W!SE Practice Test Questions

Most landlords require the renter to pay a security deposit at the beginning of the rental agreement. Which is true about the security deposit?

• The deposit is kept by the landlord to cover his management costs

• The deposit can never be greater than $100

• The deposit can be used to repair damage caused by the tenant during the term of the lease

• None of these

The most important thing to consider when choosing an apartment is:

• Whether or not pets are allowed

• How many bedrooms there are

• Whether or not the apartment is located on a bus line

• If you can afford to pay your rent and other costs on an ongoing basis

Which of the following information would not be found in a typical lease?

• The amount of the monthly rent, and the day of the month it is due.

• The name of the previous tenant.

• The address of the unit being rented.

• The beginning and ending dates of the rental agreement.

A landlord can refuse to rent you an apartment if which of the following is true:

• You are married.

• You own a cat and a dog.

• Your ancestors were immigrants

• You are a member of a particular faith group.

Which of the following are considerations in choosing an apartment?

• Cost

• Proximity (how close or far) to work

• Availability of mass transit (public transportation)

• All of the above

The location of a home is important because:

• A good location will make the home easier to sell.

• Homes in good locations will usually appreciate (increase) in value.

• Not all locations have good school systems or the same amenities.

• All of the above.

A real estate agent is able to:

• Get you a lower price on a home

• Arrange for you to tour homes that you are interested in purchasing

• Assist you at closing

• Both B & C

This will allow you to borrow the money to buy a car. You will have to pay it back, with interest, over time:

• Gift

• Lease

• Loan

• Lend-lease

This allows you to use a car for a specific period of time for a specified monthly payment:

• Loan

• Contract

• Lease

• Gift

Tax deductions and tax credits can _______ tax liability.

• increase

• reduce

• not affect

• none of the above