Unit II: Module A- Agency and
What is the approximate average annual flood premium fee paid in South Carolina?
$600
Federal lead-based paint disclosure laws apply to what type of residential housing?
1978
The gain or loss of property through forces of nature, labor, or the addition of new materials is ____________.
Accession
A type of involuntary transfer of property to the government is _______________. Dedication by deed Statutory dedication Common-law dedication All of the above
All of the above.
A person or business that purchases a commodity or service is a(n):
Customer
Which answer below prevents a person from claiming a right or interest that is inconsistent with the person's previous statements or acts?
Estoppel
What is the most common natural disaster in the U.S.?
Flooding
Failure to provide proper disclosure, even when done unintentionally, could be considered:
Fraud
What type of agency relationship may be created unknowingly or unwittingly?
Implied agency
The most obvious repercussion for being careless in the real estate industry is the risk of being liable for:
Negligence
What is the most common type of voluntary transfer?
Sale
The critical difference in tort liability between the average person and skilled professionals is known as:
Standard of care
According to the United States Geological Service (USGS), sinkholes consist of an area formed underground where what happens?
Water drains and collects
To claim legal title by an adverse possessor, what is not required?
A willing transferor
Which party below is the most likely to be the instigator in a property associated with debt stigma?
Debt Collectors
Traditionally, the seller's agent listed the property and entered it into the multiple listing service. Any agent who showed the listed property worked as a subagent of the:
Seller's agent
Which decade was the start of severe restrictions or outright bans of asbestos in the use of the construction of properties?
1980s
How many Americans live within 100 miles of an ocean?
200 Million
What percentage of earthquakes in South Carolina typically happen in the Coastal Plain region each year?
70%
Facts that an agent knows because they are known by their principal or a subordinate agent would be considered:
Imputed knowledge
A licensee who assists one or more parties through a transaction without being an agent for any party to the transaction is a(n):
Intermediary