Mandatory Federal & State Disclosures in Real Estate

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following disclosures is required by the federal government in real estate transactions?

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1. What does a 100 year floodplain mean in terms of flood risk for a property?

2. What is the name of the federally mandated pamphlet that must be given to renters and buyers of homes built before 1978?

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About This Quiz & Worksheet

Buying a home can be stressful, but open communication about how the house is built can lead to a smoother, more trusting process. This quiz and worksheet will check your knowledge of what things a seller must inform a buyer of before a sale closes.

Quiz & Worksheet Goals

This quiz and worksheet will cover the following:

  • What disclosure is required by the federal government
  • The meaning of a 100 year floodplain
  • What federally mandated pamphlet is required for renters and buyers of homes built before 1978
  • When asbestos is most dangerous
  • What wetlands mean in a real estate context

Skills Practiced

These assessments require the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on real estate disclosures
  • Interpreting information - verify that you can read information regarding lead use in homes and interpret it correctly
  • Information recall - access the knowledge you've gained regarding hundred year floodplains and wetlands

Additional Learning

It's impossible to know everything that will go wrong with a home before you buy it, but real estate disclosures give buyers some important information about what they can expect in the future. To learn more, review the lesson called Mandatory Federal & State Disclosures in Real Estate, which covers the following:

  • What effects lead can have on people
  • The purpose of asbestos and why it's no longer used
  • Who determines if something must be disclosed as part of a real estate transaction
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