Select The Best Answer For Personal Finance Quiz
9 Questions
| Total Attempts: 697
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Read through each question carefully and select the best answer.
Questions and Answers
- 1.Inflation is the increase of price over a period of time.
- A.
True
- B.
False
- 2.When shopping online “https” in the URL address means you are on a secure website.
- A.
True
- B.
False
- 3.Automatic payments are set up so you don’t have to balance your checkbook.
- A.
True
- B.
False
- 4.Settlement costs that involve the legal details related to purchasing a home are called
- A.
Living Expenses
- B.
Legal Expenses
- C.
Closing Costs
- D.
None of the above
- 5.Taking out a new mortgage at a lower interest rate is called
- A.
Refinancing
- B.
Amortization
- C.
Borrowing
- D.
A good deal!
- 6.This type of loan has a fluctuating interest rate
- A.
Conventional
- B.
Fixed Rate
- C.
VA Loan
- D.
Adjustable Rate
- 7.To obtain a loan, lenders will look at your
- A.
Income
- B.
Debts
- C.
Credit History
- D.
All of the above
- 8.If a home is paid off, the owner does not have any other financial obligations to pay for until the home is sold.
- A.
True
- B.
False
- 9.Subleasing is when the tenant allows someone else to move in and take over the rent payments
- A.
True
- B.
False
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