Comprehensive Study 1 Up to Date Content
National Exam - Practice of Real
Estate Latest Questions and Graded
Answers
Practice of Real Estate
Civil Rights act of 1866
Ans: prohibit racial discrimination in all conveying
of real and personal property
Practice of Real Estate
in regards to convicted drug dealers...
Ans: they are NOT covered under any condition
under the federal fair housing act of 1968 and the
amendment in 1988, authorized administrative law judges
may now...
Ans: admin law judges within HUD may now hold
contested case hearings
Practice of Real Estate
Remedies under the new amendment include:
Up to Date Content
,Comprehensive Study 2 Up to Date Content
Ans: 1) a civil penalty, not exceeding $16,000 for the
first offense
2) a penalty not exceeding $37,500, if another
offense was committed within the past 5 years
3) a penalty not exceeding $65,000 if two or more
discriminatory practices have been found in the past
7 years
The ADA provides for enforcement by allowing several
remedies for a person who is discriminated against,
including
Ans: 1) a temporary or permanent injunction
2) the court may grant any equitable relief that the
court considers appropriate
3) a civil penalty of up to $50K for a first violation
and penalty of up to $100K for any subsequent
violation
Practice of Real Estate
Truth-in-Lending Act (TILA)
Disclosure/Coverage Requirements
Ans: -cost in credit transactions
-customer has 3 day right to rescind
-loans to
Up to Date Content
, Comprehensive Study 3 Up to Date Content
under a fee simple absolute, if the owner dies what happens
to the property?
Ans: the owner's heirs will gain ownership
tenancy in common
Ans: -ownership by two or more WITHOUT rights of
survivorship
-upon death, share will go to that person's heirs
Joint tenancy
Ans: -ownership by 2 or more people WITH rights of
survivorship
-four unities required for this ownerhsip: time, title,
interest and possession
Tenancy by the Entirety
Ans: joint tenancy where the co-owners are husband
and wife
what does assemblage refer to?
Ans: combining several parcels of land into one
what does plottage refer to?
Ans: the increased sum of value and usability from
assemblage
condos are owned by what type of mutual ownership
Ans: tenants in common
Up to Date Content
National Exam - Practice of Real
Estate Latest Questions and Graded
Answers
Practice of Real Estate
Civil Rights act of 1866
Ans: prohibit racial discrimination in all conveying
of real and personal property
Practice of Real Estate
in regards to convicted drug dealers...
Ans: they are NOT covered under any condition
under the federal fair housing act of 1968 and the
amendment in 1988, authorized administrative law judges
may now...
Ans: admin law judges within HUD may now hold
contested case hearings
Practice of Real Estate
Remedies under the new amendment include:
Up to Date Content
,Comprehensive Study 2 Up to Date Content
Ans: 1) a civil penalty, not exceeding $16,000 for the
first offense
2) a penalty not exceeding $37,500, if another
offense was committed within the past 5 years
3) a penalty not exceeding $65,000 if two or more
discriminatory practices have been found in the past
7 years
The ADA provides for enforcement by allowing several
remedies for a person who is discriminated against,
including
Ans: 1) a temporary or permanent injunction
2) the court may grant any equitable relief that the
court considers appropriate
3) a civil penalty of up to $50K for a first violation
and penalty of up to $100K for any subsequent
violation
Practice of Real Estate
Truth-in-Lending Act (TILA)
Disclosure/Coverage Requirements
Ans: -cost in credit transactions
-customer has 3 day right to rescind
-loans to
Up to Date Content
, Comprehensive Study 3 Up to Date Content
under a fee simple absolute, if the owner dies what happens
to the property?
Ans: the owner's heirs will gain ownership
tenancy in common
Ans: -ownership by two or more WITHOUT rights of
survivorship
-upon death, share will go to that person's heirs
Joint tenancy
Ans: -ownership by 2 or more people WITH rights of
survivorship
-four unities required for this ownerhsip: time, title,
interest and possession
Tenancy by the Entirety
Ans: joint tenancy where the co-owners are husband
and wife
what does assemblage refer to?
Ans: combining several parcels of land into one
what does plottage refer to?
Ans: the increased sum of value and usability from
assemblage
condos are owned by what type of mutual ownership
Ans: tenants in common
Up to Date Content
