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Individual Development Account

Homeownership, Small Business and Preparing for College Pretest

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1. If you can get a good interest rate it is always a good idea to buy a house.

True or False

2. If you are going to buy a home in one year it is a good idea to pay off all your credit card debt before you apply for a mortgage loan.

True or False

3. What is more important in considering a home for purchase.

a) The location – does it fit your lifestyle

b) The floor coverings in the bedrooms and bathrooms

4. The United States Department of Agriculture can be a home lending source if you live in Fayetteville.

True or False

5. The very best marketing for your small business is to buy an ad on television

True or False

6. A good reason to incorporate your small business is to protect you individually from the liabilities of your business.

True or False

7. What is a very important thing to do when you are thinking about starting a small business?

a) Find a location

b) Borrow money from the bank to get started

c) Write a business plan that lists your strengths and weaknesses

8. When you are choosing a career always go with the one that pays the most now.

True or False

9. One good place to start looking for money for college is on the web.

True or False

10. If you are a tactile learner you probably should not try to go to college.

True or False

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