Real Estate Principles: Q3/Chp 8-12

Question 1

1) California anti-discrimination law is enforced by the Department of Fair Employment and Housing and the:
A) Department of Business Oversight (DBO)
B) Fair Employment and Housing Commission.
C) Department of Housing and Urban Development (HUD).
D) Fannie Mae.

Answer 1

B) Fair Employment and Housing Commission.

Question 2

2) Until \_\_\_\_\_\_ was added to the anti-discrimination laws in 1992, it was legal to exclude minors under the age of 18 from housing accommodations.
A) implicit discrimination
B) familial status
C) religious preference
D) senior citizen housing

Answer 2

B) familial status

Question 3

3) \_\_\_\_\_\_\_ practices are those which are not openly discriminatory, but result in discriminatory effects.
A) Overtly discriminatory
B) Harmlessly prejudiced
C) Conflict of interest
D) Implicit discriminatory

Answer 3

D) Implicit discriminatory

Question 4

4) Failing to provide financing in certain communities is called:
A) redlining.
B) redevelopment.
C) panic selling.
D) subordination.

Answer 4

A) redlining.

Question 5

5) The _________ is a 1974 federal enactment prohibiting lenders from discriminating against borrowers from a protected class.
A) Credit Reporting Act
B) Truth-in-Lending Act
C) Equal Credit Opportunity Act
D) Dodd-Frank Wall Street Reform and Consumer Protection Act

Answer 5

C) Equal Credit Opportunity Act

Question 6

6) A lender may lawfully consider ________ when determining the applicant’s creditworthiness.
A) a mortgage applicant’s age
B) the religious preference of the mortgage applicant
C) whether the mortgage applicant intends to bear children
D) whether an applicant’s income is derived from alimony

Answer 6

A) a mortgage applicant’s age

Question 7

7) Consumers may request a free copy of their credit report \_\_\_\_\_\_\_\_ to review it for errors.
A) once every month
B) once every quarter
C) twice every year
D) once every year

Answer 7

D) once every year

Question 8

8) The _______ requires lenders to compile and submit their home loan origination data to their respective supervisory agencies.
A)Equal credit opportunity act
B) Home Mortgage Disclosure Act (HMDA)
C) Home Affordable Modification Plan (HAMP)
D) Federal Fair Housing Act (FFHA)

Answer 8

B) Home Mortgage Disclosure Act (HMDA)

Question 9

9) 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:
A) Unruh Civil Rights Act.
B) Federal Fair Housing Act (FFHA).
C) Americans with Disabilities Act (ADA).
D) Equal Credit Opportunity Act.

Answer 9

B) Federal Fair Housing Act (FFHA).

Question 10

10) 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):
A) code of ethics.
B) copy of the broker’s driver’s license.
C) inspirational poster.
D) fair housing poster.

Answer 10

D) fair housing poster.