Chapter 13 Flashcards
Tax
Enforced charge extracted of persons, corporations and organizations by the government to be used to support government services and programs.
Gift Tax
A tax on the transfer of property by one individual to another while receiving nothing or less than full value in return.
Business Opportunities
The purchase or sale of a business.
Bill of Sale
A written instrument given to pass title of personal property from vendor to the vendee.
Building Code
A systematic regulation of construction of building within a municipality established by ordinance or law.
Specialty Contractor
A contractor whose operations involve the performance of construction work requiring special skill and whose principal contracting business involves the use of specialized building trades or crafts.
General Contractor
A contractor whose principal business is in connection with any structure being built (or to be built), requiring in its construction the use of at least two unrelated building trades or crafts.
Gambrel Roof
A roof with two sides, each of which has a shallower slope above a steeper one.
Gable Roof
A roof sloping downward in two parts at an angle from a central ridge, so as to leave a gable at each end.
Mansard Roof
A roof that has four sloping sides, each of which become steeper halfway down.
Hip Roof
A roof with the ends inclined, as well as the sides.
Flat Roof
A roof which is almost level.
Floor Plan
A drawing to scale, showing a view from above, of the relationships between rooms, spaces and other physical features at one level of a structure.
Foundation Plan
A floor plan drawing to scale showing the location and size of the foundation walls of a building.
Plot Plan
A scaled plan diagram showing the buildings, utility runs, and equipment layout, the position of roads, and other constructions of an existing or proposed project site.
Crawl Space
An area of limited height under a floor or roof, giving access to wiring and plumbing.
Radon
A colorless, odorless, radioactive gas present in the soil that enters a home through small spaces and openings.
This is an enforced charge extracted of persons, corporations and organizations by the government to be used to support government services and programs….?
Tax
A tax on the transfer of property by one individual to another while receiving nothing or less than full value in return is known as a…?
Gift Tax
Who are exempt from the real estate licensing education requirements in California…?
Anyone licensed to practice law in California
For new licensees, continuing education is required how many years after getting their license…?
4 years
All new licensees are required to take which of the following continuing education courses…?
Ethics, Fair Housing, Consumer Protection
Real estate brokers must maintain records of all transactions for how many years from the date of the closing…?
3
Which of the following enables a person who has been defrauded or had trust funds converted by a real estate licensee in a transaction requiring a license, to recover at least some of his/her actual loss when the licensee’s assets are insufficient…?
The California Real Estate Recovery Fund
