Financial Literacy Quiz

Plant Roots,

Grow Wealth.

Home is where your story begins.

It is where you put down roots, grow your family and start a path to your financial freedom

Financial Literacy Quiz

<section data-block="SingleChoice"><h3>What is the recommended percentage of your monthly income that should be allocated to housing expenses, including mortgage, insurance and property taxes?</h3><ul><li>20-25%</li><li>30-35%</li><li>40-45%</li><li>50-55%</li></ul></section><section data-block="SingleChoice"><h3>What is the typical down payment percentage required for a conventional mortgage?</h3><ul><li>5%</li><li>10%</li><li>15%</li><li>20%</li></ul></section><section data-block="SingleChoice"><h3>What is Private Mortgage Insurance (PMI) and when is it typically required?</h3><ul><li>Insurance that protects the homeowner in case of natural disasters</li><li>Insurance that protects the lender in case of borrower default, required for down payments less than 20%</li><li>Insurance that covers the homeowner's personal belongings within the property</li><li>Insurance that protects against property damage caused by negligent acts</li></ul></section><section data-block="SingleChoice"><h3>Which of the following factors typically affects your credit score the most?</h3><ul><li>Length of credit history</li><li>Types of credit used</li><li>Payment history</li><li>New credit accounts</li></ul></section><section data-block="SingleChoice"><h3>What is a good debt-to-income ratio for mortgage qualification?</h3><ul><li>20%</li><li>30%</li><li>40%</li><li>50%</li></ul></section>

Financial Literacy Quiz

Plant Roots,

Grow Wealth.

Home is where your story begins.

It is where you put down roots, grow your family and start a path to your financial freedom

Financial Literacy Quiz

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