Question 1

The main type of car lease is

Accepted Answer

A) open-end or finance leases. 
B) closed-end or ʺwalk awayʺ. 
C) single-payment leases. 
D) all of the above

Question 2

If a home is difficult to sell readily, it is said to be

Accepted Answer

A) liquid. 
B) fluid. 
C) solid. 
D) illiquid.

Question 3

Who is said to be the Ultimate Consumer?

Accepted Answer

A) retired people 
B) teens 
C) newlyweds 
D) college students

Question 4

Lemon laws pertain to

Accepted Answer

A) cell phones. 
B) computers. 
C) cars. 
D) lemons.

Question 5

Owning a home is often called the American Dream.

Accepted Answer

A) True 
 B)False

Question 6

In a typical family budget, housing represents 32 percent of the total.

Accepted Answer

A) True 
 B)False

Question 7

What are the advantages of leasing a car?

Accepted Answer

The answer of What are the advantages of leasing a...

Question 8

Reverse mortgages pay the homeowner.

Accepted Answer

A) True 
 B)False

Question 9

Payment for the use of property is called ____________.

Accepted Answer

The answer of Payment for the use of property is...

Question 10

If you are going to be in an area less than three years, renting may be better than buying from a financial standpoint.

Accepted Answer

A) True 
 B)False

Question 11

Units that are fully or partially assembled in a factory and moved to the living site are examples of ____________.

Accepted Answer

The answer of Units that are fully or partially assembled...

Question 12

Consumers buy more in their first six months of marriage than a settled household does in five years.

Accepted Answer

A) True 
 B)False

Question 13

About what percentage of homes are sold by realtors?

Accepted Answer

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

Exam 12: Being a Better Consumer of Housing and Vehicles

The main type of car lease is