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Real Estate Chapter 21 Quiz
49 Questions
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Real Estate Chapter 21 Quiz

Created by
@RadiantLaplace9461

Questions and Answers

Does the seller have any responsibilities regarding lead-based paint?

True

What other hazards may be present in Jessica's potential new home? (Select all that apply)

  • Mold
  • Asbestos
  • All of these (correct)
  • Radon

    • Asbestos was found in most construction until what year?

  • 1990
  • 1980
  • 1970
  • 1978 (correct)

    • The Lead-Based Paint Hazard Reduction Act (LBPHRA) of 1992 requires disclosure of lead-based paint hazards.

    <p>True</p> Signup and view all the answers

    The Environmental Protection Agency (EPA) is authorized to set national health-based standards for drinking water.

    <p>True</p> Signup and view all the answers

    The water table is the natural level at which the ground is saturated.

    <p>True</p> Signup and view all the answers

    Farm and residential storage tanks that hold 1,100 gallons or less of motor fuel used for noncommercial purposes are exempt from federal regulations.

    <p>True</p> Signup and view all the answers

    Underground storage tanks (USTs) are exempt from federal regulations if they hold less than 110 gallons.

    <p>False</p> Signup and view all the answers

    Capping is the process of pouring two to four feet of concrete over the top of the landfill site.

    <p>False</p> Signup and view all the answers

    Defunct, derelict, or abandoned commercial or industrial sites are called brownfields.

    <p>True</p> Signup and view all the answers

    The Superfund was created by the Comprehensive Environmental Response, Compensation, and Liability Act in 1980.

    <p>True</p> Signup and view all the answers

    The Superfund Amendments and Reauthorization Act (SARA) created an 'innocent landowner' immunity status.

    <p>True</p> Signup and view all the answers

    An ecological site assessment, commonly called Phase 1 or Phase 2, is performed to show that due care was exercised.

    <p>True</p> Signup and view all the answers

    In most states, a real estate professional may be liable if they knew of a hazardous condition.

    <p>True</p> Signup and view all the answers

    Tanks that are exempt from federal regulation do NOT include

    <p>Tanks that hold 200 gallons.</p> Signup and view all the answers

    Which of these is responsible for administering the Superfund?

    <p>EPA</p> Signup and view all the answers

    A hole lined with clay or a synthetic liner to prevent leakage of waste material describes what?

    <p>A landfill.</p> Signup and view all the answers

    Individuals have suffered health problems due to exposure to formaldehyde EXCEPT:

    <p>Mold infections.</p> Signup and view all the answers

    Real estate professionals should be particularly alert to evidence of underground storage tanks (UST) such as:

    <p>Fill pipes and stained soil.</p> Signup and view all the answers

    Under the EPA classification, PRPs are:

    <p>Potentially responsible parties.</p> Signup and view all the answers

    Groundwater, which exists under the earth's surface, forms the water:

    <p>Table.</p> Signup and view all the answers

    Encapsulation is often a better solution than removal of which hazardous material?

    <p>Asbestos.</p> Signup and view all the answers

    The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) is administered by:

    <p>Environmental Protection Agency.</p> Signup and view all the answers

    Which of these would disqualify someone from claiming innocent landowner immunity under SARA?

    <p>The owner had only constructive knowledge of the damage.</p> Signup and view all the answers

    According to the U.S. General Accounting Office, brownfields plague communities and:

    <p>Contribute to a decline in property values.</p> Signup and view all the answers

    The flame-resistant chemical compounds used in electrical equipment are known as:

    <p>PCBs.</p> Signup and view all the answers

    Which of the following is FALSE about asbestos?

    <p>HUD requires that all residential buildings be tested for asbestos-containing materials.</p> Signup and view all the answers

    How can property owners help avoid carbon monoxide exposure?

    <p>Have fuel-burning heating systems checked and maintained annually.</p> Signup and view all the answers

    Lead-based paint disclosure is:

    <p>Required by federal law.</p> Signup and view all the answers

    What is the purpose of the Brownfields Law enacted in 2002?

    <p>It distributes funds to clean up polluted sites.</p> Signup and view all the answers

    Nontoxic, nonflammable chemicals used as refrigerants are:

    <p>CFCs.</p> Signup and view all the answers

    In a landfill, after waste is laid on the liner, what is done next?

    <p>A layer of topsoil is compacted onto the waste.</p> Signup and view all the answers

    Groundwater forms the water table, which is:

    <p>The natural level at which the ground becomes saturated.</p> Signup and view all the answers

    A prospective buyer of commercial property should include what in an offer?

    <p>A contingency for an environmental site assessment.</p> Signup and view all the answers

    Capping is the method of:

    <p>Laying soil over the surface of a landfill and planting vegetation.</p> Signup and view all the answers

    Many older tanks in a real estate transaction have never been registered and:

    <p>May not comply with federal laws.</p> Signup and view all the answers

    The safest water is usually provided from:

    <p>A municipal water supply.</p> Signup and view all the answers

    Underground storage tanks (USTs) are commonly found where?

    <p>Petroleum products are used.</p> Signup and view all the answers

    CERCLA regulations for Superfund help pay for cleanup and do NOT include:

    <p>Exempt responsibility for contaminating neighboring properties.</p> Signup and view all the answers

    The federal legislation to protect public health regarding drinking water supply is:

    <p>The Safe Drinking Water Act (SDWA).</p> Signup and view all the answers

    At least how much of a tank must be underground for it to be considered an underground storage tank?

    <p>10%</p> Signup and view all the answers

    Who should real estate professionals rely on for sound environmental information?

    <p>Technical experts in the field.</p> Signup and view all the answers

    Under CERCLA, landowners can be held responsible for cleanup regardless of their actions.

    <p>True</p> Signup and view all the answers

    The federal underground storage tanks (UST) program is regulated by:

    <p>The Environmental Protection Agency.</p> Signup and view all the answers

    Federally funded projects require:

    <p>An environmental impact statement (EIS).</p> Signup and view all the answers

    To avoid liability associated with environmental issues, the real estate professional should:

    <p>Become familiar with common environmental problems.</p> Signup and view all the answers

    The process used to extract natural gas from deep layers of rock is known as:

    <p>Fracking.</p> Signup and view all the answers

    All of the following are true about underground water contamination EXCEPT:

    <p>It is a minor problem in the United States.</p> Signup and view all the answers

    What causes mold problems in buildings?

    <p>Chronic moisture problems.</p> Signup and view all the answers

    Study Notes

    Lead-Based Paint and Responsibilities

    • Beatrice cautioned Jessica about potential lead-based paint hazards in older homes, emphasizing seller's obligations for disclosure.
    • Lead-based paint disclosure is required by federal law for residential properties.

    Environmental Hazards

    • Various environmental hazards may exist in homes, including mold, radon, and asbestos.
    • Mold problems in buildings are primarily caused by chronic moisture.

    Asbestos Regulations

    • Asbestos was widely used in construction until its ban in 1978.
    • HUD does not mandate testing all residential buildings for asbestos materials.

    Superfund and Environmental Protection

    • The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) established Superfund to manage hazardous waste sites and spills.
    • Superfund Amendments and Reauthorization Act (SARA) provides "innocent landowner" immunity in specific conditions.

    Groundwater and Water Supply

    • The water table is the natural saturation level of ground, often susceptible to contamination.
    • Municipal water supplies are typically the safest source of drinking water.
    • Federal regulations exempt tanks of specific capacities from oversight, including tanks under 110 gallons.

    Underground Storage Tanks (USTs)

    • USTs are often found at sites where petroleum products are utilized, like gas stations.
    • Tanks must be at least 10% underground to be classified as USTs.

    Real Estate Practices

    • Environmental assessments should be included as contingencies in commercial property offers.
    • Real estate professionals could be liable for known hazardous conditions, regardless of seller disclosures.

    Regulatory Framework and Compliance

    • Environmental assessments, such as Phase 1, ensure due diligence regarding environmental impairments.
    • Federally funded projects require an environmental impact statement (EIS).

    Health Risks and Mold

    • Exposure to formaldehyde can lead to various health issues, excluding mold infections which are caused by moisture.

    Contamination and Liability

    • Owners of contaminated properties can be held responsible for cleanup regardless of their involvement in the contamination.
    • CERCLA imposes strict liability on potentially responsible parties (PRPs) involved with hazardous waste.

    Climate Change Implications

    • The fracking process is used for extracting natural gas from deep rock layers, raising environmental concerns.

    Brownfields and Community Impact

    • Brownfields negatively affect property values and community health, prompting legislative efforts for cleanup and redevelopment.

    Asbestos Remediation

    • Encapsulation is often preferred for managing asbestos rather than removal due to potential contamination risks.

    Compliance and Best Practices

    • Real estate professionals should collaborate with technical experts for reliable environmental information to minimize risk in property transactions.

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    Description

    Test your knowledge on potential hazards in older homes such as lead-based paint, mold, radon, and asbestos. This quiz covers essential responsibilities of sellers regarding existing hazards. Perfect for anyone studying real estate or preparing for home inspections.

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