Standard 10
1.
One of the advantages of renting is that you
2.
Condominiums are
3.
When making decisions about a place to live, you should
4.
Amenities refer to
5.
“Everyone would own a house if they could afford to do so”. This statement is
6.
Renter’s insurance
7.
A lease specifies _________________________________ when renting a place to live
8.
A down payment is the
9.
Which of the following should be included in a lease before you sign?
10.
Janalee is graduating from college and moving out of the dorm. Her best friend found a job in
Dallas and plans to move soon. Janalee is not sure whether to keep her job in Tulsa or move to
Dallas with her friend. She needs a place to live until she decides. What do you recommend
Janalee does?
11.
Buying a house offers a tax advantage over renting because homeowners
12.
Lil Wayne wants to buy a place but he does not like doing yard work. Lil Wayne should
13.
The purpose for a security deposit is to
14.
Which of these costs are associated with buying a house?
15.
A month-to-month lease can be terminated
16.
Most landlords will ask you to inspect your apartment when you move in, and they give you a form to sign. What should you do?
17.
Which of the following statements is TRUE? a.
Renting an apartment is a greater financial commitment than owning a house

b.
Owning a house is a greater financial commitment than renting an apartment c.
There is little financial difference between owning a house and renting an apartment d.
Owning a house is for wealthy people and renting an apartment is for low income people
18.
Which of the following is a DISADVANTAGE to renting a place to live? Finding a(n)
19.
Juan and Rebecca want to buy a house, but they have no idea what price range they can afford.
What do you recommend to them?
20.
If you want to buy a house, MOST experts would recommend to finance it with a(n)
21.
When negotiating an offer on a house, your top priority is making an offer that
22.
The deposit you pay when making an offer to show you are serious about buying the house is called
23.
If you had to give someone advice on buying a house, what would you recommend?
24.
“Buying a house is the most expensive purchase most people make”. Is this statement true or false?
25.
In addition to making a mortgage payment each month, homeowners are responsible to pay for all of the following EXCEPT
26.
When buying a house, the buyer is required to pay closing costs which includes
27.
If the down payment on your house is less than 20 percent of the house price, you may be required to pay ___________ each month with your mortgage payment
28.
To reduce your monthly house payment, you can
29.
Suppose your gross monthly income is $3,000. Using the Housing Expense Ratio, your maximum housing expense should be
30.
When renting a place to live, utilities are