Mortgages

Mortgages

11th Grade - University

10 Qs

quiz-placeholder

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CHAPTER 4: SELF-CONCEPT, PERCEPTIONS, & ATTRIBUTIONS

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Mortgages

Mortgages

Assessment

Quiz

Other

11th Grade - University

Practice Problem

Hard

Used 30+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

A mortgage is an unsecured loan used to buy a home or a flat?

True
False

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

The normal _______ for a mortgage is up to 30 years

Term
Interest Rate
Principle
Loan

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

With this type of mortgage the borrower puts money aside each month into some form of investment, so that they can repay the capital at the end of the mortgage term 

Repayment
Interest Only
Offset

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

The most straightforward type of mortgage where the monthly repayments go towards both the capital and the interest

Offset
Interest Only
Repayment

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

A mortgage where you can use your savings to reduce the amount of interest that you have to pay 

Repayment
Interest Only
Offset

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

In the early years of repaying a 30-year repayment mortgage,

equal amounts go towards repaying the principal and interest.
most of the payment goes towards repaying the principal.
most of the payment goes towards repaying the interest.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What is usually the maximum amount that a mortgage lender will allow an individual to borrow?

3 times annual salary
6 times annual salary
4.5 times annual salary
The price of the property

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