PSI Real Estate Exam: Practice of Real Estate questions with complete solutions

The total cost of financing a loan in percentage terms, as a relationship of the total finance charges to the total amount financed. correct answer: Annual Percentage Rate (APR) The illegal practice of inducing owners to sell their homes (often at a deflated price) by suggesting that the ethnic or racial composition of the neighborhood is changing, with the implication that property values will decline as a result. Also called panic selling. correct answer: Blockbusting Treating people unequally because of their race, religion, sex, national origin, age, or some other characteristic of a protected class, in violation of civil rights laws. correct answer: Discrimination Federal law that prohibits discrimination in granting credit to people based on sex, age, marital status, race, color, religion, national origin or receipt of public assistance. correct answer: Equal Credit Opportunity Act (ECOA) A protected group under the Federal Fair Housing Act and Ohio Civil Rights Law, making it illegal to discriminate against a person because he or she is the parent or guardian of a child under 18 years of age. correct answer: Familial Status Government agency that insures mortgage loans. correct answer: Federal Housing Administration (FHA) government agency that deals with housing issues. correct answer: (HUD) The Department of Housing and Urban Developm