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Illinois Real Estate Broker Exam Truth in lending laws apply to which of the following loans? - Answer-A loan to a first-time home buyer To qualify as tax-deferred exchange, the property must be - Answer-held for productive use in trade or business A buyer wants a guarantee that there are no unknown encumbrances against the property he is buying. The buyer should require - Answer-Title Insurance John Jones has owned and operated a gas station for 15 years. The city has decided to rez...

Illinois Real Estate License Law IDFPR (Bureau of Real Estate Professions). - Answer-In Illinois, the real estate license law is administered by the? By the governor - Answer-How are the nine members of the Real Estate Administration and Disciplinary Board selected? Real Estate License Ace of 2000 - Answer-What is the name given to the Illinois license laws under which brokers and salespeople practice? Managing broker and broker - Answer-After May 1, 2011, the new license categories ...

Illinois Real Estate Exam In Illinois, the real estate license law is administered by the...? - Answer-IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? - Answer-By the governor What is the name given to the Illinois license laws under which brokers and salespeople practice? - Answer-Real Estate License Act of 2000 After May 1, 2011, the new license categories are: - Answer-Managing Broker and Broker ...

Illinois Real Estate Who can and cannot complete the property condition disclosure documents? - Answer-Disclosure documents must be completed by the seller, a family member (and signed by the seller), or seller's attorney or power of attorney. The licensee must never complete the disclosure forms. 2. What must a licensee do if he or she takes a listing on a home built prior to 1978? - Answer-The licensee must have the sellers fill out a disclosure form about their knowledge or lack of kno...

Illinois Real Estate Practice Exam Objectives of Federal Reserve System - Answer-To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - Answer-A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second estate is called A prope...

Final EL Underground Storage Tanks An underground storage tank (UST) system is a tank (or a combination of tanks) and connected underground piping having at least _____ percent of their combined volume underground. - Answer-ten percent The "tank system" includes the tank, underground connected piping, underground ancillary equipment, and any containment system. - Answer-True The federal UST regulations apply only to UST systems storing either petroleum or certain hazardous substances....

Underground Storage Tanks UST by definition includes both tanks and piping systems that are under the surface of the ground by as little as: a. 80% b. 50% c. 25% d. 10% - Answer-Answer: D After the EPA passed the Renewable Fuel Standard rulemaking in 2010, they became concerned about existing UST systems because: a. Existing UST were not the appropriate capacity. b. Existing UST were not at the appropriate depth. c. Existing UST could not contain or detect leaks from new diesel addi...

Underground Storage Tanks Federal Regulation governing UST - Answer-40 CFR 280 API - Answer-American Petroleum Institute UST systems excluded from Federal and Viginia regulations - Answer-hazardous waste tanks wastewater treatement tanks part of facility UST 110 gallon or less Farm Heating Oil Tanks flow-through tanks UST partially deferred from regulatory requirements - Answer-radioactive material UST part of emergency generator at nuclear fac. airport hydrant fuel system fi...

LEED Green Associate Glossary 40/60 rule - Answer-A method used to choose the appropriate rating system for the project if the project seems to fit under multiple rating systems. Active daylighting - Answer-Is a system that tracks and collects the sunlight using mechanical devices, but they may not function well on cloudy days. Adapted plants - Answer-Types of plants that do not occur naturally in a specific location, however, they can nonetheless adapt easily to the climate of the regi...

GBES LEED Green Associate What are the Minimum Program Requirements (MPR) for a LEED project? - Answer-1. Must be in a permanent location on existing land 2. Must use a reasonable site boundary 3. Must comply with the project size requirements 1. to give clear guidance to customers 2. to protect the integrity of the LEED program 3. to reduce complications that occur during the LEED Certification process - Answer-Goals of MPRs related to ventilation, controlling air contaminant level...

LEED v4 Green Associate Exam LEED - Answer-Leadership in Environmental Energy and Design -Preeminent program for the design, construction, maintenance , and operation of high-performance green buildings. Triple Bottom Line - Answer-People, Planet, Profit Lean - Answer-Improving a process through elimination of waste. Terms required to be written a specific way due to trademarks. - Answer--U.S. Green Building Council -USGBC -LEED Green Associate -LEED AP LEED Green Associate ...

LEED Green Associate Sample Exam Questions What rules should be used when selecting a LEED rating system when more than one system may apply? - Answer-40/60 Use the rating system that is most applicable To verify the compliance of a credit or prerequisite, a qualified member of the project team submits this - Answer-Credit Forms This source consumes the largest amount of energy in buildings - Answer-Space Heating Legal protection of the ozone layer in the US is provided by this - An...

LEED Green Associate Practice Questions Right sizing is an important factor that will affect the energy demand of a project. The bigger the building, the higher the energy demand; therefore, projects should not be developed larger than their needs. In the LEED for Homes rating system, points are adjusted in all catefories according to the square footage of the home; thus, homes that are bigger need to earn more points to achieve a LEED certification, while smaller sized homes can become LEED-...

Guide to the LEED Green Associate Exam How many types of credentials for LEED AP with Specialty are available? (Choose 1) A. 5 B. 6 C. 3 D. 4 E. 2 - Answer-A Is it possible to site for the LEED Green Associate exam and the LEED AP ID+C exam in one day? A. Yes B. No - Answer-A Is LEED project experience needed in order to sit for the LEED Ap O+M exam? A. Yes B. No - Answer-A Where should you go to receive the most up-to-date information on the LEED rating systems? (Choo...

LEED GA v4 List the credit categories - Answer- Integrative approach sustainable sites water efficiency energy and atmosphere indoor air quality location and transportation material and resources innnovation regional priority LEED's system goals are referred to as ________ - Answer- Impact Categories What are the 7 impact categories with their weights - Answer- -Weighting of the LEED v4 impact categories 35% Climate change 20% Human health 15% Water resources 10% Biodive...

LEED Green Associate: Practice Exam #1 & Terms Biodegradable - Answer-Capable of decomposing under natural conditions. Carbon Footprint - Answer-A measure of greenhouse gas emissions associated with an activity. Ecosystem - Answer-A basic unit of nature that includes a community of organisms and their nonliving environment linked by biological, chemical, and physical processes. Environmental Sustainability - Answer-Long term maintenance of ecosystem components and functions for futur...

LEED Green Associate Exam What are the three tiers of LEED AP designation? - Answer-LEED Green Associate LEED AP with Specialty LEED AP Fellow What are the five AP specialty designations? - Answer-BD&C (Building Design and Construction) ID&C (Interior Design and Construction) O&M (Operations and Maintenance) Homes ND (Neighborhood Development) Describe the responsibilities of GBCI and USGBC with respect to LEED. - Answer-GBCI-Administers the LEED credentials, oversees evaluation o...

SIE Study Set Final Order of Asset Distribution upon Liquidation - Answer- 1) Taxes 2) Secured Debt 3) Unsecured Debt 4) Preferred Stockholder 5) Common Stockholders Round lot Unit of trading - Answer- 100 shares Cyclical Stock - Answer- Heavily affected by economic cycles Ex) Auto manuf or Steel companies Non-Cyclical/Defensive Stocks - Answer- Sheltered from normal business/economic cycles ex) Tobacco, people still smoke regardless of economy Counter Cyclic...

FINRA SIE Exam If interest Rates fall the issuer will most likely call which bonds first? - Answer- High Dividend Rate preferred issues trading at a premium What are some actions by a corporation will affect an individuals common shareholder's equity - Answer- Conversion of convertible preferred stocks or bond Repurchase of common shares Issuance of additional common shares (Stock splits do not effect shareholders equity but it must be voted on because it effects Par Value)...

SIE Multiple Choice Which of the following items is not reported on a company's income statement? A. Operating Expenses B. Corporate Sales C. Declaration of a cash dividend to stock holders D. Income net of expenses and interests paid to bondholders - Answer- C. Declaration of a cash dividend to stock holders ____________ allows an issuer to sell securities multiple times using the same registration statement. - Answer- Shelf Registration In connection with the solicitati...