CA_Principles_Chapter_14_Quiz - Principles of California...

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Principles of California Real Estate Chapter 14 Quiz 1. When a deed contains racial covenants, they can be removed and a new grant deed drafted: A. if the language is offensive and/or restrictive B. only upon action at law C. only if the deed was executed prior to 1978 D. only if the title company deems the language offensive and/or restrictive 2. A seller lists her home for sale, and her broker subsequently submits to her a full-price offer from a ready, willing, and able buyer. The seller refuses the offer and tells the broker it's because the buyer is black. The broker may: A. tell the seller that she is in violation of the Fair Housing Act B. sue the seller for his full commission C. inform the buyer of his right to file a complaint with HUD D. All of the above 3. A broker brings his seller an offer from a potential buyer. If the seller inquires into the race of the potential buyer, the broker: A. must disclose this information to the seller B. may disclose this information as long as it will not affect the seller's decision C. may disclose the information after obtaining permission from the buyer D. may not disclose this information because to do so would violate the Rumford Act 4. A seller lists his home at a price about 10% above fair market value, requiring minority buyers to pay the listed price, but allowing his broker to negotiate with other buyers to pay lower amounts. This: A. does not violate the Fair Housing Act because minority buyers are not asked to pay more than the listed price B. would violate the Fair Housing Act only if an FHA or VA loan is involved
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This note was uploaded on 09/06/2011 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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CA_Principles_Chapter_14_Quiz - Principles of California...

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