Spring Semester 2023 Consumer Math Final

Renters insurance protects your ___________ while leasing.

Renters insurance covers extra living expenses if you live in temporary housing during ________.

Define landlord.

• A legally binding rental agreement.

• The owner of the property that is leased or rented to another.

• One who rents or leases a property from a landlord.

• Application fee.

Define tenant.

• A legally binding rental agreement.

• The owner of the property that is leased or rented to another.

• One who rents or leases a property from a landlord.

• Application fee.

Define lease agreement.

• A legally binding rental agreement.

• The owner of property that is leased or rented to another.

• One who rents or leases a property from a landlord.

• Application fee.

Which of the following is not considered an up-front cost?

• security deposit

• new furniture expense

• pet fees

• first and last month's rent

Define property value.

• The estimated price of a property.

• A loan a homebuyer obtains if unable to pay cash for a home.

• Insurance a person purchases to protect the contents and structure of a home.

• The difference between the appraised value and the balance on the mortgage loan.

Define mortgage.

• The estimated price of a property.

• A loan a homebuyer obtains if unable to pay cash for a home.

• Insurance a person purchases to protect the contents and structure of a home.

• The difference between the appraised value and the balance on the mortgage loan.

Define homeowners insurance.

• The estimated price of a property.

• A loan a homebuyer obtains if unable to pay cash for a home.

• Insurance a person purchases to protect the contents and structure of a home.

• The difference between the appraised value and the balance on the mortgage loan.

Define equity.

• The estimated price of a property.

• A loan a homebuyer obtains if unable to pay cash for a home.

• Insurance a person purchases to protect the contents and structure of a home.

• The difference between the appraised value and the balance on the mortgage loan.