
Housing S10

Quiz
•
Financial Education
•
11th Grade
•
Easy
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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