Exam (elaborations)
Pennsylvania Real Estate Fundamentals final exam A (1).
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- Pennsylvania Real Estate Fundamentals
Pennsylvania Real Estate Fundamentals final exam A (1).
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Pennsylvania Real Estate Fundamentals final examA
1 . The clause in a trust deed or mortgage that permits the lender to declare the entire unpaid
balance immediately due and payable upon default is the - ANS-acceleration clause .
The phrase " bundle of legal rights " is properly included in - ANS-the definition of real property .
In Pennsylvania , mine subsidence refers to - ANS-subsurface rights .
A subdivider divided the acreage in to lots and built the streets . As the development grows , the
subdivider intends to give the streets to the local municipality . This is an example of -
ANS-dedication
An owner leases store space to a tenant to operate a restaurant . The tenant has installed
ovens , booths , counters , and other equipment . When would these items become real
property ? - ANS-The items do not become real property , and they remain the tenant's personal
property
tenant's personal property . What is the general real estate tax that generates the most revenue
? - ANS-Ad valorem tax
In regulations regarding lead - based paint , the Department of Housing and Urban
Development ( HUD ) requires that - ANS-known paint hazards must be disclosed .
The purpose of the Recovery Fund is to enable - ANS-people to receive payment of uncollected
judgments licensees .
The Pennsylvania Seller Property Disclosure requires the disclosure of - ANS-source of drinking
water
Which is the value used in calculating annual taxes ? - ANS-Assessment
disclosure 10 . Under what environmental law are landowners held liable when a release of a
hazardous material occurs on their land ? - ANS-CERCLA
What is TRUE about all unilateral contracts ? - ANS-Only one party is obligated to act .
What inspection is required for federally funded projects ? - ANS-Environmental impact
statement
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