Unit 6 Quiz - Tuttle Spring 24 - 5th hour

Most lease agreements contain a provision that allows the landlord to enter the home without notice under certain reasonable conditions such as a flood ?

• True
• False

Which of the following up-front lease expenses is most likely to be refunded?

• First month’s rent
• Last month’s rent
• Security deposit
• Application fees
• All of the above

Which of the following utility expenses are most likely to be included in your monthly rent?

• Water and gas
• Electricity and gas
• Cable and water
• Water and garbage/trash removal
• Option 5

Which of the following lease terms for an apartment is often the most expensive in a given month (the price you pay in a month, not the overall amount)?

• Month-to-month
• Three months
• Six months
• One year

Christian is excited for his new apartment but was shocked at the amount of money he needed up front to sign his lease. The rent is only $800 a month. However, upon signing, Christian had to pay first and last month’s rent, a $250 security deposit, and a $200 pet deposit. What amount did Christian pay in total?

• $900
• $1,250
• $2,050
• $2,300
• $2,500

David is thinking about taking his family on a trip to Disney World. His car gets good gas mileage (28 mpg), and the drive is about 950 miles each way. What amount would it cost him to drive there and back if the average gas price along the way is $3.50?

• About $605
• About $475
• About $237
• None of these are correct

Jonathan recently got a new job and needs to adjust his gasoline budget to accommodate a longer commute. He estimates he will drive about 1,200 miles a month. Gasoline averages about $3.95 a gallon where he lives, and his car gets around 27 mpg. What amount should he budget to ensure he has enough money for gas each month? (Select the answer you feel is most correct, there is more than one possibility!) (Miles driven / mpg) x gas prices = fuel costs

• $175 would cover his estimated driving per month
• $200 would cover his estimated driving per month with a little extra
• $145
• $85
• $500

Which of the following is not a major cost of vehicle ownership?

• Insurance
• Fuel
• Repairs a braken headlight
• Maintenance such as an oil change
• Cleaning and detailing

Alyssa recently bought a used Honda Accord and was surprised her insurance rates were so high. Which of the following most likely explains why her rates were so high? (there are two possible answers)

• She uses her car for personal reasons rather than business.
• The make and model of her car has a history of being stolen more than others.
• Women are typically more expensive to insure regardless of the vehicle.
• Her car is red, so it is more likely to be ticketed.

Sarah has decided to buy a new car. After reviewing her finances, she feels the most she can afford to spend is $12,000 max. When she arrives at the dealership, the salesperson conducts a needs assessment to help her find the right vehicle. He asks, “About what amount are you looking to spend?” Which of the following responses would be wisest for Sarah? **Read all the possible answers, only ONE is correct**

• I am more concerned with my monthly payment and cannot go above $250 a month.
• I do not want to spend more than $12,000.
• It really depends on how much I like the car.
• I’d like to stay around $10,000, but I could go as high as $11,500 if I really like the car.