omprehensive Study Guide HUD
C
Certification Exam
" Comprehensive Study Guide: HUD Certification Exam," covers
fundamental concepts for the HUD Certification Exam. It includes
definitions and explanations of key terms related to fair housing laws (e.g.,
Deed Restrictions, Redlining, Fair Housing Act), credit reporting, financial
management (e.g., various fees, savings accounts, credit ratios), and
different types of mortgage loans. It also touches upon HUD programs and
relevant federal acts.
1 . What are Deed Restrictions?Legally enforceable terms that govern the use
of real estate.
. What is Redlining?The practice of refusing to make residential loans or
2
imposing more onerous terms on any loans made because of the predominant
race, color, national origin, religion, sex, disability, or familial status of the area's
residents.
. Following the assassination of Dr. Martin Luther King Jr., Congress
3
passed what monumental piece of legislation, which prohibits
discrimination in housing sales, rentals, and financing based on race,
color, national origin, religion, sex, disability, and familial status?Civil
,Rights Act of 1968.
. The Fair Housing Act, as amended, protects how many characteristics?
4
7.
. Provide an example of a Reasonable Modification.A property manager of
5
an apartment complex that receives federal financial assistance installs a ramp
so that a tenant in a wheelchair can easily access her first-floor apartment.
. Provide an example of a Reasonable Accommodation.Housing provider
6
has a policy of requiring tenants to come to the rental office to pay their rent. A
tenant with a mental disability, who is afraid to leave her unit, is allowed to mail
her rent payment.
. True or False: The Fair Housing Act does not prohibit a lender from
7
showing potential clients information about different loans.True.
. What is the Fair Housing Assistance Program (FHAP)?Provides annual
8
funding to state and local agencies that enforce fair housing laws that are
substantially equivalent to the Fair Housing Act. These funds go towards an
agency's capacity building, administrative costs, investigative and enforcement
efforts, training, and other projects designed to support enforcement of fair
housing law.
. What is the Fair Housing Initiatives Program (FHIP)?Provides funding to
9
fair housing organizations and nonprofits that assist people who may have
been victims of housing discrimination.
1 0. What is the aim of a Marketing Analysis in the context of fair housing?
Aim is to identify groups of people who would benefit most if targeted by the
campaign, the characteristics of these people, and their expectations.
1 1. What is the opportunity presented by a Networking Event in fair
housing?The opportunity to increase awareness of the plans and actions of
housing industry members, private organizations and foundations, public
housing agencies, neighborhood groups, regional organizations, and others to
further fair housing objectives.
12. Which section of a credit report contains employer details?Personal
, Information.
1 3. Which section of a credit report contains information about a student
loan?Account Information.
1 4. Which section of the credit report contains court information such as
a bankruptcy?Public Records.
1 5. Which section of the credit report will show recent attempts to open a
credit card?Inquiries.
1 6. Which section of the credit report contains information about how to
correct inaccuracies?Consumer Rights.
1 7. In the context of credit, what information is found in "Account
History"?Payment history of accounts, including late payments, delinquencies,
judgments, and liens.
1 8. In the context of credit, what does "Amounts Owed" refer to?Ratio of
total credit extended to the amount of credit owed.
1 9. In the context of credit, what does "Length of Credit History" refer to?
Overall length of credit history in the report as well as the average age of
accounts.
0. In the context of credit, what does "Types of Credit" refer to?Variety of
2
accounts (e.g. credit card, auto loan, mortgage).
1. In the context of credit, what does "New Credit" refer to?Number of
2
recent credit inquiries, as well as new credit accounts.
2. Where does a client go to get a free credit report?
2
AnnualCreditReport.com.
3. Which federal law states you have the right to dispute information in
2
your credit file that is incomplete, inaccurate, or unverifiable?Fair Credit
Reporting Act (FCRA).
24. Which federal law states you have the right to a free annual credit
C
Certification Exam
" Comprehensive Study Guide: HUD Certification Exam," covers
fundamental concepts for the HUD Certification Exam. It includes
definitions and explanations of key terms related to fair housing laws (e.g.,
Deed Restrictions, Redlining, Fair Housing Act), credit reporting, financial
management (e.g., various fees, savings accounts, credit ratios), and
different types of mortgage loans. It also touches upon HUD programs and
relevant federal acts.
1 . What are Deed Restrictions?Legally enforceable terms that govern the use
of real estate.
. What is Redlining?The practice of refusing to make residential loans or
2
imposing more onerous terms on any loans made because of the predominant
race, color, national origin, religion, sex, disability, or familial status of the area's
residents.
. Following the assassination of Dr. Martin Luther King Jr., Congress
3
passed what monumental piece of legislation, which prohibits
discrimination in housing sales, rentals, and financing based on race,
color, national origin, religion, sex, disability, and familial status?Civil
,Rights Act of 1968.
. The Fair Housing Act, as amended, protects how many characteristics?
4
7.
. Provide an example of a Reasonable Modification.A property manager of
5
an apartment complex that receives federal financial assistance installs a ramp
so that a tenant in a wheelchair can easily access her first-floor apartment.
. Provide an example of a Reasonable Accommodation.Housing provider
6
has a policy of requiring tenants to come to the rental office to pay their rent. A
tenant with a mental disability, who is afraid to leave her unit, is allowed to mail
her rent payment.
. True or False: The Fair Housing Act does not prohibit a lender from
7
showing potential clients information about different loans.True.
. What is the Fair Housing Assistance Program (FHAP)?Provides annual
8
funding to state and local agencies that enforce fair housing laws that are
substantially equivalent to the Fair Housing Act. These funds go towards an
agency's capacity building, administrative costs, investigative and enforcement
efforts, training, and other projects designed to support enforcement of fair
housing law.
. What is the Fair Housing Initiatives Program (FHIP)?Provides funding to
9
fair housing organizations and nonprofits that assist people who may have
been victims of housing discrimination.
1 0. What is the aim of a Marketing Analysis in the context of fair housing?
Aim is to identify groups of people who would benefit most if targeted by the
campaign, the characteristics of these people, and their expectations.
1 1. What is the opportunity presented by a Networking Event in fair
housing?The opportunity to increase awareness of the plans and actions of
housing industry members, private organizations and foundations, public
housing agencies, neighborhood groups, regional organizations, and others to
further fair housing objectives.
12. Which section of a credit report contains employer details?Personal
, Information.
1 3. Which section of a credit report contains information about a student
loan?Account Information.
1 4. Which section of the credit report contains court information such as
a bankruptcy?Public Records.
1 5. Which section of the credit report will show recent attempts to open a
credit card?Inquiries.
1 6. Which section of the credit report contains information about how to
correct inaccuracies?Consumer Rights.
1 7. In the context of credit, what information is found in "Account
History"?Payment history of accounts, including late payments, delinquencies,
judgments, and liens.
1 8. In the context of credit, what does "Amounts Owed" refer to?Ratio of
total credit extended to the amount of credit owed.
1 9. In the context of credit, what does "Length of Credit History" refer to?
Overall length of credit history in the report as well as the average age of
accounts.
0. In the context of credit, what does "Types of Credit" refer to?Variety of
2
accounts (e.g. credit card, auto loan, mortgage).
1. In the context of credit, what does "New Credit" refer to?Number of
2
recent credit inquiries, as well as new credit accounts.
2. Where does a client go to get a free credit report?
2
AnnualCreditReport.com.
3. Which federal law states you have the right to dispute information in
2
your credit file that is incomplete, inaccurate, or unverifiable?Fair Credit
Reporting Act (FCRA).
24. Which federal law states you have the right to a free annual credit
