Should I Buy A House?

Should I Buy A House?

12th Grade

8 Qs

quiz-placeholder

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Should I Buy A House?

Should I Buy A House?

Assessment

Interactive Video

Social Studies

12th Grade

Easy

Created by

Michelle Thomas

Used 1+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the classic image associated with 'The American Dream'?

A high-rise condo

A suburban home with a white picket fence

A large urban apartment

A beachfront property

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is home ownership considered a long-term investment?

It provides a stable job

It guarantees high returns

It offers a place to live and builds equity

It comes with no financial risks

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What has significantly increased for millennials compared to previous generations?

Job security

Student loan debt

Investment in stocks

Income levels

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a critical factor to qualify for good mortgage terms?

Owning a car

A credit score of 760 or higher

Having no previous loans

Having a part-time job

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might buying a home quickly become financially risky?

High property taxes

Constant increase in property value

Most of the initial payments go towards interest

Low interest rates on loans

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What could be a financial consequence if Ramon loses his job after buying a home?

He could easily sell the house for profit

He would pay off the mortgage faster

He might struggle to meet mortgage payments

His credit score would increase

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of not owning a home according to the video?

Responsibility for maintenance costs

Higher travel costs

Increased property taxes

Flexibility in relocating for job opportunities

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What investment alternative is suggested for those not purchasing a home?

Buying luxury goods

Investing in a 401(K) or owning a company

Saving under the mattress

Spending on entertainment