Residential occupancy - Study guides, Class notes & Summaries

M100 2023 Exam Questions and Answers All Correct Community Association - Answer--Legal entity in which the owners enjoy the protection, enhancement, maintenance, and preservation of their homes and property Three defining characteristics of Community Association - Answer--Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments Mandatory Membership - Answer--Membership in the community association is mandatory and automatic for all owners Mutually Binding Documents...

What is the first offense penalty for engaging in the practice of residential building without a license? Not less than $5,000 and not more than $25,000 and/or one year in prison. Subsequent violations can extend the prison time to up to 2 years. What is the penalty for engaging in the practice of residential builders license, resulting in a death? Not less than $5,000 and not more than $25,000 and/or four years in prison On your individual builder's license application, what sh...

Michigan Builders License - All questions for the 60 Course Questions with correct Answers A layer of new wood on a tree just under the bark is called __________. · Xylem · Sap · Cambium · Phloem Cambium The Department and the __________ may remove a limitation. Hearing Examiner Director Board Commission Board A salesperson shall turn over money for a sale to their licensed builder Immediately Within 10 days Within 48 hours Anytime ...

Characteristics of a Community Association CORRECT ANSWER Mandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association CORRECT ANSWER Business - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations CORRECT ANSWER Planned Community - Owners owns his lot/living unit and community owns common areas (tennis courts, basketball courts, etc.). Condominium -...

1. One of the best ways to stress the importance of inspections upon building owners is through : - A follow - up visit . 2. In an inspection report , fire inspectors are generally concerned with presenting the facts and evidence to prove a point , draw a conclusion , or : - Justify a recommendation 3. Which statement regarding inspection forms / checklists is true ? - They are very useful for inspecting common items and / or complex processes . 4. During an inspection of a bui...

Real Estate U Final Exam 2-Answered correctly-latest 2023/2024 Real Estate U Final Exam 2-Answered correctly-latest 2023/2024 Which of the following are tax-deductible expenses resulting from home ownership? Mortgage interest and property taxes Which of the following is true regarding the $500,000 exemption, in the sale of a personal residence, for a married couple filing jointly? A married couple can use the $500,000 joint exemption if only one meets the ownership requirement, but...

"Residential builder" correct answer: person who erects a residential structure or combination residential and commercial structure except for the person's own use and occupancy on the person's property A person may act in the capacity of a residential builder if: correct answer: 1) they are authorized rep of US gov 2) An owner of property, with reference to a structure on the property for the owner's own use and occupancy 3) a few others, but mainly those two True or False: the ...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the indi...

Nursing Facilities AKA - correct answer Nursing homes (both) skilled nursing facilities (medicare) (SNF) Intermediate care facilities (medicaid) Nursing Facilities - correct answer Provide a broad range of personal, social, and medical services to assist people with functional or cognitive limitations What type of nursing facilities are available? - correct answer ...

Created to serve as a complete, comprehensive code regulating the construction of single-family, two-family and buildings consisting of three or more townhouse units. - Answer IRC (International Residential Code) Administrative - Answer First 2 chapters of code book are True - Answer Plans or supporting documents are almost always required by the controlling authority prior to issuing a permit. T or F Yes - Answer Does the building official have the authority to render interpretations o...