Chapter 10
If you call a person that is listed on the National Registry, what is the fine per occurrence? a) $18,000.00 b) $15,000.00 c) $16,000.00 d) $5,000.00
c) $16,000.00
How are lead levels tested in the body? a) A hair sample test b) A urine test c) A blood test d) A wipe of the forearm
c) A blood test
Which of the following statements is FALSE regarding lead-based paint laws? a) The lessor must provide the information and complete the disclosure portions of the lease before accepting the lessee's offer. b) The law does not require a seller to remove lead paint or correct hazards. c) All disclosure documents must be signed by the seller, listing agent and an EPA tester. d) If the buyer makes an offer before the disclosure is provided, the seller is not allowed to accept the offer until the disclosure notice is completed.
c) All disclosure documents must be signed by the seller, listing agent and an EPA tester.
ESIGN stands for a) E-Signatures in General and National Commerce Act. b) Easy Signatures in General and National Commerce Act. c) Electronic Signatures in Global and National Commerce Act. d) Easy Signatures in Global and National Commerce Act.
c) Electronic Signatures in Global and National Commerce Act.
Which of the following is NOT a law that impacts marketing/advertising efforts? a) FACT Act b) Junk Fax Prevention Act c) FASS Act d) Do-Not-Call List
c) FASS Act
All of the members of one board of REALTORS® agree that they will not show the properties of the members of another board of REALTORS®. What is this an example of? a) Price fixing b) Tie-in arrangement c) Group boycott d) Market allocation
c) Group boycott
Under SECTION 26-6-10, which of the following transactions are not allowed to use electronic signatures and notices? a) Real estate listing agreements b) Department of Motor Vehicles notices c) Notices of cancellation or termination of health or life insurance benefits d) Notices relating to bank statements
c) Notices of cancellation or termination of health or life insurance benefits
Which of these is not a violation of antitrust laws? a) Boycott b) Price fixing c) Redlining d) Market allocation
c) Redlining
Individual violators of the Sherman Act can be fined up to a) $350,000 and sentenced to up to 3 years in federal prison for each offense. b) $250,000 and sentenced to up to 2 years in federal prison for each offense. c) $150,000 and sentenced to up to 2 years in federal prison for each offense. d) $100,000 and sentenced to up to 3 years in federal prison for each offense.
a) $350,000 and sentenced to up to 3 years in federal prison for each offense.
What Act prohibits sending unwanted "commercial" e-mail messages to wireless devices without express prior authorization? a) CAN-SPAM Act b) Phone Consumer Protection Act (PCPA) c) No-Call Act of 2003 d) Wireless Act of 2012
a) CAN-SPAM Act
Regarding lead-based paint testing, a) Federal law does not prescribe any specific testing requirements. b) Federal law requires that a fully-trained FHA Lead Tester be used for all test reports. c) South Carolina requires all tests be conducted according to Section 56-A. d) South Carolina requires that a lead-based test be completed prior to occupancy.
a) Federal law does not prescribe any specific testing requirements.
Agent Jim wants to send out an e-mail to all the local real estate agents to inform them about an open house he is holding. What must he do to be in compliance with the CAN-SPAM Act? a) Jim must give the agents a way to opt out of any future e-mail messages. b) He must be sure to include the entire mailing address of the home he is hosting. c) Jim must be sure his name and phone number are prominently displayed in the e-mail. d) He cannot give any indication of the listing price of the home in the e-mail.
a) Jim must give the agents a way to opt out of any future e-mail messages.
Under SECTION 26-6-10, which of the following are not acceptable via an electronic transaction? a) Product recall notices affecting health or safety b) Documents required by law to accompany the transportation of household waste materials c) Documents regarding the purchase of chemicals d) Documents regarding product guarantees
a) Product recall notices affecting health or safety
What type of inspection will tell you what actions to take to address any lead-based paint hazards? a) Risk assessment b) Radon assessment c) Ozone assessment d) Environmental Status Statement
a) Risk assessment
What is the purpose of state and federal Antitrust laws? a) To maintain and preserve business competition b) To reduce business competition c) To increase market shares for new start-up businesses d) To track and control Gross National Product (GNP)
a) To maintain and preserve business competition
Some states have adopted the UETA, which stands for the a) Uniform Electronic Transactions Act. b) Uniform Electronic Transfer Act. c) Uniform Electronic Tracking Act. d) Uniform Electronic Tracking Act.
a) Uniform Electronic Transactions Act.
The ESIGN was designed to a) ensure the validity and legal effect of contracts entered into electronically. b) ensure the legal effect of implied contracts. c) reduce paperwork. d) ensure that all legally binding contracts have a witness signature.
a) ensure the validity and legal effect of contracts entered into electronically.
Native advertising a) looks like editorial copy. b) is allowed on web pages. c) is limited to 200 words or less per ad insertion space. d) does not contain any photos or pictures.
a) looks like editorial copy.
What is it called when a company is served with a legally binding order to stop running a deceptive ad? a) Cease and close order b) Cease and desist order c) Halt and desist order d) Cease and halt order
b) Cease and desist order
What population is most at risk for lead poisoning? a) Children over the age 12 years of age b) Children under 6 years old c) Seniors over the age of 50 years of age d) Adults between the ages of 22 and 35
b) Children under 6 years old
Which of the following statements is most accurate regarding lead-based paint disclosures? a) Federal law expressly provides that noncompliance can be used to void or nullify a contract after ratification. b) Federal law expressly provides that noncompliance can't be used to void or nullify the contract after ratification and can't void any transfer of real estate. c) Licensees, if paid by the seller through a cooperative brokerage agreement, are agents of the seller and are not responsible for ensuring disclosure compliance. d) The law requires a seller to remove lead paint prior to any sale.
b) Federal law expressly provides that noncompliance can't be used to void or nullify the contract after ratification and can't void any transfer of real estate.
Which of the following statements is TRUE? a) Food and liquids cooked or stored in lead crystal or lead-glazed pottery or porcelain do not contain lead. b) Food and liquids cooked or stored in lead crystal or lead-glazed pottery or porcelain may contain lead. c) Most foods contain lead particles. d) Lead poisoning is the number one cause of death in children under the age of 3 in the US.
b) Food and liquids cooked or stored in lead crystal or lead-glazed pottery or porcelain may contain lead.
Which statement about the Junk Fax Prevention Act is TRUE? a) Licensees must check the national registry before sending a fax. b) Licensees can only send faxes to existing clients. c) This act applies only to managing brokers, not their employees. d) Licensees are exempt from this act when sending open house notices.
b) Licensees can only send faxes to existing clients.
Which of the following actions do NOT create a restraint of trade? a) A monopoly b) Open business competition c) Artificially maintaining prices d) A conspiracy
b) Open business competition
What booklet must be provided to buyers of residential dwellings that could be affected by lead-based paint? a) Health Homes and Dwellings b) Protect Your Family From Lead in Your Home. c) What You Need to Know About Lead-Based Paint d) Lead Paint and You
b) Protect Your Family From Lead in Your Home.
Which of the following statements is most accurate? a) Statements from satisfied customers are usually sufficient to support health or safety claims. b) Statements from satisfied customers are usually not sufficient to support health or safety claims. c) Statements from satisfied customers are not allowed to support health or safety claims. d) Ads that make health or safety claims must not be supported by reliable scientific testing.
b) Statements from satisfied customers are usually not sufficient to support health or safety claims.
Legally, what is the proper way to inform a homeowner of termination of a utility service? a) Termination of a utility serviced must be provided in a personal hand-delivered notice. b) Termination of a utility serviced must be provided in traditional paper and ink format. c) Termination of a utility serviced must be provided in traditional phone call. d) Termination of a utility serviced must be provided in a hard copy notice and a follow-up phone call.
b) Termination of a utility serviced must be provided in traditional paper and ink format.
How does a buyer waive the right to a lead-based paint test? a) The buyer must complete Form 67-A. b) The buyer must put it in writing. c) The buyer must tell the seller directly. d) The buyer should take no action regarding a request for a test; after 10 days from the date of contract agreement, the testing period expires.
b) The buyer must put it in writing.
Which of the following statements is most accurate? a) The Electronic Signatures Act was enacted on June 30, 2000. b) The term "electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. c) The Electronic Signatures Commerce Act was designed to ensure the validity of preprinted contract forms. d) Electronic agent means the person who accepts an electronic contract.
b) The term "electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
How is lead dust formed? a) When lead-based paint gets wet b) When lead-based paint is scraped, sanded, or heated c) When lead-based paint is sealed d) When blankets and pillows are laundered
b) When lead-based paint is scraped, sanded, or heated
Under ESIGN, a) both the use and acceptance of electronic records and signatures is mandatory. b) both the use and acceptance of electronic records and signatures is voluntary. c) only the use of electronic signatures is voluntary. d) only the acceptance of electronic signatures is voluntary.
b) both the use and acceptance of electronic records and signatures is voluntary.
Agreements between or among members of a trade to avoid doing business in specific market areas are called a) tie-in arrangements. b) market allocation. c) group boycotts. d) price discounts.
b) market allocation.
Documents required by law to accompany the transportation of hazardous materials a) must have an EPA transport code number. b) must be provided in traditional paper and ink format. c) can be held on an electronic device. d) must be in a separate vehicle than the transport vehicle.
b) must be provided in traditional paper and ink format.
In children, exposure to lead can cause a) yellowish colored skin tone. b) poor muscle coordination. c) loss of hair. d) bad eyesight.
b) poor muscle coordination.
How long must a company honor a do-not-call request? a) 2 years b) 3 years c) 4 years d) 5 years
d) 5 years
Which of these statements is most accurate regarding lead-based paint disclosures? a) Buyer's brokers who are compensated solely by the buyer are not exempt from ensuring compliance under the rule. b) Buyer's brokers who are compensated solely by the buyer are required to complete a lead-based paint disclosure. c) Buyer's brokers who are compensated solely by the buyer are required to witness a lead-based paint disclosure. d) Buyer's brokers who are compensated solely by the buyer are exempt from ensuring compliance under the rule.
d) Buyer's brokers who are compensated solely by the buyer are exempt from ensuring compliance under the rule.
Which agency protects the public against unreasonable risk of injury from consumer products through education, safety standards activities, and enforcement? a) Agency Against Fraud b) Better Business Agency c) Fair Trade Association d) Consumer Product Safety Commission (CPSC)
d) Consumer Product Safety Commission (CPSC)
Where should you send paint chip samples to determine if lead-based paint is present? a) Send them to the Air Quality Control office in Washington D.C. b) Send them to an local EPA office. c) Send them to an local HUD office. d) Send them to an EPA-recognized lead lab for analysis.
d) Send them to an EPA-recognized lead lab for analysis.
If undertaking renovations, repairs, or painting a pre-1978 home, what booklet is suggested reading? a) Safe Guide to Renovation b) Lead-Based Paint and You c) Lead-Based Paint and the Law d) The Lead-Safe Certified Guide to Renovate Right
d) The Lead-Safe Certified Guide to Renovate Right
Which Act is the principal federal statute that covers competition and is one of the most important pieces of antitrust legislation? a) The Nelson Antitrust Act b) The Shane Antitrust Act c) The Mann Antitrust Act d) The Sherman Antitrust Act
d) The Sherman Antitrust Act
Which of the following is a rule of the federal Do-Not-Call List? a) Every state must have its own list. b) Only telemarketers are bound by this law. c) Consumers must update their information on the registry at least every two years. d) The law prohibits unsolicited phone calls to any consumer telephone number listed on the registry.
d) The law prohibits unsolicited phone calls to any consumer telephone number listed on the registry.
Matt Bower is a developer. Will Jones is a builder. Matt agrees to sell Will a lot, but he conditions the sale by insisting that Will agree to list the property with him after the home is built. What is this called? a) Market allocation b) Price fixing c) Coercion d) Tie-in arrangement
d) Tie-in arrangement
