Legal Aspects of Real Estate Ch. 13 Fair
Housing Laws UPDATED ACTUAL Exam
Questions and CORRECT Answers
What Act prohibits lenders from discriminating against applicants on the basis of race, color,
religion, national origin, sex, marital status, age or dependency on public assistance? -
CORRECT ANSWER - The Equal Credit Opportunity Act
How long does a lender have to inform an applicant that he or she was rejected for a home loan?
- CORRECT ANSWER - 30 days
What is defined as advertising that indicates a preference, limitation or discrimination based on
race, color, religion, handicap, sex, familial status or national origin? - CORRECT
ANSWER - Discriminatory advertising
What Act was passed in 1977 to prevent redlining and to encourage banks and thrifts to help
meet the credit needs of all segments of their communities? - CORRECT ANSWER - The
Community Reinvestment Act
What 1977 Act prohibits financial institutions from discriminating in loan activities on the basis
of race, color, religion, marital status, national origin ancestry or sex? - CORRECT
ANSWER - The Housing Financial Discrimination Act
What is defined as a simulated housing transaction designed to obtain evidence of different
treatment based on an individual's protected class status? - CORRECT ANSWER -
Testing
When a licensee induces someone to sell his or her property by telling him or her that persons of
a certain protected class are moving into the neighborhood it is called - CORRECT
ANSWER - panic selling.
Housing Laws UPDATED ACTUAL Exam
Questions and CORRECT Answers
What Act prohibits lenders from discriminating against applicants on the basis of race, color,
religion, national origin, sex, marital status, age or dependency on public assistance? -
CORRECT ANSWER - The Equal Credit Opportunity Act
How long does a lender have to inform an applicant that he or she was rejected for a home loan?
- CORRECT ANSWER - 30 days
What is defined as advertising that indicates a preference, limitation or discrimination based on
race, color, religion, handicap, sex, familial status or national origin? - CORRECT
ANSWER - Discriminatory advertising
What Act was passed in 1977 to prevent redlining and to encourage banks and thrifts to help
meet the credit needs of all segments of their communities? - CORRECT ANSWER - The
Community Reinvestment Act
What 1977 Act prohibits financial institutions from discriminating in loan activities on the basis
of race, color, religion, marital status, national origin ancestry or sex? - CORRECT
ANSWER - The Housing Financial Discrimination Act
What is defined as a simulated housing transaction designed to obtain evidence of different
treatment based on an individual's protected class status? - CORRECT ANSWER -
Testing
When a licensee induces someone to sell his or her property by telling him or her that persons of
a certain protected class are moving into the neighborhood it is called - CORRECT
ANSWER - panic selling.
