CH11 SEC 2 & 4

CH11 SEC 2 & 4

11th Grade

28 Qs

quiz-placeholder

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CH11 SEC 2 & 4

CH11 SEC 2 & 4

Assessment

Quiz

Mathematics

11th Grade

Medium

Created by

Aaron Munguia

Used 3+ times

FREE Resource

28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main idea of the text?

To compare the costs of different types of mortgages

To discuss the financial implications of renting versus buying a house

To explain how to get a mortgage

To provide a survey on current renters' opinions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does renting involve according to the text?

Making a one-time payment for the use of a property

Periodic payments to a landlord for the use of a property

Paying a fixed-rate mortgage

Transferring ownership of a property

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed-rate mortgage?

A mortgage with a variable interest rate

A mortgage with a set interest rate for a set number of years

The amount borrowed to purchase a home

A type of rental agreement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of current renters say that having the money for a down payment is a reason to consider buying a house?

77%

50%

25%

90%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Before deciding to buy a house, you should have all of the following EXCEPT:

A fully funded emergency fund of three to six months of expenses

Complete freedom from debt

A job that pays at least twice the mortgage

Payment and closing costs covered

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the text, why might renting be a better option if you plan on staying in an area for less than three years?

Renting is always cheaper than buying.

Renting allows you to avoid the long-term costs of homeownership.

Renting offers more flexibility and less commitment than buying.

Renting includes maintenance and taxes in the monthly payment.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one reason mentioned in the text for why homeownership might be considered a better deal in the long term?

Homeownership always includes maintenance in the mortgage payment.

Rent prices are not affected by inflation.

Homeownership allows you to avoid worries about the landlord increasing rent.

Renting always comes with homeowner's insurance.

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