Quizzes Prep Agent

Question 1

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 1

Dual agent

Question 2

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

Answer 2

pass on confidential pricing information to the opposing parties.

Question 3

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

Answer 3

Trust funds

Question 4

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

Answer 4

Owner’s statement

Question 5

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

Answer 5

Civil Rights Act.

Question 6

_________ 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 6

Steering

Question 7

A residential landlord 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 7

Blockbusting

Question 8

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 8

senior citizen housing project

Question 9

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

Answer 9

businesses

Question 10

California anti-discrimination law is enforced by the Department of Fair Employment and Housing and the:

Answer 10

Fair Employment and Housing Commission.

Question 11

Until __________ was added to the anti-discrimination laws in 1992, it was legal to exclude minors under the age of 18 from housing accommodations.

Answer 11

familial status

Question 12

__________ practices are those which are not openly discriminatory, but result in discriminatory effects.

Answer 12

Implicit discriminatory

Question 13

Failing to provide financing in certain communities is called:

Answer 13

redlining

Question 14

The __________ is a 1974 federal enactment prohibiting lenders from discriminating against borrowers from a protected class

Answer 14

Equal Credit Opportunity Act

Question 15

A lender may lawfully consider ___________ when determining the applicant’s creditworthiness.

Answer 15

a mortgage applicant’s age

Question 16

Consumers may request a free copy of their credit report _________ to review it for errors.

Answer 16

once every year

Question 17

The __________ requires lenders to compile and submit their home loan origination data to their respective supervisory agencies.

Answer 17

Home Mortgage Disclosure Act (HMDA)

Question 18

The printing or publishing of an advertisement for the sale or rental of residential property that indicates a wrongful discriminatory preference is a violation of the:

Answer 18

Federal Fair Housing Act (FFHA).

Question 19

The Department of Housing and Urban Development (HUD) issues guidelines that require real estate brokers selling or renting single family residences (SFRs) display a(n):

Answer 19

fair housing poster.