Question 1

A cost associated with renting would be:

Accepted Answer

A) property insurance. 
B) maintenance costs. 
C) title insurance. 
D) security deposit. 
E) points. 
A) property insurance. 
B) maintenance costs. 
C) title insurance. 
D) security deposit. 
E) points.

Question 2

A conventional mortgage usually involves:

Accepted Answer

A) a variable interest rate. 
B) a government guarantee. 
C) a balloon payment. 
D) equal payments. 
E) a payment cap. 
A) a variable interest rate. 
B) a government guarantee. 
C) a balloon payment. 
D) equal payments. 
E) a payment cap.

Question 3

The purpose of a counteroffer is to:

Accepted Answer

A) negotiate the purchase price. 
B) reduce mortgage payments. 
C) lower real estate property taxes. 
D) avoid paying points at closing. 
E) avoid paying the real estate agent's commission. 
A) negotiate the purchase price. 
B) reduce mortgage payments. 
C) lower real estate property taxes. 
D) avoid paying points at closing. 
E) avoid paying the real estate agent's commission.

Question 4

Renting would be most appropriate for people who:

Accepted Answer

A) want to reduce their taxes. 
B) have difficulty establishing credit. 
C) have limited funds currently available. 
D) enjoy remodeling their residence. 
E) desire the financial benefits of increased equity. 
A) want to reduce their taxes. 
B) have difficulty establishing credit. 
C) have limited funds currently available. 
D) enjoy remodeling their residence. 
E) desire the financial benefits of increased equity.

Question 5

Some real estate experts estimate that remodeling a kitchen can add 130 percent of the cost of remodeling to the value of the house.A remodeled kitchen costing $8,000 could add _____ to the value of the house.

Accepted Answer

A) $4,000 
B) $8,000 
C) $9,600 
D) $10,400 
E) $13,000 
A) $4,000 
B) $8,000 
C) $9,600 
D) $10,400 
E) $13,000

Question 6

A condominium involves:

Accepted Answer

A) renting a mobile home. 
B) buying stock in a nonprofit organization. 
C) ownership of an individual living unit. 
D) government-subsidized housing. 
E) renting a house with the option to buy. 
A) renting a mobile home. 
B) buying stock in a nonprofit organization. 
C) ownership of an individual living unit. 
D) government-subsidized housing. 
E) renting a house with the option to buy.

Question 7

What is prepaid interest charged by a mortgage company called?

Accepted Answer

A) escrow 
B) points 
C) origination fee 
D) title fee 
E) deed 
A) escrow 
B) points 
C) origination fee 
D) title fee 
E) deed

Question 8

A VA-guaranteed loan program provides assistance to:

Accepted Answer

A) military veterans. 
B) recent college graduates. 
C) low-income homebuyers. 
D) government employees. 
E) the elderly. 
A) military veterans. 
B) recent college graduates. 
C) low-income homebuyers. 
D) government employees. 
E) the elderly.

Question 9

Which types of problems are least likely to be covered by a home buyer warranty?

Accepted Answer

A) structural 
B) wiring 
C) plumbing 
D) heating/cooling 
E) appliance 
A) structural 
B) wiring 
C) plumbing 
D) heating/cooling 
E) appliance

Question 10

If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870,it would take approximately ____ months to cover these costs.

Accepted Answer

A) 6 
B) 9 
C) 13 
D) 17 
E) 22 
A) 6 
B) 9 
C) 13 
D) 17 
E) 22

Question 11

The most commonly considered factor when selecting a home is the:

Accepted Answer

A) size of the home. 
B) condition of the home. 
C) location of the home. 
D) local zoning laws. 
E) current interest rates. 
A) size of the home. 
B) condition of the home. 
C) location of the home. 
D) local zoning laws. 
E) current interest rates.

A cost associated with renting would be:

A conventional mortgage usually involves:

The purpose of a counteroffer is to:

Renting would be most appropriate for people who:

Some real estate experts estimate that remodeling a kitchen can add 130 percent of the cost of remodeling to the value of the house.A remodeled kitchen costing $8,000 could add _____ to the value of the house.

A condominium involves:

What is prepaid interest charged by a mortgage company called?

A VA-guaranteed loan program provides assistance to:

Which types of problems are least likely to be covered by a home buyer warranty?

If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870,it would take approximately ____ months to cover these costs.

The most commonly considered factor when selecting a home is the:

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

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Exam 9: The Housing Decision: Factors and Finances

A cost associated with renting would be:

A conventional mortgage usually involves:

The purpose of a counteroffer is to:

Renting would be most appropriate for people who:

Some real estate experts estimate that remodeling a kitchen can add 130 percent of the cost of remodeling to the value of the house.A remodeled kitchen costing $8,000 could add _____ to the value of the house.

A condominium involves:

What is prepaid interest charged by a mortgage company called?

A VA-guaranteed loan program provides assistance to:

Which types of problems are least likely to be covered by a home buyer warranty?

If closing costs of $1,400 are associated with the refinance of a mortgage that would reduce the monthly payment from $980 to $870,it would take approximately ____ months to cover these costs.

The most commonly considered factor when selecting a home is the:

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters