When a Closed-End Lease Expires

question 92

Multiple Choice

When a closed-end lease expires,

• A)you simply walk away because there are never any additional charges.
• B)you may have to pay an additional amount if the resale value of the car is less than anticipated.
• C)you may have to pay additional charges for excess mileage and damage to the vehicle.
• D)ownership of the car is transferred to the consumer.

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Definitions:

Industrial Injury

An injury or illness that occurs as a result of work or working conditions in an industrial environment.

Workers' Compensation

An insurance program that provides benefits to employees who suffer job-related injuries or illnesses.

Insurance Card

A physical or digital card provided by an insurance company that verifies an individual's coverage and policy details.

Predetermination

Refers to the discovery of the maximum amount of money the carrier will pay for primary surgery, consultation service, postoperative care, and so on.