New RPA Quiz
New RPA Quiz
Test your knowledge of the new Real Property Assessment (RPA) with our engaging quiz! Whether you're a seasoned professional or just starting out, this quiz covers essential topics to help you stay informed.
- Understand contingencies and disclosures
- Learn the key changes in the new RPA
- Enhance your real estate knowledge
All negotiated items in the contract are located in what paragraph?
Paragraph 1
Paragraph 2
Paragraph 3
How many contingencies are there in total?
8
5
3
What 2 contingencies can be removed with the contract?
Investigation & Appraisal
Loan & investigation
Appraisal & loan
Contingencies are:
Business days
Calendar days
What is the default number of days for contingencies?
10
17
21
If seller delivers a tardy disclosure the buyer has ____ additional days to review or until investigation CR is due, whichever is later.
3
5
7
How many pages are in the new RPA?
10
16
20
Can you waive a statutory disclosure? (example TDS)
Yes
No
If seller remains in possession for more than 29 days what form is required?
Seller in possession (SIP)
Residential lease after sale (RLAS)
If you submit an offer on a property listed with ehomes it is considered a dual agency?
Yes
No
The seller has ____ days to deliver statutory disclosures to the buyer.
3
5
7
Water conserving fixtures are typically installed on properties built after_____.
1992
1994
1996
Allocation of costs determines who will pay.
True
False
Escrow packages need to be completed and returned to escrow within ____ days?
5
7
10
The contract defaults to primary occupancy type. What 2 other occupancy types were added to the contract?
Secondary & Investment
Primary & Special
A new form for tenant occupied properties will now be used in place of TIP (Tenant in Possession) . What is this new form? (hint, located in paragraph3 section M(3) of the contract)
FUBU- For You By Us
TOPA- Tenant Occupied Property Addendum
The Lead Based Paint disclosure is required on properties built in _____or prior.
1978
1979
1980
The mobile home purchase agreement and probate purchase agreement will no longer exist and addenda attached to RPA will be used instead.
True
False
When a Notice to Perform is delivered, how many days until that applicable contingency needs to be removed?
1
2
3
Seller needs to install smoke detectors, co. detectors & brace water heater within 7 days?
True
False
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