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Real Estate Exam! > Unit 7: Federal and State Laws Pertaining to Real Estate > Flashcards

Unit 7: Federal and State Laws Pertaining to Real Estate Flashcards

1
Q

A federal act that prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.

A

Civil Rights Act Of 1866

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2
Q

An act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status.

A

Fair Housing Act

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3
Q

A protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women.

A

Familial Status

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4
Q

A protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities.

A

Handicap Status

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5
Q

True/False The Fair Housing Act provides protection from discrimination to individuals based on age.

A

False. No protection is given under the Fair Housing Act to individuals based on age, occupation, marital status, or sexual orientation.

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6
Q

True/False The Civil Rights Act of 1866 prohibits discrimination on the basis of race in residential and commercial real estate.

A

True

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7
Q

True/False The Fair Housing Act recommends the use of an equal opportunity poster that features the equal housing logo and a statement that pledges adherence to the Fair Housing Act.

A

False. The Act requires, not recommends, the use of an equal opportunity poster featuring the equal housing logo and a statement that pledges adherence to the Fair Housing Act.

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8
Q

Discriminatory financing by a lending institution.

A

Redlining

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9
Q

True/False A real estate licensee lists a single-family dwelling. The seller owns two other single-family properties that are not listed for sale. This real estate transaction is exempt under the Fair Housing Act.

A

False. The Fair Housing Act applies to privately owned residential real estate transactions when a broker is employed to sell or rent the property.

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10
Q

True/False A property owner owns a four-unit multifamily dwelling. The owner lives in one of the units. The owner advertises a vacant unit for rent, stating that no children are allowed because the existing residents are all couples with no children. This transaction is exempt from the Fair Housing Act.

A

False. The rental transaction would be exempt from the Fair Housing Act, provided the owner did not use discriminatory advertising to market the unit. Advertising that no children are allowed is discriminatory advertising against a protected class (familial status).

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11
Q

True/False Redlining is the practice of denying loans by a lender that present different terms or conditions for homes of certain neighborhoods.

A

True

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12
Q

Private entities that own, lease, lease to, or operate facilities such as restaurants, retail stores, hotels, movie theaters, private schools, convention centers, doctors’ offices, homeless shelters, transportation depots, zoos, funeral homes, day care centers, and recreation facilities, including sports stadiums and fitness clubs.

A

Public Accommodations

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13
Q

ADA requirements apply to a real estate brokerage office located in a private residence.

A

True

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14
Q

True/False ADA is a federal statute that protects the employment rights of persons with physical (but not mental) disabilities.

A

False. The ADA is a federal statute that protects employment and accessibility rights of individuals with mental and physical disabilities.

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15
Q

A disclosure document required under the federal Interstate Land Sales Full Disclosure Act.

A

Property Report

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16
Q

True/False Land developers are NOT permitted to sell or lease lots in subdivisions of 100 or more lots unless they have registered the subdivision with the Consumer Financial Protection Bureau.

A

True

17
Q

True/False The Interstate Land Sales Full Disclosure Act allows a 10-day period to cancel the sale agreement for prospective purchasers who receive the property report before signing the purchase agreement.

A

False. Purchasers who timely receive the property report may cancel the contract anytime before midnight of the seventh day after signing the contract.

18
Q

True/False All developers must provide buyers with a property report.

A

False. Developers of 25 or more lots must provide buyers with a property report.

19
Q

True/False A real estate broker who has been hired to manage an apartment complex on behalf of the landlord must place the advance rent and security deposits into the broker’s escrow account.

A

True

20
Q

True/False The sale of tenant-occupied residential property automatically terminates the lease.

A

False. The sale of a property does not terminate a lease unless the lease specifically provides for its termination when title is transferred to a new owner.

21
Q

True/False Landlords of five or more units may verbally inform tenants of how tenant security deposits will be held at the time the deposits are paid to the landlord.

A

False. Landlords of five or more units must give tenants written notice of the advance rent or security deposit either in the lease agreement or within 30 days after receipt of advance rent or security deposit.

22
Q

True/False Landlords must give reasonable notice before entering a tenant’s apartment, except in emergencies.

A

True

23
Q

Upheld the Civil Rights Act of 1866.

A

Jones v. Mayer case

24
Q

Under which circumstance is a landlord relieved from the requirement to place security deposits into a special rental account?

A) Landlord posts a surety bond with the clerk of the circuit court.
B) Landlord files a statement of record with Florida Department of Business and Professional Regulation.
C) Landlord posts a financial assets statement with the Securities and Exchange Commission.
D) Landlord has assets in excess of $1 million.

A

A) Landlord posts a surety bond with the clerk of the circuit court.

25
Q

The Fair Housing Amendments Act of 1988 added which protected class to the Fair Housing Act?

A) Handicap status
B) Sex
C) Religion
D) National origin

A

A) Handicap status

26
Q

Which housing is exempt from the familial status protection under the Fair Housing Act?

A) At least 75% of the units are occupied by one or more persons 50 years of age or older.
B) All units are occupied by persons 60 years of age or older.
C) All the units are occupied by persons older than age 18.
D) At least 80% of the units are occupied by one or more persons 55 years of age or older.

A

D) At least 80% of the units are occupied by one or more persons 55 years of age or older.

27
Q

Which statement is TRUE regarding a racial discrimination case involving commercial real estate?

A) The Civil Rights Act of 1968, which replaced the 1866 Civil Rights Act, does not protect against racial discrimination in nonresidential transactions.
B) The Fair Housing Act, as amended in 1988, makes racial discrimination in nonresidential transactions illegal.
C) Racial discrimination in commercial transactions is not protected under the law because the Fair Housing Act pertains to residential real estate only.
D) The Civil Rights Act of 1866, which is enforceable today, makes racial discrimination illegal in residential and nonresidential transactions.

A

D) The Civil Rights Act of 1866, which is enforceable today, makes racial discrimination illegal in residential and nonresidential transactions.

28
Q

Under ILSA, developers of 25 or more lots must provide buyers with

A) a property report.
B) a disclosure regarding the right to cancel the contract within 14 days after signing the contract.
C) proof of registration with the Bureau of Consumer Financial Protection.
D) the developer’s financial statement.

A

A) a property report.

29
Q

Housing for older persons is exempt from the familial status protection under the Fair Housing Act provided what percentage of the units are occupied by one or more persons 62 years of age or older?

A) 50%
B) 80%
C) 100%
D) 90%

A

C) 100%

30
Q

If a landlord does not intend to make a claim on a tenant’s security deposit, how long does the landlord have to return the deposit?

A) 15 days
B) 3 days
C) 10 days
D) 7 days

A

A) 15 days

31
Q

The ADA’s definition of public accommodation does NOT include a

A) hotel.
B) private home.
C) shopping center.
D) restaurant.

A

B) private home.

32
Q

From which source can a broker obtain a copy of the equal housing opportunity poster for a new real estate office?

A) Florida Realtors®
B) Department of Housing and Urban Development
C) Council on Fair Housing Administration
D) Department of Business and Professional Regulation

A

B) Department of Housing and Urban Development

33
Q

Which entity does NOT help enforce the Fair Housing Act?

A) Department of Justice
B) Fannie Mae
C) State fair housing enforcement agencies
D) Department of Housing and Urban Development

A

B) Fannie Mae

34
Q

A licensed sales associate collects rent from a tenant. The sales associate must

A) deliver the rental money to the landlord and give the tenant a deposit receipt within 24 hours.
B) deliver the rental money to the landlord within three business days.
C) deliver the rental money to the employing broker by the end of the next business day.
D) deposit the rental money in the sale’s associate’s business account.

A

C) deliver the rental money to the employing broker by the end of the next business day.

35
Q

Which property is exempt from Title VIII of the Civil Rights Act of 1968?

A) Three-unit dwelling in which the owner resides in one of the units
B) Government-owned residential property
C) Multifamily dwelling of five or more units
D) Privately owned residential property offered for sale or lease through a real estate licensee

A

A) Three-unit dwelling in which the owner resides in one of the units

Real Estate Exam! (20 decks)

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