135
QuizMultiple Choice

Home Ownership — Cumulative exam

Question 135 • Financial Math - MA2007

Which of the following refers to the cost associated with determining the condition of the property when buying a home?

Answer
A
appraisal
B
discount
C
inspection
D
origination

Explanation

An inspection is an assessment of a home's physical condition, such as its roof, plumbing, and electrical systems. The cost of determining the property's condition is therefore an inspection fee. An appraisal estimates the home's market value, rather than checking its condition.

AI-written and checked against the verified answer.

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