Ind Living Ch 5-8 test review

Which of the following best describes a want related to housing?

• Front door that locks securely

• Garage door with remote speaker

• running water

• roof that resists leaking

The most common breach of contract on the part of the renter is?

• Damage

• not knowing when the rent is due

• loud noise

• Misuse of facilities

Forcing a renter to leave the property before the rental agreement expires is called?

• Assigning the lease

• Breach of contract

• Eviction

• Foreclosure

As a general rule, a person can afford to spend ___ times his or her gross annual income for the purchase of a home.

• One and One half

• Two

• Two and one half

• Three

A ___ is likely to have the most space for the least oney

• Custom-built house

• house that was occupied

• newly built house

• studio apartment

When considering buying a pre-owned house___ is a serious defect to avoid.

• Cracked concrete foundation

• broken windows

• shabby yard

• all of the above

With___mortgages, the interest rate goes up or down periodically according to a national interest rate index.

• VA-Guaranteed

• Graduated payment

• Conventional

• Adjustable rate

With___ mortgages, cost less, fixed rate and the 3rd part is a Veteran of the US.

• Conventional

• Graduated payment

• Adjustable rate

• VA-Guaranteed

What are examples of fixed expenses?

• Eating out

• Utilities

• Mortgages

• B and C

Deposit that a potential buyer pays to show that he or she is serious about buying a house?

• appraiser

• earnest money

• down payment

• equity