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  5. Unit 1 Test Review Consumer Math B

Unit 1 Test Review Consumer Math B

Authored by Shannon Saumweber

Mathematics

11th Grade

CCSS covered

Used 2+ times

Unit 1 Test Review Consumer Math B
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15 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If your parents are buying a house for $187,500 with a 20% down payment, what is the down payment amount?

$37,500

$18,750

$20,000

$25,000

Tags

CCSS.6.RP.A.3C

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following statements hold true for secured loans? Select all that apply.

Higher borrowing limits

Easier approval even with lower credit scores

Higher interest rates

Do not require collateral

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following statements hold true for unsecured loans? Select all that apply.

Approval heavily reliant on credit score

Reduced risk due to collateral

Faster and easier approval process

More accessible for those with low credit

4.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

Secured loans are usually for longer periods of time at ______ interest rates.

5.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

Some examples of ________ loans are student loans, personal loans, and home improvement loans.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you pay a monthly payment for a car for a set amount of time, but return it at the end of the set time period, it is called:

renting

buying

owning

leasing

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You will typically need to pay PMI (private mortgage insurance) if you buy a house and do not put a down payment of at least ______ of its value.

10%

15%

20%

25%

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