CHAPTER SIX QUIZ Flashcards
………… refers to incredulous claims made by sellers or sellers agents to attract potential buyers.
Puffing
The Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), or Superfund, was a federal program established in 1980 to…?
Clean up locations where pollutants were, or could be, hazardous.
Mindy’s buyer has found a great piece of property that she’s interested in, but it’s located on a brownfield site. The buyer wants to know what Mindy thinks about purchasing it. Mindy tells him…?
It could be a great investment, because all around the county brownfield sites have been cleaned up successfully, and there are often favorable financial incentives for developing such sites.
What are telltale signs a drain field may be failing?
Green spongy grass and a strong odor.
How far away from a home’s septic tank must a well be in Tennessee?
50 feet
What do state regulations require property owners do with an abandoned well?
Backfill it.
State law requires that the seller disclose the presence of…?
Asbestos
Fraud may be active or…?
Passive
Major sources of lead contamination come from…?
Mining and manufacturing, and recycling of old materials can contribute to lead levels.
Discovering the presence of lead is…?
Difficult, because contamination cannot be tasted, smelled, or seen
The demographic most threatened by lead poisoning is…?
Children, between one and five years of age.
Chronic toxicity from lead is a result of…?
Continued exposure to even small quantities.
The use of lead-based paint in residential construction was prohibited after what year?
1978
Since lead can be present in drinking water, the best way to find out is…?
The only way to determine if there is lead in drinking water is to have it tested.
Mary is the agent on a home that was built before 1978. It’s likely there is lead present in the house somewhere. The sellers have no knowledge of any lead, and they are very healthy. Should Mary suggest the buyers get the home tested?
Yes, because pre-1978 homes are known to have lead, and it’s a good way to protect all parties.
The sellers of a home that was found to have lead present are willing to do the remediation work themselves. They would do it for nothing. Is this a good idea…?
No, because contractors working on lead repairs and remediation should be done by EPA- or state-approved Lead-Safe Certified renovation firms.
When a real estate agent is representing a seller, the disclosure process requires…?
The seller and the agent must comply with the Real Estate Notification and Disclosure Rule.
Asbestos can cause health problems, such as …?
Lung problems
If asbestos is found in a home or building, what action should be taken …?
A professional should be called in to take care of it
When asbestos has entered the body, it …?
Cannot be removed and might affect other organs
The seller of a house you have listed tells you the roof was replaced four years prior to the sale. You have the seller provide this information in writing. This best practice helps you avoid…?
Misrepresentation
Radon is undesirable because…?
Based on human and animal studies, radon has been determined to be harmful to people and animals.
When the potential for danger to people and animals is measured, radon is considered…?
To be a class-one carcinogen, a definite cancer-causing substance.
…………. is making a statement that is not intentionally wrong, but is not correct because the agent or broker fails to confirm the accuracy prior to making the false statement.
Negligent misrepresentation