The Purpose of a Phase I Assessment as Defined by CERCLA

question 8

Multiple Choice

The purpose of a Phase I Assessment as defined by CERCLA is to

• A) determine if any prior use of the property would indicate the presence of environmental contamination
• B) examine the property for existing contamination only on the surface
• C) discover any existing contamination and determine methods of resolving the problem
• D) provide the landowner with absolute protection against any subsequent liability

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Definitions:

Regulatory License

An official permission or authorization granted by a governing body that allows an individual or company to conduct certain types of business.

Revenue License

A revenue license is an official permission or document that allows an individual or business to conduct certain activities, typically involving the sale of goods or services, where the license serves as a source of revenue for the issuing authority.

Usury Statute

Laws regulating the maximum interest rate that can be charged on loans, to protect borrowers from excessively high rates.

Engaging

Captivating or holding someone's interest or attention.