Chapter 10 Vocab Quiz

The percent of property value collected; often expressed in mills per dollar

• medical coverage

• tax rate

• real estate taxes

• security deposit

Protects you as a homeowner from accidents caused by negligence

• personal liability coverage

• assessed value

• closing costs

• replacement value

a number assigned by an insurance company to a building that reflects how close to a water source it is

• market value

• loss-of-use coverage

• fire protection class

• tax rate

a percent of the property's market value that is taxed

• rate of assessment

• medical coverage

• mortgage loan

• property damage coverage

protects you as a homeowner from damage caused by nature and other unpredictable events

• tax rate

• replacement value

• fire protection class

• property damage coverage

pays for expenses for living away from home while your damaged home is being repaired

• mortgage loan

• closing costs

• loss-of-use coverage

• security deposit

money collected by the city or county to pay for roads, parks, schools, government offices, and other services

• closing costs

• personal liability coverage

• homeowners insurance

• real estate taxes

provides financial protection against various losses

• medical coverage

• homeowners insurance

• mortgage loan

• replacement value

pays for hospital expenses for nonfamily members injured on your property

• homeowners insurance

• rate of assessment

• medical coverage

• security deposit

a one-time payment, made at the beginning of a lease, used to pay for cleaning, changing the locks, or repairing damage

• assessed value

• loss-of-use coverage

• market value

• security deposit