Texas Pre-License Principles of Real Estate II Study Guide Flashcard

Front

What is the process of paying off a debt/mortgage in regular installments based on a fixed payment schedule?

Back

Amortization

Front

What is the initial payment made when buying something on credit, paid directly by the buyer to the seller?

Back

Down payment

Front

What is the term for the percentage of a loan amount that a borrower must pay a lender annually as interest on a loan amount?

Back

Interest

Front

What is the term for the amount lent to a borrower to purchase a house?

Back

Principal

Front

What is the term for a financial gain?

Back

Profit

Front

What is the quantitative relation between two numbers called?

Back

Ratio

Front

Which of the following functions must a calculator be able to perform for the licensing exam? Square root, Exponential functions, Graphing

Back

Add, Subtract, Multiply, Divide

Front

What is a percent?

Back

A part of a hundred

Front

How do you convert 38% into decimal form?

Back

0.38

Front

Convert 6% into decimal form.

Back

0.06