Real Estate Chapter 7 - 9
How long is the warranty for workmanship listed under Business Law 36-B....?
1 year
This is a Supreme Court case which concluded that 'separate is equal'___
1896 Plessy Vs Ferguson Seperate is eual
This Supreme Court case which concluded that 'separate is NOT equal'___
1954 Brown vs. Board of Education
The Department of Housing and Urban Development (HUD), was established in this year...?
1965
Fuse
A device used in electrical systems to protect against excessive current is known as what...?
Beam
A horizontal structural member that supports a floor is known as a___
Girder
A primary horizontal structural element, which is typically a deep beam in which smaller joists or beams frame into is known as___
Slab on Grade Construction
A structure which does not include a basement is typically built with what type of construction...?
Post and Beam construction
A type of construction in which the beams and joists are larger, allowing the floor to span longer than the typical 16" or 24" found in residential construction is known as what...?
In 1992, this Act was passed into federal law which protected handicapped persons...?
Americans with Disabilitys Act
appreciating market...?
BOffering prices increase CTime on market decreases DProperties move faster
The amount of heat energy needed to raise the temperature of one pound of water by one degree Fahrenheit is know as what...?
BTU
This refers to the massing or bulk of a building...?
Building Envelope
The 'safety valves' in an electrical system are known as what...?
Circuit Breaker
Which of the following Acts served as the beginning of the civil rights and fair housing laws...?
Civil Rights At of 1866
According to this federal law, all citizens were given the right to buy or lease real property...?
Civil Rights act of 1866
This is a federal law that prohibits all discrimination on the basis of race only___
Civil Rights act of 1866
This is a federal law that outlawed discrimination based on race, color, religion, sex, or national origin___
Civil Rights act of 1964
Footing
Concrete set in the soil (foundation bed) that supports the foundation of a house is known as a___
Footing Bed
Concrete set in the soil (foundation bed) that supports the foundation of a house is known as what...?
Indirect Cost
Costs that support a construction project, such as legal or architectural fees is known as___
Which of the following is NOT used in conducting a residential market analysis...?
Desired return on capital for investors
Joists
Horizontal timbers, beams or bars supporting a floor are known as___
Who is responsible for paying for the accommodations of handicapped persons in common areas of a building...?
Housing provider
A handicapped tenant living in a rental building needs grab bars to be installed in his bathroom in order to make the unit handicap accessible. Who should pay for the installation of the grab bars...?
Landlord
A property sold as part of a bankruptcy proceeding is most likely equal to what value...?
Liquidation Value
Header
Local horizontal structural elements used in wood framing to span doors and windows are known as___
This rule was adopted by the Secretary of State which prohibits any or all types of solicitation directed towards homeowners within a defined geographic area...?
NonSolicitation Order
Blueprint
Plan, section, and elevation drawings are included in which of the following...?
What is the formula used to determine value using the cost approach...?
Replacement Cost - Depreciation
Lally column
Rounded columns that serve as a structural post, which are typically found in basements and are made of steel or iron, are known as___
In this year, the Fair Housing Act was signed into law...
Signed into law in 1968. Was signed into federal law in 1988.
Bearing Walls
Structural walls that transfer building loads down to the foundation are known as___
Cease and desist lists or orders of non-solicitation lists can be found where...?
The NY dept of state finance
Market Price
The actual selling price of a property is referred to as what...?
Sill Plates
The bottom member of wood frame stud walls are known as what...?
Direct Cost
The cost of labor and materials is known as___
obsolescence
The loss of desirability and usefulness caused by new inventions, changes in design, and improved processes for production, or from the influence of external factors, is known as what...?
Market Value
The most probable price that a property should bring if exposed for sale in the open market for a reasonable period of time, with both the buyer and seller aware of current market conditions, neither being under duress is known as___
Foundation Walls
The part of the building structure, typically below grade, upon which all other construction is built is known as__
Blockbusting
The practice of inducing homeowners in a particular neighborhood to sell their homes quickly, often at below market prices, by creating the fear that the entry of a minority group or groups into the neighborhood will cause a precipitous decline in property values is known as___
Redlining
The refusal to lend money within a specific area is known as___
Investment Value
The specific value of an investment to a particular investor or class of investors based on individual investment requirements is known as what...?
Rafter
The structural member or beam that supports the roof, which spans from the exterior wall to the ridge board of the peak of the roof, is known as___
Cost
The total dollar expenditure for labor, materials, legal services, architectural design, financing, taxes during construction, interest, contractor's overhead and profit, and entrepreneurial overhead and profit is known as___
Insured Value
The value of an asset or asset group that is covered by an insurance policy is referred to as what...?
Studs
These members are used in interior wall construction to not only support the wall itself but to also provide a nailing surface for gypsum board...?
Jones Vs Mayor
This Supreme Court decision held that Congress could regulate the sale of private property in order to prevent racial discrimination...?
Fair Housing Act of 1968
This is a federal prohibition that protects a buyer/renter of a dwelling from seller/landlord discrimination with regards to race, color, religion, gender, national origin, familial status, or disability___
Market Value
This refers to the most probable price that a property should bring if exposed for sale in the open market for a reasonable period of time, with both the buyer and seller aware of current market conditions, neither being under duress...?
studs
Vertical framing members found in wall construction, which are typically placed 12", 16" or 24" on center, are known as___
Sheathing
What building element prevents rain from getting into the building...?
Buildling Permits
Which of the following are issued to attest that construction work will be built in accordance with the necessary building codes and regulations...?
Footing
Which of the following elements is found at the base of the foundation wall, below the frost line...?
Blockbusting
Which of the following illegal acts may lead to the decline in property values due to the creation of fear or panic of a minority group moving into a particular neighborhood...?
Liquidation value
Which of the following will most likely yield the lowest price for a property...?
Platform Construction
Wood frame construction commonly found in residential construction in which floors are supported by joists, beams, and bearing walls is known as what..
Why is a comparative market analysis (CMA) NOT considered an appraisal...?
a CMA doesn't estimate an evaluation.
Cease and desist lists and orders of non-solicitation help stop and/or prevent this illegal act...?
blockbusting
value in use
church / warehouse / school
Hard costs (labor and materials)
direct costs
An appraisal is used to determine the value in what
ll of the above BInvestment Value CLiquidation Value DInsurable Value
What is required in order to determine the market value of a property...?
reasonable exposure and marketing time
method for determining value
sale comparison approach, cost approach and income approach
Due to the fact that real estate operates in an inefficient market, price does NOT equal what...
value
When may the cost of construction exceed the price of a property...?
when the demand is low