Quiz Ch. 13-17

Question 1

A property defect which would likely affect the price a buyer would be willing to pay is referred to as:

Answer 1

a material fact.

Question 2

The broker analyzes the suitability of an income property which is for sale by preparing a(n) _______ and reviewing it with the buyer.

Answer 2

Annual Property Operating Data Sheet (APOD)

Question 3

A seller’s broker and their agents have a ______, owed solely to the seller who has employed the broker, to diligently market the listed propery for sale.

Answer 3

fiduciary agency duty

Question 4

A seller of a one-to-four residential property needs to complete and deliver to a prospectivebuyer a statuory form called a(n)

Answer 4

Transfer Disclosure Statement (TDS)

Question 5

Radon gas concentrations in enclosed, unventilated spases located within a building where the underlying rock contains uranium is an example of an

Answer 5

environmental hazard located on a property.

Question 6

Environmental hazards not itemized in the Transfer Disclosure Statement (TDS) include:

Answer 6

whether the property is located in a special flood hazard area.

Question 7

Natural hazards such as _____ come with the location of a parcel of real estate, not with the man-made aspects of the property.

Answer 7

very high fire hazard severity zones

Question 8

To unify and streamline the disclosure made by a seller and their agent about natural hazards affecting a property, the California legislature created a statutory form called the:

Answer 8

Natural Hazard Disclosure Statement (NHD)

Question 9

The Natural Hazard Disclosure Statement (NHD) handed to a prospective buyer does not disclose:

Answer 9

environmental hazards and physical deficiencies in the soil or property improvements.

Question 10

The Natural Hazard Disclosure Statement (NHD) requires the seller’s agent to disclose to a prospective buyer whether they have knowledge of the property:

Answer 10

is located in a fault zone.