SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (20, Exams of International Finance and Trade

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SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers fee simple - correct answer estate without limitations with the exception of government powers government powers - correct answer eminent domain, police power, taxation, and escheat life estate - correct answer estate in land; at death of tenant, all right, title, and interest in the property passes to remainder interest or reversionary interest remainder interest - correct answer the person who is entitled to the estate after the life estate has ended reversionary interest - correct answer the grantor of the life estate easement - correct answer non-possessory interest one has in property of another; by definition, must be across land of another and is extinguished through merger SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers lease - correct answer an estate in land; two estates are created with a lease: leased fee and leasehold leased fee - correct answer the lessors right o receive consideration, usually rent, and the right to recapture the real estate at the end of the lease term leasehold - correct answer the lessees right to possess and quietly enjoy the real estate for the lease term right of way - correct answer usually an easement, but takes cues from precedence license - correct answer personal privilege to do some act on the property of another; generally revocable at the will of the licensor; and is not transferrable permit - correct answer usually issued by government entities; grants permission to occupy (and possibly construct) within public right of way; a permit is a form of license SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers agency agreement - correct answer one person or entity authorizes another to act on their behalf; power of attorney is common method tort - correct answer injury to person for which another person who caused the injury is legally responsible real estate torts - correct answer include occupier liability, attractive nuisance, nuisance, trespass, hazardous activities, and misrepresentation/fraud abstract of title - correct answer chronological compilation of conveyances, court actions, and other facts affecting title to a specific tract of land owner in severalty - correct answer opposite of what you'd expect; an individual estate whose ownership an control is enjoyed by a person, free from any rights or control of another SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers concurrent or collective estate - correct answer estate whose ownership or control is enjoyed by more than one person or entity joint tenancy - correct answer estate in which two or more parties hold equal and simultaneously created interests in the same property and in which title to the entire property is to remain to the survivors upon death of one of them, and so one to the last survivor tenancy in common - correct answer estate in which two or more parties share ownership of property but have no right to each other's interest community property - correct answer need two signatures as each holds an undivided one-half interest quitclaim deed - correct answer a deed that grants whatever title or interest without any warranty as to the title; does not convey title obtained after quitclaim is signed SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers general warranty or grant deed - correct answer a deed whereby grantor will defend title against any and all demands or claims; implied warranty if not stated bargain or sale deed - correct answer conveys title even if obtained after deed is signed trust deed - correct answer in California in lieu of mortgage; trustee holds title for beneficiary (lender) but property considered still owned by trustor (borrower), conveyed to trustee valid deed - correct answer written, competent grantor, named grantor and grantee, grantor's signature, word o conveyance (granting clause), consideration statement; adequate legal description, delivery to and acceptance by grantee, grantee's agent, or escrow (recordation okay but not required), and notarial acknowledgement or witness signature and seal encumbrance - correct answer two categories: 1. liens, and 2. rights SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers existing and proposed features - correct answer proposed right of way or elevation is shown as solid lines, while existing elevation or right of way is shown as dashed lines in three views stations - correct answer generally 100 foot distance interval between stations offset - correct answer perpendicular distance left or right from centerline to a feature; identify distance, direction, and station PI - correct answer point of intersection delta - correct answer deflection angle PT - correct answer point of tangent/tangency PC - correct answer point of curve SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers simple curve - correct answer segment of circle with specific radius reverse curve - correct answer two adjacent simple curves with one curve in reverse direction to the other PRC - correct answer point of reverse curve compound curve - correct answer two adjacent simple curves each having different radius, turning in same direction PCC - correct answer point of compound curve spiral curve - correct answer transition curve between a tangent and a simple curve and is an arc with constantly increasing or decreasing radius vertical curve - correct answer curved part of profile and is in the firm of an arc of a parabola; the part of a vertical curve is a crest and sag SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers contour - correct answer imaginary line of constant elevation on the ground surface, indicating shape and slope of land surface contour interval - correct answer the vertical distance between each contour line contour points - correct answer points upstream profile grade - correct answer rise over run expressed as a percentage bearings - correct answer angular deflection from north or south in degrees, minutes, and seconds, as measured from north or south, and towards east or west one acre - correct answer 43,560 square feet one section - correct answer one square miles, 640 acres SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers centerline description - correct answer used principally by utility companies for uniform width applicable to strip parcels acquired either fee or easement last descriptor - correct answer in lot and block, it identifies the book and page in which courthouse; in PLSS, it identifies principal baseline and meridian system environment - correct answer EPA defines its as to include the natural and physical environment and the relationship of people with the environment clean water act - correct answer federal act interpreted by states; cornerstone of surface water quality protection for the integrity of nation's waters wetlands - correct answer areas that are inundated or saturated by surface or groundwater ...support ...vegetation typically adapted for life in saturated soil conditions SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers threatened species - correct answer any species likely to become endangered in forseable future throughout all or a significant portion of its range endangered species - correct answer any species in danger of extinction through all or a significant portion of its range clean air act - correct answer protect public from exposure to airborne contaminants (common pollutants) known to be hazardous to health NEPA - correct answer one of the most significant environmental legislation to minimize adverse environmental impacts and to preserve and enhance human environment through integrated and systematic approach CERCLA - correct answer superfund law; tax on petroleum and chemical industries and provided federal authority to respond to hazardous releases SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers Uniform Act - correct answer provides protections and assistance for people affected by federally funded projects ecology - correct answer scientific study of interrelationships between living organisms and their environment ecosystem - correct answer grouping of plants, animals, and microbes interacting successfully with each other and their environment; comprised of species and communities species - correct answer number of plants or animals, all of which have a high degree of similarity and which can be interbred community - correct answer interacting population of various species; between ecosystem are transitional areas and transitional species SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers location and environment - correct answer defining and evaluating alternatives, estimating project costs, determining schedule, identifying environmental impacts, preparing conceptual stage relocation plan, preparing draft design report design - correct answer design will incorporate commitments (mitigation measures) right of way - correct answer acquisition and appraisal, relocation, short term property management contract letting - correct answer authorization to advertise the project for construction bids construction - correct answer project is awarded operation and maintenance - correct answer continued maintenance for mitigation measures SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers Mitigation techniques - correct answer physical, staged, timed, scope-related physical mitigation - correct answer mitigation measures constructed, such as drainage, barriers, etc. timed mitigation - correct answer timing construction to avoid or minimize impact such as construction hours, seasons staged mitigation - correct answer staging into segments to minimize district, service, or neighborhood disruptions scope-related mitigation - correct answer redesign to avoid or minimize real estate - correct answer physical land and appurtances to the land SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers real property - correct answer all the rights, interests, and benefits inherent in the ownership of real estate; it is the bundle of rights fixtures - correct answer items that once were personal property but have since been permanently attached to the real estate fixture tests - correct answer include method of attachment, intent of parties, and adaptation of item to the real estate trade fixtures - correct answer for tenant occupied space, personal property no matter how they are affixed appraisal - correct answer the act or process of developing an opinion of value market value - correct answer a type of value with conditions that generally include the relationship, knowledge and motivation of the parties, terms of the sale, and conditions of sale SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers depreciation - correct answer loss in value from any and all causes, including physical deterioration, functional obsolescence, and external obsolescence age-life method - correct answer method of depreciation using a percentage from effective age / total economic life units of comparison - correct answer relevant unit dollars by which to compare properties, such as price per square foot, price per bedroom, etc larger parcel - correct answer the tract or tracts of land that have unity of ownership, same or integrated highest and best use; tests include unity of title, use, and proximity damages - correct answer loss in value to the remainder from project benefits - correct answer increase in value to the remainder SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers state (summation) method/rule - correct answer method to value partial acquisitions, includes offset of damages when benefits are also determined federal method/rule - correct answer method to value partial acquisitions, includes offset of damages and acquisition area when benefits are also determined partial acquisition - correct answer all easements are partial acquisitions, but not all partial acquisitions relate to easements easement value - correct answer measured by what property owner lost from bundle of rights, not what condemnor has gained contractual fraud - correct answer occurs when a misrepresentations made that is relied upon by one party to his detriment SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers administrator's deed - correct answer transfers property when the property owner dies without a will executor's deed - correct answer transfers property when the property owner dies with a will easement by necessity - correct answer most common example of when a landlocked property can gain access with right of way over adjacent property power of eminent domain - correct answer delegated by legislative branch of government datum - correct answer known monument benchmarks - correct answer points of known elevation metes and bounds - correct answer description must close SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers credibility - correct answer the quality of inspiring belief empathy - correct answer seeing the world as others see it; ability to be sensitive to an vicariously experiencing the feelings of someone else; understanding integrity - correct answer adherence to a moral code ethics - correct answer moral principles or values to which we adhere patience - correct answer not being hasty or impetuous characteristics of successful negotiator - correct answer include credibility, courage, empathy, integrity, ethics, patience courage - correct answer strength to withstand danger, fear, or difficulty SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers communication - correct answer sending and receiving of a message, with the process including verbal and non- verbal signals, paralanguage, and proxemics verbal signals - correct answer words, word choice, word difficulty, grammar, syntax, contextual meaning, jargon, loaded words, common usage, etc kinesics - correct answer non verbal signals relating to eye contact, facial expressions, posture, stance, dress, mannerisms, muscle tension, relaxation, breathing, actions para-language - correct answer volume, accents, rhythm, inflections, timbre, tone, non-words proxemics - correct answer non verbal signals relating to physical distances, environmental arrangements listening - correct answer the most important communication skill SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers types of listening - correct answer active, critical, and empathetic active listening - correct answer listening energetically and attentively empathetic listening - correct answer listening for understanding and providing appropriate feedback to show sensitivity to property owner's feelings, thought, experiences critical listening - correct answer listening for identification underlying beliefs, attitudes, values, and assumptions; to separate fact from opinion and to understand content and structure of property owner's message primary question - correct answer the first question on a topic; asking good questions is important in negotiation SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers mental set - correct answer how the parties in the acquisition are predisposed to what they expect rapport - correct answer relationship marked by harmony, conformity, or accord use of non-verbal communication - correct answer make sure non-verbal signals are congruent with verbal signals use of visual aids - correct answer be careful to use only if will help simplify or illustrate, and speaks to issue at hand characteristics of a defensive climate - correct answer evaluating the receiver, controlling the receiver, strategizing and posturing, emotionally neutral or isolated, advancing oneself characteristics of a supportive climate - correct answer describing an event, orienting the person to the problem, SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers spontaneity, empathetically supportive, advancing the process preparation - correct answer time and thoroughness differentiates effective negotiators from less effective ones funnel technique - correct answer approach to negotiation that assumes success if communication proceeds from more general topics to those that are more specific, and from areas of agreement to less aggregable; five steps include 1. information getting, 2. information giving, 3.problem census, 4. problem solving, and 5. closing conflict - correct answer a disagreement or collision in wants, needs, beliefs, opinions, etc with an emphasis on process rather than outcome conflict management styles - correct answer avoidance (withdrawing), accommodation (smoothing), competition (power), compromise (sharing), integration (problem solving) SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers binding arbitration - correct answer resolution of a conflict by the decision of a third party alternative dispute resolution - correct answer use of a neutral third party to help resolve a dispute by mediation mediation - correct answer use of a facilitator for problem solving arbitration - correct answer can be binding or non- binding charismatic power/authority - correct answer the ability of a person to capture the imagination or to inspire support or devotion expertise power/authority - correct answer results from a person having specialized skills or knowledge SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers property inventory - correct answer a database of the organization's properties with specific information on each parcel; a necessary tool to control, monitor, market and dispose of real estate and real property rights property inventory system - correct answer key question in inventory system is "does it meet organization's objectives?"; system includes information such as acquisition information, property characteristics, maps, photographs, uses, leases, inspection schedules and records, licenses, rights, etc effective property management system - correct answer includes user friendly, compatible with other systems, contain meaningful cross-references, increases staff efficiency, provide for off-site storage, allow for system growth, cost effective, etc optimization - correct answer maximization of the use of or return from real estate asset, including maximization of the asset's relevance to present and future business needs; includes the decision to hold, sell or lease SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers advantages to hold decision - correct answer future flexibility, maximum control and potential of value appreciation advantages to lease decision - correct answer receipt of periodic payments, future flexibility and benefits of value appreciation advantages to sell decision - correct answer transfer of liability and immediate monies secondary use - correct answer organization-acquired property that allows for others to also use, provided that there are no conflicts with the primary use joint use - correct answer two or more organizations using jointly acquired property, which provides for shared costs and responsibilities SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers airspace - correct answer the space located above and/or below a transportation facility's horizontal limits of the approved right of way or project boundaries air rights - correct answer the real property interests defined by agreement and conveyed by permit, lease, or deed for the use of airspace surplus property procedure - correct answer 1. prepare surplus property package, 2. notify and obtain approval from all pertinent agency groups, 3. notify and obtain approval from all pertinent external groups, 4. determine to whom the surplus property can be sold, 5. obtain appraisal, 6. determine sales method, 7. evaluate offers, 8. prepare final disposal package for signatures, 9. transfer the property, 10. update property inventory trading property or property rights - correct answer maybe feasible if organization's budget is limited; advantages include taxes; disadvantages include difficulties due to unequal values SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers code of ethics - correct answer rules and standards predicated on truth, justice and fair play standards of practice - correct answer written procedures that guide a person or group in conduct IRWA Ethical Rule No. 1 - correct answer Conduct IRWA Ethical Rule No. 2 - correct answer Assist the association IRWA Ethical Rule No. 3 - correct answer advertising IRWA Ethical Rule No. 4 - correct answer confidentiality IRWA Ethical Rule No. 5 - correct answer fees IRWA Ethical Rule No. 6 - correct answer Professional relationships SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers IRWA Ethical Rule No. 7 - correct answer handling funds IRWA Ethical Rule No. 8 - correct answer public office IRWA Ethical Rule No. 9 - correct answer USPAP IRWA Ethical Rule No. 10 - correct answer Allied organizations and licensing agencies IRWA Standard One - correct answer Quality of service IRWA Standard Two - correct answer Full disclosure IRWA Standard Three - correct answer Fair and reasonable fees IRWA Standard Four - correct answer Confidential information SR/WA Exam Review Terms from the International Right of Way Association Review Seminar (2014 update) - excludes relocation Questions And Answers IRWA Standard Five - correct answer Advertising and promotional practices IRWA Standard Six - correct answer Laws and Conduct of Business IRWA Standard Seven - correct answer Good citizenship IRWA Standard Eight - correct answer Relationships: employee/employer and client/former client IRWA reprimand - correct answer serious written warning calling the attention of the Respondent to a violation of the Ethics Rule IRWA suspension - correct answer temporary revocation of the rights and privileges of membership in the Association, or if not a member, a temporary revocation of any credentials granted to the non-member of the Association; two-year maximum