Environmental Issues Affecting Real Estate Transactions

Question 1

What must be done by a broker regarding radon?

Answer 1

The broker must provide the seller with a radon disclosure on at least one document prior to closing.

Question 2

In general, a home is more likely to contain lead-based paint if:

Answer 2

It is an older home.

Question 3

How can asbestos be identified?

Answer 3

By using a special type of microscope.

Question 4

PRP conduct about what percent of all Superfund cleanups?

Answer 4

70%

Question 5

What was the time frame during which houses were built with asbestos?

Answer 5

1930-1950

Question 6

What type of housing is covered under the Lead-Based Paint Disclosure Rule?

Answer 6

Most types of private housing, including federally owned housing.

Question 7

All of the following are true statements about the EPA determination about a PRP EXCEPT:
• EPA tries to determine the nature of the party’s involvement.
• EPA tries to discover a party’s potential defenses.
• EPA tries to determine the amount of waste a party contributed.
• EPA tries to find only those who can pay for the cleanup.

Answer 7

EPA tries to find only those who can pay for the cleanup.

Question 8

All of the following are examples of where asbestos can be found EXCEPT:
• Latex paints and brass doorknobs.
• Cement sheet, millboard and paper used as insulation.
• Artificial ashes and embers used for gas-fired fireplaces.
• Steam pipes, boilers and furnace ducts.

Answer 8

Latex paints and brass doorknobs.

Question 9

The Superfund Amendments and Reauthorization Act (SARA) amended the Comprehensive Environmental Response, Compensation, and Liability Act. Only one of the following statements is a correct SARA amendment:
• Decreased the size of the trust fund to 8.5 billion.
• Decreased the focus on human health problems posed by hazardous waste sites.
• Did not provide new enforcement authorities and settlement tools.
• Stressed the importance of permanent remedies and innovative treatment technologies in cleaning up hazardous waste sites.

Answer 9

Stressed the importance of permanent remedies and innovative treatment technologies in cleaning up hazardous waste sites.

Question 10

Which is not a safe step to protect a family from lead hazards?
• Regularly clean floors, windowsills and other surfaces.
• Remove lead-based paint with a belt sander.
• Wipe soil off shoes before entering home.
• Have young children tested for lead levels.

Answer 10

Remove lead-based paint with a belt sander.