Manufactured homes - Study guides, Class notes & Summaries

A person who induces or attempts to induce any other person to buy or exchange an interest in a manufactured/mobile home or receives or expects to receive a commission from either the seller or purchaser is: A. Guilty of a misdemeanor B. Required to possess a valid manufactured/mobile home manufacturer's license C. Required to possess a valid manufactured/mobile home dealer's or salesperson's license D. May have their license suspended or revoked - ANSWER-C. Required to possess a valid ...

What type of insurance policy must always be purchased separately and not as part of a homeowners' policy? A)Flood B)Liability C)Earthquake D)Falling objects - A) The answer is FLOOD. Flood insurance is always a separate policy and only covers damage due to flooding. The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP). A building that is remodeled into residential units and no longer used for the purpose for which it was originally bui...

detached house. - ANSWERA house that is separated from any adjoining structure with at least some open land on all four sides is a patio house. zero-lot house. detached house. second home. All of the above - ANSWERThe advantages of attached housing include All of the above lower per unit development costs. lower per unit land costs. less environmental impact on the site. greater development costs per unit. - ANSWERAdvantages of attached housing include all EXCEPT lower per unit la...

Junior Mortgage ~ Any mortgage recorded after the first mortgage . Deficiency Judegement ~ Money still owed by the borrower if the foreclosure sale does not bring in enough money to pay the debt owed Demand deposits ~ These banking deposits- such as those made to a checking or traditional savings account must be made available upon demand Interim Financing ~ Generally short term, this kind of financing is obtained to finance a construction project and is usually open-ended Cons...

The five principal types of residential developments are - ANSWER(a) single-family detached houses, (b) single-family attached houses, (c) multifamily residences, (d) mobile homes and (e) second homes. What are the differences between condominium and cooperative ownership? What are some advantages of these types of ownership over renting? - ANSWERThe owner of a condominium holds title in fee simple while the owner of a cooperative owns stock in a corporation. Often the co-op owner cannot disp...

What type of insurance policy must always be purchased separately and not as part of a homeowners' policy? A)Flood B)Liability C)Earthquake D)Falling objects - A) The answer is FLOOD. Flood insurance is always a separate policy and only covers damage due to flooding. The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP). A building that is remodeled into residential units and no longer used for the purpose for which it was originally bui...

What rules should be used when selecting a LEED rating system when more than one system may apply? ~~> 40/60 Use the rating system that is most applicable To verify the compliance of a credit or prerequisite, a qualified member of the project team submits this ~~> Credit Forms This source consumes the largest amount of energy in buildings ~~> Space Heating Legal protection of the ozone layer in the US is provided by this ~~> Montreal Protocol 2009 LEED rating systems, ex...

What organization formed in 1896 develops codes and standards to ensure fire and life safety for the public? : D. NFPA What type of company is responsible for forcible entry? : A. Truck company Which of the following is a minimum requirement for protective clothing and equipment as established by NFPA 1500? : C. Protective equipment must meet current NFPA design standard. According to NFPA 1500 emergency operations are limited to : B. those that can be safely conducted by personnel on...

A buyer whose manufactured/ mobile home has been repossessed and has been properly notified of the dealer's intent to resell the unit may exercise the right to reclaim the unit up to the 15th day after receiving notice: A. if the contract balance is paid in full B. if collection costs incurred by the dealer are paid in full C. if any delinquent fees are paid in full D. all the above are true and may be required - D. all the above are true and may be required A cause for the department to...

Property Management Questions and Answers Already Passed What made it possible to build tall buildings on relatively small parcels of urban land? (a)Steel frame building and the perfection of the electric elevator (b)Advances in the pulley systems (c)The expansion of public transportation (d)The increase in automobile ownership a)Steel frame building and the perfection of the electric elevator For the purposes of studying specialized property management, real estate can be divided into four...