WGU D363 SECTION 2 ASESSMENT TEST WITH CORRECT
RATIONALES
1. Anika is trying to decide if she should continue to rent C) She should
continue to
or if she should buy a home. Her lease is up in four rent, because
cash flow is
months. She has $10,000 saved so far for a down pay- higher for
renters.
ment on a house. She also wants to be sure that
if she buys a home she will still be able to have a
high enough cash flow to continue to save.
Which decision should she make about housing
and for what reason?
A) She should rent until the end of her lease
in order to avoid paying rent and a
mortgage.
B) She should purchase a home, because she
has a large down payment saved.
C)She should continue to rent, because cash
flow is higher for renters.
D) She should purchase a home, because cash
flow is higher for homeowners.
2. Lucas is buying a home. He found the perfect home for B)
Mortgage insurance
$210,000. He currently has $21,000 saved for
the down payment.
What will his mortgage company require, given
the amount of his down payment?
A) Homeowner's insurance
B) Mortgage insurance
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13
, WGU D363 SECTION 2 ASESSMENT TEST WITH CORRECT
RATIONALES
C)A lower loan to value (LTV) ratio
D) Home warranty insurance
3. When Nora closed on her new home, she was given an C) Nora will
know the
amortization schedule for her mortgage. dollar amount of every
2/
13
RATIONALES
1. Anika is trying to decide if she should continue to rent C) She should
continue to
or if she should buy a home. Her lease is up in four rent, because
cash flow is
months. She has $10,000 saved so far for a down pay- higher for
renters.
ment on a house. She also wants to be sure that
if she buys a home she will still be able to have a
high enough cash flow to continue to save.
Which decision should she make about housing
and for what reason?
A) She should rent until the end of her lease
in order to avoid paying rent and a
mortgage.
B) She should purchase a home, because she
has a large down payment saved.
C)She should continue to rent, because cash
flow is higher for renters.
D) She should purchase a home, because cash
flow is higher for homeowners.
2. Lucas is buying a home. He found the perfect home for B)
Mortgage insurance
$210,000. He currently has $21,000 saved for
the down payment.
What will his mortgage company require, given
the amount of his down payment?
A) Homeowner's insurance
B) Mortgage insurance
1/
13
, WGU D363 SECTION 2 ASESSMENT TEST WITH CORRECT
RATIONALES
C)A lower loan to value (LTV) ratio
D) Home warranty insurance
3. When Nora closed on her new home, she was given an C) Nora will
know the
amortization schedule for her mortgage. dollar amount of every
2/
13
