Real Estate Quiz

Real Estate Quiz

7th Grade

13 Qs

quiz-placeholder

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Real Estate Quiz

Real Estate Quiz

Assessment

Quiz

Financial Education

7th Grade

Hard

Created by

Lindsey Zerbinos

Used 2+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is an advantage of renting a home versus buying?

You have the freedom to make changes to your home, for example, putting carpet in your home.

Renting builds equity.

You do not plan on staying in that home for very long, and renting makes it easier for you to move.

You want to keep up with maintenance yourself rather than trusting a landlord to do it.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How can buying a house help to build wealth?

When you sell your home, you can access the equity that you have built. This means that you will earn the difference between your home’s price and the amount that you still owe on the mortgage.

Other people will see you have a house and think you have a lot of money.

The government gives money to homeowners.

It doesn’t.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How can a high credit score help someone buy a home?

A high credit score can qualify her for a higher interest rate.

A high credit score can qualify her for a lower interest rate.

Credit scores don't matter.

Lenders will pay the down payment on your home if you have a good credit score.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which one of the following is NOT considered an upfront cost?

Property taxes

Closing costs

Down Payment

Moving Costs

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the largest expense that someone generally pays at the time they buy a house?

Property taxes

HOA fees

Down payment

Moving costs

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A real estate agent can assist a buyer with all of the following EXCEPT…

Setting up appointments to view homes that a buyer is interested in.

Finding houses that meet a buyer’s needs and financial situation.

Scheduling home inspections and appraisals after a buyer has made an offer on a property.

Removing negative information from a buyer’s credit report to get better interest rates.

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Miguel is looking for a home. He assesses his needs and wants and decides that he must have at least 2 bedrooms, a high-tech kitchen, gaming room, and small yard. Which of the following four listings is the BEST fit for Miguel’s needs and wants?

A 3-bedroom home that has a standard kitchen, gaming room, and large yard.

A 4-bedroom home that has a high-tech kitchen and small yard.

A 2-bedroom home that has a standard kitchen, gaming room, and small yard.

A 2-bedroom home that has a gaming room, pool, and karaoke machine.

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