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Study Questions 1 60 HR MREP Flashcards | StudBud
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Study Questions 1 60 HR MREP
Study Questions 1 60 HR MREP
20 terms
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20 questions plus explanations
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Answers
1
A license is an example of...
an easement apppurtenant
a personal privilege
an encroachment
a restriction
2
An easement appurtenant
terminates with the sale of the property
runs with the land
is revocable
is the right-of-way for a utility company
3
Which factor primarily affects supply in the real estate market
employment
demographics
governmental monetary policy
population
4
When demand for a commodity decrease and supply remains the same,
price is not affected
price tends to rise
price tends to fall
the market becomes stagnant
5
The type of easement that is a right-of-way for a utility company's power lines is...
an easement by prescription
an easement by gross
a nonassignable easement
an easement by necessity
6
Radon is ...
only found in the eastern United States
easy to detect because of its odor
not found in older homes
a known human carcinogen
7
Schools would be considered part of which real estate classification?
special purpose
industrial
residential
commercial
8
Which of the following is NOT an example of governmental power
Eminent Domain
Remainder
Police Power
Taxation
9
Urea-formaldehyde is found in residential properties in...
USTs
home appliances
lead-based paints
insulating foam
10
Nationwide Multistate Licensing System and Registry was created to register
home inspectors
mortgage loan originators
appraisers
property manager
11
A property owner who has the legal right to use a neighbor's land holds
an estate in land
an encroachment
an easement
a police power
12
Which of the following is a legal life estate?
Leasehold
Determinable Fee
Homestead
Fee Simple Absolute
13
The difference between the cost basis of property and its net selling price is
cost recovery
appreciation
capital gain
leverage
14
The right of the government body to take ownership of real estate for public use is called...
condemnation
escheat
police power
eminent domain
15
In regulations regarding lead-based paints, HUD requires that...
known lead-based paint hazards be disclosed
only homeowners deal with its removal
homeowners test for its presence
paint be removed from surfaces before selling
16
Asbestos can cause...
AIDS
lung disease
skin cancer
radiation sickness
17
All of the following may contribute to the growth of mold EXCEPT:
improperly installed gutters
low humidity
roof leaks
presence of EIFS
18
Contamination from underground storage tanks is...
only caused by tanks currently in use
found only in petroleum stations
easily detected and eliminated
addressed by EPA regulations
19
In general, when the supply of a certain commodity increases
prices tend to drop
demand for it tends to rise
prices tend to rise
demand for it tends to drop
20
The term encapsulation refers to the method or process of...
applying insulation to pipes and wiring systems
sealing a landfill with 3 - 4 ft of topsoil
lead-based paint particles becoming airborne
sealing disintegrating asbestos
