EXAM 200+ QUESTIONS AND DETAILED
ANSWERS
Seller's confidential info - ANS>>-Reason of property sale
-Motivation regarding sale
-Price seller will accept for sale
-Offers received by seller
Buyer's confidential info - ANS>>-Reason for purchase of property
-Motivation to purchase
-Price willing to pay for property
-Offers submitted
Trustee - ANS>>Legally appointed person to hold assets for benefits of
one or more persons. Trust agreements set out terms of trustee's
powers and duties.
,Executors - ANS>>Person who receives title of property when owner of
the property is deceased.
Development permits - ANS>>-Used for new subdivisions.
-Authorizes location, size and use of building.
Building permits - ANS>>-Used for new residential buildings.
-Valid for one year in which building must proceed.
-ABC establishes technical specifications for new buildings.
Occupancy permits - ANS>>-Used for new residential buildings. Builder
must secure permit before residence is approved for occupation by
purchaser.
Subsequent building permits - ANS>>-Used to change existing buildings.
-Required for new additions, demo or relocation, Major alterations or
renovation, supplemental structure.
Concepts of residential construction - ANS>>-Technology
-Sustainability
,-Accessibility
-Adaptability
Technology - ANS>>-the process of implementing single application to
operate multiple functions of a property
Sustainability - ANS>>-Use and recycling of materials used in
construction
Accessibility - ANS>>-Individuals ability to access a building, move
within and independence without barriers. IE Ramps, lifts elevators.
Adaptability - ANS>>-How easy it is to change a home to meet a client's
need, ie a home to grow old in.
Developer warranty programs - ANS>>-1 year warranty on
materials/workmanship used to construct residence, begins when
buyer takes possession.
Extended warranty programs - ANS>>-In conjunction with builder's
warranty, provides 10-year protection against structural defects.
, Manufactured construction - ANS>>-3 sections almost complete (up to
95%)
-Minimal time required to join and complete sections.
Modular construction - ANS>>-Three-dimensional, combined to create
cohesive building.
-85% complete, few weeks to fully develop.
Panelized construction - ANS>>-Prefabricated wall, floor or roof panel.
-Partial wall panel is framing sheathing.
-Completed wall panel include windows and or siding.
Building substructure - ANS>>Below grade construction of foundation.
Building superstructure - ANS>>Above grade construction of building.
-Envelope, service systems, interior building features.
Building envelope - ANS>>-Everything that encloses structure and
protects from elements.
-Roof, exterior walls, windows, exterior doors and interior walls.