Housing and real estate bootcamp exam
Big decisions, run with the real numbers. This exam mixes questions from every lesson in the track. Each explanation links to the lesson it came from.
- Compare renting and buying with the full costs
1. What does comparing rent with only the mortgage payment miss?
- Compare renting and buying with the full costs
2. A common maintenance rule of thumb is…
- Check home affordability with the 28/36 guideline
3. Under 28/36, housing should be at most…
- Check home affordability with the 28/36 guideline
4. Which is included in housing cost?
- Balance your down payment, PMI and cash cushion
5. PMI is usually required when the down payment is below…
- Balance your down payment, PMI and cash cushion
6. You can ask to cancel PMI when the balance is scheduled to reach…
- Count closing costs before you buy a home
7. Closing costs commonly run about…
- Count closing costs before you buy a home
8. When must you receive the Closing Disclosure?
- Build a home repair reserve before something breaks
9. A common maintenance rule of thumb is about…
- Build a home repair reserve before something breaks
10. Routine repairs should come from…
- Explore shared housing costs and landlord responsibilities
11. House hacking means…
- Explore shared housing costs and landlord responsibilities
12. Rental income is generally…
- Understand REITs: property exposure through investments
13. REITs must generally distribute at least…
- Understand REITs: property exposure through investments
14. Non-traded REITs can be…
Lesson tests in this bootcamp
- Compare renting and buying with the full costs
- Check home affordability with the 28/36 guideline
- Balance your down payment, PMI and cash cushion
- Count closing costs before you buy a home
- Build a home repair reserve before something breaks
- Explore shared housing costs and landlord responsibilities
- Understand REITs: property exposure through investments