Buying/Renting a Home

Buying/Renting a Home

12th Grade

20 Qs

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Buying/Renting a Home

Buying/Renting a Home

Assessment

Quiz

Specialty

12th Grade

Practice Problem

Medium

Created by

Melinda Stoughton

Used 3+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a portion of the purchase price that can be paid at the time of purchase

graduation payment mortgage

closings costs

down payment

equity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the fees paid at the time of purchase (the houses taxes)

closing costs

conventional mortgage

verbal agreement

lease

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the difference between the market value a of a property and the amount still owed on the mortgage.

down payment

sublet

equity

lease

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a type of mortgage where the borrower pays a fixed rate for the length of the loan

adjustable mortgage

conventional mortgage

graduation mortgage

balloon mortgage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a loan in which the interest rate changes after a certain amount of time

adjustable mortgage

conventional mortgage

balloon mortgage

graduation mortgage

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the loan starts out low for the first few years and then increases as your income increases. the interest rate stays the same.

balloon mortgage

adjustable mortgage

graduation mortgage

conventional mortgage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

agreements reached through discussion between the landlord and prospective tenant

verbal agreement

lease

written agreement

sublet

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