A buyer with six children was told by a broker that the neighborhood she wanted to
view was not suitable for her family because it had very few children. The buyer
decided to file a fair housing complaint against the broker and brokerage firm. In this
type of case, the first step is for HUD to
A)
take the broker's license until the hearing is completed.
B)
request that the real estate commission start an investigation.
C)
require the buyer to prove that discrimination occurred.
,D)
start an investigation to verify if the complaint is valid.
Give this one a try later!
D)
The answer is start an investigation to verify if the complaint is valid. The
first step for HUD, or any other regulatory agency, is to determine whether
the law was broken and if the complaint is valid. If a broker or a
salesperson violated the law, HUD could then file a complaint with the
state real estate commission or other regulatory agency to revoke the real
estate license.
A potential buyer was turned down for a mortgage loan because of the high crime
rate in the area where the property is located. This is an example of
A)
legal redlining because crime rates can impact value.
B)
blockbusting by the lender.
C)
a good business practice because the buyer had children.
D)
redlining by the lender.
Give this one a try later!
D)
The answer is redlining by the lender. Redlining is refusing to loan in an
area because of crime rates or the ethnic makeup of the neighborhood.
Redlining is never legal.
,An apartment building advertises its apartments as "adult only." This advertising is
A)
legal if each unit has at least one person over 55 living in it.
B)
illegal and discriminatory against children.
C)
legal per federal law, but may be illegal per state laws.
D)
legal if the adults are married.
Give this one a try later!
A)
The answer is legal if each unit has at least one person over 55 living in it.
Federal law allows senior housing to discriminate based on familial status
(to not rent or sell to families with children) if 80% of the units are rented to
at least one person over 55 years old.
As part of land surveys and legal descriptions, monuments are used to establish the
property's
A)
lot size.
B)
variances.
C)
zoning rules.
D)
boundaries.
Give this one a try later!
, D)
The answer is boundaries. Monuments are fixed points used to mark
corners and set boundaries. They are used in metes-and-bounds legal
descriptions and in surveys to mark the boundaries.
If a borrower is refused a loan because the borrower is retired and receiving public
assistance, the lender is in violation of
A)
HUD.
B)
RESPA.
C)
ECOA.
D)
FHA.
Give this one a try later!
C)
The answer is ECOA. The Equal Credit Opportunity Act (ECOA) adds age
and public assistance as protected classes.
The subject property has two baths and one fireplace. The property across the street
sold for $181,000 and has two baths and two fireplaces. The property behind the
subject sold for $175,000 and has two baths and no fireplace. In the area, baths are
worth $5,000 and fireplaces are worth $3,000. What is the subject property worth?
A)
$175,000
B)
$177,000
view was not suitable for her family because it had very few children. The buyer
decided to file a fair housing complaint against the broker and brokerage firm. In this
type of case, the first step is for HUD to
A)
take the broker's license until the hearing is completed.
B)
request that the real estate commission start an investigation.
C)
require the buyer to prove that discrimination occurred.
,D)
start an investigation to verify if the complaint is valid.
Give this one a try later!
D)
The answer is start an investigation to verify if the complaint is valid. The
first step for HUD, or any other regulatory agency, is to determine whether
the law was broken and if the complaint is valid. If a broker or a
salesperson violated the law, HUD could then file a complaint with the
state real estate commission or other regulatory agency to revoke the real
estate license.
A potential buyer was turned down for a mortgage loan because of the high crime
rate in the area where the property is located. This is an example of
A)
legal redlining because crime rates can impact value.
B)
blockbusting by the lender.
C)
a good business practice because the buyer had children.
D)
redlining by the lender.
Give this one a try later!
D)
The answer is redlining by the lender. Redlining is refusing to loan in an
area because of crime rates or the ethnic makeup of the neighborhood.
Redlining is never legal.
,An apartment building advertises its apartments as "adult only." This advertising is
A)
legal if each unit has at least one person over 55 living in it.
B)
illegal and discriminatory against children.
C)
legal per federal law, but may be illegal per state laws.
D)
legal if the adults are married.
Give this one a try later!
A)
The answer is legal if each unit has at least one person over 55 living in it.
Federal law allows senior housing to discriminate based on familial status
(to not rent or sell to families with children) if 80% of the units are rented to
at least one person over 55 years old.
As part of land surveys and legal descriptions, monuments are used to establish the
property's
A)
lot size.
B)
variances.
C)
zoning rules.
D)
boundaries.
Give this one a try later!
, D)
The answer is boundaries. Monuments are fixed points used to mark
corners and set boundaries. They are used in metes-and-bounds legal
descriptions and in surveys to mark the boundaries.
If a borrower is refused a loan because the borrower is retired and receiving public
assistance, the lender is in violation of
A)
HUD.
B)
RESPA.
C)
ECOA.
D)
FHA.
Give this one a try later!
C)
The answer is ECOA. The Equal Credit Opportunity Act (ECOA) adds age
and public assistance as protected classes.
The subject property has two baths and one fireplace. The property across the street
sold for $181,000 and has two baths and two fireplaces. The property behind the
subject sold for $175,000 and has two baths and no fireplace. In the area, baths are
worth $5,000 and fireplaces are worth $3,000. What is the subject property worth?
A)
$175,000
B)
$177,000
