Real Estate Practice CH 3

The earthquake safety disclosure statement A. is voluntary. B. applies to 1 to 4 residential units. C. must be signed by buyer and seller. D. both B and C.

both B and C

The proper order of the steps taken in agency disclosure is A. disclose, elect, confirm. B. confirm, elect, disclose. C. elect, disclose, confirm. D. elect, confirm, disclose.

disclose, elect, confirm.

An agent's inspection under Easton v. Strassburger (as codified by state statutes) applies to A. visual inspections. B. accessible areas only. C. 1 to 4 residential units. D. all of these.

all of these.

A selling agent must comply with agency disclosures to the buyer A. prior to showing property. B. prior to qualifying the buyer. C. upon delivery of the seller's acceptance. D. before the buyer executes an offer.

before the buyer executes an offer.

The seller financing disclosure statement provided to both buyer and seller provides A. credit terms. B. A warning as to balloon payments. C. Disclosure of deferred interest. D. All of the above

D. All of the above

A Transfer Disclosure Statement must be provided to the buyer when the sale involves A. a vacant lot. B. all of these. C. a 3-unit residential building. D. a commercial building.

a 3-unit residential building.

An agent need not disclose to a buyer: A. that a former owner had AIDS. B. that there was a death by murder or suicide on the property more than 3 years ago. C. that there was a death on the property within the last 3 years. D. both that a former owner had AIDS and that there was a death by murder or suicide on the property more than 3 years ago

both that a former owner had AIDS and that there was a death by murder or suicide on the property more than 3 years ago

A fiduciary relationship applies to a real estate licensee and to A. all parties the agent has dealings with. B. his or her principal. C. the Department of Real Estate. D. buyers only.

his or her principal.

Real estate disclosure laws apply A. to buyer disclosure only. B. to disclosures to principals only. C. uniformly to all real estate transactions. D. primarily for 1 to 4 residential units.

primarily for 1 to 4 residential units.

Compliance with environmental hazards disclosure requires that the Alquist-Priolo Act be complied with. A. the buyer sign that they have received a booklet titled B. Environmental Hazards: A Guide for Homeowners, Buyers, Landlords, and Tenants. C. that the seller post a bond to cover damages by hazards discovered at a later date. D. chemical tests of the soil for all dangerous contaminants.

the buyer sign that they have received a booklet titled Environmental Hazards: A Guide for Homeowners, Buyers, Landlords, and Tenants.