1. Test Drive your knowledge! See how much you know about loans. Click the ignition button to begin!

2. What does APR stand for? Click on the best response Annual Percentage Rate Actual Purchase Right A Poor Review Anonymous Person in Retail

3. Correct! Sunny skies ahead! APR stands for Annual Percentage Rate. It’s the annual interest total on you loan.

4. Incorrect! Watch out for rain! APR stands for Annual Percentage Rate. It’s the annual interest total on you loan.

5. What is the best definition for True Market Value? Click on the best response The dealerships best offers The price at which similar cars are being sold for The pledge dealers take before working with you to buy a car Local deals

6. Correct! Sunny skies ahead! True Market Value is the price at which cars similar to the one you are interested in are being sold. This could be a handy tool when negotiating.

7. Incorrect! Watch out for rain! True Market Value is the price at which cars similar to the one you are interested in are being sold. This could be a handy tool when negotiating.

8. Choose the best example of a good loan Click on the best response A low interest rate with a pre-payment penalty An affordable monthly payment with a competitive interest rate A low monthly payment payable in 600 months All of the above

9. Correct! Sunny skies ahead! A good loan is one that has an affordable monthly payment with a competitive interest rate for your payment term.

10. Incorrect! Watch out for rain! A good loan is one that has an affordable monthly payment with a competitive interest rate for your payment term.

11. Which of the following is a bad loan? Click on the best response A loan with a low late penalty fee A loan with add-on insurance A loan payable in 36 months A loan with a low interest rate

12. Correct! Sunny skies ahead! A bad loan can be one with a high late penalty fee and/or add-on insurance because your loan payments will be higher.

13. Incorrect! Watch out for rain! A bad loan can be one with a high late penalty fee and/or add-on insurance because your loan payments will be higher.

14. How can a low credit score impact my loan? Click on the best response Higher Annual Percentage Rate Denied a loan Hard to get Approved for a loan All of the above

15. Correct! Sunny skies ahead! A low credit score can prevent you from getting a good interest rate on your loan or from getting a loan at all.

16. Incorrect! Watch out for rain! A low credit score can prevent you from getting a good interest rate on your loan or from getting a loan at all.

17. Here is your score: Thanks for test driving with us! You may now exit. Power point does not have the capability to count score but most eLearning authoring tools do.