PA Real Estate Exam (Test Questions from Temple Course) with correct answers 100%

PA Real Estate Exam (Test Questions from Temple Course) with correct answers 100% 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 - Correct Answer 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 built is A)a modular home. B)a converted-use property. C)a planned unit development. D)an example of urban homesteading. - Correct Answer A) The answer is A CONVERTED-USE PROPERTY. Factories, office buildings, hotels, schools, churches, and other structures that have been converted to residential use are classified as converted-use properties. Each room of a house was preassembled at a factory, driven to the building site on a truck, and then lowered onto its foundation by a crane. Later, workers finished the structure and connected plumbing and wiring before the owners moved in. Which term BEST describes this type of home? A)Converted B)Mobile C)Manufactured