Quiz Ch. 4-7

Question 1

A(n) _______ arises when a broker or their agent, acting on behalf of a client, has a competing professional or personal bias which hinders their ability to fulfill the fiduciary duties they have undertaken on behalf of their client.

Answer 1

conflict of interest

Question 2

A(n) _______ is a broker who simultaneously represents the best interest of opposing parties in a transaction, e.g., both the buyer and the seller.

Answer 2

dual agent

Question 3

When a dual agency is established in a one-to-four unit residential sales transaction the broker may not:

Answer 3

pass on confidential pricing information to the opposing parties.

Question 4

Funds belonging to others which a broker and their agents handle when acting in a transaction are called:

Answer 4

trust funds.

Question 5

A broker is required to regularly account to an owner on the status, expenditure and location of negotiable trust funds, called a(n):

Answer 5

owner’s statement.

Question 6

Regardless of race, all citizens of the United States have the right to rent residential and commercial real estate under the federal:

Answer 6

Civil Rights Act

Question 7

______ involves the restriction of a person seeking to buy or rent a dwelling in a community in a manner that perpetuates segregated housing patterns.

Answer 7

Steering

Question 8

A residential lnadlord may not induce or attempt to induce an individual to offer, or abstain from offering, a dwelling to prevent the entry of certain classes of people into the neighborhood, known as:

Answer 8

blockbusting.

Question 9

A(n) ______ is housing intended for and solely occupied by persons 62 years of age or older, or intended and operated for occupancy by persons of 55 years of age or older.

Answer 9

senior citizen housing project

Question 10

California’s Unruh Civil Rights Act specifically prohibits discrimination on behalf of:

Answer 10

businesses.