Chp 3 RE Disclosures Flashcards
1
Q
That duty owed by an agent to act in the highest good faith toward the principal and not to obtain any advantage over the latter by the slightest misrepresentation, concealment, duress or pressure is known as a…? Disclosed duty Legal duty Fiduciary duty Express duty
A
Fiduciary duty
2
Q
An agency relationship in which the agent acts concurrently for both of the principals in a transaction is known as…? Single agency Dual agency Implied agency Partial agency
A
Dual agency
3
Q
This court case determined that a seller's agent only has a duty to visually and diligently inspect a property...? Roe vs. Wade Plessy vs. Ferguson Easton vs. Strassburger Marshal vs. Brown
A
Easton vs. Strassburger
4
Q
Properties built prior to ……….. require a lead based paint disclosure? 1964 1968 1976 1978
A
1978
5
Q
A ……….. property is a property that may be perceived to be undesirable for other than physical or environmental reasons? Stigmatized Disclosed Hazard Sub-divided
A
Stigmatized
6
Q
What is the final step in disclosing an agency relationship…? ADisclose BRecord CConfirm DElect
A
Confirm
7
Q
The real estate broker is responsible for completing the AVID form…?
AT (True)
BF (False)
A
(True)
8
Q
Purchasers of residential real estate are entitled to a Real Estate Transfer Disclosure Statement…?
AT (True)
BF (False)
A
true
9
Q
Which of the following must be double braced in California…? APlumbing fixtures BCeiling tiles CLarge windows DWater heaters
A
Water heaters
10
Q
Which of the following is an indication of a water problem in a house…? ASloped floors BMold CCracks in the foundation DAll of the above
A
Mold
11
Q
TILA was enacted in…? A1964 B1968 C1974 D1988
A
1968 truth in lending act
12
Q
The seller’s broker is responsible for completing the Transfer Disclosure Statement…?
AT (True)
BF (False)
A
(False)
13
Q
This court case determined that a seller's agent only has a duty to visually and diligently inspect a property...? ARoe vs. Wade BPlessy vs. Ferguson CEaston vs. Strassburger DMarshal vs. Brown
A
Easton vs. Strassburger
14
Q
What does the AVID form stand for?
A
Agent visual inspection disclosure
15
Q
What does TILA stand for?
A
Truth in lending act
