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Auto Insurance, a Mortgage and Buying a House 1. A home loan or other real-estate loan is called a        A  Estate loan        B  Mortgage*        C  Loan of Real-Estate        D  Deed 2. A mortgage loan above a certain limit, which ranged from $417,000 to $729,750       in 2008 is called a        A  Mammoth Mortgage        B  Hippo Mortgage        C  Elephant Mortgage        D  Jumbo Mortgage* 3. In insurance, the amount you pay the insurance company for your coverage is        A  the Obligation        B  the Update        C  the Monthly        D  the Premium* 4. in a loan, the actual amount you borrowed is called the        A  Principle*        B  Interest        C  Face        D  Load 5. An increase in price or value over time is called        A  Apprehension        B  Anticipation        C  Depreciation        D  Appreciation* 6. The up-front sales charge applied when you buy shares of certain mutual funds is called        A  Intialization Fee        B  New Account Charge        C  Front-End Load*        D  Intial Sales Charges 7. Money or property put into the hands of a third party until certain conditions are met       is called        A  Deed in Trust        B  Funds in Trust        C  Estate        D  Escrow* 8. An interest rate that can change is called a        A  Variable Interest Rate*        B  Changable Rate        C  Elastic Rate        D  Vacilating Rate 9. ARM stands for        A  Average Retail Markup        B  Average Return Monthly        C  Adjustable Rate Mortgage*        D  Adjusted Retail Markup 10. A mortgage of home loan where the interest rate can go up or down       every year depending on the broader rate in the economy is called        A  an Equity Based Home Loan        B  a Variable Annuity Mortgage        C  a Prime Rated Loan Mortgage        D  an Adjustable Rate Mortgage* 11. In home-buying, one point equals 1 percent of the amount borrowed. This up-front       fee is called        A  Home-Buyer's Fees        B  Home-Closing Fees        C  Up-Front Fees        D  Points* 12. A document that shows interest and principle payments for the life of a loan is called        A  a Depreciation Schedule        B  an Amortization Schedule*        C  a Payments Chart        D  A Banker's Roadmap 13. In real estate, the portion of the property that is yours after the debt is subtracted is called        A  Claims        B  Assets        C  Liabilities        D  Equity* 14. The process where a bank or other lender takes possession of a home after the       homeowner has failed to keep up with mortgage or home-equity-loan payments.        A  Default        B  Foreclosure*        C  Confiscation        D  Elimination 15. Insurance coverage that will pay you enough to actually replace possessions that       have been damaged or destroyoed, rather than reimbursing you for their recent        price is        A  Maximization Coverage        B  Replacement Cost Coverage*        C  Out-of-Pocket Coverage        D  None of these