Topic Test

Question 23 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

What is “house flipping?”

Answer

The process of transferring ownership of a house from one person to another.

The process of buying a house with the intention of selling it for a profit after only a short time.

The process of two people exchanging the titles to their properties.

The process of a house’s market price rapidly fluctuating.

Explanation

House flipping means buying a property and then reselling it after a relatively short time, usually aiming to make a profit. Choice B describes this process. Simply transferring ownership, swapping property titles, or experiencing price fluctuations does not by itself count as house flipping.

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