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Marketing Regulations Exam Prep

Marketing Regulations Exam Prep

A broker informs a homeowner that a member of a minority group may be moving into the neighborhood. The broker sees that the homeowner is very upset, and offers to buy his house at a low price. The broker is guilty of:
- None of the answers
- Redlining
- Blockbusting
- Steering
You are about to buy a house that has been built prior to 1978. What disclosure should be given to you by the seller?
- A lead-based paint disclosure form
- All of these answers
- A closing disclosure
- A Miranda warning
The agency of the Federal government that administers fair housing laws is:
- ARELLO
- HUD
- AIREA
- VA
Commingling refers to:
- Employing Realtors and the non-Realtors in the same office
- Meetings with both brokers and sales associates present
- Depositing client funds in the broker operating account
- Cooperating with another broker in a transaction
In a suit brought under the Federal Fair Housing Law as amended, punitive damages may be as much as:
- $10,000
- There is no limit on punitive damages
- $1,000
- $50,000
A licensee commits steering if:
- All answers choices given
- He or she steers clients into a particular neighborhood because of race, religion etc
- He or she directs prospective clients to another licensee of their own national origin or color
- He or she directs prospective tenants away from a certain neighborhood because of the racial make-up of that neighborhood
Under the Federal Fair Housing Act of 1968, it is permissible to:
- Alter the terms of the loan for a member of a minority
- Tell an individual that an apartment has been rented when in fact it has not
- Refuse to give a loan to an individual because he has poor credit history
- Advertise property for sale only to a special group
A real estate licensee needs to have:
- A broad understanding of law and how it affects real estates
- An in-depth understanding of constitutional law
- Legal experience as a practicing lawyer
- Little understanding of law because competent attorneys are available
An illegal act that encourages homeowners to sell their property because minorities are moving into the neighborhood is:
- Panic buying
- Redlining
- Steering
- Blockbusting
The sources of law that affect real estate transactions and activity are:
- Court decisions
- State and federal legislations
- Local ordinances passed by towns, cities, and villages
- All answers choices given

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High Point

2212 Eastchester Dr,

High Point, NC 27265

Kernersville

202 W Mountain St

Kernersville, NC 27284

Lexington

7224 Old U.S. Hwy 52

Lexington, NC 27295

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