Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
1. A property defect which would likely affect the price a buyer would be willing to pay is referred to as: pg 86 a. a material fact. b. a matter of opinion. c. circumstantial evidence. d. an “as is” condition. |
a. a material fact. |
|
|
2. The broker analyzes the suitability of an income property which is for sale by preparing a(n) ____________ and reviewing it with the buyer. pg 89 a. Profit and Loss Statement b. Balance Sheet c. Annual Property Operating Data Sheet (APOD) d. Investment Circular |
c. Annual Property Operating Data Sheet (APOD) |
|
|
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 property for sale. pg 93 a. non-fiduciary general duty b. fiduciary agency duty c. implied agency duty d. limited general duty |
b. fiduciary agency duty |
|
|
4. A seller of a one-to-four unit residential property needs to complete and deliver to a prospective buyer a statutory form called a(n): pg 99 a. Transfer Disclosure Statement (TDS). b. Condition of Neighborhood Addendum. c. Agency Law Disclosure. d. Oil-Based Paint Disclosure (OBP). |
a. Transfer Disclosure Statement (TDS). |
|
|
5. Radon gas concentrations in enclosed, unventilated spaces located within a building where the underlying rock contains uranium is an example of a(n): pg 106 a. environmental hazard located off a property. b. environmental hazard located on a property. c. natural hazard located off a property. d. seismic hazard located on a property. |
b. environmental hazard located on a property. |
|
|
6. Environmental hazards not itemized in the Transfer Disclosure Statement (TDS) include: pg 107 a. hazardous construction materials and waste. b. window security bars and inoperable release mechanisms. c. environmental noise. d. whether the property is located in a special flood hazard area. |
d. whether the property is located in a special flood hazard area. |
|
|
7. Natural hazards such as __________ come with the location of a parcel of real estate, not with the man-made aspects of the property. pg 113 a. very high fire hazard severity zones b. high local crime rates c. security bars which interfere with an occupant’s ability to exit a room d. asbestos-containing building materials |
a. very high fire hazard severity zones |
|
|
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: pg 114 a. Transfer Disclosure Statement (TDS). b. Natural Hazard Disclosure Statement (NHD). c. Conflict of Interest Disclosure. d. Mortgage Settlement Statement. |
b. Natural Hazard Disclosure Statement (NHD). |
|
|
9. The Natural Hazard Disclosure Statement (NHD) handed to a prospective buyer does not disclose: pg 120 a. whether the property is located in an area of potential flooding. b. whether the property is situated in a very high fire hazard severity zone. c. environmental hazards and physical deficiencies in the soil or property improvements. d. the fact the property was built in a seismic hazard zone. |
c. environmental hazards and physical deficiencies in the soil or property improvements. |
|
|
10. The Natural Hazard Disclosure Statement (NHD) requires the seller’s agent to disclose to a prospective buyer whether they have knowledge the property: pg 122 a. has a roof greater than three years old. b. is located in a fault zone. c. is located in an area with a high crime rate. d. has an outdoor pool. |
b. is located in a fault zone. |
