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NYREI SCHOOL EXAM QUESTIONS ANDV ANSWERS
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NYREI SCHOOL EXAM QUESTIONS ANDV ANSWERS
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NYREI SCHOOL EXAM QUESTIONS ANDV ANSWERSA vertical piece used to frame a structure is called a: - answer- stud
Seller client has vicarious liability for each agent except: - answer- brokers
At what point must a salesperson present agency disclosure form to a consumer? - answer- first substantive contact (first face to face meeting)
what is the person refuses to sign agency disclosure form? - answer- they do not have to sign but must get a reason why
Sellers agent is showing a property to a prospective purchaser. if purchaser refuses to sign agency disclosure form, agent should - answer- show the property, but complete declaration form
At open house, listing agent must give disclosure before: - answer- answering questions
about the house
what listing gives broker no real protection? - answer- open
if client signs an exclusive right to sell contract but sells real estate on their own, broker is entitles to: - answer- full original commission
an act of employment where client obligates himself to pay brokerage commission if property sells during term of the agreement is: - answer- exclusive right to sell
Sam and Pam are friendly competing brokers. at lunch sam asks pam how much commission she charges. What should Pam do? - answer- refuse to answer
How are commissions determined? - answer- negotiation by broker + client
An agent who discusses commission rates changed by his broker with someone from another company could be accused of which anti - trust violation? - answer- price - fixing
Agents from separate firms decide not to show houses listed by a discount broker what anti-trust violation does this represent? - answer- group boycott
what was the first fair housing law - answer- 1866 Civil Rights Act
Channeling home buyers to an area because of race is called: - answer- steering
Mrs. Davis purchases a property and is granted the right to cross an adjacent driveway to reach a beach. Mrs. Davis has: - answer- easement appurtenant What are horizontal parallel framing boards used to support floor loads? - answer- joist
With regard to residential insulation, what does R- value refer to? - answer- resistant to heat transfer
What is the standard ventilation rate? - answer- 15 cubic feet per min (CFM) per person
What system delivers heat and AC through the same ducts? - answer- Forced warm air system
As a measure of the force that pushes electricity through a wire, residential circuits operate at: - answer- 110 Volts
Why are circuit breakers better than fuses - answer- they are safer and more convenient
Each is a mandated warranty according to NY state general business law 36B except: - answer- 3 years roof shingles
What federal law addresses hazardous waste sites? - answer- comprehensive environmental response, compensation, liabilities act
what law sharply curtailed use of CFCs? - answer- clean air act
Who protects wetlands? - answer- Army Corps of Engineers
What diseases does asbestos cause? - answer- lung = asbestos + mesothelioma
Before construction can begin, a gov. authority must issue: - answer- building permit
where is asbestos typically found in a home? - answer- around pipes and furnaces
what substance destroys ozone? - answer- CFCs
what should a homebuyer be most concerned about asbestos? - answer- it can contaminate the house if removed improperly since airborne particles are dangerous
Sam is a property manager. he must ensure each apartment has: - answer- co detector
Federal law title X makes real estate licensees liable for disclosure of what hazard? - answer- lead
What must SP give tenants/buyers of homes built before 1978? - answer- lead disclosure + "protect your family" booklet
How many years must SP keep lead forms? - answer- 3
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