PTCB Final Examination
⩥ Federal Fair Housing Act. Answer: An act contained in Title VIII of
the Civil Rights Act of 1968 that created protected classes of people and
prohibits discrimination when selling or renting residential property
when based on race, color, religion, sex, national origin, familial status,
or handicap status.
⩥ Agency Disclosure Statement. Answer: Form that states whether an
agent is representing the seller or the buyer, or both, in a transaction.
⩥ Disclosures. Answer: Points or facts that must be revealed.
⩥ Earnest Money. Answer: Money offered as an indication of good faith
regarding the future performance of a purchase agreement.
⩥ Commingling. Answer: Illegally mixing personal or business funds
with money held in trust on behalf of a client.
⩥ Conversion. Answer: Misappropriation of property or funds belonging
to another.
⩥ Revocation. Answer: 1. When someone who granted or offered
something withdraws it; as when a principal withdraws the authority
granted to the agent, an offeror withdraws the offer. 2. When a state's
⩥ Federal Fair Housing Act. Answer: An act contained in Title VIII of
the Civil Rights Act of 1968 that created protected classes of people and
prohibits discrimination when selling or renting residential property
when based on race, color, religion, sex, national origin, familial status,
or handicap status.
⩥ Agency Disclosure Statement. Answer: Form that states whether an
agent is representing the seller or the buyer, or both, in a transaction.
⩥ Disclosures. Answer: Points or facts that must be revealed.
⩥ Earnest Money. Answer: Money offered as an indication of good faith
regarding the future performance of a purchase agreement.
⩥ Commingling. Answer: Illegally mixing personal or business funds
with money held in trust on behalf of a client.
⩥ Conversion. Answer: Misappropriation of property or funds belonging
to another.
⩥ Revocation. Answer: 1. When someone who granted or offered
something withdraws it; as when a principal withdraws the authority
granted to the agent, an offeror withdraws the offer. 2. When a state's
