Chapter 21 & 23: Home & Auto Flashcards
….. apartment is one that is not provided with such items as table, chairs, furniture, or other items -
Unfurnished
Is a nonrefundable charge for a service -
Fees
One who takes possession of an apartment or other rental unit with the intent of living there is called the ..
Tenant
Is an individually owned unit in an apartment-style complex w/ shared ownership of common areas -
Condo
Is a refundable amount paid in advanced to protect the owner against damage or nonpayment -
Security deposit
A service, such as light, power or water is known as …
Utilities
A ….. residence contains basic furniture, such as the bed, dresser, sofa, chairs, and dinning room furniture -
Furnished
A building w/ two seperate living quarters is called an -
Duplex
Is the owner of the property that is being rented or leased -
Landlord
A rental …… should be filled out at the time you move into a property -
Inventory
Buildings that contain many small rooms for on-campus student housing are -
Dormitorys
Is a written agreement to rent property at a certain price for a specified time period -
Lease
A studio apartment, or ….., is a single room serving as kitchen, living room, and bedroom
Efficiency apartment
Its where the landlord has a legal right to remove someone from a rental unit -
Eviction
The process by which students join fraternities and sororities
Pledging
The landlord is also known as the …. when signing a lease -
Lessor
In a housing ……, students share in cooking, cleaning, and maintaining the building -
Co-op
Renting furniture w/ the option to buy it is called -
Rent-to-own option
T or F
Furniture and furnishings that are purchased jointly must be divided when the living arrangement is dissolved -
True
T or F
A move across town when renting a moving truck would be just as expensive as moving across the state.
False
T or F
When you become a new utility costumer, you may be required to pay a deposit, which is usually refundable when your credit has been established.
True
T or F
Monthly service rates for telephones vary according to number of phones, types of phones, and other optional services selected
True
T or F
It is necessary to give 30 to 60 days notice if you intend to move out of your rented residence ; otherwise you may lose all or part of your deposit -
True
T or F
Most people go directly from living at home w/ their parents to owning their own home -
False
T or F
A major disadvantage of apartment living is the lack of privacy -
True
T or F
Most apartments have more space than the average duplex or house -
False
T or F
It is important to decide if potential roommates have compatible personalities and living habits -
True
T or F
Generally the larger the apartment, the more rent you will pay
True
T or F
A lease move-in special is always advantageous to the renter, even if he/she has to move out early
False
T or F
An inventory should be taken when you first move into any rental unit
True
T or F
Rental houses are often more expensive to rent than apartments
True
College students living on campus usually find ….. to be the most economical housing choice
Dormitories
An expense that would probably be shared equally be roommates is
Utilities
You should begin to plan the actual move to a residence in …
Several months
An … often has all or part of the utilities included w the rent payment
Apartment
The …… probably does not require an initial deposit -
Viewing an apartment that is available for rent
What situation might require a higher rent or security deposit for a tenant -
Having a pet
An individually owned unit in a multi-unit structure is a
Condominium
A refundable down payment is -
Deposit
In order to prevent forfeiture of deposits, a renter should give a minimum of ….. days prior notice to vacate a rented space
30days
An …. is most often chosen by young people moving away from home for the first time -
Apartment
3 on-campus housing -
Dormitory
Sorority/fraternity housing
Cooperative housing
People choose condos over houses becasue less …
Work
When planning your move (3) -
Group financial decisions
Moving costs
Installation charges
Advantages of renting -
Mobility Conscience Minimal responsibilities Social life Lower living expenses
Disadvantages of renting -
Noise Lack of privacy Small quarters Lack of storage Lack of parking
3 rental agreements -
Leases
Month-to-month agreements
Rental inventory
Its where you have to pay for damages -
Rental inventory
Landlord’s Rights (2) -
Right to rent
Right to regain the realty and fixtures
Landlord duties -
Maintain premises
Pay property taxes
Voluntary termination
Its where they can terminate the lease earlier if they want -
Voluntary termination
Tenants Rights (3) -
Rights of Possession
Right to use the property
Right to assign the lease or sublet
Tenants Duties (3) -
Pay rent
Take care of property interior
Tort duty
Finding out how much money you can borrow is a process called
Pre-approval
It is displayed in printed forms on vehicles; it is the suggested retail price
Sticker price
when you… a vehicle, you can compare ride, handling, features, and cost at several dealers
test drive
it assures that the car meets minimum clean air standards -
vehicle emission test
each car has a unique ….. that identifies it -
vehicle identification number
….. are high-priced, high-profit dealer services with little or no value -
dealer add-ons
a contractual agreement called ….. allows monthly payments for the use of a vehicle, w/o ownership -
leasing
the decline in value of a vehicle during its lifetime is called -
depreciation
very old vehicles in excellent condition may ….. or increase in value -
appreciate
it lists the legal owner and the registered owner of a vehicle -
car title
when car paint begins to ……., it permanently loses its color and shine -
oxidize
coarse and strong chemicals, called ……, can damage the paint on a car -
abrasives
the cars interior ……, or covering on seats, must be maintained to preserve it -
upholstery
is a written guarantee of the soundness of a product -
warranty
consumers are protected by ……, which identify cars as being unrepariable -
lemon laws
…… can be used to rid the surface of a car of scratches, scuffs, and stains
polishing compound
is a type of vehicle that uses alternate energy sources
hybrid
the federal trade comission requires dealers to place a sticker, called the ……, on all used cars they offer
Buyer’s guide
T or F
the first step in buying a car is deciding what type of car you want -
true
T or F
it is import to get credit approval after you have selectted the car of your choice
false
T or F
it is almost impossible to determine a fair price for a new car
false
T or f
when buying a car, it is best to go slowly and not be in a hurry to buy -
true
T or F
vehicle emission tests are free; expenses to fix a car to meet emission standards are also free.
false
T or F
preapproval adds to the total costs of buying a car
false
T or F
dealer add-ons are considered unnecessary and expensive
true
t or F
most new car dealers offer financing options for car purchases -
true
T or F
lemon laws generally require you to have good documentation of your car problems -
true
T or F
leasing a car is a good idea for most, if not all, car drivers
false
when is the best time to get credit preapproval ?
before visitng car dealers
the single greatest cost of owning a new car is -
depreciation
many new cars claim to run …. miles or more between oil changes -
7000
a car that permantely loses its shine is said to be …
oxidized
the most durable upholstery surface is ..
leather
12 steps in the car-buying process -
- identify your needs / wants
- determine what u can afford
- indentify/research choices
- decided buy new or used
- get credit pre-approval
- search for available vehicles
- test drive
- check history of used vehicle
- get vehicle checked
- vehicle emission test
- determine fair price
- negotiate the price
financing your car (3) -
financial institutions
car dealers
leasing a car
they protect you from buying a bad car
-if they cant replace it, they must give all money back
lemon laws
they say you must have a buyers guide taped to the window of your car
-to show if its been used or problems w it
federal trade comission
cost of operating a car - (5)
gas/oil depreciation registration & title maintenance & repairs accessories
Extending the life of your car -
maintain fluid levels perform routine maintenance keep car in garage preserve exterior preserve interior follow wise driving habits
