Unit 6: First Major Purchases Review

Which of the following up-front lease expenses is most likely to be refunded?

• First month’s rent

• Last month’s rent

• Security deposit

• Pet deposit

• Application fees

Which of the following maintenance issues is most likely going to be the responsibility of the tenant not the landlord?

• Replacing the carpet

• Painting the walls

• Replacing tiles in the kitchen

• Changing burned out light bulbs

Donovan is excited for his new apartment but was shocked at the amount of money he needed up front to sign his lease. The rent is only $900 a month. However, upon signing, Donovan had to pay first and last month’s rent, a $300 security deposit, and a $75 pet deposit. What amount did Donovan pay in total?

• $750

• $1,275

• $1,650

• $2,175

• $2,550

True or False: It is always a good idea to walk through an apartment before signing the lease.

• True

• False

True or False: Most apartment rent includes the cost of gas and electric utilities.

• True

• False

Which of the following is not a major cost of vehicle ownership?

• Insurance

• Fuel

• Repairs

• Maintenance

• Cleaning and detailing

Kaytlin is thinking about buying a new car but was shocked at the cost of insurance. She assumed it would be less expensive because it isn’t a luxury car and has good safety features. Which of the following most likely explains why her quote is so high?

• Kaytlin lives in downtown Houston.

• Kaytlin only drives about 700 miles a month.

• Kaytlin only took one driver’s safety course.

• Kaytlin has never made a claim against her insurance policies.

• Kaytlin is married with three children.

Which of the following describes a claim in terms of auto insurance?

• A car accident

• An insurance company paid out money for a customer’s policy.

• An insurance company pays tickets on a customer’s behalf.

• A person claims to own more cars than she really does.

• Law enforcement reports an accident or citation to the insurance company.

David is thinking about taking his family on a trip to Disney World. His car gets good gas mileage (28 mpg), and the drive is about 950 miles. What amount would it cost him to drive there and back if the average gas price along the way is $2.25?

• About $34

• About $76

• About $150

• About $2,100

• About $11,800

True or False:  To determine the affordability of a car, a person should consider only the monthly payment, gasoline, and insurance.

• True

• False