Real Estate & Property Liability

NAME ______

REAL ESTATE & PROPERTY LIABILITY

1. What are the 6 categories of people when making a housing decision.
2. Renting a Residence
3. ADVANTAGES

1. DISADVANTAGES

1. What are the 9 Advantagesof Owning (3 slides)

1. What are two ways people look at who pays more renters or owners;

1. Using the chart on Renting vs Buying, what are the positives (things listed in parenthesis) of owning?

1. What are the 6 options for single family dwellings?

1. Step 1 in home buying process is determining how much you can afford. What are the 5 parts of determination?

1. Step 2 in home buying process is evaluation of property. What are the 6 components of evaluation?

1. Step 3 in home buying process is pricing. What are the 3 portions of pricing a property?

1. Using the chart on loan Principal & Interest:
2. What is the difference in payment between a 30 yr mortgage and a 15 yr mortgage@ 7%?

1. What is the difference in payment between a 20 yr mortgage and a 15 yr mortgage@ 7%?

1. What is the difference in payment between a 30 yr mortgage and a 15 yr mortgage@ 4.5%?

1. What is the difference in payment between a 15 yr mortgage @ 5% and a 15 yr mortgage@ 10%?

1. Using the chart on down payments, what is the effect of paying more down on a house.

1. What are the 10 types of mortgages a person can obtain to buy a house (3 slides)

1. Step 4 in home buying process is financing. What are 3 things that are part of obtaining financing?

1. What are the 6 parts of qualifying for a mortgage?

1. Step 5 in home buying process is closing. What are 10 things that are part of closing on a house?

1. What are the 7 elements of buying a house?

1. What 4 things do you need to do to sell your home?

1. When leaving an apartment, what are the 6 things you need to do to get your deposit returned>

1. List the 4 typed of real estate agents.

RISK MANAGEMENT & LIABILITY

1. What is risk management?

1. Describe
2. Pure Risk

1. Speculative Risk

1. What are the 4 ways to manage risk?

1. List the 5 parts of risk management process.

1. Using the Decision Making Matrix, What should a person do with a high frequency low severity risk?
2. List the 5 mechanisms for risk management

1. Read the next 3 slides, summarize in 1 or 2 sentences, what is insurance.

1. What are 3 types of hazards?

1. What are 3 types of financial loss?

1. What are the 2 types of insurance? What factors influence cost?

1. Recreate the reimbursement formula. What does each variable mean?

1. List the 2 types of homeowner coverage

1. What 4 things should you consider when buying homeowners insurance?

1. List the 8 forms of Home Owners Insurance

1. What are 5 things you should consider when deciding on how much coverage you need?

1. What items should be covered in a renters policy? What percent of renters have a policy?

1. What is the difference between replacement cost and Actual cash value coverage?

1. Recreate the formula for determining actual cash value. Include the definition for each vaiable.

1. What does a home inventory do?

1. What are 6 factors that affect the cost of insurance policies.

1. What loses are covered in an auto insurance policy?

1. What does the 100, 300 and 50 stand for in Liability coverage?

1. What bodily injury coverage is covered in auto insurance

1. What are the 2 types of motorist coverage for auto insurance?

1. What does property damage coverage cover?

1. Explain what collision coverage is?

1. What things do comprehensive coverage cover?

1. Explain no fault insurance.

1. List the 4 factors influencing auto premiums. Include the types of discounts

1. What is an umbrella policy?

1. What 3 things do you need to do to collect on a property or liability loss?

1. List the 8 things that can help you make sense of an insurance policy.

1. How can you save on property or liability insurance?