NC Real Estate Chapter 6

In regulations regarding lead-based paints, HUD requires that:

• all owners of properties built prior to 1978 test for its presence

• paint must be removed from surfaces before selling

• known paint hazards must be disclosed

• only licensed contractors may engage in removal of any lead-based paint

The purpose of CERCLA is:

• to create liability and a pool of funds for the cleanup of environmental hazards

• to regulate the distribution and handling of hazardous materials

• to inform the public of environmental hazards

• to regulate the disclosure of environmental hazards in real estate transactions

A colorless, odorless gas that emanates from the ground and can build to dangerous toxic levels in homes is called:

• asbestos

• carbon monoxide

• radon

• asbestos

A seller has indicated to the listing agent that the heating closet area is lined with asbestos. The seller tells the listing agent that the asbestos was tested and since it was not friable posed no environmental hazard. Which of the following would be an appropriate comment for the listing agent to make to prospective buyers?

• There is no dangerous asbestos in this home.

• The asbestos was tested and poses no danger to anyone who occupies the home.

• The home has asbestos.

• I am not aware of any dangerous asbestos in the home.

The entity in North Carolina that is responsible for environmental and natural resources is:

• NCREC

• NCDENR

• Superfund

• CERCLA

All of the following are correct regarding Superfund and CERCLA, EXCEPT:

• once a site has been determined to be a Superfund site, the disclosure lasts forever

• Superfund imposes strict liability

• current and past owners can be jointly and severally liable

• only the current owner of a property is liable for its cleanup

The federal mandatory 10-day inspection period for lead-based paint in pre-1978 residences applies to:

I. properties for sale or exchange

II. properties for rent or lease

• I only

• II only

• Both I & II

• Neither I nor II

Asbestos is most dangerous to consumers and homeowners when:

• it is wet

• it is not friable

• it is moved or relocated

• it is encapsulated

What is the best way to correct the possible problems that a home may experience in regard to the buildup of radon gas?

• ventilation

• removal of the soil

• increasing the amount of the home's insulation

• radon cannot be remediated once it is present

Under federal law, the mandatory inspection period regarding lead-based paint is:

• 3 days

• 5 days

• 10 days

• 15 days