SAE Residential Inspection Champions TX Key Terms 2020 questions with correct answers

inspection CORRECT ANSWER a process of looking at and examining accessible items, parts, systems, or their components and the reporting of any observed deficiencies on the TREC-mandated report form. A limited visual survey and evaluation of the basic operation of the systems and components of a building, using normal controls. It does not require the use of specialized tools or procedures. The purpose of the inspection is to provide the client with information regarding the general condition of the residence at the time of inspection. licensed real estate inspector CORRECT ANSWER a trained and qualified individual who reports his or her opinion as to whether an item inspected during a real estate inspection is performing its intended function. The inspector addresses the conditions which are present, accessible, and visible at the time of the inspection and checks that all equipment is operating in the normal operating mode using normal controls. Texas Real Estate Commission (TREC) CORRECT ANSWER licenses inspectors as well as real estate license holders. Standards of Practice CORRECT ANSWER Inspectors must use TREC-promulgated inspection forms to provide for uniformity of reporting. The promulgated form lists what must be covered and prescribes the order in which inspectors report the findings. The uniform report is used to present inspectors' findings to the client. deficiency CORRECT ANSWER a condition that, in the inspector's reasonable opinion, adversely and materially affects the performance of a system or component or constitutes a hazard to life, limb, or property. RESPA (Real Estate Settlement Procedures Act) CORRECT ANSWER Designed to help consumers become more knowledgeable of settlement services costs, RESPA also prohibits abusive practices such as undisclosed referral fees and kickbacks. The purpose of RESPA is to keep costs low for consumers in order to encourage them'/ to buy houses more frequently.