01

Question 1

the process of paying off a debt/mortgage in regular installments based on a fixed payment schedule.

Answer 1

amortization

Question 2

a fraction whose denominator is a power of ten and whose numerator is expressed by figured to the right of a decimal point.

Answer 2

decimal

Question 3

the number below the fraction’s bottom line or the number of equal parts in total.

Answer 3

denominator

Question 4

the initial payment made when buying something on credit; a down payment is paid directly by the buyer to the seller.

Answer 4

down payment

Question 5

part of a whole, not a whole number.

Answer 5

fraction

Question 6

a fraction in which the value of the numerator (the number on top) is greater than the denominator ( the number on the bottom).

Answer 6

improper fraction

Question 7

the percentage of a loan amount that a borrower must pay a lender annually as interest on a loan amount.

Answer 7

interest

Question 8

a financial loss.

Answer 8

loss

Question 9

a number consisting of a whole number and a fraction.

Answer 9

mixed number

Question 10

security instrument that creates a mortgage lien on mortgage’s property in exchange for loan.

Answer 10

mortgage

Question 11

the number on top of a fraction’s division line or the number of the parts with which you are working.

Answer 11

numerator

Question 12

a fraction or ratio with a denominator of 100, usually written as just the numerator and a % symbol.

Answer 12

percentage

Question 13

the amount lent to a borrower to purchase a house.

Answer 13

principal

Question 14

a financial gain.

Answer 14

profit

Question 15

the quantitive relation between two numbers.

Answer 15

ratio

Question 16

any number between zero and infinity that is not a fraction or a negative number.

Answer 16

whole number

Question 17

a portion of the total amount, the numerator (3 of 3/4).

Answer 17

part

Question 18

the “final” or “end result”; the denominator (4 of 3/4).

Answer 18

total

Question 19

a unit of area measurement used to determine the size of land; 1 acre = 43,560 square feet.

Answer 19

acreage

Question 20

a unit of area measurement used to compare the size of buildings (length x width).

Answer 20

square footage

Question 21

the value of a property, based on factors determined by the opinion of a certified appraiser.

Answer 21

appraisal

Question 22

an estimation of property’s value as of a specific date, performed by a certified appraiser.

Answer 22

appraised value

Question 23

the value placed on a property by a governmental unit for use in calculating property taxes.

Answer 23

assessed value

Question 24

the literal age of a property.

Answer 24

chronological age

Question 25

a method of estimating the value of a property by determining how much it would cost to replace the building or other improvements, minus the cost of depreciation, onus the value of the land itself.

Answer 25

cost approach