123 of 241 9.07 Test Yourself The first questions below are the same questions asked in "What Do You Know?" at the beginning of this chapter. Try answering these questions again and compare your results with your earlier answers. Then, answer the additional questions. hoice wal riety of lp you t, such ents, ons, nd ions 1. Extended warranties must be backed or guaranteed financially to ensure their viability. List two methods by which this backing can be provided. 2. If a dealer wishes to offer their own uninsured extended warranty, they must provide to the Compensation Fund an irrevocable letter of credit in the amount of: a) $100,000 b) $250,000 c) $500,000 d) $1,000,000 3. Provide three pieces of information related to the coverage offered by the warranty that must be included in the warranty contract. 4. Dealers must send all payments and documents detailing the contract to the warranty company within: a) Two days b) Seven days c) Two weeks d) 30 days 5. True or False: Service plans must be backed by an insurance company. 6. Contracts for service plans must disclose in a dear, comprehensible and prominent manner: a) The goods and services provided under the plan and a specific description for each item listed b) All restrictions, limitations and conditions c) The locations at which the vehicle can be serviced d) Information stating whether or not the service plan is transferable to another owner or lessee c) All of the above