Buying A House | Applied Math Quiz
Do you want to buy a new home? You must know about all the terms and calculations related to the purchase. For this, take our informative buying a home math quiz. This quiz will help you know how well do you know about Applied Maths during the purchase of a house. You can practice with all the correct answers and get a perfect score. If you like the quiz questions and answers, share them with friends also, or whosoever is looking for a home.
- 1.A ________ is a loan that helps you purchase a home.
- A.
Mortgage
- B.
Closing
- C.
Interest Rate
- D.
Appraisal
- 2.What is the final step in the loan process?
- A.
Closing
- B.
Pre-approval
- C.
Application
- D.
Processing
- 3.If you don't make your payments on time, you can damage your ________
- A.
Debt
- B.
Credit rating
- C.
Mortgage
- D.
Appraisal
- 4.Taxes that you pay once a year based on the market value of your property.
- A.
Income Taxes
- B.
Sales Tax
- C.
Property Tax
- D.
Mortgage Tax
- 5.A type of insurance that will protect your property against losses as a result of fire, wind, etc.
- A.
Homeowner's insurance
- B.
Appraisal insurance
- C.
Health insurance
- D.
Car insurance
- 6.Which of the following is NOT a cost of moving into an apartment?
- A.
Cleaning Service
- B.
Last month's rent
- C.
Security deposit
- D.
First month's rest
- 7.How often do you pay property tax on a house?
- A.
Weekly
- B.
Monthly
- C.
Quarterly
- D.
Yearly
- 8.Where do you go to obtain a mortgage to buy a house?
- A.
Bank
- B.
DMV
- C.
Realtor
- D.
Post office
- 9.A discount point that is 1% of the purchase price of a house is a:
- A.
Loan Point
- B.
Bank Point
- C.
Credit Point
- D.
Mortgage Point
- 10.You need to know the length and width of a room to figure out how much you need of:
- A.
Paint
- B.
Baseboard
- C.
Carpet
- D.
Ceiling Fan
Questions: 12 | Attempts: 5565722 | Last updated: Mar 22, 2022
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