annually is:
A.   8-10,000
B.   10-12,000 
C.   15-20,000
D.   12-15,000
Question #9
For a new vehicle, the MSRP is essentially the ________ .
A.   target point
B.   settlement point
C.   resistance point
D.   opening demand 
Question #10
In preparing for an auto negotiation which of the following would be least helpful?
A.   Autotrader
B.   NADA
C.   KBB
D.   FICO 

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