Principles of Real Estate Ch.15 (Quiz 15)

Title to a mobile home is transferred by use of a:

(a) document of title

(b) deed

(c) certificate of ownership

(d) contract of sale

(c) certificate of ownership

Which of the following regarding mobile homes is true?

(a) Interest rates on loans are usually lower than on conventional homes

(b) They usually depreciate more rapidly than a conventional home

(c) They cannot be financed using FHA, VA, or Cal-Vet programs

(d) In most cities, they are allowed to be placed in any residential area

(b) They usually depreciate more rapidly than a conventional home

One advantage a two-story home has over a one-story home is:

(a) usually less cost per square foot to build

(b) ease of access to the roof

(c) convenient floor plan for disabled people

(d) easier to maintain

(a) usually less cost per square foot to build

Short vertical pieces of 2 x 4 above an opening are called:

(a) diagonal braces

(b) studs

(c) cripples

(d) rafters

(c) cripples

A footing is what the:

(a) floor sets upon

(b) foundation sets upon

(c) mudsill sets upon

(d) heater sets upon

(b) foundation sets upon

A new modular home from the factory can be sold by:

(a) the developer

(b) a real estate licensee

(c) the Department of Veterans Affairs

(d) none of the above

(d) none of the above

In periods of long-term inflation, most real estate economists advise people who are interested in owning a home to:

(a) rent and wait for prices to drop

(b) rent and wait for interest rates to drop

(c) buy now

(d) lease with an option to buy

(c) buy now

A mobile home park, consisting of five or more lots, is considered a:

(a) PUD

(b) subdivision

(c) community development

(d) stock cooperative

(b) subdivision

Before major remodeling of the interior of a home, structural care must be given in
regards to:

(a) mechanics' liens

(b) pitch of the roof

(c) the bearing-wall

(d) easements on the property

(c) the bearing-wall

Which of the following is false regarding condominium ownership?

(a) There are commercial as well as residential condos.

(b) Each owner has an undivided interest in common areas.

(c) Airspace within each unit is held as fee simple ownership.

(d) All condos are single-level buildings.

(d) All condos are single-level buildings.

For a mobile home to be legally considered real property, it must:

(a) be insured as a home by an insurance company

(b) rest on a permanent foundation

(c) be certified by a proper government agency (building permit)

(d) both (b) and (c) are correct

(d) both (b) and (c) are correct

Which of the following roof styles is best described as a "pitched roof sloping from two sides with the sides meeting at the top"?

(a) Gable roof

(b) Gambrel roof

(c) Hip roof

(d) Mansard roof

(a) Gable roof

What is not a factor to consider when to determine investment potential?

(a) Risk

(b) Liquidity

(c) Carpet quality

(d) Management requirements

(c) Carpet quality

In order to protect a building from seepage of water to the inside, around chimneys, and in the valley of the roof, builders use what is known as:

(a) flashing

(b) matting

(c) drain pipe

(d) curbing

(a) flashing

All registration fees on the transfer of title to a mobile home must be paid within:

(a) five-days

(b) 10-days

(c) 15-days

(d) 30 -days

(b) 10-days