FREE Real Estate Sales Fair Housing and Disclosures Questions and Answers

Question 1

A real estate agent is creating an advertisement for a new listing. Which of the following phrases would be a violation of the Fair Housing Act?

Accepted Answer

"Ideal for young professionals"

Answer

"Great for a growing family"

Answer

"Features a master bedroom"

Answer

"Located in a quiet, residential area"

Question 2

A prospective buyer asks their agent to only show them homes in neighborhoods where the residents are predominantly of a specific national origin. By agreeing to this request, the agent would be engaging in the illegal practice of:

Accepted Answer

Steering

Answer

Blockbusting

Answer

Redlining

Answer

Panic peddling

Question 3

Under the federal Residential Lead-Based Paint Hazard Reduction Act, which of the following is TRUE regarding the sale of a home built in 1975?

Accepted Answer

The buyer must be given a 10-day opportunity to conduct a lead paint inspection.

Answer

The seller is required to remove all known lead-based paint before closing.

Answer

The law does not apply because the home was built after 1978.

Answer

The real estate agent is solely responsible for providing the required disclosures.

Question 4

A landlord owns a four-plex and lives in one of the units. She refuses to rent to a family with children, claiming an exemption under the Fair Housing Act. Which statement is correct?

Accepted Answer

The landlord is in violation of the Fair Housing Act.

Answer

The landlord is exempt under the 'Mrs. Murphy' exemption.

Answer

The exemption applies because she does not own more than three single-family homes.

Answer

The exemption is valid as long as she does not use a real estate agent.

Question 5

Which of the following is a requirement for commercial properties under Title III of the Americans with Disabilities Act (ADA)?

Accepted Answer

Newly constructed commercial facilities must be readily accessible to and usable by individuals with disabilities.

Answer

All existing commercial buildings, regardless of age, must be immediately upgraded to meet all current ADA standards.

Answer

The ADA's requirements apply only to government-owned and operated public facilities.

Answer

Residential properties with five or more units are covered under Title III of the ADA.

Question 6

A seller completes a state-mandated property condition disclosure statement. After the buyer has received the form and the parties have signed the purchase contract, the seller discovers a new, significant leak in the roof. What is the seller's obligation?

Accepted Answer

The seller must amend the disclosure statement or otherwise inform the buyer of the newly discovered defect.

Answer

The seller has no further obligation as the disclosure was accurate when completed.

Answer

The seller should repair the leak but is not required to inform the buyer.

Answer

The seller is only required to disclose the new defect if the buyer specifically asks.