WorksheetsRenting V Owning
Total questions: 25
Worksheet time: 12mins
Name
Class
Date
1.
Something of value given as security for a debt.
a)
Collateral
b)
Capacity
c)
Character
d)
Security Deposit
2.
The contract between a tenant and a landlord
a)
Rental agreement
b)
Lease
c)
Deed
3.
If you attach a ceiling fan to a rental property it becomes the property of the landloard
a)
True
b)
False
4.
Money set aside that the landlord keeps if the tenant causes damage to the rental property
a)
Security deposit
b)
Safeguard deposit
c)
Shelter deposit
d)
Safekeeping deposit
5.
Failure to repay a loan is called __________
a)
Default
b)
Deficiency
c)
Neglect
d)
Oversight
6.
The value of a home minus the amount owed is called ____________
a)
Collateral
b)
Equity
c)
Waste
d)
Market Value
7.
A policy that covers a renters personal property against loss by theft, fire, or other hazards.
a)
Security Deposit
b)
Equity
c)
Renter's Insurance
d)
Principal
8.
The original amount of a loan
a)
Equity
b)
Interest
c)
Principal
d)
Security Deposit
9.
The fee the lending institution charges the buyer to borrow the money.
a)
Principal
b)
Earnest Money
c)
Closing Costs
d)
Interest
10.
This type of mortgage changes based on the market. The interest rate may increase or decrease each year.
a)
Adjustable rate
b)
Conventional
c)
Graduated
11.
Which of the following is not a basic need?
a)
Pool
b)
Roof
c)
Bathroom
d)
Kitchen
12.
What is depreciation?
a)
Cars lose value once you drive them.
b)
Cars lose space once you drive them.
c)
Cars gain value once you drive them.
d)
Cars lose mileage once you drive them.
13.
Which of the following are things to look for when shopping for a new or used car?
a)
the mileage
b)
damage to the exeterior of the car
c)
the price of the car
d)
all of these
14.
The cost of owning a car includes
a)
insurance
b)
repairs
c)
gas
d)
all of these
15.
A manufacturer's warranty on a car covers
a)
specific repairs for as long as you own the car
b)
all the maintenance costs for a specific number of miles
c)
specific repairs for a specific amount of time or number of miles
d)
collision repairs but no other repairs
16.
All of the following are reputable places where you can get a car loan except
a)
a bank
b)
a loan shark
c)
a credit union
d)
from your parents
17.
A long-term rental of a car that allows a specific period of time and mileage is called
a)
purchasing a car
b)
borrowing a car
c)
leasing a car
d)
none of the above
18.
By law, drivers are ___________ to pay for the damages they cause with their automobiles.
a)
not responsible
b)
negligent
c)
liable
d)
none of these
19.
What should you do before you sign a contract to buy a car?
a)
Make sure the car has the features that you want.
b)
Ask questions if you are unsure about what the car has.
c)
Check the insurance rate
d)
All of the above.
20.
You should always test drive a car before signing a contract to buy one.
a)
True
b)
False
21.
All of the following are places to look for cars except
a)
Classified Ads
b)
The Walmart Parking Lot
c)
Kelly Blue Book
d)
Edmunds
22.
If you sublease your apartment, you become the landlord to the new tenant.
a)
True
b)
False
23.
Name this logo:
a)
Ford
b)
Chevrolet
c)
Volkswagon
d)
Audi
24.
Name this logo:
a)
Porsche
b)
McLaren
c)
Lamborghini
d)
Ferarri
25.
Name this logo:
a)
Volkswagon
b)
Toyota
c)
Hyundai
d)
Audi
100 %
