Mandated Disclosures Exam Questions
Mandated Disclosures covers the legally required information that sellers, buyers, and agents must provide during a real estate transaction, including property condition disclosures, lead-based paint disclosures, and natural hazard disclosures. Although it carries a lower exam weight at 6%, this topic offers relatively straightforward questions that represent easy scoring opportunities for well-prepared candidates. The most frequently tested area is the federal Lead-Based Paint Disclosure requirement for homes built before 1978, along with the concept of "material facts" that must be disclosed regardless of whether a property is sold "as-is." State-specific disclosure forms and timing requirements also appear, so understanding the general framework is essential even if your state has unique rules.
What You Need to Know About Mandated Disclosures
Mandated Disclosures covers the legally required information that sellers and agents must provide to buyers during a real estate transaction. While this topic carries a lower exam weight at 6%, the questions tend to be straightforward, making it an excellent area to score easy points.
The most important federal disclosure requirement is the Lead-Based Paint Disclosure for homes built before 1978. Sellers must disclose known lead paint hazards, provide the EPA pamphlet "Protect Your Family from Lead in Your Home," and give buyers 10 days to conduct a lead inspection. This applies to all residential sales and leases of pre-1978 housing, with limited exemptions.
Beyond lead paint, agents must disclose all known material facts — any information that could affect the buyer's decision to purchase or the price they would offer. Even in "as-is" sales, disclosure obligations remain. Many states have specific disclosure forms covering property conditions, natural hazards, environmental hazards, and neighborhood conditions. Know your state's requirements, including timing deadlines for providing disclosures.
- Lead paint disclosure applies to ALL residential properties built before 1978
- Buyers get 10 days for lead inspection — this is a federal requirement
- "As-is" does NOT eliminate disclosure obligations
- Agents must disclose known material facts even if the seller doesn't want them to
Sample Disclosures Questions
200+ in bankThe Truth in Lending Act (TILA) requires disclosure of:
Which disclosure is required under the Real Estate Settlement Procedures Act (RESPA)?
Which federal law requires disclosure of known lead-based paint hazards in residential properties built before 1978?
A seller's agent who is aware of a material defect that the seller has not disclosed should:
For properties built before 1978, buyers must be given how many days to conduct a lead-based paint inspection?
What property requires Texas Seller's Disclosure?
Environmental hazard disclosures may include information about:
Property disclosure forms should be completed:
The buyer's right to receive disclosures typically includes:
Water intrusion or past flooding must be disclosed:
Megan's Law disclosures relate to:
The purpose of property disclosure requirements is to:
The doctrine of 'caveat emptor' (buyer beware) has been largely replaced by:
The majority of homes built before _____ used lead paint.
Lead-based paint disclosure is required for residential properties built before:
Frequently Asked Questions
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