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national psi CE shop
Terms in this set (25)
You're showing a house when you notice piles of what looks like sawdust outside near the basement windows. This may be evidence of which pest?
Sandra retired from a career in the Navy and is ready to buy her first home, a small bungalow in a quiet neighborhood, for $169,900. Her military service gives her the benefit of Veterans Affairs (VA) loan. What's her required down payment?
Which of these is an example of puffery?
Gregory and Dianne are American citizens of Cuban origin, and when their home loan is denied, they suspect discrimination. Which of the following acts prohibits lender discrimination on the basis of the protected class of national origin?
Kelly is closing on the house she's purchasing on Wednesday. Which of these statements is true?
Everything in your office is potentially at risk from thieves and other criminals. Because of this, what should you never do?
REALTOR® Arnold was instructed by his client Sebastian to find a buyer who would "fit into the neighborhood." What is Arnold's responsibility in this situation?
In states where full disclosure isn't required, whose responsibility is it to disclose any items required by law and respond honestly to any questions about the property's condition?
Mariah was appointed to a two-year term on Garden City's planning board. She's looking forward to meeting her fellow board members and working collaboratively on issues that affect their town. She's been told that the first order of business is a revision of the document that outlines the community's long-term needs and provides guidance on capital budgeting for those needs. What is this document called?
The Simpsons are buying a five-acre tract that has always been part of a larger parcel. When the owners of the large acreage decided to subdivide it, they needed to have a legal description created for the five-acre lot. What was used as the starting point for creating that legal description?
What's the primary difference between an ordinary and a pur autre vie life estate?
A new real estate professional is getting to know licensees at his new firm, Tremont Homes. One licensee tells him there's an unwritten agreement with a neighboring firm that Tremont serves the mid-town area, and everyone who has prospective clients in that area refer their leads to Tremont. What's this an example of?
What would happen if you bought a house and later found out that there were unpaid liens against the property?
Marla's excited about closing on a cute lakefront cottage. But when she reads the report from the home inspection, she learns that the chimney leaks and that there is water damage in several places. This wasn't on any of the seller's disclosures. Which of these is the best option for Marla
What information does the Loan Estimate provide to buyers under required disclosures law?
When you use a comparative market analysis to calculate a suggested listing price range for a particular property, which of the following actions will you take?
Residents of Tinytown have been complaining to town officials that the village-like character of their town is being affected by the medium-rise condos that developers are building on the edge of town. In response, local government officials rezoned the areas on the edges of town as parklands. What type of zoning is this?
Todd and Tory sign a contract agreeing to falsify the cost of roofing repairs on Todd's house so Tory can collect more insurance money. Why is this contract invalid?
Which physical characteristic of land addresses the concept that the geographic location of a piece of land is fixed and can never be changed?
Ashish is purchasing a bank-owned property. His real estate agent tells him the bank is offering insurable, not marketable, title. What does this mean to Ashish?
Clint is interested in making an offer on a house with hardwood floors that will need to be replaced. The hallway is 18' x 6'. The kitchen is 20' x 30'. The living room is 25' x 45'. Two bedrooms are 12' x 16', and the master bedroom is 14' x 20'. If the cost of the flooring is $5.48 per square foot, and the cost of installation is $1.49 per square foot, how much can Clint plan to spend to replace the floors?
How many acres are in a parcel described as, "The NE 1/4 SW 1/4 Section 3, Township 4S, Range 2W of the 6th PM"? This legal description defines a quarter-quarter section, which is 40 acres. Alternatively, multiply the two fractions' denominators (4 × 4) and divide into 640 (640 ÷ 16 = 40).
Jordan works as a property manager for several residential property owners. When she receives security deposits from tenants, how long does she have to deposit them into an escrow account?
Sam's kids talked him into putting up the basketball hoop that their grandparents got them for Christmas. On a quiet Saturday afternoon, Sam is busy nailing the backboard to the front of their garage facing the street when one of the officers of the homeowners association walks by. "I'm so sorry," she says, "but you'll have to take that down. Basketball hoops in direct view of the street are prohibited." What is in place in Sam's subdivision that would prohibit this?
Which of the following is the best example of a tie-in arrangement?
In marketing her new listing, Alice asks the photographer to "touch-up" the photos of the house so that the old roof and siding look as though they are new. Which statement about this is true?
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