(7) Federal And State Laws Pertaining To Real Estate

Question 1

The Civil Rights Act Of 1968 specifically prohibits discrimination based on

Answer 1

1. Race 5.National Origin
2. Color 6. Handicap
3. Religion 7. Family Status
4. Sex

Question 2

Lenders that refuse to make loans in certain geographical areas based on social or economic considerations are practicing

Answer 2

Redlining

Question 3

A real estate licensee refuses to show properties in high-end neighborhoods to minority buyers. The licensee is engaged in which illegal practice

Answer 3

Steering/Channeling

Question 4

What term is used to describe the actions of a broker who induces an owner to list or sell on the basis that the neighborhood is deteriorating due to minority business

Answer 4

Blockbusting

Question 5

If a security deposit is held by a landlord, what is the landlord required to do

Answer 5

Return the funds within 15 days after the tenant vacates the premise or give notice within 30 days of the intention to impose a claim against the security deposit by certified

Question 6

A landlord who maintains advance rents and security deposits in a _____ _____ _____ ______ is not required to pay interest on the funds being held

Answer 6

Separate Non-Interest Bearing Account

Question 7

According to the Americans with Disabilities Act (ADA), owners are required to make modifications to properties to comply with the act whenever the modifications are ______

Answer 7

Economically Feasible

Question 8

When may a landlord commingle a tenant’s security deposit with other business funds

Answer 8

When the landlord posts a surety bond

Question 9

What 3 ways can you hold a security deposit

Answer 9

Non-interest bearing escrow acct

Interest bearing escrow acct

Post a surety bond with the clerk of the court