Real estate

Dam failure

Area of potential flooding

Which of the following describes a listing agreement termination by completion/performance?

Dean lists his property on August 1. After just a few showings, he accepts an offer on August 12. The closing takes place on September 22.

In addition to providing a disclosure of any lead-based hazards in a home built before 1978, what must sellers provide to prospective buyers?

EPA lead safety pamphlet

Jenna's closing agent has asked her to get a spot survey of the property she's purchasing. What will this accomplish for Jenna and the closing agent?

It notes the location, size, and shape of any improvements on a property.

Which of the following is NOT one of the five basics tests that courts use to determine whether an item is a fixture or personal property?

Legally permissible use

Where would you likely find blanket insulation?

Rafters

Which legal description method is regulated by the U.S. Department of the Interior's Bureau of Land Management?

Rectangular government survey

What is the California Department of Real Estate responsible for?

Regulating the real estate industry

What are common ownership structures for real estate brokerages?

Sole proprietorships, partnerships, and corporations

FEMA identified

Special flood hazard zone

Stan is a home inspector who's evaluating a home for potential buyers. He pointed out that neither of the two bathrooms had vent fans installed. Why is this a potential problem that will be noted on the inspection report?

The lack of air circulation in a moist room can lead to mold growth.

Which of the following is true about easements appurtenant?

They can be terminated if dominant and servient lands are merged into one parcel

Contribution

Which of these principles of value is related to how a change to a portion of a property impacts the value as a whole?

Bobby is representing his fiancé in a real estate transaction. Does he have any special disclosure requirements?

Yes, because all special relationships must be disclosed

What happens when your client asks you to do something that's against the law?

You must break your duty of obedience.

Which of the following statements is true about the listing presentation?

You should go into the presentation fully prepared with a comparative market analysis, listing agreement, MLS listings of comparable properties, and your plan for marketing the sellers' property.