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Free money test · ages 8 and up

Home Buying Quiz for Kids

10 quick questions with instant answers and explanations. No sign-up needed.

Professor Ledger, the Wealthonauts banking and contracts robot

This home buying quiz for kids checks how well you understand the way families buy and own a home. Its ten questions cover down payments, inspections, deeds, title, deeds of trust, monthly payments and equity. A few questions use simple math, and every answer comes with a short explanation.

The quiz is free, and anyone can take it. Ages 8 and up is a starting point, and grown-ups who are new to home buying are welcome too. Score 8 or more and you can answer Mia’s big question! If not, the book Who Owns the House? walks through every step with the Rivera family.

What this test covers

  • The bundle of rights that comes with owning
  • Down payments and home inspections
  • Mortgages, deeds of trust and trustees
  • Title, deeds and notaries
  • What a monthly payment covers
  • Equity and what changes it
  • What to do if payments get hard

How it works: answer all 10 questions, then press “Check my answers.” Get 8 or more right to pass. You’ll see why each answer is right, plus what to read or take next. No sign-up needed, and your answers are not saved.

Take the test

Ages 8 and up — and anyone who wants to learn this.

  1. Question 1 of 10Owning a home is like holding a "bundle of sticks." What does each stick stand for?
  2. Question 2 of 10The Riveras' house costs 250,000 star coins, and they pay 50,000 up front. What percent of the price is their down payment?
  3. Question 3 of 10What does a home inspection mainly check?
  4. Question 4 of 10In a deed of trust, who is the trustee?
  5. Question 5 of 10What is the difference between title and a deed?
  6. Question 6 of 10Why does a notary public watch someone sign a deed?
  7. Question 7 of 10Many lenders collect a little extra each month and keep it in an escrow account. What is that money used for?
  8. Question 8 of 10In the Riveras' pretend loan, how does a 15-year loan compare with a 30-year loan for the same amount and rate?
  9. Question 9 of 10Besides paying down the loan, what else can make a family's equity go up or down?
  10. Question 10 of 10Dad asks, "What if someday we can't make a payment?" What is the best first step?

Want to really understand it?

This test is based on Who Owns the House?, Book 03 of The Wealthonauts Adventures. Ages are a starting point, not a limit: plenty of teens and grown-ups are learning these ideas for the first time. Read the book online, take the matching Wealthonauts course, then come back and test yourself again.

More free tests: see all 12 money tests.