| A | B |
|---|
| pre-approval | the process of finding out how much money you can borrow |
| sticker price | the suggested retail price which is displayed in printed form on the vehicle |
| test drive | driving a vehicle before buying--comparing ride, handling, features, and cost at various different dealers |
| vehicle emission test | a test that assures a car meet minimum clean air standards |
| VIN (Vehicle Identification Number) | a unique identifying number on a vehicle |
| dealer add-ons | high-priced, high-profit dealer services with little or no value |
| leasing | a contractual agreement which allows monthly payment for the use of a vehicle, without ownership |
| depreciation | the decline in value of a vehicle during its lifetime |
| car title (title) | lists the legal owner and the registered owner of the vehicle |
| oxidizing | the process of permanently losing color and shine |
| abrasives | coarse and strong chemicals which can damage the paint on a car |
| upholstery | a car's covering on the seats--it must be maintained to preserve it |
| warranty | a written guarantee of the soundness of a product |
| lemon laws | laws which protect consumers who buy cars that are identified as being unrepairable |
| polishing compound | this can be used to ride the surface of a car of scratches, scuffs, and stains |
| hybrid | a type of vehicle that uses alternate energy sources |
| buyer's guide | a sticker that dealer's are required to place on a car--it's required by the FTC |
| homeowner's insurance | insurance that protects you from loss in the event your home is damaged or destroyed |
| liability insurance | insurance coverage that protects you from claims fr damages to another person or their property |
| renter's insurance | an insurance policy that protect personal possessions kept on someone else's property |
| attractive nuisance | a dangerous place, condition, or object that is especially attractive to children |
| collision | this insurance coverage covers damage to your car in an accident if you are at fault |
| comprehensive | this insurance coverage covers damages to your car other than being hit or upse |
| endorsement | a written amendment (extended coverage) to an insurance policy |
| adjustors | they people from the insurance company determine the value of what was destroyed or damaged by fire or other event causing loss |
| personal injury protection | medical, hospital, and funeral costs of the insurance and his or her family and passengers is called this |
| misdemeanors | serious traffic offenses which will result in increased insurance premium |
| no-fault insurance | laws which provide for the the repair or replacement of your car by your own insurance company, regardless of who was at fault in an accident |
| surcharge | an increased premium for one to three years, due to an insurance claim based on fault is called this |
| assigned risk pool | a person unable to obtain insurance |
| umbrella policy | an insurance policy which supplements basic personal liability coverage |
| health insurance | a plan for sharing the risk of financial loss resulting from an accident or illness |
| coordination of benefits | when benefits from more than one health plan are limited to 100 percent of medical costs |
| life insurance | provides protection from financial loss that might otherwise occur when a person dies |
| beneficiaries | people who will inherit money at the death of the insured |
| incontestability | with this clause, insurance cannot be cancelled during a specified period of time |
| renewable | a term insurance policy which gives the policyholder the right to renew each year, withhout having to pass a physical exam |
| rider | a small insurance policy that modifies the coverage of the main policy |
| preferred provider organization | a group of health care providers who band together to provide health services for set fees |
| (HMO) health maintenance organization | a group health insurance plan offering prepaid medical care to its members |
| group plan | the most common type of health insurance |
| straight life | a insurance policy whereby premiums are paid throughout the lief of the insured |
| basic health insurance | the three types of insurance--medical, hospital, surgical |
| mortality | a prediction of how long people will live |
| guaranteed insurability | a rider which gives the policyholder the right to buy a new policy or additional coverage without evidence of good health |
| waiver of premium | a rider which allows you to stop paying premiums and keep your coverage in force if you become disabled |
| term | a type of life insurance protection for a specified period of time |
| cash value | an amount available to borrow or at cancellation when you own a permanent life insurance policy |
| universal life | a type of permanent insurance which has premium and a death benefit that is not fixed |
