Obtain a Mortgage Loan

Obtain a Mortgage Loan

12th Grade

10 Qs

quiz-placeholder

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Obtain a Mortgage Loan

Obtain a Mortgage Loan

Assessment

Quiz

Education

12th Grade

Easy

Created by

Leona H

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the 4 C's of Credit?

Credit, Cash, Character, & Comprehension

Cognition, Collateral, Condition, & Currency

Capacity, Capital, Credit, & Collateral

Character, Capacity, Cash, & Compassion

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Capacity mean?

Your ability to pay

The quantity of goods or services produced

Your mental or physical limits

The availability of resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What's the definition of Capital?

The physical center of a city or town

A form of punishment in legal systems

The top part of a column

Funds available

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What's the meaning of Credit?

A form of currency used in online transactions

Debt obligation & history

A measure of personal success

A type of financial savings account

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What's an example of Collateral?

Cloud computing, cryptocurrencies, virtual reality headsets

House, car, business assets

Hiking trails, solar panels, potted plants

Detective novels, cooking recipes, video game consoles

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prequalification is a guarantee

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pre-approval is a guarantee

True

False

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