Finance 341Class Assignment #24Name:________________________1. What is a policyholder with collision coverage on a 5 year old vehicle entitledto after an accident that damaged a fender?A. A new OEM fender B. An OEM fender off another 5 year old vehicle of the same modeltypeC. A new after-market fender (certified to be of like kind and quality)D. A 5 year old after-market fender off another vehicle (certified tobe of like kind and quality) ______________________________________Explain your answer._________________________________________________________________________________________________________________________________________________________________________________________________________________________________2. If you owned a 3 year old car that needed a new radiator, would you bring itto: A. the auto dealer where you bought the car and have OEM partsinstalled at a cost of $500B. an independent mechanic that could repair the problem with independent supplier parts for $300______________________________________3. Which would you select if you had to choose between:A. paying $800 per year for an insurance policy that would alwaysuseOEM crash parts for repairsB. paying $600 per year for an insurance policy that gave theinsurer theoption of repair the car with OEM parts or after-market parts oflikekind and quality _______________________________________Explain your
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