Illinois leasing agent chapter 3 Exam With Complete Solutions

Illinois leasing agent chapter 3 Exam With Complete Solutions Stigmatized property - answerA property that has an undesirable reputation because a violent crime or suicide occurred in the property. Antitrust - answerLaws designated to preserve the free enterprise of the open marketplace by forbidding certain private conspiracies and combinations created to minimize competition. Material Defect - answerFacts about a property that could influences a buyer's decision to make an offer. Lead-Based Paint Hazard Reduction Act - answerPersons selling or leasing property built before 1978 must disclose the known presence of lead-based paint and provide any relevant records. Mold - answerFungi that can found almost anywhere and can grow on almost any organic substance. RESPA - answerThe federal law that requires certain disclosures about mortgage loan settlements and prohibits kickbacks and certain kinds of referral fees. CAN-SPAM - answerLaw that establishes requirements for commercial email, including eBlasts. Do-Not-Call Registry - answerThe federal law that allows consumers to register their phone numbers to alleviate calls from telemarketers. Fair Credit Reporting Act - answerThe law that spells out the responsibilities of users of credit information. Radon - answerA naturally occurring gas that is suspected of causing lung cancer. Opt-out - answerThe right of a consumer to stop commercial emails from being sent to the Price fixing and boycott issues are the two components of the Sherman Act which passed in 1890. T F - answerTrue Two brokers deciding to cooperate unfavorably with a new company is an example of an antitrust violation. T F - answerTrue On a listing appointment it's okay to say to the clients: "Our commission rates are standard for the area." T F - answerFalse