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- 1. Multiple ChoiceWhat is an application fee?$25Its for a background check and credit checkTo make sure no one else get the apartmentTo give away money
- 2. Multiple Choice
What is an security deposit?
It is money to be used to fix anything that tentant has broken in the apartment
Money to secure the apartment
Money for police services
Money for a rental cop
- 3. Multiple Choice
How much is an application fee?
$25- $65
$1500
$100
Based on your credit score
- 4. Multiple Choice
Most authorities claim that what percentage of your monthly pay is the safe amount to spend on housing?
10-20%
30%
40%
50%
- 5. Multiple ChoiceUnless stated differently, most leases are for how long?2 years1 year5 years10 years
- 6. Multiple ChoiceWhen a landlord gives a written notice to take possession of a property, you are being ...ForclosedBankruptEvictedArrested
- 7. Multiple ChoiceWhich of the following would NOT be considered a major utility in a rental agreement?Electric BillHeating BillWater and Sewer BillGrocery Bill
- 8. 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
- 9. Multiple ChoiceA written contract specifying the terms for the use of an asset is called:leasepapersigning your life awayloose
- 10. Multiple ChoiceThe name for a renter is:landlordrenteetenantlease
- 11. Multiple ChoiceThere is no need to read a lease before signing it.Truefalse
- 12. Multiple ChoiceWhich of the following should you find out before agreeing to rent an apartment?are pets allowedlate feeswhen is rent dueall of the above
- 13. Multiple ChoiceThis is the title of a person that rents their property to a tenantLandlordSupervisorGenerousTenant
- 14. Multiple ChoiceA policy that covers a renters personal property against loss by theft, fire, or other hazards.Security DepositEquityRenter's InsurancePrincipal
- 15. Multiple ChoiceWhich is easier to move from?Owning a houseRenting an apartment
- 16. Multiple ChoiceWhat amount is usually held for a security deposit?$150$250One month's rentFirst and Last month's rent
- 17. Multiple Choice
Utilities are what type of expenses?
flexible expenses
faulty expenses
fixed expenses
final expenses
- 18. Multiple Choice
All utilities are paid by the landlord.
True
False
- 19. Multiple Choice
fee that covers damages made by pets
pet deposit
security deposit
pet ownership fee
pet application fee
- 20. Multiple ChoiceWhen signing a lease, it is recommended that yougive it a quick review and sign before someone else gets the apartment you wantread carefully and sign only when you understand what everything meansread carefully and sign even though you are not sure what some of the terms meanread carefully and sign, even though you know that you will not agree to all of the terms stated
- 21. Multiple ChoiceTom's financial advisor believes he should spend no more than 28% of her grossly income for housing. He has determined that amount to be $1400/month. Based on this amount and his advisor's recommendation, what is tom's annual salary?$35,000$40,000$50,000$60,000
- 22. Multiple ChoiceIf a person makes about $6000/month, what is the most they should spend on rent?$1200$1500$1800$2100
- 23. Multiple ChoiceA landlord CAN refuse to rent to a person based upon...their gendertheir racetheir background checkTheir nationality
- 24. Multiple ChoiceWhat should the renter do BEFORE he/she decides to rent an apartment?Do a walkthrough the apartment in the presence of the landlord taking notes on any needed repairs or damagesTake private notes, but not inform the landlord.Secure the apartment immediately by signing a lease so the apartment will not be rented to another personpay for all damages to the apartment out of his/her own funds
- 25. Multiple ChoiceThis is usually submitted to a potential landlord...contains your personal information, current address, employment record...Insurance papersbackground checkapplicationlease
- 26. Multiple Choice
In order to rent a place, a landlord may request
that you own a car.
references and/or a credit check.
proof of vaccinations
All of the above
- 27. Multiple Choice
The Security Deposit
will never be returned to the tenant
will be returned to the tenant after any damages are deducted
will go toward the rent.
All of the above.
- 28. Multiple Choice
Financial experts recommended, when you rent, the amount of rent you pay should not be more than
10% of your take home pay
30% of your take home pay
50% of your take home pay
70% of your take home pay
- 29. Multiple Choice
When you decide to move out of an apartment,
you can move out anytime you want to without penalty.
you must move out on the first day of the month.
you must give the landlord the required noticed stated in the rental agreement.
- 30. Multiple Choice
A Rental Agreement is often referred to as
Renter's Rights
Landlord's Rights
a lease
all of the above
- 31. Multiple Choice
When it is time to look for a place of your own, it will be important to think about
the type of place you need.
the location of the place.
how much rent you can afford to pay.
all of the above.
- 32. Multiple Choice
When selecting a place to rent it is important to choose a place that
you really want and desire.
fits your needs and is affordable.
you find first.
None of the above.
- 33. Multiple Choice
It is important to make sure you carefully read a rental agreement before signing it.
True
False
- 34. Multiple Choice
When renting a place, it is important to select a place where you feel safe.
True
False
- 35. Multiple Choice
Someone that can vouch that you are a responsible individual.
Landlord
Reference
Security Deposit
- 36. Multiple Choice
Carlos wants to move to New York City after graduation to pursue a career in banking. Which of the following decisions makes the most financial sense for Carlos?
Rent a sweet Manhattan apartment, because he'll certainly be able to afford it once he gets a job
Rent an apartment solo in Brooklyn, which will take up 70% of his monthly income, but save money on all other aspects of his budget
Even though NYC is a great place to start a career in banking, Carlos should move home with his parents in Boise to save money
Split an apartment with two roommates so he can pursue his career in banking and enjoy the nightlife, culture, and other activities in NYC
- 37. Multiple Choice
When deciding where to live, what are some factors you should consider?
The rental cost relative to your income
Proximity to family and/or friends
The number of employment opportunities in the area
Proximity to public transportation
All of the above
- 38. Multiple Choice
Why should you inspect a property prior to putting in an application to rent it?
To check on the condition of the property and get a feel for the surrounding neighborhood
To meet with the landlord or property manager to be sure that all your questions are answered
To document any damage that you find with the property so it is repaired before you move in
ALL choices are correct
- 39. Multiple Choice
Joey has been renting a 2 bedroom apartment with his friend Max, and they have signed a lease that states each co-signer is jointly and severally liable. What does this mean?
Max does not have to pay rent because the apartment is in Joey's name
Joey and Max are responsible for each other's payments and actions, as well as their own
Joey and Max are only responsible for making sure their portion of the rent is paid on time
The landlord will cover any damage to the property caused by Joey and Max
- 40. Multiple Choice
What information should you be comfortable providing to a landlord when applying for an apartment?
A personal reference
Information on your salary
An emergency contact name & number
ALL choices are correct
- 41. Multiple ChoiceThe most commonly accepted notice for leaving an apartment is what?90 days45 days2 weeks30 days
- 42. Multiple Choice
Choose the term matching the statement: A pipe breaks, but the consumer doesn’t have to fix it.
leasing a vehicle
renting a home
purchasing a home
purchasing a vehicle
- Answer choicesTagsAnswer choicesTags