Question 1

Lease agreements may contain a variety of restrictions that are legally binding on tenants.

Accepted Answer

A) True 
 B)False

Question 2

Andrew and Maureen paid the following housing expenses during the year:
 
What is the total dollar amount of the housing expenses that can be deducted on their taxes?

Accepted Answer

A) $950 
B) $10,200 
C) $9,600 
D) $9,000 
A) $950 
B) $10,200 
C) $9,600 
D) $9,000

Question 3

Calculate the amount of monthly payment for principal and interest for a $195,000,8 percent,25-year loan.The payment per $1,000 debt under these terms is $7.7182.

Accepted Answer

A) $933 
B) $1,214 
C) $1,300 
D) $1,505 
A) $933 
B) $1,214 
C) $1,300 
D) $1,505

Question 4

A sale of your home that begins during the time period of the listing agreement to a buyer not otherwise listed as an exception will result in a commission paid to the realtor even if you find the buyer on your own.

Accepted Answer

A) True 
 B)False

Question 5

Subleasing means leasing the property from the original tenant to another tenant before the lease expires.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is a measure of the relative price of owned housing that shows the average home price divided by annual rent in a community?

Accepted Answer

A) rent-to-own indicator 
B) loan-to-value ratio 
C) price-to-rent indicator 
D) price-to-rent ratio 
A) rent-to-own indicator 
B) loan-to-value ratio 
C) price-to-rent indicator 
D) price-to-rent ratio

Question 7

The dollar value of the home in excess of the outstanding mortgage debt is called

Accepted Answer

A) asset value. 
B) homeowner's equity. 
C) amortization. 
D) collateral. 
A) asset value. 
B) homeowner's equity. 
C) amortization. 
D) collateral.

Question 8

In case of default,the second mortgage lender is paid before the first mortgage is satisfied.

Accepted Answer

A) True 
 B)False

Question 9

Renters generally pay out less money in terms of cash flow than homeowners.

Accepted Answer

A) True 
 B)False

Question 10

Aaron Jefferies has located a condominium he would like to buy,and he would like the current owners to leave all window coverings in the condo.This condition should be included in the

Accepted Answer

A) purchase offer. 
B) purchase contract. 
C) warranty deed. 
D) purchase offer and purchase contract. 
A) purchase offer. 
B) purchase contract. 
C) warranty deed. 
D) purchase offer and purchase contract.

Question 11

In communities with a multiple-listing service,a listed home

Accepted Answer

A) can be shown by all realtors in the community. 
B) is listed with many different realtors. 
C) is listed many times with one realtor. 
D) can be shown by only realtors approved by the listing agency. 
A) can be shown by all realtors in the community. 
B) is listed with many different realtors. 
C) is listed many times with one realtor. 
D) can be shown by only realtors approved by the listing agency.

Question 12

The front-end ratio compares the total annual expenditures for housing to the loan applicant's disposable income.

Accepted Answer

A) True 
 B)False

Question 13

A prospective borrower must be given a good-faith estimate of all specific closing costs when they apply for a mortgage.

Accepted Answer

A) True 
 B)False

Question 14

Mortgage insurance protects

Accepted Answer

A) the borrower. 
B) the lender. 
C) the realtor. 
D) All of these. 
A) the borrower. 
B) the lender. 
C) the realtor. 
D) All of these.

Question 15

Most of the monthly payment during the early years of a mortgage loan goes for principal repayment.

Accepted Answer

A) True 
 B)False

Question 16

A housing unit that is detached from other units is called a single-family dwelling.

Accepted Answer

A) True 
 B)False

Question 17

An original tenant who subleases to another tenant is automatically released from financial responsibility for future rent payments.

Accepted Answer

A) True 
 B)False

Lease agreements may contain a variety of restrictions that are legally binding on tenants.

Andrew and Maureen paid the following housing expenses during the year: What is the total dollar amount of the housing expenses that can be deducted on their taxes?

Calculate the amount of monthly payment for principal and interest for a $195,000,8 percent,25-year loan.The payment per $1,000 debt under these terms is $7.7182.

A sale of your home that begins during the time period of the listing agreement to a buyer not otherwise listed as an exception will result in a commission paid to the realtor even if you find the buyer on your own.

Subleasing means leasing the property from the original tenant to another tenant before the lease expires.

Which of the following is a measure of the relative price of owned housing that shows the average home price divided by annual rent in a community?

The dollar value of the home in excess of the outstanding mortgage debt is called

In case of default,the second mortgage lender is paid before the first mortgage is satisfied.

Renters generally pay out less money in terms of cash flow than homeowners.

Aaron Jefferies has located a condominium he would like to buy,and he would like the current owners to leave all window coverings in the condo.This condition should be included in the

In communities with a multiple-listing service,a listed home

The front-end ratio compares the total annual expenditures for housing to the loan applicant's disposable income.

A prospective borrower must be given a good-faith estimate of all specific closing costs when they apply for a mortgage.

Mortgage insurance protects

Most of the monthly payment during the early years of a mortgage loan goes for principal repayment.

A housing unit that is detached from other units is called a single-family dwelling.

An original tenant who subleases to another tenant is automatically released from financial responsibility for future rent payments.

Understanding Personal Finance

Career Planning

Financial Statements,tools,and Budgets

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Managing Property and Liability Risk

Managing Health Expenses

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Mutual Funds and Exchange Traded Funds

Real Estate and High-Risk Investments

Retirement and Estate Planning

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Exam 9: Obtaining Affordable Housing

Lease agreements may contain a variety of restrictions that are legally binding on tenants.

Andrew and Maureen paid the following housing expenses during the year: What is the total dollar amount of the housing expenses that can be deducted on their taxes?

Calculate the amount of monthly payment for principal and interest for a $195,000,8 percent,25-year loan.The payment per $1,000 debt under these terms is $7.7182.

A sale of your home that begins during the time period of the listing agreement to a buyer not otherwise listed as an exception will result in a commission paid to the realtor even if you find the buyer on your own.

Subleasing means leasing the property from the original tenant to another tenant before the lease expires.

Which of the following is a measure of the relative price of owned housing that shows the average home price divided by annual rent in a community?

The dollar value of the home in excess of the outstanding mortgage debt is called

In case of default,the second mortgage lender is paid before the first mortgage is satisfied.

Renters generally pay out less money in terms of cash flow than homeowners.

Aaron Jefferies has located a condominium he would like to buy,and he would like the current owners to leave all window coverings in the condo.This condition should be included in the

In communities with a multiple-listing service,a listed home

The front-end ratio compares the total annual expenditures for housing to the loan applicant's disposable income.

A prospective borrower must be given a good-faith estimate of all specific closing costs when they apply for a mortgage.

Mortgage insurance protects

Most of the monthly payment during the early years of a mortgage loan goes for principal repayment.

A housing unit that is detached from other units is called a single-family dwelling.

An original tenant who subleases to another tenant is automatically released from financial responsibility for future rent payments.

Understanding Personal Finance

Career Planning

Financial Statements,tools,and Budgets

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Managing Property and Liability Risk

Managing Health Expenses

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Mutual Funds and Exchange Traded Funds

Real Estate and High-Risk Investments

Retirement and Estate Planning

Filters