Compliance with federal regulations

The Equal Credit Opportunity Act is regulated by the ______.

Consumer Financial Protection Bureau

Which of these HUD programs allows mortgage lenders to obtain a better price for their mortgage loans in the secondary mortgage market?

Ginnie Mae

The CFPB uses education to accomplish its mission, such as the ______ publications.

Know Before You Owe

Which HUD program is responsible for developing and enforcing federal fair housing policies and laws?

Office of Fair Housing and Equal Opportunity

Which of these situations would be covered by a general liability insurance policy?

On a wintry day, a client slipped and fell on the walkway at the brokerage, breaking his leg. He sued the brokerage.

Your seller client has listed a beautiful piece of land on the water. You know this property would be a great investment if it were subdivided and developed, but you don't mention the potential investment value to the seller because you want the property for yourself. You also don't market it or present any offers. After several months, you buy the property at a deep discount. What does this make you guilty of?

Passive fraud

Which of the following is a method of preventing or minimizing risk?

Providing regular relevant training to licensees

What is the name of the set of regulations used to enforce the Equal Credit Opportunity Act?

Regulation B

Jen owns Tri-City Realtors. More than one of her licensees has failed to comply with a federal regulation. What can Jen do to reduce the risk of her agents violating federal regulations?

Require licensee training.

Kendrick owns Pendant Real Estate Company. Kendrick is called as a witness for his licensee Steve's case involving antitrust. Which of the following can protect Kendrick in his liability for Steve's actions?

The firm policies and training given to Steve outline antitrust violations and the ramifications for violations.

What is the purpose of the Truth in Lending Act?

To better educate consumers about the cost of credit or obtaining a loan

Tracy often mishandles her buyer clients' funds, and one is suing her. Through which of the following concepts may her broker also be held responsible for her actions?

Vicarious liability