Tips and Tools For Financial Success - Newton Free Library

Answers to Renting an Apartment Quiz
1. Correct Answer: d. Security deposit
A security deposit is one way that landlords protect themselves against loss. Other types of deposits
might be required such as a key deposit, pet deposit and last month’s rent.
2. Correct Answer: c. Studio
A duplex is a type of housing where two units share a common wall or an apartment on two levels
connected by a staircase. A townhouse is a 2 or 3 story home and a sublet means to allow someone
else to rent your rental. A studio is a one room dwelling.
3. Correct Answer: d. Guarantor
A lessor or a landlord leases the property. A realtor finds tenants for the property. A guarantor or
cosigner promises to pay the rent if the tenant does not.
4. Correct Answer: b. Renter’s insurance
Renters’ insurance may cover things like water damage, fire and theft and may be required by the
landlord.
5. Correct Answer: a. Furniture
Utilities are public services. Though an apartment might be furnished, furniture is not a utility.
6. Correct Answer: b. A walk-through
A walk-through is a prudent measure for both landlord and tenant and may also occur at the end of
a rental period. A lease review is not an inspection and an amenity is a benefit such as a pool.
7. Correct Answer: d. All of the above
This act prohibits many types of discrimination including the ones listed above.
8. Correct Answer: b. 35%
People spent more on housing than any other category.
9. Correct Answer: d. All of the above
Any one of the above reasons can be used to deny an applicant.
10. Correct Answer: c. A rental arrangement that has no expiration date but may be
terminated by either the tenant or landlord
Tenant at will laws vary from state to state. A tenant at will is a rental situation that often doesn’t
have a formal set of rules.
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