VIP Exclusive
CAFM Certified Automotive Fleet Manager VIP Practice Exam III
CAFM — The CAFM (Certified Automotive Fleet Manager) credential is issued by the Automotive Fleet and Leasing Association (AFLA). The exam covers fleet acquisition, maintenance, fuel, remarketing, risk, policy, and financial management across approximately 100 questions with a 3-hour time limit and a 70% passing score.
54
Questions
120m
Time Limit
75.00%
To Pass
Question 1 of 54👑 VIP
A fleet manager is evaluating a 36-month closed-end operating lease versus a 36-month open-end finance lease for 50 sedans. The closed-end lease has a monthly payment of $420 with a guaranteed residual. The open-end lease carries a monthly payment of $390 but exposes the company to residual risk. Over the 36 months, the fleet manager projects that market conditions will erode residual values by approximately 12% below the lessor's projected residual. Which statement best describes the financial outcome of this scenario?
Questions 2–54 and full explanations are VIP-exclusive.