Advertising Laws in Real Estate Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. A former employee sued his company for patent infringement. He claimed that they were trying to establish a monopoly and that they cost him his life's savings. The jury ruled in his favor and decided the company needed to pay him $20 million. The court chose to use a provision of the Clayton Act called treble damages, meaning that the company had to pay _____.

Question 2 2. Technoprinters developed a new printer that everyone wants. The printer can only use the ink cartridges that they manufacture. As a result, people must buy complementary products from them. Why is this illegal?

Question 3 3. Which of the following is NOT a way businesses can alter competition?

Question 4 4. Sam, Mike, and Maurice all own drywall companies. They want to be able to win every bid. They decide that one of them will submit a low bid, while the other two submit higher prices. They take turns doing this, so each of them will get the job at some point in time. What is this called?

Question 5 5. Why is market allocation considered harmful to the market?

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Question 6 6. The text of Regulation Z can be found in which set of laws?

Question 7 7. Which of the following is the general principle behind the Truth in Lending Act?

Question 8 8. Which of the following statements regarding the Truth in Lending Act and Regulation Z is true?

Question 9 9. Which of the following statements is true of the annual percentage rate?

Question 10 10. Which two pieces of information must lenders disclose to borrowers under the Truth in Lending Act?

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Question 11 11. What does minimum services mean for real estate agents?

Question 12 12. You are working with a client that says she doesn't want you to tell anyone about the problem with the foundation. Why must you disclose this to potential buyers?

Question 13 13. How can an agent abide by real estate advertising laws?

Question 14 14. Real estate agents must offer at least minimum services to their clients. What is an example of a minimum service?

Question 15 15. Can an agent give a portion of his or her commission to a client after closing?

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Question 16 16. Larry is a seller who fails to disclose that his house contains lead paint (as required by federal law). However, Larry never affirmatively makes a statement that the house is lead-free. What is Larry guilty of?

Question 17 17. What type of fraud doesn't require an intentional misrepresentation but does require a breach of a special duty owed to the person harmed?

Question 18 18. Sarah tells her client that the Victorian style home she is showing is the most beautiful Victorian house in the city. What act has Sarah committed?

Question 19 19. Debbie is representing a seller. At an open house, a prospective buyer asks Debbie a series of questions about the house, including why the sellers are selling. Debbie answers all the questions except her seller's motivation, because she has been instructed by her clients not to disclose that they are undergoing financial difficulties. What is Debbie guilty of?

Question 20 20. Nancy is representing a seller and is showing the house to a prospective buyer. Nancy tells the prospective buyer that the house has four bedrooms. However, the room in the basement isn't a 'legal' bedroom because there isn't an egress window required for basement bedrooms according to the local building code. Nancy knows this but makes the statement anyway. What's Nancy guilty of?

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Question 21 21. When a licensee is advertising through online communications, which of the following is NOT required:

Question 22 22. The ideal (and most popular) medium for real estate advertising today is:

Question 23 23. When advertising real property online, which of the following information is NOT required?

Question 24 24. When a firm is advertising through online communications, which of the following is NOT required?

Question 25 25. When advertising brokerage services online, which of the following is NOT required?

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Question 26 26. Can a real estate ad include how many persons can live in a house?

Question 27 27. Anyone who acts as an agent on behalf of another person to perform their services must abide by:

Question 28 28. What act would prohibit the owner of a single family home from only selling the home to someone based on race, gender, and nationality?

Question 29 29. Real estate agents are required to look after the best interest of their clients. What should the agent do if he/she believes the sales price of a property should be advertised lower than is stated in the listing contract ?

Question 30 30. The Federal Housing Act instituted the Equal Housing Opportunity logo for the purpose of:

Advertising Laws in Real Estate Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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