Human Rights & Fair Housing

Question 1

Real Estate Settlement Procedures Act (RESPA)

Answer 1

Passed in 1974

Eliminates kickbacks and referral fees that increase the cost of settlement services.

Question 2

Truth in Lending Act (TILA)
AKA: Regulation Z
Annual % Rate

Answer 2

Passed in 1968

Designated to promote the informed use of consumer credit. Costs associated with borrowing are calculated and disclosed.

Question 3

Redlining

Answer 3

Refusal to lend money

Question 4

HO-1

Answer 4

Insures home against perils, INCLUDING fire, theft, and vandalism.

Question 5

HO-3

Answer 5

covers homes for all risks of physical loss EXCEPT natural disaster

Question 6

HO-4

Answer 6

Renters insurance for home, apartment, condo, co-op.

Question 7

HO-6

Answer 7

Insures damages for apartments, condos, co-op

Question 8

Commercial General Liability Insurance (CGL)

Answer 8

Covers 4 injuries:

1. Bodily
2. Property Damage
3. Personal Injury
4. Advertising injury

Purchased by landlords for rental properties

Question 9

New York Property Insurance Underwriting Association (NY PIUA)

Answer 9

Insurance Coverage for

1. Fire
2. Theft
3. Sprinkler leakage

Question 10

Civil Rights Act of 1866

Answer 10

• Citizens have the same rights to inherit, buy, sell, or lease personal property
• Primarily interpreted to prohibit racial discrimination

Question 11

Civil Rights Act of 1968

Answer 11

Protects class of race, color, religion, and national origin

Question 12

Housing and Community Development Act of 1974

Answer 12

Added SEX as a protected class

Question 13

1988 Amendment of the Civil Rights Act

Answer 13

added two new protected classes:
1- persons with mental or physical disabilities
2- familial status

Question 14

Sherman Anti-Trust Act

Answer 14

made the following actions illegal
1- Price Fixing
2- Group Boycotts
3- Market Allocation
4- Tie-in Arrangements