Housing S10

Housing S10

11th Grade

14 Qs

quiz-placeholder

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Housing S10

Housing S10

Assessment

Quiz

Financial Education

11th Grade

Easy

Created by

Wayground Content

Used 75+ times

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Requirements before moving into a property

Pay a security deposit and sign a lease agreement.

Provide a reference from a previous landlord.

Submit a credit report and background check.

Obtain renter's insurance before moving in.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purpose of a lease

A lease is a contract outlining the terms under which one party agrees to rent property owned by another party.

A lease is a document that allows a tenant to purchase property outright.

A lease is a verbal agreement that does not require any written documentation.

A lease is a type of insurance policy for property owners.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How most people pay for a home

Through cash payment

Through a mortgage

Through a personal loan

Through a lease agreement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Coverage of an escrow account

An escrow account holds funds for property taxes and insurance.

An escrow account is used for storing personal belongings.

An escrow account is a type of savings account with high interest rates.

An escrow account is a legal document for property transfer.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Maximum amount to pay for a home vs how much of your budget should go to housing.

The maximum amount should be 3 times your annual household income.

Your monthly housing budget should be 25% of your net monthly income.

The maximum amount should be 2 1/2 times your annual household income.

Your monthly housing budget should be 40% of your net monthly income.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Largest expenditure of one’s income

Housing is typically the largest expenditure of one's income.

Transportation costs are usually the largest expenditure of one's income.

Food expenses are generally the largest expenditure of one's income.

Entertainment is often the largest expenditure of one's income.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definitions: tenant, landlord, property manager

Tenant: Owner of rental property.

Landlord: Renter of property.

Property Manager: Oversees rental operations.

Tenant: Renter of property.

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