Question 1

The increase in a homeʹs value is called____________ .

Accepted Answer

Appreciation

Question 2

Predatory lending lures people into loans that they canʹt really afford.

Accepted Answer

A) True 
 B)False  True

Question 3

The procedure to get money back or replace ʺlemonsʺ is called revocation of acceptance.

Accepted Answer

A) True 
 B)False  True

Question 4

The price of a car, including options, transportation charges, and any market adjustments is called the

Accepted Answer

A) interest price. 
B) manufacturerʹs price. 
C) sticker price. 
D) invoice price. 
A) interest price. 
B) manufacturerʹs price. 
C) sticker price. 
D) invoice price.

Question 5

What should you do before signing a lease?

Accepted Answer

Before signing a lease, you should revie

Question 6

High balling refers to a very low price that is quoted but there are add-on costs at the end that drive up the final price.

Accepted Answer

A) True 
 B)False

Question 7

The 2½ Times Rule says you should multiply the annual household income by two and one half to determine the maximum amount to be spent on buying a home.

Accepted Answer

A) True 
 B)False

Question 8

To formulate net worth, subtract your assets from your liabilities.

Accepted Answer

A) True 
 B)False

Question 9

Stable employment is an important factor in how a lender will evaluate an application.)

Accepted Answer

A) True 
 B)False

Question 10

When there is a(n),____________ the property is leased by the original tenant to another person or people.

Accepted Answer

The answer of When there is a(n),____________ the property is...

Question 11

A loan to purchase real estate in which the real estate serves as collateral is a

Accepted Answer

A) mortgage. 
B) principle loan. 
C) lease. 
D) down payment. 
A) mortgage. 
B) principle loan. 
C) lease. 
D) down payment.

Question 12

What should you do before buying a used car?

Accepted Answer

Examine the car yourself in daylight. Re

Question 13

A typical down payment on a home is what percentage of the purchase price?

Accepted Answer

A) 0-10% 
B) 10-20% 
C) 30-40% 
D) 20-30% 
A) 0-10% 
B) 10-20% 
C) 30-40% 
D) 20-30%

Question 14

Payment required by the landlord in advance to cover wear and tear of the unit and to secure a unit for the renter is called the

Accepted Answer

A) security deposit. 
B) rent. 
C) lease. 
D) co-payment. 
A) security deposit. 
B) rent. 
C) lease. 
D) co-payment.

Question 15

Assets are owned while liabilities are ____________.

Accepted Answer

The answer of Assets are owned while liabilities are ____________....

Question 16

An adjustable rate mortgage has a fixed rate.

Accepted Answer

A) True 
 B)False

Question 17

It is estimated that what percentage of new cars are leased?

Accepted Answer

A) 10% 
B) 90% 
C) 30% 
D) 60% 
A) 10% 
B) 90% 
C) 30% 
D) 60%

Question 18

A sublease is a legal document between the renter and landlord, describing the rights and responsibilities of both.

Accepted Answer

A) True 
 B)False

Question 19

What is the difference between a condo and a cooperative?

Accepted Answer

Condominiums, like townhouses, are homes

Question 20

PITI stands for

Accepted Answer

A) payment, interest, taxes, and insurance. 
B) principle, interest, taxes, and insurance. 
C) principle, illiquid, taxes, and insurance. 
D) payment, illiquid, taxes, and insurance. 
A) payment, interest, taxes, and insurance. 
B) principle, interest, taxes, and insurance. 
C) principle, illiquid, taxes, and insurance. 
D) payment, illiquid, taxes, and insurance.

The increase in a homeʹs value is called____________ .

Predatory lending lures people into loans that they canʹt really afford.

The procedure to get money back or replace ʺlemonsʺ is called revocation of acceptance.

The price of a car, including options, transportation charges, and any market adjustments is called the

What should you do before signing a lease?

High balling refers to a very low price that is quoted but there are add-on costs at the end that drive up the final price.

The 2½ Times Rule says you should multiply the annual household income by two and one half to determine the maximum amount to be spent on buying a home.

To formulate net worth, subtract your assets from your liabilities.

Stable employment is an important factor in how a lender will evaluate an application.)

When there is a(n),____________ the property is leased by the original tenant to another person or people.

A loan to purchase real estate in which the real estate serves as collateral is a

What should you do before buying a used car?

A typical down payment on a home is what percentage of the purchase price?

Payment required by the landlord in advance to cover wear and tear of the unit and to secure a unit for the renter is called the

Assets are owned while liabilities are ____________.

An adjustable rate mortgage has a fixed rate.

It is estimated that what percentage of new cars are leased?

A sublease is a legal document between the renter and landlord, describing the rights and responsibilities of both.

What is the difference between a condo and a cooperative?

PITI stands for

Consumers in a Changing World

The Consumer Movement

Consumer Theories and Developing a Model

Consumer Responsibilities, Redress, and Law

Government Protection, Nongovernmental Proconsumer Groups, and Media

Buying Process, Brands, and Product Development

Decision Making and the Influence of Advertising

Food and Beverage Issues

Health and Wellness Issues

Ownership, Safety and Repairs

The Internet and Identity Theft

Saving, Banking, Debt, and Credit Issues

Insurance and Investment Issues

Ethics and Globalization

Filters

Exam 12: Being a Better Consumer of Housing and Vehicles

The increase in a homeʹs value is called____________ .

Predatory lending lures people into loans that they canʹt really afford.

The procedure to get money back or replace ʺlemonsʺ is called revocation of acceptance.

The price of a car, including options, transportation charges, and any market adjustments is called the

What should you do before signing a lease?

High balling refers to a very low price that is quoted but there are add-on costs at the end that drive up the final price.

The 2½ Times Rule says you should multiply the annual household income by two and one half to determine the maximum amount to be spent on buying a home.

To formulate net worth, subtract your assets from your liabilities.

Stable employment is an important factor in how a lender will evaluate an application.)

When there is a(n),____________ the property is leased by the original tenant to another person or people.

A loan to purchase real estate in which the real estate serves as collateral is a

What should you do before buying a used car?

A typical down payment on a home is what percentage of the purchase price?

Payment required by the landlord in advance to cover wear and tear of the unit and to secure a unit for the renter is called the

Assets are owned while liabilities are ____________.

An adjustable rate mortgage has a fixed rate.

It is estimated that what percentage of new cars are leased?

A sublease is a legal document between the renter and landlord, describing the rights and responsibilities of both.

What is the difference between a condo and a cooperative?

PITI stands for

Consumers in a Changing World

The Consumer Movement

Consumer Theories and Developing a Model

Consumer Responsibilities, Redress, and Law

Government Protection, Nongovernmental Proconsumer Groups, and Media

Buying Process, Brands, and Product Development

Decision Making and the Influence of Advertising

Food and Beverage Issues

Health and Wellness Issues

Ownership, Safety and Repairs

The Internet and Identity Theft

Saving, Banking, Debt, and Credit Issues

Insurance and Investment Issues

Ethics and Globalization

Filters