Unit 3 Quiz

The earthquake safety disclosure statement a. must be signed by buyer and seller b. applies to 1 to 4 residential units c. both applies to 1 to 4 residential units and must be signed by buyer and seller d. is voluntary

both applies to 1 to 4 residential units and must be signed by buyer and seller

An agent's inspection under Easton v. Strassburger (as codified by state statutes) applies to a. all of these b. accessible areas only c. 1 to 4 residential units d. visual inspections

all of these

The Seller Financing Disclosure Statement provided to both buyer and seller provides a. disclosure of deferred interest b. a warning as to balloon payments c. credit terms d. all of these

all of these

A selling agent must comply with agency disclosures to the buyer a. prior to qualifying the buyer b. upon delivery of the seller's acceptance c. before the buyer executes an offer d. prior to showing property

before the buyer executes an offer

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

a 3-unit residential building

The proper order of the steps taken in agency disclosure is a. confirm, elect, disclose b. elect, disclose, confirm c. disclose, elect, confirm d. elect, confirm, disclose

disclose, elect, confirm

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. buyers only d. the Bureau of Real Estate

his or her principal

Real Estate disclosure laws apply a. primarily for 1 to 4 residential units b. uniformity to all real estate transactions c. to buyer disclosure only d. to disclosures to principals only

primarily for 1 to 4 residential units

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

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

An agent is required to disclose to a buyer that: a. a former owner had AIDs b. the property has earthquake weakness if it was built before 1960 c. there is a licensed care facility that serves three people across the street from the property d. there was a death by murder or suicide on the property more than 3 years ago

the property has earthquake weakness if it was built before 1960