PATHWAYS TO HOME OWNERSHIP, Student Assessment
Email Address:
1)
High School Grade Level:
Nine
Ten
Eleven
Twelve
Other:
2)
School System/District and School Name:
(Example: Jefferson County, Campbell County, etc.)
3)
Test Given As:
Pre-test
(skip question 4 and go to question 5)
Post-test
4)
Lessons Taught:
1. Advantages of Home Ownership
2. Setting Your Financial Goals
3. Making Yourself Creditworthy
4. How Much Can You Borrow?
5. Finding the Right Home for You
6. Understanding Home Mortgages
7. Securing a Home Mortgage
8. Foreclosure
5)
Extent to which you feel that you have been previously exposed to economics and/or
personal finance concepts:
A great deal
Probably more than average
Their exposure is about average
Probably less than average
No exposure at all
Directions:
Use two or three sentences to complete each thought in the space provided below:
1)
I would describe the advantages of home ownership as:
2)
I think I would be a (good or bad) home owner because I:
Directions:
For each of question below, pick the numerical response that best fits the question.
3)
I think that it would be ___________ to study about home ownership and personal finance.
FUN
1
2
3
4
5
6
7
BORING
4)
Being a home owner would be ________.
HARD WORK
1
2
3
4
5
6
7
EASY
5)
I think that home ownership is ___________ for our state and community.
BAD
1
2
3
4
5
6
7
GOOD
6)
Personally, I know ____________ about personal finance and home ownership.
A GREAT DEAL
1
2
3
4
5
6
7
VERY LITTLE
7)
Entrepreneurs ought to be appreciated ______________ in our community.
LESS
1
2
3
4
5
6
7
MORE
8)
I would like to know ______________ about personal finance and home ownership.
MORE
1
2
3
4
5
6
7
LESS
Directions:
Circle the response (a, b, c, or d) that best answers the question.
9)
Which of the following are benefits of buying a house for a first time home buyer?
a)
Pride of ownership
c)
Freedom of control
b)
Achieve financial stability
d)
All of the above
10)
The difference between what a home is worth and what is owed is ___________.
a)
collateral
c)
equity
b)
profit
d)
asset
11)
Economists believe it is important to invest in ____________ the sum of one’s education,
training, abilities, health, and motivation.
a)
equity
c)
collateral
b)
entrepreneurial ability
d)
human capital
12)
Expenses which are usually for non-necessities that can vary widely over time,
depending on the choice you make are ___________.
a)
financial values
c)
variable expense
b)
fixed expenses
d)
net income
13)
_________ are the personal beliefs about what you regard as important, worthy, desirable,
or acceptable.
a)
Factors of production
c)
Financial values
b)
Entrepreneurial dispositions
d)
Opportunity cost
14)
The formal legal procedure in which the lender seeks to regain property pledged as
collateral against a mortgage because the borrower has defaulted on payments
is _________.
a)
securitizing mortgage
c)
balloon payment
b)
phishing
d)
foreclosure
15)
Which of the following is NOT one of the components of good money management:
a)
unplanned expenditures
c)
following a plan
b)
establishing a plan
d)
setting priorities
16)
These are unrealistically low introductory rates, which require the borrower to pay almost no
interest the first five or six months of the loan or mortgage:
a)
fixed rates
c)
teaser rates
b)
graduated rates
d)
predatory rates
17)
Which of the following is savings and assets that can be used as collateral for loans?
a)
character
c)
capacity
b)
ceteris paribus
d)
capital
18)
A mortgage whose monthly payment increases or decreases with changes in the interest rate
is a(n) __________________.
a)
interest only mortgage
c)
growing equity mortgage
b)
graduated payment mortgage
d)
adjustable rate mortgage