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- 1. Multiple ChoiceThe terms of a lease should include all of the following EXCEPT theamount of the rent and any late fees.names of the persons who live next door.policies you are expected to follow.names of all roommates and the landlord.
- 2. Multiple ChoiceWhen signing a lease, it is recommended that yougive it a quick review and sign before someone else gets the apartment you want.read carefully and sign even though you are not sure what some of the terms mean.read carefully and sign only when you understand what everything means.read carefully and sign, even though you know that you will not agree to all of the terms stated.
- 3. Multiple ChoiceRenting an apartment should involvemaking an emotional decision because you want to be happy where you live.setting a strategy to get what you need for the amount you can afford.setting a strategy to get what you want, even though it is more than you can afford.making a decision based only how much it will cost to live there.
- 4. Multiple ChoiceWhich of the following is an ADVANTAGE to renting a place to live?Limited expenses for maintenance.Limited expenses for entertainment.Limited options for size and location.Limited rights for redecorating.
- 5. Multiple ChoiceA typical housing lease may require a tenant to:Repair certain types of damage to the propertyMaintain the inside as well as the outside of the propertyAvoid participating in illegal activity on the propertyAll of the above
- 6. Multiple ChoiceRenting provides _________ flexibility but can lead to _________ costs in the long-term.greater; lowergreater; higherless; lowerless; higher
- 7. Multiple ChoiceAll of the following components are commonly found in rental housing agreements EXCEPT:Whether the renter can have pets in the houseHow much the renter will payWhat type of renter’s insurance the renter must buyWhich repair types the renter will be responsible for
- 8. Multiple ChoiceWhat is the renter's rule?You should spend no more than one week's income on monthly rentYou should spend no more than one month's income on weekly rentYou can borrow up to 2.5 times your annual income to rentCheck yo credit
- 9. Multiple ChoiceA policy that covers a renters personal property against loss by theft, fire, or other hazards.Security DepositEquityRenter's InsurancePrincipal
- 10. Multiple ChoiceThe contract between a tenant and a landlordRental agreementLeaseDeed
- 11. Multiple ChoiceMoney set aside that the landlord keeps if the tenant causes damage to the rental propertySecurity depositSafeguard depositShelter depositSafekeeping deposit
- 12. Multiple ChoiceUnless otherwise noted, rent is typically due when?Last day of the monthFirst day of the monthMiddle of the monthAnniversary of the day you moved in
- 13. Multiple ChoiceThe purpose of a security deposit is toensure the landlord provides all of the services promisedensure the tenant leaves the apartment in good conditionpay the night watchmanprovide a new bank account
- 14. Multiple ChoiceUnless stated differently, most leases are for how long?2 years1 year5 years10 years
- 15. Multiple ChoiceIf the landlord requires the first month rent and a 1 1/2 security deposit, then how much would you need to give the landlord before moving in if your monthly rent is $1200?$3000$1800$2400$1200
- 16. Multiple ChoiceIf the landlord increases the rent by 5% and the current rent is $900, then how much will the new rent be?$990$945$1000$900
- 17. Multiple ChoiceUsing the rule monthly rent = 1 week income, determine how much you can afford to pay in rent each month if you earn $36,000 annually?$750$3000$692$1500
- 18. Multiple ChoiceIf you found an apartment for $1500 a month, then how much would you need to earn annually?$78,000$72,000$18,000$36,000
- 19. Multiple ChoiceWhat happens to the cost of a loan when the APR is higher?Loan cost increasesLoan cost decreasesNo change
- 20. Multiple ChoiceWhat happens to the loan amount when you put down a larger down payment?DecreasesIncreasesNo change
- 21. Multiple ChoiceWhat is the consequence of having a poor credit score?None of these answers are correctMay pay a higher APRMay pay a lower APRGo to jail
- 22. Multiple ChoiceA special loan used to purchase homes.MortgageHerbageSBA LoanCar Loan
- 23. Multiple ChoiceA type of loan where the interest rate never changesFixed-RateAdjustable RatePG RatedNon Fixed Rate
- 24. Multiple ChoiceThe interest rate of this type of mortgage can change monthly.Fixed-RateAdjustable RateSuper Chango MortgageKeyboard Cat
- 25. Multiple ChoiceYou pay these taxes based on the value of home and the land it sits on.Property TaxesLand TaxesHome TaxesIncome Taxes
- 26. Multiple ChoiceThis is the money saved up and used to pay for a portion of a new home.Down PaymentMortgagePrincipalInterest
- 27. Multiple ChoiceIf a mortgage has the same principal and interest rate, but the length of the mortgage increases from 20 years to 30 years, then which of the following statements is true?The total cost of the home will stay the sameThe total cost of the home will decreaseThe total cost of the home will increase
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