Understanding Housing Finance and Credit

Understanding Housing Finance and Credit

12th Grade

10 Qs

quiz-placeholder

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Understanding Housing Finance and Credit

Understanding Housing Finance and Credit

Assessment

Quiz

Professional Development

12th Grade

Easy

Created by

Alok Sethi

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of housing finance?

Housing finance refers to the construction of commercial buildings.

Housing finance is the process of renting properties to tenants.

Housing finance is the provision of funds for residential property transactions.

Housing finance involves the sale of land without any financial assistance.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

List the major types of housing finance available.

Mortgages, Home Equity Loans, Government-Backed Loans, Personal Loans

Credit Cards

Rent Payments

Utility Bills

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the advantages of using housing finance?

The advantages of using housing finance include increased accessibility to homeownership, manageable payment plans, potential tax benefits, and the opportunity to build equity.

Higher interest rates on loans

Increased risk of foreclosure

Limited options for property types

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Identify the limitations of housing finance.

Low property taxes

High interest rates, stringent eligibility criteria, limited access for low-income individuals, fluctuating property values, and inadequate financial literacy.

Government subsidies for all buyers

High rental yields

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the major institutions involved in housing finance in India?

Insurance Companies

Commercial banks, Housing Finance Companies (HFCs), Cooperative banks, National Housing Bank (NHB)

Real Estate Investment Trusts (REITs)

Mutual Funds

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the different types of credit cards available.

Cash back and debit cards

The different types of credit cards include Standard, Rewards, Secured, Student, Business, Balance Transfer, and Travel credit cards.

Personal loans

Home equity loans

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the advantages and disadvantages of credit cards?

low fees

instant cash rewards

Advantages: convenience, credit building, rewards, fraud protection. Disadvantages: high-interest rates, debt risk, fees.

no credit check required

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