Unit 3 Quiz

Yan is a real estate professional representing a seller who wishes to use their own property measurements for marketing their property. However, Yan knows he is responsible for ensuring the property is measured according to the RMS. Which of the following statements can Yan make to resolve this situation? A) Yan can tell the seller that their measurements may be provided as an additional measurement for the property B) Yan can tell the seller he will enter their measurements as the property size in the listing service C) Yan can tell the seller it would be illegal for him to use their measurements for marketing the property D) Yan can tell the seller a qualified measurement service must be used to determine the property's size - Answer-A How would a real estate professional determine the RMS area for a slope adapted property? 1. Include all below grade levels that are fully developed 2. Include any levels that are partially below grade 3. Include all levels that are above grade 4. Exclude any levels that are below grade A) Statements I and II B) Statements I and III C) Statements II and IV D) Statements III and IV - Answer-D Which of the following statements are correct regarding the RMS? 1. There is no relationship between the form of property ownership and the RMS methodology used 2. RMS has different measurement methodologies for detached and attached properties 3. Applying the wrong RMS methodology does not affect the accuracy of the measurements 4. The form of property ownership determines the RMS methodology used A) Statements I and II B) Statements II and III C) Statements II and IV D) All statements apply - Answer-A In regards to RMS, which of the following situations would warrant an Advisory Note? A) A minor mathematical calculation or dimension reading mistake B) Data entry errors C) Discovering and correcting an error prior to RECA becoming aware of the issue D) All statements apply - Answer-D Which of the following statements are characteristics of attached properties?