Finance Review

Front

A conventional mortgage has equal payments with a fixed interest rate over how many years? Options: 5, 10, or 15 years; 15, 30, or 40 years; 20, 25, or 35 years

Back

15, 30, or 40 years

Front

What does FAFSA stand for?

Back

Free Application for Student Aid

Front

Why is it important to reduce debts or improve your credit score when applying for a mortgage?

Back

To increase the chances of loan approval and secure better interest rates.

Front

The money you pay in fees, appraisal costs and insurance is called...

Back

Closing Costs

Front

Fill in the blank: The average used car price is _______.

Back

$28,000

Front

What is buying a car with a loan also known as?

Back

Financing a car

Front

Leasing a vehicle can be attractive to some individuals due to potentially lower upfront costs compared to purchasing.

Back

True

Front

What is a ticker symbol?

Back

An abbreviation used to identify a stock.

Front

What type of aid are grants considered?

Back

Needs-based aid

Front

Which of the following is NOT a type of grant? Federal Pell Grant, State Grant, Personal Loan

Back

Personal Loan