Buying A House | Applied Math Quiz

10 Questions | Total Attempts: 210

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Buying A House | Applied Math Quiz - 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.


Questions and Answers
  • 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

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