Instead of buying a house, you might decide to purchase a condominium or a shares in housing cooperative. Which of the following is NOT correct? A. You are a shareholder in a cooperative but you do not own the individual apartment unit. B. You own the apartment unit in a condominium. C. A corporation owns the individual apartment units in a condominium but not for a cooperative. D. As an owner you will pay for the maintenance of the building and facilities of condominiums and cooperatives. You are looking at new cars on the sales lot. The car you like has a "sticker price" or "MSRP" (Manufacturer's Sugested Retail Price) of $20,000. What is an estimate of the "dealer cost" or the dealer's minimum price in negotiations for this car? A. $10,000 B. $16,000 C. $20,000 D. $6,000 Doc White always makes students mad when he gives his advice to NOT buy a new car soon after they graduate. What is a reason that Doc tells students to wait until they are in a better financial condition to buy a car? A. Besides having loan payments, you have to pay for fuel, maintenance, insurance, and property taxes. B. You may have student loan payments in addition to the car loan payments. C. The down payment on the car usually drains your emergency savings. D. All of the above are reasons Doc says to hold off on buying a car. What is Doc's advice for you after you have purchased a house? A. Never use an Open-Ended lease when purchasing a house. B. Make sure to purchase Primary Mortgage Insurance. C. Immediately install landscaping that is worth up to 25% of the value of the house. D. Keep all records associated with the house. Instead of buying a house, you might decide to purchase a condominium or a shares in housing cooperative. Which of the following is NOT correct? A. You are a shareholder in a cooperative but you do not own the individual apartment unit. B. You own the apartment unit in a condominium. C. A corporation owns the individual apartment units in a condominium but not for a cooperative. D. As an owner you will pay for the maintenance of the building and facilities of condominiums and cooperatives. You are looking at new cars on the sales lot. The car you like has a "sticker price" or "MSRP" (Manufacturer's Sugested Retail Price) of $20,000. What is an estimate of the "dealer cost" or the dealer's minimum price in negotiations for this car? A. $10,000 B. $16,000 C. $20,000 D. $6,000 Doc White always makes students mad when he gives his advice to NOT buy a new car soon after they graduate. What is a reason that Doc tells students to wait until they are in a better financial condition to buy a car? A. Besides having loan payments, you have to pay for fuel, maintenance, insurance, and property taxes. B. You may have student loan payments in addition to the car loan payments. C. The down payment on the car usually drains your emergency savings. D. All of the above are reasons Doc says to hold off on buying a car. What is Doc's advice for you after you have purchased a house? A. Never use an Open-Ended lease when purchasing a house. B. Make sure to purchase Primary Mortgage Insurance. C. Immediately install landscaping that is worth up to 25% of the value of the house. D. Keep all records associated with the house
