California Real Estate Exam 200 Questions And Answers Set 06
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Terms in this set
200
Federally protected classes under the Fair Housing Act
Race, color, religion, sex, national origin, familial status, and disability.
Trust Account log requirements
Date, amount, payee, purpose of payment, and running balance.
Transfer Disclosure Statement (TDS)
A mandatory form disclosing the condition of a property, required in most residential sales.
Advertising laws enforcement in CA real estate
The California Department of Real Estate (DRE).
Difference between mobilehome and manufactured home
A manufactured home is built after June 15, 1976, and meets HUD standards; a mobilehome is built before that date.
Purpose of the Natural Hazard Disclosure Statement (NHDS)
To disclose known natural hazards like flood zones, fire severity areas, and seismic zones.
Commingling in real estate
Mixing client funds with broker's personal or business funds.
Trust account records retention period
Minimum of 3 years.
Redlining
The illegal practice of denying loans based on the racial makeup of a neighborhood.
Blockbusting
Encouraging owners to sell their homes because minorities are moving into the area.