Download chapter 5 review game

CHAPTER 5
REVIEW
GAME
ARE YOU READY
FALSE
Warehouse food stores are usually open 24
hours a day.
TRUE
Bad credit score can keep you
from getting a good job.
WILL PAY TO STAY IN
STYLE!
Why are current clothing styles
generally expensive? Manufactures
know that people ________________.
BETWEEN MONEY YOU SAVE
AND THE TIME IT TAKES TO
COLLECT THEM.
Using cent off coupons for food involves
a trade-off between __________ you save
and the _________ it takes to collect
them.
TRUE
Private label foods are 40%
cheaper than brand name foods.
BODILY INJURY AND
PROPERTY DAMAGE.
liability insurance covers _______
injury and __________ damage.
SMALLER
Relative to people at the turn of
the nineteenth century, people
today spend a _____________
percentage on clothes.
SECURITY DEPOSIT
Closing costs include all the
following except one/ legal costs,
title search, security deposit, and
home inspection
TRUE
Interest paid on a mortgage is a
tax-deductible.
LEASE
long-term agreement describing
the terms under which property is
rented are called a
____________.
The tradeoff for comparison shopping
for food involves the price,
__________, and ___________ (what
other two things do you compare
when shopping for food).
Quality and Quantity (size)
$90,000.OO
The most expensive house for which
a person with an annual income of
$45,000 would probably qualify for a
mortgage would be (Using Rule #1).
TRUE
People build equity by purchasing a
home.
FALSE
A mortgage is a type of home
improvement loan.
TRUE
When buying the cheapest
clothes, you usually have to give
up style.
TRUE
Buying the cheapest coat can be
more expensive than buying a
more durable one.
SERVICE FLOW
amount of use a person gets from
an item over time and the value a
person places on that use is call
_________ ________.
FALSE
Where you drive, make no difference
in the cost of insurance.
TRUE BONUS *PAYMENTS AND
INTEREST FLOATS UP AND DOWN
WITH THE _____________ INTEREST
RATE SET BY THE FEDERAL
_________________.
If you have a flexible rate
mortgage, monthly payments
increases when the interest rate
increases.
FALSE BONUS WHAT IS THE
BENEFIT?
There is no benefit of buying a
larger car or truck.
PRIVATE-LABELED PRODUCT BONUS*
WHAT IS THE OTHER NAME FOR
PRIVATE LABELED PRODUCTS?
item that carries the name of a
store
TRUE
You have the right to privacy
when you rent an apartment.
FALSE
You can have an animal in a
rented house even if not stated
the lease.
FALSE
Your budget does not affect the
situation of finding a place to live.
CONVENIENCE STORE
store that is open 16-24 hours a
day and carries a limited
selection of items
FALSE BONUS WHAT PART
OF YOUR TAKE HOME PAY
CAN A MONTHLY PAYMENT
BE.
Monthly payments for a mortgage
should be more than half monthly
take home pay.
TRUE
Extended warranties can save
costly repairs of your car.
POINTS
fees paid to a lender and
computed as percentage of a loan
are called ___________.
TRUE
Young males have the highest
automobile insurance because they
have the most serious of accidents
than any other age group.
TRUE
Automobiles depreciate even
if they are not driven.
TRUE
Normal maintenance of a car is
rotating the tires.
TRUE
Renting a home increases your
mobility more than owning.
DURABILITY
ability of an item to last a long
time, the item has ___________.
FALSE BONUS SAVE ____%
By using cents-off coupons, you
can save up to 40% on your food
budget in a year time.
FALSE
VA mortgages are made to low
income people who have qualified
by FHA standards.
TRUE
The bad thing about a Flexible
Rate Mortgage, payments can
increase.
TRUE
You can receive a good credit
rating if you pay your rent on
time.
CLUB WAREHOUSE
People who are able to use or
store large quantities of bulk food
items can save money by
shopping at _______________.
CLOSING COST
What are the fees involved in
arranging for a mortgage or in
transferring ownership of
property called?