Question 1

Step five of the home buying process is?

Accepted Answer

A) Determine home ownership needs 
B) Find and evaluate a property to purchase 
C) Price the property 
D) Obtain Financing 
E) Close the purchase transaction 
A) Determine home ownership needs 
B) Find and evaluate a property to purchase 
C) Price the property 
D) Obtain Financing 
E) Close the purchase transaction

Question 2

Ease of mobility is an advantage of owning a house.

Accepted Answer

A) True 
 B)False

Question 3

Condominiums involve the purchase of an entire building.

Accepted Answer

A) True 
 B)False

Question 4

A common financial benefit of home ownership is

Accepted Answer

A) increased property value. 
B) tax deductibility of the down payment. 
C) amortization of the growth of equity. 
D) a low security deposit. 
E) low interest financing. 
A) increased property value. 
B) tax deductibility of the down payment. 
C) amortization of the growth of equity. 
D) a low security deposit. 
E) low interest financing.

Question 5

Before living in the rental property you should?

Accepted Answer

A) Select area and amount 
B) Contact the owner regarding repairs 
C) Verify start dates and costs 
D) Require deductions from the security deposit 
E) Talk to current residents 
A) Select area and amount 
B) Contact the owner regarding repairs 
C) Verify start dates and costs 
D) Require deductions from the security deposit 
E) Talk to current residents

Question 6

Which document is used to transfer ownership of property from one party to another?

Accepted Answer

A) Title 
B) Escrow account 
C) Settlement statement 
D) Appraisal 
E) Deed 
A) Title 
B) Escrow account 
C) Settlement statement 
D) Appraisal 
E) Deed

Question 7

Which of the following is an example of a closing cost?

Accepted Answer

A) origination fee 
B) mortgage application fee 
C) earnest money 
D) deed recording fee 
E) down payment 
A) origination fee 
B) mortgage application fee 
C) earnest money 
D) deed recording fee 
E) down payment

Question 8

One significant drawback of home ownership is financial commitment.

Accepted Answer

A) True 
 B)False

Question 9

A disadvantage of owing a co-operative is:

Accepted Answer

A) Higher utility expenses 
B) Financial commitment 
C) Difficult to sell 
D) Limited remodeling 
E) Limited mobility 
A) Higher utility expenses 
B) Financial commitment 
C) Difficult to sell 
D) Limited remodeling 
E) Limited mobility

Step five of the home buying process is?

Ease of mobility is an advantage of owning a house.

Condominiums involve the purchase of an entire building.

A common financial benefit of home ownership is

Before living in the rental property you should?

Which document is used to transfer ownership of property from one party to another?

Which of the following is an example of a closing cost?

One significant drawback of home ownership is financial commitment.

A disadvantage of owing a co-operative is:

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters

Exam 7: The Finances of Housing

Step five of the home buying process is?

Ease of mobility is an advantage of owning a house.

Condominiums involve the purchase of an entire building.

A common financial benefit of home ownership is

Before living in the rental property you should?

Which document is used to transfer ownership of property from one party to another?

Which of the following is an example of a closing cost?

One significant drawback of home ownership is financial commitment.

A disadvantage of owing a co-operative is:

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Home and Automobile Insurance

Life, Health, and Disability Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters