Question 1

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.

Question 2

A split-rate mortgage helps to reduce interest rate risk.

Accepted Answer

A) True 
 B)False

Question 3

A real estate agent can best assist a homebuyer by

Accepted Answer

A)  assisting in getting a mortgage 
B)  setting the purchase price. 
C)  offering new home warranties. 
D)  assisting you in obtaining financing. 
E)  paying the first month's mortgage payment. 
A)  assisting in getting a mortgage 
B)  setting the purchase price. 
C)  offering new home warranties. 
D)  assisting you in obtaining financing. 
E)  paying the first month's mortgage payment.

Question 4

Closing costs are the fees and charges owed when making the decision to refinance a home.

Accepted Answer

A) True 
 B)False

Question 5

A cost associated with home buying would be

Accepted Answer

A)  appraisal. 
B)  property taxes. 
C)  legal fees. 
D)  A & B are correct. 
E)  A,B and C are correct. 
A)  appraisal. 
B)  property taxes. 
C)  legal fees. 
D)  A & B are correct. 
E)  A,B and C are correct.

Question 6

Refinancing of a mortgage is recommended when

Accepted Answer

A)  interest rates rise. 
B)  interest rates fall. 
C)  the escrow account balance declines. 
D)  two or more points are required by the lender at the time of closing. 
E)  refinancing costs are low 
A)  interest rates rise. 
B)  interest rates fall. 
C)  the escrow account balance declines. 
D)  two or more points are required by the lender at the time of closing. 
E)  refinancing costs are low

Question 7

Real estate agents will provide you with services using an hourly rate.

Accepted Answer

A) True 
 B)False

Question 8

A lease always gives the landlord the right to:

Accepted Answer

A)  to increase the rent 
B)  to evict the tenant at any time 
C)  to take legal action against a tenant for nonpayment of rent 
D)  to ignore government housing regulations 
E)  cancel the lease 
A)  to increase the rent 
B)  to evict the tenant at any time 
C)  to take legal action against a tenant for nonpayment of rent 
D)  to ignore government housing regulations 
E)  cancel the lease

Question 9

An escrow account is designed to reduce the cost of a mortgage.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A)  origination fee 
B)  mortgage application fee 
C)  earnest money 
D)  title insurance 
E)  down payment 
A)  origination fee 
B)  mortgage application fee 
C)  earnest money 
D)  title insurance 
E)  down payment

The most commonly considered factor when selecting a home is the

A split-rate mortgage helps to reduce interest rate risk.

A real estate agent can best assist a homebuyer by

Closing costs are the fees and charges owed when making the decision to refinance a home.

A cost associated with home buying would be

Refinancing of a mortgage is recommended when

Real estate agents will provide you with services using an hourly rate.

A lease always gives the landlord the right to:

An escrow account is designed to reduce the cost of a mortgage.

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

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Savings Plans and Payment Accounts

Consumer Credit: Advantages, Disadvantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Home and Automobile Insurance

Health and Disability Income Insurance

Financial Planning With Life Insurance

Investing Basics and Evaluating Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

Daily Spending Diary

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Exam 7: Selecting and Financing Housing

The most commonly considered factor when selecting a home is the

A split-rate mortgage helps to reduce interest rate risk.

A real estate agent can best assist a homebuyer by

Closing costs are the fees and charges owed when making the decision to refinance a home.

A cost associated with home buying would be

Refinancing of a mortgage is recommended when

Real estate agents will provide you with services using an hourly rate.

A lease always gives the landlord the right to:

An escrow account is designed to reduce the cost of a mortgage.

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

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Savings Plans and Payment Accounts

Consumer Credit: Advantages, Disadvantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Home and Automobile Insurance

Health and Disability Income Insurance

Financial Planning With Life Insurance

Investing Basics and Evaluating Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

Daily Spending Diary

Filters