TEST FEB 21

metes an bounds

A metes and bounds legal description starts from a point of beginning, then traces the outline of the property's boundary lines until there is closure in the legal description. Natural monuments and artificial monuments can both be used as metes and bounds. For example, rivers, roads, trees, etc.

Demographics impact the housing market. Which of the following is a true statement?

An increase in the number of retirees in a given population would negatively impact the demand for large, single-family homes.

Jerome is developing an ad for three properties he has listed in an upscale community. He wants to keep it short and simple. Which of these would NOT trigger full disclosure under TILA?

Get a low 4.925% APR

Which of these is NOT an example of price fixing?

Jake's firm agrees to charge all clients a listing commission of between 2% and 2.5%.

Joan and Martha are entering into an 18-month lease with landlord Roger. Which of these statements is true?

Leases for periods of more than one year must be in writing.

Which of these circumstances does NOT require agent disclosure?

Marty is representing Dwayne in both the sale of his current home and the purchase of his new home.

Sunshine Surveyors, Inc. created a lot and block survey for a new residential development, Happy Acres. The first thing the surveyor did when he surveyed the new neighborhood was to reference what type of description?

Metes and bounds description

Which of these is an example of bulk zoning?

Misty Falls restricts building any structure within 15 feet of a roadway.

Victor's family has always owned this particular lake house. When he was little, he remembers the "beach" being no more than four feet wide before the waterline. Now Victor brings his own children to the lake house, but the beach is almost seven feet wide. What natural process could explain the beach being bigger?

Reliction

Which act encompasses a series of laws intended to lay out the standardized responsibilities and rights of both tenants and landlords but isn't mandatory?

The Uniform Residential Landlord Tenant Act

When a government entity exercises its powers to create zoning ordinances, what must be followed?

The area's comprehensive plan

Aidan accepted a contract for the sale of his home. The home inspection report reveals that certain aspects of the house don't meet the current building code. What's the most likely result?

The house is probably not required to meet the current code.

Which of these guarantees is offered by a general warranty deed but not a special warranty deed?

The seller will defend against all claims against the property's title.

Assuming that dual agency is legal where these scenarios occur and that the licensees' brokerages permit it, which of these situations demonstrates illegal dual agency?

Tom is holding an open house for his client. Ruby, a buyer, says she wants to make an offer. She details her situation; Tom waits until she finishes and then suggests that she offer a non-refundable earnest money deposit to strengthen her offer.

A quitclaim deed does which of these?

Transfers without warranty any interest or title the grantor has when conveying it

You represent a seller as a listing agent. Do you owe any duties to buyer agents?

Yes, the duty to cooperate on showings

Lot and block survey

starts with Metes and bounds description