8/17/25, 3:02 AM HUD CERTIFICATION EXAM QUESTIONS AND VERIFIED ANSWERS 2025(GRADED A+) DETAILED ANSWERS!! Flashcards | …
HUD CERTIFICATION EXAM QUESTIONS AND
VERIFIED ANSWERS 2025(GRADED A+)
DETAILED ANSWERS!!
Fair and Accurate Credit You have the right to a free annual credit report.
Transactions Act (FACTA)
Fair and Accurate Credit You have the right to place a fraud alert on your credit file.
Transactions Act (FACTA)
Fair Credit Reporting Act You have the right to know what is in your credit file.
(FCRA)
Fair Credit Billing Act Which federal law protects a consumer's right to dispute a billing
(FCBA) error associated with his/her credit card account.
Fair Credit Reporting Act What act limits employers access to persons credit report.
(FCRA)
Wire Transfer Fee Fee charged when a client sends a payment to another account
electronically through electronic funds transfer (EFT)
Overdraft Fee Fee charged when an account doesn't have money to cover a
purchase and the financial institution loans money to complete
the payment.
Stop Payment Fee Fee charged to invalidate a check before it is cashed.
NSF Fee Fee charged if there is not enough money in an account to cover
a check payment of other purchase.
CD; Money Market; High- Examples of accounts that would be ideal for short-term large
Interest Account purchase savings
Renters Insurance An insurance policy that provides coverage for damages, within
a rental property, to renters' belongings and liability.
Discount Points A type of pre-paid interest normally paid at closing and generally
calculated to be equivalent to 1% of the total loan amount
Default The inability to make timely payments or fulfill legal obligations
of loan terms.
Equity Value of ownership interest in property.
Foreclosure A legal process in which mortgaged property is sold to pay the
loan of a defaulting borrower.
Escrow Funds to be used for specific purposes by parties carrying out a
mutual transaction, deposited with a third party.
Closing Costs Fees for final property transfer that are not included in the price
of the property.
Homeowners Insurance An insurance policy that can provide coverage for damages to a
dwelling and contents that belong to the homeowner.
Front-end Ration A rate that calculates a borrower's housing-related obligations as
a percentage of gross monthly income. AKA - Housing Ratio
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, 8/17/25, 3:02 AM HUD CERTIFICATION EXAM QUESTIONS AND VERIFIED ANSWERS 2025(GRADED A+) DETAILED ANSWERS!! Flashcards | …
The practice of refusing to make residential loans or
Redlining 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 passed what monumental piece of legislation,
Civil Rights Act of 1968
which prohibits discrimination in housing sales,
rentals, and financing based on race, color, national
origin, religion, sex, disability and familial status?
7 The Fair Housing Act, as amended, protects how many
characteristics?
A property manager of an apartment complex that
Reasonable Modification receives federal financial assistance installs a ramp so
that a tenant in a wheelchair can easily access her first-
floor apartment.
Housing provider has a policy of requiring tenants to
Reasonable Accommodation 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.
The Fair Housing Act does not prohibit a lender from
True
showing potential clients information about different
loans.
Provides annual funding to state and local agencies that
enforce fair housing laws that are substantially
Fair Housing Assistance equivalent to the Fair Housing Act. These funds go
Program (FHAP)
towards an agency's capacity building, administrative
costs, investigative and enforcement
efforts, training and other projects designed to support
enforcement of fair housing law.
Provides funding to fair housing organizations and
Fair Housing Initiatives
Program (FHIP) nonprofits that assist people who may have been
victims of housing discrimination.
Aim is to identify groups of people who would benefit
Marketing Analysis
most if targeted by the campaign, the characteristics
of these people, and their expectations.
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HUD CERTIFICATION EXAM QUESTIONS AND
VERIFIED ANSWERS 2025(GRADED A+)
DETAILED ANSWERS!!
Fair and Accurate Credit You have the right to a free annual credit report.
Transactions Act (FACTA)
Fair and Accurate Credit You have the right to place a fraud alert on your credit file.
Transactions Act (FACTA)
Fair Credit Reporting Act You have the right to know what is in your credit file.
(FCRA)
Fair Credit Billing Act Which federal law protects a consumer's right to dispute a billing
(FCBA) error associated with his/her credit card account.
Fair Credit Reporting Act What act limits employers access to persons credit report.
(FCRA)
Wire Transfer Fee Fee charged when a client sends a payment to another account
electronically through electronic funds transfer (EFT)
Overdraft Fee Fee charged when an account doesn't have money to cover a
purchase and the financial institution loans money to complete
the payment.
Stop Payment Fee Fee charged to invalidate a check before it is cashed.
NSF Fee Fee charged if there is not enough money in an account to cover
a check payment of other purchase.
CD; Money Market; High- Examples of accounts that would be ideal for short-term large
Interest Account purchase savings
Renters Insurance An insurance policy that provides coverage for damages, within
a rental property, to renters' belongings and liability.
Discount Points A type of pre-paid interest normally paid at closing and generally
calculated to be equivalent to 1% of the total loan amount
Default The inability to make timely payments or fulfill legal obligations
of loan terms.
Equity Value of ownership interest in property.
Foreclosure A legal process in which mortgaged property is sold to pay the
loan of a defaulting borrower.
Escrow Funds to be used for specific purposes by parties carrying out a
mutual transaction, deposited with a third party.
Closing Costs Fees for final property transfer that are not included in the price
of the property.
Homeowners Insurance An insurance policy that can provide coverage for damages to a
dwelling and contents that belong to the homeowner.
Front-end Ration A rate that calculates a borrower's housing-related obligations as
a percentage of gross monthly income. AKA - Housing Ratio
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1
, 8/17/25, 3:02 AM HUD CERTIFICATION EXAM QUESTIONS AND VERIFIED ANSWERS 2025(GRADED A+) DETAILED ANSWERS!! Flashcards | …
The practice of refusing to make residential loans or
Redlining 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 passed what monumental piece of legislation,
Civil Rights Act of 1968
which prohibits discrimination in housing sales,
rentals, and financing based on race, color, national
origin, religion, sex, disability and familial status?
7 The Fair Housing Act, as amended, protects how many
characteristics?
A property manager of an apartment complex that
Reasonable Modification receives federal financial assistance installs a ramp so
that a tenant in a wheelchair can easily access her first-
floor apartment.
Housing provider has a policy of requiring tenants to
Reasonable Accommodation 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.
The Fair Housing Act does not prohibit a lender from
True
showing potential clients information about different
loans.
Provides annual funding to state and local agencies that
enforce fair housing laws that are substantially
Fair Housing Assistance equivalent to the Fair Housing Act. These funds go
Program (FHAP)
towards an agency's capacity building, administrative
costs, investigative and enforcement
efforts, training and other projects designed to support
enforcement of fair housing law.
Provides funding to fair housing organizations and
Fair Housing Initiatives
Program (FHIP) nonprofits that assist people who may have been
victims of housing discrimination.
Aim is to identify groups of people who would benefit
Marketing Analysis
most if targeted by the campaign, the characteristics
of these people, and their expectations.
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