Real Estate and Financial Terms Quiz

Match the term with its definition: Cost of Living

• the average cost of the basic goods and services needed to sustain a certain standard of living

• the level of wealth, comfort, material goods, and necessities available to a group of people

• when someone spends so much of their income on the costs of homeownership that they struggle to reach other financial goals

Match the term with its definition: Standard of Living

• the average cost of the basic goods and services needed to sustain a certain standard of living

• the level of wealth, comfort, material goods, and necessities available to a group of people

• when someone spends so much of their income on the costs of homeownership that they struggle to reach other financial goals

Match the term with its definition: House Poor

• the average cost of the basic goods and services needed to sustain a certain standard of living

• the level of wealth, comfort, material goods, and necessities available to a group of people

• when someone spends so much of their income on the costs of homeownership that they struggle to reach other financial goals

Match the term with its definition: Renting

• periodic payments (usually monthly) by a tenant to a landlord in return for the use of a property

• a mortgage with a set interest rate for a set number of years

• the amount borrowed (that has to be paid back) to purchase a home

Match the term with its definition: Fixed-Rate Mortgage

• periodic payments (usually monthly) by a tenant to a landlord in return for the use of a property

• a mortgage with a set interest rate for a set number of years

• the amount borrowed (that has to be paid back) to purchase a home

Match the term with its definition: Mortgage Principal

• periodic payments (usually monthly) by a tenant to a landlord in return for the use of a property

• a mortgage with a set interest rate for a set number of years

• the amount borrowed (that has to be paid back) to purchase a home

Match the term with its definition: Amenities

• things that help provide convenience, comfort, or enjoyment

• a legal contract that allows the renter, or lessee, rights to the use of a property owned or managed by the lessor for a period of time

• an agreement made between two or more parties that is enforced by law

Match the term with its definition: Leasing Contract

• things that help provide convenience, comfort, or enjoyment

• a legal contract that allows the renter, or lessee, rights to the use of a property owned or managed by the lessor for a period of time

• an agreement made between two or more parties that is enforced by law

Match the term with its definition: Legal Contract

• things that help provide convenience, comfort, or enjoyment

• a legal contract that allows the renter, or lessee, rights to the use of a property owned or managed by the lessor for a period of time

• an agreement made between two or more parties that is enforced by law

Match the term with its definition: Acknowledgment Clause

• the portion of a legal contract signed by both parties

• a loan obtained for the purchase of a home

• a lump sum of money, usually a percentage of the total price of that home, paid by the buyer at the time of purchase