A step toward purchasing an automobile?

Question:Hello there, please I have a quiz and I need help.Please don’t answer the question if you are not sure about it.Thank you so much.1- Which of the following is not a step toward purchasing an automobile?A- Determine affordabilityB- Shop for financingC- Analyze needs versus wantsD- Make a preliminary offer2- When picking out a car and determining needs versus wants, a person should ask him or herself all of the following questions except:A- How much cargo do you carry?B- Do you want a manual or automatic transmission?C- Do you need two-wheel drive, all-wheel drive, or four-wheel drive?D- All choices are correct.3- How much of a down payment do lenders require when purchasing a car?A- 10%B- 15%C- 20%D- 40%4- What is the disadvantage of buying a home?A- The value of your house may increase.B- Eventually, you will be able to live payment-free.C- The value of your house may decrease.D- You will gain equity by paying down your mortgage.5- What is a mortgage?A- The legal document used to allow a lender to use real property as collateralB- The difference between what is owned vs. what is owedC- The transfer of a lease agreement to a new tenantD- All of the choices are incorrect.6- Most lenders require how much of a down payment for a house?A- 30%B- 40%C- 20%D- No down payment7- Why might you have to pay private mortgage insurance (PMI)?A- You had more than three traffic violations in the past year.B- You put down less than 20% on your home.C- You live in a high-risk neighborhood.D- You have a history of defaults.8- What does HELOC stand for?A- Health expense license of CaliforniaB- Home equity line of creditC- Home equity liquidation of creditD- None of the answers are correct.9- Which is not an early warning sign of financial trouble to come in the future?A- Not having an emergency fundB- Paying only the minimum amount of a credit card billC- Not having a monthly budgetD- Investing in a 401(k) or a 403(b) plan10- What is the minimum amount of money you should have in your emergency fund account, and once you have that, what should your next goal be?A- $750; 3 months’ wagesB- $500; 4 months’ wagesC- $1,000; 6 months’ wagesD- $1,500; 6 months’ wages11- Which is a way to stop little financial leaks?A- Cutting couponsB- Pack your lunchC- Avoid the malls when bored or depressedD- All of the choices are correct.12- To keep yourself from using your credit card, you shouldA- destroy it.B- hide it.C- leave it at home.D- keep it in your wallet.13 – What strategy to help impulse buyers does the book suggest?A- The “ten-second hold” ruleB- Realistic budget evaluationC- The “do I need it?” strategyD- The stop and think strategy14 – Paying rent, gas, and utilities and buying groceries are examples of what kind of spending?A- NecessaryB- Non-essentialC- All of the choices are correct.D- None of the choices are correct.15 – What is the first step of digging out of debt?A- Create a realistic budgetB- Make payments on timeC- Stop using credit cardsD- Don’t try to buy stuff you can’t afford16- When foreclosure is likely, lenders want toA- get the owner out of the home so they can sell it and make a profit.B- work with the owner to negotiate payments.C- sell the home regardless of what the owner thinks.D- None of the choices are correct.