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Maine Real Estate Practice Exam #1 Questions & Answers(Graded A+)
A metes and bounds description of real property relies on: - ANSWER-a point of beginning, measurement of distances, and directions on a compass. Fee simple ownership describes: - ANSWER-current ownership. A life estate interest describes: - ANSWER-future ownership. Which of the following statements about Susan, the tenant of a life estate, is TRUE? - ANSWER-She may sell her interest to Phillip, who would then hold the life estate until Susan dies. Which of the following is NOT an ele...
- Exam (elaborations)
- • 10 pages •
A metes and bounds description of real property relies on: - ANSWER-a point of beginning, measurement of distances, and directions on a compass. Fee simple ownership describes: - ANSWER-current ownership. A life estate interest describes: - ANSWER-future ownership. Which of the following statements about Susan, the tenant of a life estate, is TRUE? - ANSWER-She may sell her interest to Phillip, who would then hold the life estate until Susan dies. Which of the following is NOT an ele...
Maine Fuel Board Rules: Propane and Natural Gas Exam Questions & Answers Correctly Solved
Any existing code violations must be reported to the ___ in writing - ANSWER-owner All gas fired burner must be installed with a properly installed and operating ___ (what shuts off the system when there isn't proper water flow) - ANSWER-low water cut-off Where is the low water cut off never installed? - ANSWER-Below the crown sheet Where may the low water cut off be installed if not directly in the boiler? - ANSWER-On the main supply line (vertical riser) as close to boiler as possi...
- Exam (elaborations)
- • 2 pages •
Any existing code violations must be reported to the ___ in writing - ANSWER-owner All gas fired burner must be installed with a properly installed and operating ___ (what shuts off the system when there isn't proper water flow) - ANSWER-low water cut-off Where is the low water cut off never installed? - ANSWER-Below the crown sheet Where may the low water cut off be installed if not directly in the boiler? - ANSWER-On the main supply line (vertical riser) as close to boiler as possi...
Maine Fuel Board Rules Exam Questions & Answers 100% Verified
Upon request, the supervising master oil and/or solid fuel burning technician must provide what? (3.1.2.3) - ANSWER-A signed affidavit documenting all practical experience performed by an apprentice or journeyman under the master oil and/or solid fuel burning technician's supervision (pg 4) A master oil and/or solid fuel burning technician cannot do what? (3.1.2.4) - ANSWER-A master oil and/or solid fuel burning technician cannot supervise an apprentice or journeyman whose license authorit...
- Exam (elaborations)
- • 8 pages •
Upon request, the supervising master oil and/or solid fuel burning technician must provide what? (3.1.2.3) - ANSWER-A signed affidavit documenting all practical experience performed by an apprentice or journeyman under the master oil and/or solid fuel burning technician's supervision (pg 4) A master oil and/or solid fuel burning technician cannot do what? (3.1.2.4) - ANSWER-A master oil and/or solid fuel burning technician cannot supervise an apprentice or journeyman whose license authorit...
Maine Gas Exam - with codes Questions & Answers Rated A+
When more than 2 90° elbow's are required in a vent connector, the maximum capacity of the connector shall be reduced for each additional 90° elbow by? - ANSWER-10% NFPA 54 13.2.7 What is the minimum test pressure that can be used for testing newly installed gas piping? - ANSWER-1 1/2 times the working pressure. Not less than 3 psi NFPA 54 8.1.4.2 What is the minimum vertical distance to the bottom of a combustion air intake located on the exterior of a building above adjacent f...
- Exam (elaborations)
- • 20 pages •
When more than 2 90° elbow's are required in a vent connector, the maximum capacity of the connector shall be reduced for each additional 90° elbow by? - ANSWER-10% NFPA 54 13.2.7 What is the minimum test pressure that can be used for testing newly installed gas piping? - ANSWER-1 1/2 times the working pressure. Not less than 3 psi NFPA 54 8.1.4.2 What is the minimum vertical distance to the bottom of a combustion air intake located on the exterior of a building above adjacent f...
Maine Oil Exam Study Guide With Correct Complete Solutions
Maximum length of unsupported FMC is? - ANSWER-3' Maximum amperage of a #14 awg conductor is? - ANSWER-15 Ground wires are usually what color? - ANSWER-Green and Bare When testing electrical circuits for a complete path of current what is the term? - ANSWER-Continuity OHMS represents what electrical term? - ANSWER-Resistance What is the minimum number of switches for oil fired appliances? - ANSWER-3 Sheathed cable must be supported within what distance from a connection? - A...
- Exam (elaborations)
- • 10 pages •
Maximum length of unsupported FMC is? - ANSWER-3' Maximum amperage of a #14 awg conductor is? - ANSWER-15 Ground wires are usually what color? - ANSWER-Green and Bare When testing electrical circuits for a complete path of current what is the term? - ANSWER-Continuity OHMS represents what electrical term? - ANSWER-Resistance What is the minimum number of switches for oil fired appliances? - ANSWER-3 Sheathed cable must be supported within what distance from a connection? - A...
CFP Insurance Review Exam Questions & Answers Graded A+
Subrogation Clause- - ANSWER-The insured cannot claim money from both the insurer and a 3rd party. If the insured receives compensation for loss from the insurer, and sues the 3rd party (or 3rd party's insurer) for additional funds, the insurer has the right to all funds in order to recoup their costs. Characteristics of Insurance Contracts- - ANSWER-"Adhesion: insurance policy is take it or leave it. No negotiations over terms an conditions. This means ambiguities in contract are found...
- Exam (elaborations)
- • 21 pages •
Subrogation Clause- - ANSWER-The insured cannot claim money from both the insurer and a 3rd party. If the insured receives compensation for loss from the insurer, and sues the 3rd party (or 3rd party's insurer) for additional funds, the insurer has the right to all funds in order to recoup their costs. Characteristics of Insurance Contracts- - ANSWER-"Adhesion: insurance policy is take it or leave it. No negotiations over terms an conditions. This means ambiguities in contract are found...
CFP - General Principles Exam Questions With Verified Answers
Which of the following would be the most recommended method of implementing a savings plan? a. pay all your expenses first, including credit cards, then deposit the remainder in a money market account b. simply wait until the end of the month and see if any money is left over c. deposit a fixed or specific amount from a paycheck into a savings or money market account. d. complete a one-year budget, then see if the client can save money - ANSWER-deposit a fixed or specific amount from a pa...
- Exam (elaborations)
- • 44 pages •
Which of the following would be the most recommended method of implementing a savings plan? a. pay all your expenses first, including credit cards, then deposit the remainder in a money market account b. simply wait until the end of the month and see if any money is left over c. deposit a fixed or specific amount from a paycheck into a savings or money market account. d. complete a one-year budget, then see if the client can save money - ANSWER-deposit a fixed or specific amount from a pa...
CFP Fundamentals final review questions with rationales Answers
Robert Smith asks for your help in preparing his cash flow statement. He tells you that his salary before taxes is $250,000 and that he has NO mortgage on his home. Which of the following statements is true about Robert's cash flow statement? The value of the home would be an income source, since there is NO mortgage. The value of the home would be an asset. The taxes on his salary would be a liability. The taxes on his salary would be an expense. - ANSWER-The correct answer is D. Option...
- Exam (elaborations)
- • 35 pages •
Robert Smith asks for your help in preparing his cash flow statement. He tells you that his salary before taxes is $250,000 and that he has NO mortgage on his home. Which of the following statements is true about Robert's cash flow statement? The value of the home would be an income source, since there is NO mortgage. The value of the home would be an asset. The taxes on his salary would be a liability. The taxes on his salary would be an expense. - ANSWER-The correct answer is D. Option...
CFP Exam 2024 Questions With Complete Solutions
Dividend Discount Model - ANSWER-V = Next period's dividend / (req. rate of return - dividend growth rate) (on formula sheet) next div = current div(1+growth rate) Expected Rate of Return - ANSWER-Rate of Return = (Next period's dividend / market price) + dividend growth rate Net Present Value NPV - ANSWER-PV of CF - Initial Cost positive = invest 0 = invest negative = do not invest Holding Period Return HPR - ANSWER-(Selling Price - Purchase Price +/- CF) / Purchase price o...
- Exam (elaborations)
- • 15 pages •
Dividend Discount Model - ANSWER-V = Next period's dividend / (req. rate of return - dividend growth rate) (on formula sheet) next div = current div(1+growth rate) Expected Rate of Return - ANSWER-Rate of Return = (Next period's dividend / market price) + dividend growth rate Net Present Value NPV - ANSWER-PV of CF - Initial Cost positive = invest 0 = invest negative = do not invest Holding Period Return HPR - ANSWER-(Selling Price - Purchase Price +/- CF) / Purchase price o...
CFP Exam Questions With 100% Correct Answers
MSFT declared a dividend payable to shareholders on the record date of Wed. May 15th. Which is the last possible date an investor could purchase the stock and still receive the dividend? A. purchased on May 13th B. purchased on May 12th C. purchased on May 11th D. purchased on May 10th - ANSWER-D. May 10th. Ex dividend date would be Monday the 13th, and in order to receive the dividend the investor would have to purchase prior to the ex-dividend date. Since the 13th is a Monday the la...
- Exam (elaborations)
- • 12 pages •
MSFT declared a dividend payable to shareholders on the record date of Wed. May 15th. Which is the last possible date an investor could purchase the stock and still receive the dividend? A. purchased on May 13th B. purchased on May 12th C. purchased on May 11th D. purchased on May 10th - ANSWER-D. May 10th. Ex dividend date would be Monday the 13th, and in order to receive the dividend the investor would have to purchase prior to the ex-dividend date. Since the 13th is a Monday the la...
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