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Mortgage Quiz

Authored by Craig Cox

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Mortgage Quiz
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a mortgage?

A type of savings account

A type of loan

A type of insurance

A type of investment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who can apply for a mortgage?

Only people with a high income

Only people with a perfect credit score

Anyone who meets the lender's criteria

Only first-time homebuyers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a mortgage used for?

Buying a car

Paying off credit card debt

Purchasing property

Starting a business

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where can you get a mortgage from?

Supermarkets

Banks and Building Societies

Online retailers

Travel agencies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed-rate mortgage?

A mortgage with an interest rate that changes monthly

A mortgage with a fixed interest rate for a set period

A mortgage with no interest rate

A mortgage with an interest rate that changes daily

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A mortgage with a fixed interest rate for a set period is known as:

A mortgage with an interest rate that changes monthly

A mortgage with a fixed interest rate for a set period

A mortgage with no interest rate

A mortgage with an interest rate that changes daily

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if you don't keep up with mortgage repayments?

Nothing happens

You get a reward

You could lose the house

Your interest rate decreases

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