Fin Lit: Independent Living

Fin Lit: Independent Living

9th - 12th Grade

30 Qs

quiz-placeholder

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Fin Lit: Independent Living

Fin Lit: Independent Living

Assessment

Quiz

Mathematics

9th - 12th Grade

Practice Problem

Hard

CCSS
RI.11-12.5, 6.RP.A.3B, HSF.BF.A.2

+11

Standards-aligned

Created by

Martina Taylor

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A lease is a written agreement between a bank and a borrower.

True

False

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

According to financial experts, a renter should allow no more than _____% of their gross income for rent.

3.

DROPDOWN QUESTION

1 min • 1 pt

Front-end ratio is the ratio of monthly ​ (a)   to monthly ​ (b)   and is expected to be less than ​​ (c)   .

housing expenses
gross income
expenses (all)
home owner's insurance
28%
36%
30%

4.

DROPDOWN QUESTION

1 min • 1 pt

Back-end ratio is the ratio of monthly ​ (a)   ​ to monthly ​ (b)   and is expected to be less than ​ (c)   .

gross income
home owner's insurance
expenses (all)
housing expenses
property taxes
36%
28%
30%

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Aja made a 20% down payment on a house and was selling for $185,000. Therefore, she should expect her closing costs to be about $3,700 to _________.

Tags

CCSS.6.RP.A.3B

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The Jacksons sublet their summer cottage during the winter and spring months. For each month they receive 72% of their monthly mortgage of $1,750. How much do the Jacksons earn for the six-month period?

7.

MATCH QUESTION

1 min • 1 pt

Match each description with the best term.

condominium

Occupants are investors who own shares in the entire property and not individual units.

co-op

Occupants individually own both the home and the land.

landominium

Occupants jointly own the common parts of the property and individually own their own units.

rental unit

Occupants pay monthly housing fee to the landlord who owns the property.

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