Manufactured Home Quiz
Which of the following is considered a mobile home?
a) Factory-built homes constructed before June 15, 1976
b) Homes that are built according to HUD Code
c) Homes that are titled as real estate
d) Homes with the RED CERTIFICATION LABEL - Answer-(a) Factory-built homes constructed before June
15, 1976
How are modular homes constructed?
a) In accordance with the HUD Code
b) In a factory to state and local building codes
c) Fully constructed on-site like any other traditional home being built
d) Only the foundation is constructed in a factory; the home is constructed on site - Answer-(b) In a
factory to state and local building codes
What is the purpose of the RED CERTIFICATION LABEL on manufactured homes?
a) It indicates compliance with the HUD Code
b) It allows homeowners to reconstruct their homes after a fire
, c) It certifies the home as real property under city ordinances
d) It signifies mortgage financing has been approved by the Lender - Answer-(a) It indicates compliance
with the HUD Code
What is a chattel loan?
a) A loan secured by the land and the manufactured home
b) A Retailer Loan secured only by the manufactured home
c) A loan provided by a mortgage originator for financing a manufactured home
d) A loan provided by a mortgage originator for financing modular homes - Answer-(b) A Retailer Loan
secured only by the manufactured home
Which of the following statements about MH communities is true
a) All Manufactured Home lots in MH Communities are individually taxed or titled as real property.
b) Leased-Lot Communities typically have a lower fees and costs on each resident's lot compared to
Resident-Owned Communities
c) Resident-Owned Communities are always owned and operated by a for-profit corporate landlord
d) The first step in residents converting their Leased-Lot community into a Resident-Owned Community
is by purchasing the Leased-Lot community from their landlord - Answer-(d) The first step in residents
converting their Leased-Lot community into an Resident Owned Community is by purchasing the
Leased-Lot community from their landlord
In determining eligibility for financing, the manufactured home appraisal and underwriting process
might look carefully at each of the following, except
a) The presence (or absence) of access roads to the home
b) The Manufacturer of the Kitchen Appliances
c) The manufacturer certifications regarding factory construction standards
Which of the following is considered a mobile home?
a) Factory-built homes constructed before June 15, 1976
b) Homes that are built according to HUD Code
c) Homes that are titled as real estate
d) Homes with the RED CERTIFICATION LABEL - Answer-(a) Factory-built homes constructed before June
15, 1976
How are modular homes constructed?
a) In accordance with the HUD Code
b) In a factory to state and local building codes
c) Fully constructed on-site like any other traditional home being built
d) Only the foundation is constructed in a factory; the home is constructed on site - Answer-(b) In a
factory to state and local building codes
What is the purpose of the RED CERTIFICATION LABEL on manufactured homes?
a) It indicates compliance with the HUD Code
b) It allows homeowners to reconstruct their homes after a fire
, c) It certifies the home as real property under city ordinances
d) It signifies mortgage financing has been approved by the Lender - Answer-(a) It indicates compliance
with the HUD Code
What is a chattel loan?
a) A loan secured by the land and the manufactured home
b) A Retailer Loan secured only by the manufactured home
c) A loan provided by a mortgage originator for financing a manufactured home
d) A loan provided by a mortgage originator for financing modular homes - Answer-(b) A Retailer Loan
secured only by the manufactured home
Which of the following statements about MH communities is true
a) All Manufactured Home lots in MH Communities are individually taxed or titled as real property.
b) Leased-Lot Communities typically have a lower fees and costs on each resident's lot compared to
Resident-Owned Communities
c) Resident-Owned Communities are always owned and operated by a for-profit corporate landlord
d) The first step in residents converting their Leased-Lot community into a Resident-Owned Community
is by purchasing the Leased-Lot community from their landlord - Answer-(d) The first step in residents
converting their Leased-Lot community into an Resident Owned Community is by purchasing the
Leased-Lot community from their landlord
In determining eligibility for financing, the manufactured home appraisal and underwriting process
might look carefully at each of the following, except
a) The presence (or absence) of access roads to the home
b) The Manufacturer of the Kitchen Appliances
c) The manufacturer certifications regarding factory construction standards
