Chap 7 Flashcards
Which property is exempt from Title VIII of the Civil Rights Act of 1968?
A)
Multifamily dwelling of five or more units
B)
Three-unit dwelling in which the owner resides in one of the units
C)
Privately owned residential property offered for sale or lease through a real estate licensee
D)
Government-owned residential property
Three-unit dwelling in which the owner resides in one of the units
Title VIII of the Civil Rights Act (Fair Housing Act) exempts rentals in multifamily dwellings with four or fewer family units, provided the owner lives in one of the units. In this case, there are three units, and the owner resides in one of the units. Remember, however, that racial discrimination is illegal in any real estate transaction under federal law.
Under which circumstance is a landlord relieved from the requirement to place security deposits into a special rental account?
A)
Landlord posts a financial assets statement with the Securities and Exchange Commission.
B)
Landlord posts a surety bond with the clerk of the circuit court.
C)
Landlord has assets in excess of $1 million.
D)
Landlord files a statement of record with Florida Department of Business and Professional Regulation.
The answer is landlord posts a surety bond with the clerk of the circuit court. If the landlord posts a surety bond with the clerk of the circuit court in the county where the rental property is located, the landlord is not obligated to place the funds into a special account. The bond must be for the total amount of the security deposits and advance rents or $50,000, whichever is less. When posting a surety bond, the landlord must pay the tenant 5% per year simple interest.
The ADA’s definition of public accommodation does NOT include a
A) hotel. B) restaurant. C) shopping center. D) private home.
The answer is a private home. Public accommodations are facilities open to the public, including sales and rental establishments, hotels, restaurants, and shopping centers.
From which source can a broker obtain a copy of the equal housing opportunity poster for a new real estate office?
A) Department of Business and Professional Regulation B) Department of Housing and Urban Development C) Florida Realtors® D) Council on Fair Housing Administration
Department of Housing and Urban Development
A licensed sales associate collects rent from a tenant. The sales associate must
A)
deposit the rental money in the sale’s associate’s business account.
B)
deliver the rental money to the landlord and give the tenant a deposit receipt within 24 hours.
C)
deliver the rental money to the landlord within three business days.
D)
deliver the rental money to the employing broker by the end of the next business da
deliver the rental money to the employing broker by the end of the next business day
Which housing is exempt from the familial status protection under the Fair Housing Act?
A)
At least 80% of the units are occupied by one or more persons 55 years of age or older.
B)
At least 75% of the units are occupied by one or more persons 50 years of age or older.
C)
All units are occupied by persons 60 years of age or older.
D)
All the units are occupied by persons older than age 18.
The answer is at least 80% of the units are occupied by one or more persons 55 years of age or older. Certain housing for older persons is exempt from the familial status protection under the Fair Housing Act, provided all the units are occupied by persons 62 years of age or older, or at least 80% of the units are occupied by one or more persons 55 years of age or older.
If a landlord does not intend to make a claim on a tenant’s security deposit, how long does the landlord have to return the deposit?
A) 10 days B) 15 days C) 3 days D) 7 days
15 days
The Fair Housing Amendments Act of 1988 added which protected class to the Fair Housing Act?
A) Handicap status B) Sex C) National origin D) Religion
Handicap Status
In 1988, Congress amended the Fair Housing Act of 1968 to include two additional protected classes: familial status and handicap status.
Under ILSA, developers of 25 or more lots must provide buyers with
A) a disclosure regarding the right to cancel the contract within 14 days after signing the contract. B) the developer’s financial statement. C) a property report. D) proof of registration with the Bureau of Consumer Financial Protection.
The answer is a property report. Developers of 25 or more lots must provide buyers with a property report before signing the sale contract.
Which entity does NOT help enforce the Fair Housing Act?
A) State fair housing enforcement agencies B) Department of Housing and Urban Development C) Department of Justice D) Fannie Mae Explanation
The answer is Fannie Mae. Fair housing laws are enforced by the Department of Housing and Urban Development (HUD), the Department of Justice (DOJ), state and local fair housing enforcement agencies, and through private lawsuits in federal and state courts.
Which statement is TRUE regarding a racial discrimination case involving commercial real estate?
A)
The Civil Rights Act of 1968, which replaced the 1866 Civil Rights Act, does not protect against racial discrimination in nonresidential transactions.
B)
Racial discrimination in commercial transactions is not protected under the law because the Fair Housing Act pertains to residential real estate only.
C)
The Civil Rights Act of 1866, which is enforceable today, makes racial discrimination illegal in residential and nonresidential transactions.
D)
The Fair Housing Act, as amended in 1988, makes racial discrimination in nonresidential transactions illegal.
C)
The Civil Rights Act of 1866, which is enforceable today, makes racial discrimination illegal in residential and nonresidential transactions.
Housing for older persons is exempt from the familial status protection under the Fair Housing Act provided what percentage of the units are occupied by one or more persons 62 years of age or older?
A)
80%
B)
100%
C)
90%
D)
50%
B. 100%
The answer is 100%. Housing for older persons is exempt from the familial status protection under the Fair Housing Act, provided all units are occupied by persons 62 years of age or older.
