Home and Vehicle Purchasing Assessment

Home and Vehicle Purchasing Assessment

Assessment

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Hard

Created by

Wayground Content

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the general rule of thumb for how long it takes to recoup home purchase costs? Options: 2-3 years, 3-4 years, 5-7 years, 8-10 years

Back

5-7 years

2.

FLASHCARD QUESTION

Front

Which of the following is NOT an advantage of buying a home? Home appreciation potential, Consistent mortgage payments, Tax benefits, Lower maintenance costs

Back

Lower maintenance costs

3.

FLASHCARD QUESTION

Front

According to the documents, which city is considered best for buying a home? Options: San Francisco, Cleveland, New York City, Seattle

Back

Cleveland

4.

FLASHCARD QUESTION

Front

What is typically the largest expense when purchasing a home? Options: Down payment, Closing costs, Property taxes, Utilities

Back

Down payment

5.

FLASHCARD QUESTION

Front

Which step comes FIRST in the home buying process? Options: Get preapproved for a mortgage, Find a real estate agent, Decide if you're ready to buy, Calculate affordability

Back

Decide if you're ready to buy

6.

FLASHCARD QUESTION

Front

What is NOT mentioned as a hidden cost when buying a car? Options: Destination charge, Insurance, Entertainment system, Sales tax

Back

Entertainment system

7.

FLASHCARD QUESTION

Front

According to Kelly Blue Book, what should you do LAST before buying a car? Options: Calculate what you can afford, Get the most out of your test drive, Research online, Know your shopping style

Back

Get the most out of your test drive

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