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Real Estate and Mortgage Quiz

Authored by Courtney Fry

History

9th Grade

Used 1+ times

Real Estate and Mortgage Quiz
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13 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

Define the term 'Market Value' as it relates to housing/mortgages.

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Define the term 'Appraisal' in the context of housing/mortgages.

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain what 'Down payment' means in the context of purchasing a house.

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

Define 'Annual Percentage Rate' as used in mortgage discussions.

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

Define 'Ernest Money' in real estate transactions.

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What does 'Fixed Interest' mean in terms of a mortgage?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

Define 'Foreclosure' in the context of mortgages.

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