Practice

Question 1

Civil Rights Act of 1968

Answer 1

prohibited discrimination in housing based on national origin, race, religion, and color. (Sexual discrimination was added in 1974.) The act prohibits steering, blockbusting, and redlining.

Question 2

Steering

Answer 2

the act of directing people of different races, religions, et cetera, away from or toward particular areas

Question 3

Blockbusting

Answer 3

the process of inducing panic selling by representing that prices will drop or crime will increase because of the possible entrance of minority group members to the area

Question 4

Redlining

Answer 4

the refusal to loan within an area

Question 5

1988 Fair Housing Amendments

Answer 5

extended protection in regard to familial status and the handicapped

Question 6

Americans with Disabilities Act

Answer 6

prohibits discrimination based on an individual’s physical or mental disabilities.

Question 7

Equal Credit Opportunity Act

Answer 7

prohibits credit discrimination because of sex, marital status, age, race, religion, national origin, or because the income of a credit applicant is from public assistance

Question 8

Unruh Act

Answer 8

prohibits discrimination based on sex, race, color, religion, ancestry, national origin, disability, medical condition, marital status, familial status, and sexual orientation in all business establishments

Question 9

Rumford Fair Housing Act

Answer 9

prohibits discrimination in supplying housing accommodations on the basis of sex, color, race, religion, marital status, family status, sexual orientation, disability, source of income, ancestry, or national origin. Anyone selling, renting, leasing, or financing housing must comply with the Rumford Act

Question 10

Holden Act (Housing Financial Discrimination Act of 1977)

Answer 10

prohibits financial institutions from engaging in discriminatory loan activities or practices. Activities covered under this act include awarding building, improvement, purchase, or refinancing loans using the criteria of race, color, national origin, ancestry, sex, religion, or marital status

Question 11

California Omnibus Housing Nondiscrimination Act

Answer 11

makes all California’s nondiscrimination acts consistent with the California Fair Employment and Housing Act as to coverage. All the acts apply to discrimination on the basis of national origin, ancestry, race, color, gender, religion, marital status, familial status, disability, source of income, and sexual orientation.

Question 12

Sherman Antitrust Act

Answer 12

to protect consumers from businesses that conspired to control prices and/or competition. (price fixing, market allocation, group boycotting, tie-in agreements)

Question 13

Real Estate Settlement Procedures Act (RESPA

Answer 13

prohibits kickbacks from service providers to brokers

Question 14

Trust funds

Answer 14

refer to money or anything of value received by an agent, but not belonging to the agent, and held for the benefit of another. When a broker receives funds for a transaction, the broker must, within three days of receipt of the funds, do one of the following:

• Give the funds to the principal.
• Deposit the funds directly into escrow.
• Place the funds in the broker’s trust account. (A broker who does not receive funds in trust does not need to have a trust account.)

Question 15

Commingling

Answer 15

mixing of property of another (trust funds) with property of the broker. Holding the funds without authorization.

Question 16

Conversion

Answer 16

when a broker misappropriate trust funds for personal or any other use than what was desiginated.