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IA Real Estate Test Prep > Unit quiz 21 > Flashcards

Unit quiz 21 Flashcards

1
Q

The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) is administered and enforced by the

A

Environmental Protection Agency.

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2
Q

Federally funded projects require an

A

environmental impact statement (EIS).

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3
Q

The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) uses the Superfund to clean up uncontrolled hazardous waste sites and with the exception of the innocent landowner,

A

imposes strict, joint and several, and retroactive liability on potentially responsible parties.

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4
Q

Liability under the Superfund is considered to be

A

strict, joint and several, and retroactive

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5
Q

means that the owner is responsible to the injured party without excuse

A

Strict liability

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6
Q

means that each of the individual owners is personally responsible for the total damages

A

Joint and several liability

If only one of the owners is financially able to handle the total damages, that owner must pay the total and collect the proportionate shares from the other owners whenever possible.

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7
Q

means that the liability is not limited to the current owner but includes people who have owned the site in the past. An exception is made for the innocent landowner who had no actual or constructive knowledge of the damage at the time the property was purchased.

A

Retroactive liability

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8
Q

In regulations regarding lead-based paints, HUD requires that

A

known lead-based paint hazards be disclosed.

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9
Q

HUD issued the (?) which requires disclosure of the presence of any known lead-based paint hazards to potential buyers or renters.

A

Lead-Based Paint Hazard Reduction Act of 1992,

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10
Q

If environmental hazards are discovered and the landowner had no previous knowledge of their existence,

A

the landowner might still be held responsible.

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11
Q

Under the EPA classification, PRPs are

A

potentially responsible parties.

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12
Q

Radon is

A) only found in the eastern United States.

B) not found in older homes.

C) easy to detect because of its odor.

D) a known human carcinogen.

A

D) a known human carcinogen.

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13
Q

The Superfund Amendments and Reauthorization Act (SARA) created

A

an innocent landowner immunity status.

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14
Q

All of the following may contribute to the growth of mold EXCEPT

A) presence of EIFS.
B) roof leaks.
C) low humidity.
D) improperly installed gutters.

A

C) low humidity.

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15
Q

a building material that can trap moisture in a house.

A

EIFS

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16
Q

Radon poses the greatest potential health risk to people when it is

A

trapped and concentrated in inadequately ventilated areas.

17
Q

The MOST common source of harmful lead in older residential properties is

A

alkyd oil-based paint.

18
Q

The federal government estimates that lead is present in about 75 percent of all private housing built before

A

1978.

19
Q

was used as a pigment and drying agent in alkyd oil-based paint that is common on doors, windows, and other woodwork.

A

Lead

20
Q

Contamination of underground water threatens the supply of pure, clean water for private wells and public water systems when the earth’s natural

A

filtering systems are inadequate.

21
Q

A hole lined with clay or a synthetic liner to prevent leakage of waste material into the water supply describes a

A

landfill.

22
Q

All of the following are true about lead-based paint EXCEPT

A) renovation by a contractor of a residence that has lead-based paint requires education and certification.

B) it was commonly used in residences before 1978.

C) it is most dangerous when ingested.

D) all residential buildings must be tested for lead-based paint.

A

D) all residential buildings must be tested for lead-based paint.

23
Q

Groundwater that exists under the earth’s surface forms the water table, which is

A

the natural level at which the ground becomes saturated.

24
Q

Regarding the federal Lead-Based Paint Hazard Reduction Act, which statement is TRUE?

A) All residential housing built before 1978 must be tested for the presence of lead-based paint before being listed for sale or rent.

B) Purchasers of housing built before 1978 must be given five days to test the property for the presence of lead-based paint.

C) A lead-hazard pamphlet must be distributed to all prospective buyers but not to tenants.

D) A disclosure statement must be attached to all sales contracts and leases involving residential properties built before 1978.

A

D) A disclosure statement must be attached to all sales contracts and leases involving residential properties built before 1978.

25
Q

All of the following are true about underground water contamination EXCEPT

A) any contamination of underground water can threaten the supply of pure, clean water from private wells and public water systems.

B) real estate professionals need to be aware of potential contamination sources.

C) protective state and federal laws concerning water supply have been enacted.

D) it is a minor problem in the United States.

A

D) it is a minor problem in the United States.

26
Q

According to the EPA, approximately (?) underground storage tanks that exist in the United States are leaking.

A

40% of the 3 million to 5 million

27
Q

A real estate professional showed a pre-World War I house to a prospective buyer. The buyer has two toddlers and is worried about potential health hazards. Which of the following is TRUE?

A) The real estate professional can offer to personally inspect for lead and remove any lead risks.

B) Because of the age of the house, there is a good likelihood of the presence of lead-based paint.

C) Removal of lead-based paint and asbestos hazards is covered by standard title insurance policies.

D) There is a risk that urea-formaldehyde foam insulation was used in the original construction.

A

B) Because of the age of the house, there is a good likelihood of the presence of lead-based paint.

Pre–World War I means before 1914. Lead-based paint was common in housing interiors until it was outlawed in 1978.

28
Q

MOST seller property disclosures are required for

A) both commercial and residential properties.

B) residential properties and retail centers.

C) only residential properties.

D) residential properties and vacant land.

A

C) only residential properties.

29
Q

Defunct, derelict, or abandoned commercial or industrial sites, many of which are suspected to contain toxic wastes, are called

A

brownfields.

30
Q

Underground storage tanks (USTs) are commonly found on sites where

A

petroleum products are used or where gas stations and auto repair shops are or were located.

IA Real Estate Test Prep (53 decks)

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