Company C reaches out to the only other company that produces a product similar to theirs (Company D). Company C offers to buy Company D, acquiring all product, customers, and employees, with the intent of remaining the only company that consumers can purchase their product from. Company D recognizes that the profit they would make from the acquisition far exceeds profit they would earn from their product alone and agrees to the purchase. Which of the federal antitrust laws has been violated?
Both the Sherman Act and the Federal Trade Commission Act
The Clayton Act
The Federal Trade Commission Act
The Sherman Act
Rosa, a licensee, has developed a reputation for anticipating her clients’ needs. She’s careful to never verbally steer clients to or away from an area. She does, however, tailor search criteria based on race, religion, and ethnicity. What discriminatory practice could Rosa be accused of as a result?
Blockbusting
Nothing
Redlining
Steering
At its most basic level, which type of antitrust violation is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point?
Group boycotting
Market allocation
Price fixing
Tie-in arrangement
Your job is to follow your client’s preferences in location and type of housing. Under fair housing laws, which of the following is illegal?
Charge a fee for services
Deny home seekers their full choice
Refuse to show homes that do not meet their stated specifications
Show buyers or tenants homes out of their price range
Which of the following scenarios depicts a listing that’s exempt from the Clear Cooperation policy?
Amira’s listing is an industrial site.
Margo’s new listing is a home on the historic registry.
Olivia listed a five-year-old residential resale.
Tucker’s residential listing is a great prospect for a fix-and-flip investor.
Which type of antitrust violation involves two or more businesses conspiring against another business?
Group boycotting
Market allocation
Price fixing
Tie-in arrangement
David, a mortgage loan originator, is assisting Kaylee in obtaining a loan so that she can purchase her first home. David advises Kaylee that ______ underwriting standards will be used to determine whether she qualifies for the loan.
International
Local
National
State
To comply with the SAFE Act, Mindy, a state-licensed mortgage loan originator, registers with the Nationwide Mortgage Licensing System. She must, among other requirements, achieve a passing score on the ______.
Appraisal certification exam
National Lender Exam
SAFE Mortgage Loan Originator Test
State real estate license exam
Paul is a mortgage loan originator. When working with a borrower who is applying for a variable rate mortgage, Paul must disclose the maximum rate the borrower could pay on the mortgage and ______.
Advise the borrower that other lenders may offer lower interest rates and fees
Caution the borrower that payments will vary based on interest rate changes
Specify the exact interest rate the borrower will pay on the mortgage in the final year of the loan
Specify the exact interest rate the borrower will pay on the mortgage in year 10 of the loan
In addition to suing, what action may borrowers who suspect their lender violated HOEPA requirements take?
A lawsuit is their only option.
Ask the court to rescind the lender’s business license.
Attach a lien to the lender’s assets.
Cancel the loan for up to three years after closing.
A licensee tells potential sellers that he heard that the neighborhood will soon have a large influx of immigrants, encouraging the potential seller to sell now while property values are high. How could these actions be termed?
Blockbusting
Redlining
Steering
Structuring
XYZ Lending Co. has engaged in predatory lending practices. By doing so, it could have significant financial penalties levied against it by the ______.
Consumer Financial Protection Bureau
US Congress
US Department of Labor
US Treasury
Which of the following statements about concerns with limited exposure marketing practices is true?
Breach of fiduciary lawsuits have not been a concern with limited exposure marketing practices.
In the past, brokers have used pocket listings to market properties to a narrow market.
Licensees have submitted “coming soon” listings to their local MLS before the properties were ready for market.
Seller privacy should never be a factor.
What federal law attempted to eliminate discrimination caused by blockbusting, steering, and redlining?
Civil Rights Act of 1866
Fair Housing Act of 1968
Housing Discrimination Act of 1974
HUD Act of 1961
Which of the following loans would be subject to HOEPA regulations?
A closed-end home equity loan
A high interest car loan
A high interest credit card
A seller-financed loan