placeholder image to represent content

Unit 3: Consumer Skills for Housing Needs

Quiz by Alicia Gonzales

High School
Dollars and Sense
Texas Essential Knowledge and Skills (TEKS) - Electives

Feel free to use or edit a copy

includes Teacher and Student dashboards

Measures 3 skills from
High School
Dollars and Sense
Texas Essential Knowledge and Skills (TEKS) - Electives

130.273.J.4.B
130.273.J.4.A
130.273.J.4.C

Track each student's skills and progress in your Mastery dashboards

With a free account, teachers can
  • edit the questions
  • save a copy for later
  • start a class game
  • automatically assign follow-up activities based on students’ scores
  • assign as homework
  • share a link with colleagues
  • print as a bubble sheet

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
10 questions
Show answers
  • Q1
    Which of the following is true about an adjustable rate mortgage?
    The rate is adjusted at a predetermined time, such as a year.
    The rate is adjusted when the economy has grown by a predetermined amount, such as 5%.
    The lender has the power to decide when the rate is adjusted.
    The borrower has the power to decide when the rate is adjusted.
    30s
    130.273.J.4.B
  • Q2
    Which of the following accurately identifies a reason for choosing an adjustable rate mortgage over a fixed rate mortgage?
    Unlike a fixed rate mortgage, an adjustable rate mortgage does not include a teaser rate.
    The borrower plans to stay in the home for at least seven years.
    The borrower believes that interest rates will go up in the foreseeable future.
    The starting rate for an adjustable rate mortgage is often lower than the available rate for a fixed rate mortgage.
    30s
    130.273.J.4.B
  • Q3
    Which of the following types of loans is most likely to have a teaser rate?
    a subprime mortgage
    a default mortgage
    an adjustable rate mortgage
    a fixed rate mortgage
    30s
    130.273.J.4.B
  • Q4
    Rentals usually require payment of ________ to protect the owners from property damage done by renters who move out without paying for the damage.
    a collateral
    principal
    interest
    a security deposit
    30s
    130.273.J.4.A
  • Q5
    Which of the following is an advantage of renting over buying a home?
    Renting frees you from the responsibility of property maintenance and upkeep.
    Renting provides an opportunity for you to build equity and increase your net worth.
    Renting provides a deduction that can lower the amount of tax you owe.
    Renting does not require a down payment or deposit.
    30s
    130.273.J.4.A
  • Q6
    In general, it does not make financial sense to purchase a home unless you plan on living in the area for several years.
    False
    True
    30s
    130.273.J.4.C
  • Q7
    If you have a small down payment or no down payment, you will end up paying a higher rate for a mortgage loan.
    True
    False
    30s
    130.273.J.4.C
  • Q8
    A homeowner's lender will require the homeowner to have enough homeowner's insurance to cover ________.
    the market value of the home
    the interest due on the loan
    the amount of the mortgage on the home
    the collateral used to secure the loan
    30s
    130.273.J.4.B
  • Q9
    In a mortgage, the purchased home becomes collateral for the loan.
    False
    True
    30s
    130.273.J.4.B
  • Q10
    You can insure jewelry or valuable heirlooms often not covered by a typical homeowner's policy with a ________.
    policy rider
    collateral rider
    principal coverage
    liability coverage
    30s
    130.273.J.4.A

Teachers give this quiz to your class