Question 1

A(n)_____  ratio specifies the maximum percentage of the value of a property that a lender is willing to loan.

Accepted Answer

A) affordability-to-expense 
B) loan-to-value 
C) rent-to-mortgage 
D) mortgage points to closing costs 
E) points-to-mortgage 
A) affordability-to-expense 
B) loan-to-value 
C) rent-to-mortgage 
D) mortgage points to closing costs 
E) points-to-mortgage

Question 2

Which of the following will help a buyer know ahead of time the specific mortgage amount that he or she will be eligible for subject to changes in rates and terms?

Accepted Answer

A) Prequalification 
B) The rent ratio 
C) Leasing 
D) Anchoring 
E) The interest rate 
A) Prequalification 
B) The rent ratio 
C) Leasing 
D) Anchoring 
E) The interest rate

Question 3

The majority of each monthly payment at the beginning of the loan goes to pay the:

Accepted Answer

A) principal. 
B) interest. 
C) real estate taxes. 
D) homeowner's insurance. 
E) private mortgage insurance. 
A) principal. 
B) interest. 
C) real estate taxes. 
D) homeowner's insurance. 
E) private mortgage insurance.

Question 4

Which of the following is the biggest fixed auto ownership cost?

Accepted Answer

A) The cost of fuel 
B) The cost of oil 
C) The cost of installment loan payments 
D) The cost of maintenance and repair 
E) The cost of tires 
A) The cost of fuel 
B) The cost of oil 
C) The cost of installment loan payments 
D) The cost of maintenance and repair 
E) The cost of tires

Question 5

Prequalification provides a home buyer with information regarding the specific mortgage amounts he or she is eligible for subject to the expected changes in interest rates.

Accepted Answer

A) True 
 B)False

A(n)_____ ratio specifies the maximum percentage of the value of a property that a lender is willing to loan.

Which of the following will help a buyer know ahead of time the specific mortgage amount that he or she will be eligible for subject to changes in rates and terms?

The majority of each monthly payment at the beginning of the loan goes to pay the:

Which of the following is the biggest fixed auto ownership cost?

Prequalification provides a home buyer with information regarding the specific mortgage amounts he or she is eligible for subject to the expected changes in interest rates.

Understanding the Financial Process

Using Financial Statements and Budgets

Preparing Your Taxes

Managing Your Cash and Savings

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds, Etfs, and Real Estate

Planning for Retirement

Preserving Your Estate

Filters

Exam 5: Making Automobile and Housing Decisions

A(n)_____ ratio specifies the maximum percentage of the value of a property that a lender is willing to loan.

Which of the following will help a buyer know ahead of time the specific mortgage amount that he or she will be eligible for subject to changes in rates and terms?

The majority of each monthly payment at the beginning of the loan goes to pay the:

Which of the following is the biggest fixed auto ownership cost?

Prequalification provides a home buyer with information regarding the specific mortgage amounts he or she is eligible for subject to the expected changes in interest rates.

Understanding the Financial Process

Using Financial Statements and Budgets

Preparing Your Taxes

Managing Your Cash and Savings

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds, Etfs, and Real Estate

Planning for Retirement

Preserving Your Estate

Filters