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Session 6 Test

Enter the letter for the matching Answer
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1.
Fair Credit Reporting Act (FCRA)
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2.
Civil Rights Act of 1866
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3.
Interstate Land Sales Full Disclosure Act
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4.
Truth in the Lending Act (Regulation Z)
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5.
Consumer Financial Protection Bureau (CFPB)
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6.
Federal Fair Housing Act of 1968
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7.
Annual Percentage Rate (APR)
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8.
Fair Housing Amendments Act of 1988
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9.
Real Estate Settlement and Procedures Act (RESPA)
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10.
Equal Credit Opportunity Act (ECOA)
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11.
Consumer Privacy Act of 1974
A.
A law that prohibits discrimination in all facets of the home buying process on the basis of race, color, national origin, religion, sex, familial status, or disability
B.
A federal law that establishes a code of fair information practices that governs the collection, maintenance, use, and dissemination of information about individuals.
C.
Federal Law requiring disclosure of the terms of the credit by a creditor to a prospective borrower.
D.
Federal law dealing with real estate closings that provides specific procedures and guidelines for the disclosure of settlement costs.
E.
An agency funded by the Federal Reserve with rule making and enforcement authority over many consumer financial laws, including the truth in lending act and the real estate settlement procedures act.
F.
A Federal Law that protects consumers from fraud and abuse in the sale or lease of land.
G.
The relationship between the cost of borrowing and the total amount finances, represented as a percentage.
H.
I.
Federal Law that prohibits discrimination in granting credit to people based on sex, age, marital status, race, color, religion, national origin, or receipt of public assistance.
J.
A Federal Law that regulates the collection of consumers credit information and access to their credit reports
K.
A federal Law that prohibits discrimination based on race, color, or ancestry without exception.
Type the Question that corresponds to the displayed Answer.
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12.
A lender disclosure containing a "good faith estimate" of closing costs, loan terms, and the cost that the borrower must pay for a real estate loan, including the APR.
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13.
The illegal process of a lender denying loans in certain areas of a community because of race, color, creed, etc
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14.
A statement prepared by the lender itemizing loan costs and terms as required for RESPA related transactions
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15.
A residential property where a small number of unrelated people in need of care, support, or supervision can live together
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16.
An Illegal act whereby owners are encouraged to sell their properties because minorities are moving to their neighborhood. Also called panic selling or panic peddling.
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17.
A word of phrase that describes a loan, including the down payment, terms, and monthly payment. If an ad uses a trigger term additional disclosures are required to comply with the truth in lending act.
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18.
A protected group under the federal fair housing act, making it illegal to discriminate against persons because they are the parent or guardian of a child less than 18 years of age, or because they are pregnant.
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19.
Channeling prospective buyers or tenants to particular neighborhoods based on race, religion, nation origin, ancestry, or other legally protected class.
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20.
A physical or mental impairment that substantially limits or curtails one or more major life activities.

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