medium · National Real Estate Exam disclosures

A seller includes an 'as-is' clause in a contract for a home built in 1950.

Does this clause exempt the seller from the federal requirement to provide a lead-based paint disclosure?

  1. Yes, but only when the property is being sold to a licensed general building contractor.
  2. No, though the 'as-is' clause does limit the buyer's right to test for lead to a 24-hour window.
  3. No, federal law requires lead-based paint disclosures for pre-1978 housing regardless of contract terms.
  4. Yes, because the buyer has already agreed in writing to accept the property with all existing hazards present.

Sign up free to see the explanation and track your rank →

More National Real Estate Exam disclosures practice

KomFi Academy — Stop doomscrolling. Get KomFi.

Turn wasted screen time into verifiable competence.

KomFi Academy is a curated training platform with 75,000+ practice questions, 26,500+ flashcards, on-demand video lectures, podcasts, and 4K slide decks across the topics serious professionals study: GMAT, LSAT, MCAT, SAT, Investment Banking, Private Equity (LBOs & PE math), Private Credit, Quantitative Finance, Financial Accounting, Asset- Backed Securities, Volume Profile Analysis, Order Flow Trading, Market Microstructure, Volume Spread Analysis, Elliott Wave Theory, Volume-Price Analysis, and Public Offering Frameworks.

What's inside

Topics

View pricing · Read testimonials