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

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