Personal Finance Ch. 9 quiz

Tax benefits are an advantage of renting an apartment

• True

• False

A legal document that describes the conditions of a rental agreement is called a lease

• True

• False

Renting is often a wise choice for someone who wants....

• Pets

• Stability

• Privacy

• Mobility

A disadvantage of renting is...

• More responsibilities

• Restricted activities

• Increased tax deductions

• High initial costs

The advantages of owning a home are all of the following EXCEPT:

• Stability

• Mobility

• Build Equity

• Tax Benefits

When renting a home, what term refers to the owner of the home?

• Boss

• Coach

• Tenant

• Landlord

Someone that is living in a place or unit that they rent is called a

• Landlord

• Unit

• Tenant

• Agent

Tenants need to have renters insurance because they are not covered on the Landlord's insurance

• True

• False

Which of the following is NOT a factor included in the cost of renting

• Location

• Number of Rooms

• Utilities

• Mortgage

A ___________ deposit refers to money held to cover possible damage in an apartment.

• Cleaning

• Security

• Telephone

• Utilities