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Assessment: Pre- and Post-test: Answer
Sheet
Vocabulary Terms
Write the letter of the term that correctly
matches the definition below:
a. closing costs
b. credit report
c. debts
d. down payment
e. job history
f. asking price
g. commission
h. floor plan
i. market value
j. real estate agent
k. adjustable-rate mortgage
l. fixed-rate mortgage
m. gross monthly income
n. net monthly income
o. nontraditional credit history
p. budget
q. fire alarm
r. routine maintenance
s. tax advantage
t. utilities
Definitions
Unit One
1. b A report of your credit history.
2. e A list of the places you have
worked, your job title, the dates of employment, and your
salary.
3. a The expenses of transferring
ownership of a property, above and beyond the sales price.
4. d The section of the purchase
price of the house that the buyer pays in cash.
5. c The money you owe on long-term
loans such as car loans, student loans, mortgage loans,
and possibly the payments you owe on credit cards.
Unit Two
6. h A plan for a house showing
the location and measurements of rooms, windows, doors,
and appliances.
7. j A person who helps you find
a home to buy and receives a commission from the sale of
the home.
8. f The advertised amount of money
the seller wants for a home.
9. i The expected value of the
home for sale based on recent sales prices for similar homes
that are nearby.
10. g The percentage of the sales
price that the real estate agent receives.
Unit Three
11. o A credit history you can
prepare if you do not have credit cards or never had a loan.
12. m Your total monthly income
from all sources before taxes are taken out.
13. k A mortgage that has an interest
rate that can go up or down periodically.
14. n Your total monthly income
after taxes are taken out.
15. l A mortgage in which the interest
rate does not change during the entire term of the loan.
Unit Four
16. s Federal income tax deduction
of the interest you paid on your home loan.
17. q A device that alerts residents
to smoke and fire.
18. p A plan that lists all your
monthly income and expenses.
19. r Servicing things around the
house to prevent problems from occurring.
20. t Public services such as the
supply of water, electricity, and gas.
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