Real Estate Practice: Q 6/Chp 28-31

Question 1

1) A Natural Hazard Disclosure (NHD) needs to disclose whether the listed property is located within _________ of a proposed airport when the NHD is prepared by an NHD expert.
a. one mile
b. two miles
c. three miles
d. None of the above.

Answer 1

b. two miles (pg 262)

Question 2

2) A flood zone designated with the letter(s) ___ is subject to mandatory flood insurance requirements.
a. A
b. V
c. Both a and b.
d. Neither a nor b.

Answer 2

c. Both a and b (pg 268)

Question 3

3) An NHD requires a seller and the seller’s agent to disclose to a buyer whether they have any knowledge that the property is in an earthquake fault zone.
True
False

Answer 3

True (pg 270)

Question 4

4) Section I items on a Structural Pest Control report (SPC) are conditions which will likely lead to infestation.
True
False

Answer 4

False (pg 277)

Question 5

5) Areas that do not need to be inspected during an SPC inspection include:
a. attics with inadequate crawl space.
b. floors covered by carpet.
c. Both a and b.
d. Neither a nor b.

Answer 5

c. Both a and b (pg 280)

Question 6

6) A federally mandated Environmental Hazards Disclosure form is used to give a buyer notice of environmental hazards on or near the listed property.
True
False

Answer 6

False (pg 289)

Question 7

7) A seller is required to investigate or have a survey conducted to determine the existence of asbestos on the property.
True
False

Answer 7

False (pg 292)

Question 8

8) A seller has a duty to investigate whether their property contains toxic mold.
True
False

Answer 8

False (pg 294)

Question 9

9) Unless a seller agrees to eliminate any lead-based paint (LBP) hazards, the seller does not have a duty to clean up a hazard.
True
False

Answer 9

True (pg 298)

Question 10

10) Lead-based paint was banned by the Federal Consumer Product Safety Commission in:
a. 1940.
b. 1973.
c. 1978.
d. 1996.

Answer 10

c. 1978 (pg 299)