Real Estate Practice Ch. 2

Familial status became a protected class under the

1988 Fair Housing Amendment Act

Real estate brokers are required to maintain records of each transaction for at least how many years

3

In order to be considered a senior living residence, at least 80% of the units must be occupied by persons ..........years or older

55

The Sherman Anti-Trust Act prohibits which of the following? A-Price fixing B-Market allocation C-Group boycotting D-All of the above

All of the above

Which of the following is considered an illegal action under the fair housing laws? A-Steering B-Blockbusting C-Redlining D-All of the above

All of the above

A federal law protecting the rights of individuals with physical or mental impairments is known as the

Americans with Disabilities Act

Public accommodations for handicapped individuals is required under the

Americans with Disabilities Act

The use of prejudice to instill fear, or panic, in order to motivate individuals in a particular area or neighborhood to sell or dispose of their property because of the entrance, or potential entry, of a protected class is known as

Blockbusting

Steering is commonly associated with

Buyers

This federal law prohibits all discrimination on the basis of race only

Civil Rights Act of 1866

This federal law prohibits discrimination on the basis of race, sex, color, national origin, or gender in any housing program receiving federal money

Civil Rights Act of 1964

The illegal mixing of personal funds with money held in trust on behalf of a client is known as

Commingling

The unlawful appropriation of another's property or funds is known as

Conversion

A long-term physical or mental impairment, or condition, that substantially limits a person's major activities is known as a/an

Disability

Moral principles that govern a person's or group's behavior are known as

Ethics

Which of the following prohibited discrimination in housing whenever federal funds were involved

Executive Order 11603

This federal law prohibits discrimination in the sale, rental, financing, or appraisal of housing on the basis of race, color, religion, gender, national origin, handicap, or familial status

Fair Housing Act of 1968

Any licensed real estate broker or agent can call themselves a Realtor. T/F?

False

The Fair Employment Housing Act is also known as the Rumford Fair Housing Act. T/F?

False

This court cased determined it was unconstitutional to refuse to sell a house on the basis of race

Jones V. Mayer

This federal law requires the disclosure to borrowers of settlement (closing) procedures and costs by means of a pamphlet and forms prescribed by the United States Department of Housing and Urban Development (HUD)

RESPA

The refusal to lend money within a specific area for various reasons is known as

Redlining

Which of the following is considered a support or service animal

Seeing eye dog

A federal legislation including the imposition of civil and punitive damages for anti-trust activities is known as the

Sherman Anti-Trust Act

Using racial, ethnic, or religious criteria in suggesting, recommending, and/or influencing individuals regarding locations for the purchase or rental of a single family residence or rental dwelling is known as

Steering

A landlord is not allowed to charge an increased security deposit for a tenant with a service animal. T/F?

True

Blockbusting is also known as panic selling. T/F?

True

Discrimination in advertising is covered under the Civil Rights Act of 1968. T/F?

True

Ethics tends to precede law. T/F?

True

Money, or other things of value, that a real estate agent receives on behalf of the principal or any other person involved in a transaction are known as

Trust Funds