Property disclosures #8

Question 1

what indicates that property was used for waste disposal?

Answer 1

Soft sport and mounds

Question 2

Encroachment

Answer 2

is when someone, illegally places an object or structure on another person’s property

Question 3

Random

Answer 3

Occurs naturally in the environment and can be found on soil and water

Question 4

Asbestos

Answer 4

a material that is dangerous and when it deteriorates becomes friable. was used in many materials before 1970s. Inhaled materials can damage the lungs over time

Question 5

Mold

Answer 5

growth by excessive moisture and lack of air circulation

Question 6

Lead

Answer 6

is in paintings, plumbing, dust, soil, and drinking water. kids can dye easily if are near this substance. it causes many health issues, behavior problems and even death

Question 7

Avent pipe popping out of the ground may be a sign of?

Answer 7

and underground storage tank

Question 8

a sinkhole or settling may be a sign of?

Answer 8

mine subsidence

Question 9

buyers have how many days to text the painting in a house to see if there is lead in the painting water etc.

Answer 9

10 days

Question 10

Adverse material fact

Answer 10

negative property information that could reduce its value

Question 11

Latent effect

Answer 11

Is a hidden property that is not likely to be discovered thought a normal inspection

Question 12

actual knowledge

Answer 12

information that it is known about a house

Question 13

Home inspection contingency

Answer 13

gives the buyer the right to have the home insepected within a specified period of time

Question 14

test kits are available for purchase for what type of hazard

Answer 14

random

Question 15

If full disclosure states, the …. is responsible for completing a disclosure form

Answer 15

seller

Question 16

which of the following is a common chimney or fireplace problem?

Answer 16

crosote

Question 17

The property management agreement is between the_____

Answer 17

The property manager and the owner. It outlines the duties and responsibilities of both

Question 18

A lease is a ____?

Answer 18

Binding contract that allows the tenant to occupy (not own) a property

Question 19

Security deposit are used to ____?

Answer 19

Maker repairs if the tenant moves out and leves the unit in poor condition

Question 20

Ministerial act

Answer 20

This means the licensee May assist a customer in completing or fulfilling a contract and must treat the customer would honesty and fairness

Question 21

What is the disclosure / disclaimer statement?

Answer 21

Is when the seller is selling the home (as is) and provides no warranties that the home is in good conditions

Question 22

Brokers must complete about ____ hour licensing course requirement and pass the borders exam

Answer 22

135 hours

Question 23

You can reinstate you license after it expired withing ____ after it expires

Answer 23

3 years

Question 24

Salesperson are required to complete ____ hours of continuing education (CE) every 2 years

Answer 24

15 hours

3 hours of agency, and ethics, legislative updates

1.5 hours of fair housing

4 5 hours of electives

Question 25

Brokers must complete 15 hours of CE, including 3 hours of broker supervision but only ____ hours of electives

Answer 25

1.5 hours

Question 26

Purchase money mortgage

Answer 26

Allows the buyer to retain title of the property, but the seller has security interest in the property

Question 27

What is done to a landfill that is put out of commission?

Answer 27

It is capped

Question 28

Licenses show encourage all buyers to obtain_____ an additional test as necessary, even on _____ construction

Answer 28

Home inspections ,New

Question 29

_____ can help determine the trey condition of a property

Answer 29

Home inspections

Question 30

Is one of the best ways to protect the buyers earnest money

Answer 30

A home inspections contingency

Question 31

Standing water percent more than 24 hours after heavy rain or ground slopping towards the house may indicate ______

Answer 31

Drainage problems

Question 32

Mulch mounted against a house or other structure with wood frame siding can hold moisture against the siding, leading to _____

Answer 32

Wood rot

Question 33

____ Leave behind a sawdust like material called frass when they burrow through wood

Answer 33

Carpenter ants

Question 34

Many small holes through wooden beams could indicate the princess off _____

Answer 34

Wood boring beetles

Question 35

The presence of _____ in walls may indicate termite infestation

Answer 35

Mud tunnels

Question 36

Lead is most often found in _____ and ____

Answer 36

Water and paint

Question 37

Caveat emptor

Answer 37

Seller makes no representations as to the property condition that let the buyer be aware

Question 38

Information that must be disclosed by the licensee is anything that meets the maap standard

Answer 38

Material, adverse, action knowledge, of the physical condition of a property Tells the lens and see what to disclose

Question 39

Gifts about your the right to have the home inspector in a specific time. About 10 days

Answer 39

Home inspection contingency

Question 40

Which statement about random it's true?

Answer 40

Test kits are available for purchase

Question 41

What is a common chimney or fireplace problem

Answer 41

Crosot

Question 42

FIRPTA

Answer 42

Notice to seller who are 4-in persons or non-residents about IRS income tax requirements

Question 43

Exclusive right to represent

Answer 43

Offers the highest level of representation

Question 44

Property disclosure statement

Answer 44

Identifies any defects for information about the condition of the property known by the seller

Question 45

Exclusive agency agreement

Answer 45

No commission is owed the agent if the seller finds the buyer

Question 46

A listing agreement

Answer 46

Is a binding contract that you and your seller of a property enter into when the seller agreed to have you represent them as their listing agent that is binding and must be in Britain and signed by all parties

Question 47

One general rule of the federal do-not-call regulations is that:

Answer 47

it is illegal to make an unsolicited phone call to a number listed on the national registry.

Question 48

Desk cost

Answer 48

is the total operating expenses of a brokerage or branch office divided by the total number of licensees in that same office.

Question 49

In most states, by paying the debt after a foreclosure sale, the mortgagor has the right to regain the property. What is this right called?

Answer 49

Statuary right of redemption

Question 50

In most states, by paying the debt beforeequi a foreclosure sale, the mortgagor has the right to regain the property. What is this right called?

Answer 50

Equitable right of redemption

Question 51

During a site evaluation to determine property value, all of the following factors are important to consider, topography, acceso to utility and the property size and shape EXCEPT ______.

Answer 51

Neighborhood demographic

Question 52

Which of the following could indicate a problem with the chimney flue or ventilation?

Answer 52

Drafts near the fireplace can indicate a problem with the flue or ventilation. Buyers will need to know the condition of the fireplace and chimney, since they may face issues after they buy the home.

Question 53

What's the purpose of a firewall?

Answer 53

  It prevents hackers from infecting your system with viruses, worms, and malware.