Select The Best Answer For Personal Finance Quiz

9 Questions | Total Attempts: 612

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Select The Best Answer For Personal Finance Quiz

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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