Quiz Ch. 18-23

Question 1

The federal lead-based paint (LBP) disclosure is required on all ________ residential construction.

Answer 1

pre-1978

Question 2

A ______ is any condition that causes exposure to lead from lead-contaminated dust, soil or paint which has deteriorated to the point of causing adverse human health effects.

Answer 2

lead-based paint hazard

Question 3

_________ are exempt from federal lead-based paint (LBP) disclosure requirements.

Answer 3

Foreclosure sales of residential property

Question 4

A real estate agent has no affirmative duty to voluntarily disclode information to a potential buyer regarding a prior occupant whose death occured on the real estate more than _____ years prior to the purchase offer.

Answer 4

three

Question 5

Ownership of a unit in a condominuim project includes compulsory membership in:

Answer 5

the homeowners’ assosiation (HOA)

Question 6

_______ levied by a homeowners’ assosiation (HOA) fund the operating budget to pay for the cost of maintaining the common areas.

Answer 6

Regular assessments

Question 7

Any individual who holds themselves out as being in the business of preparing a home inspection report on a one-to-four unit residential property is referred to as a

Answer 7

home inspector.

Question 8

A statement by a structural pest control (SPC) company indicating the property is free of infestation in the visible and accessible areas is referred to as a:

Answer 8

Pest Control Certification

Question 9

Brokers owe a fiduciary duty to the client to use _____ in a continuous effort to meet the objective of the employment.

Answer 9

due diligence

Question 10

All records of an egent’s acivities on behalf of a buyer or seller during the listing period are to be retained by the agent’s broker for:

Answer 10

three years.