LECCHRIS

When must a firm practicing "designated agency" disclose to the seller the name of the agent representing the buyer. A: at first substantial contact with the seller B: at initial contact with the seller C: at the time the buyer's agent shows the seller's property D: at the time the offer is submitted to the seller - ANSWER D: at the time the offer is submitted to the seller What is the first point at which a provisional broker may begin practicing real estate in North Carolina...

Which of the following statements is true regarding Ad Valorem taxation in North Carolina? 1. Real property is taxed according to its most recent sale price. 2. The Machinery Act requires reassessment tax purposes every 4 years. 3. Real property taxes and special assessments constitute an involuntary lien against property on January 1st of the next year. 4. Tax rates are effective until the next revaluation year. - ANSWER 3. Real property taxes and special assessments constitute an involu...

What are the four main soil classifications? - ANSWER Sand, Gravel, Silt and Clay A soil engineer rates change of soil volume by the ____ - ANSWER Plasticity index A monolithic slab is a perimeter beam and slab that are ____? - ANSWER Poured at the same time as one piece. A 4 inch slab floor will not support _____? - ANSWER an interior load-bearing wall.

Which of the following BEST describes the report statement shown below? "The roof is in good condition for its age." A. Conclusion B. Recommendation C. Description D. Disclaimer - ANSWER Conclusion

P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - ANSWER Set up a meeting with the applicant to answer the remaining questions Which of the following does Social Security NOT provide benefits for? - ANSWER Dismemberment An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums - ANSWER 10

Time share - ANSWER A right to occupy a unit during 5 or more separate time periods over a period of at least 5 years, can be freehold or non-freehold estate What are other names for a time share? - ANSWER Vacation lease, prepaid hotel reservation, club membership, limited partnership or vacation bond How long does someone have to cancel a time share contract? - ANSWER 5 days How long must a time share developer keep money in a trust account? - ANSWER 10 days before moving to operating ...

SOP - ANSWER Standards of Practice The Standard of Practice applies to buildings with - ANSWER four or fewer dwelling units and their garages or carports. Electric eye sensors should be_____ from floor maximum - ANSWER 4 inches Attached garages should have - ANSWER a firewall between the house and garage.

The inspector is not required to determine ____ ___ of any system or component. - ANSWER -Years of age -Life expectancy -Make model Horizontal waste pipe should slope ____ inch per foot - ANSWER 1/4" per foot if < 3 inch pipe. 1/8" per foot if > or = to 3 inch pipe Drip screed - ANSWER Also called weep screed. Used at the base/bottom of stucco walls to release moisture

What is the maximum TREC will pay? - ANSWER $12,500 per transaction; $30,000 for each licensee Number of members on TREC? - ANSWER 9; 6 Brokers / 3 Public. The each serve staggered years. How many members are on the Texas Real Estate Inspector Committee? - ANSWER 9; all professional inspectors for 5 years. Staggered 6 year terms. 3 members expire Feb 1st in odd-numbered years. How many hours requirement for renewal of each of the three types of licensees? - ANSWER 16, 8, 0

If there is a hole in the return plenum for a furnace, is that ok? - ANSWER No Ground rod sticking two feet out of the ground, is this allowed? - ANSWER No An attic chimney shows a 2" gap between the chimney and the lower floor ceiling rafters. You can see all the way down to the crawl space with a flashlight. What do you write on your report? - ANSWER Fire-stop this area with metal flashing You find a notch in the bottom chord of an attic roof truss. It was made to make room for a p...