
E Learning Loans Week in Review
Authored by Akta Naik
Other
12th Grade
CCSS covered
Used 1+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What happens to the loan amount when you put down a larger down payment?
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What happens to the cost of a loan when the APR is higher?
Tags
CCSS.6.RP.A.3A
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the consequence of having a poor credit score?
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
I avoid paying a PMI if I make a down payment of __________________ or more.
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
You want to pay less in overall interest. Every loan APR is the same. Select the best mortgage for you.
Tags
CCSS.8.F.A.2
CCSS.HSF.IF.C.9
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percent of your monthly NET income should your monthly mortgage, taxes, and insurance be?
45% - 50%
40% - 45%
35% - 40%
Less than 35%
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Mark the following items that everyone is required to pay on a mortgage loan
HOA
PMI
Taxes
insurance
principal payment
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