Real Estate FEDERAL LAW AND REGULATION

Question 1

A broker has contacted owners in a certain subdivision and advised them that several members of a particular race have bought homes in the area. The broker has offered to list properties at a reduced rate and encouraged the owners to sell quickly. This is:

C. Blockbusting (D) Any of the above D. A mutual fund Any of the above

Correct Answer:

C. Blockbusting

Explanation:

Correct answer: C. Blockbusting

Question 2

The 1968 Fair Housing Act, as amended, prohibits housing discrimination on the basis of:

D. Race, color, religion, national origin, sex, familial status, or handicap D. Toilet repairs on multiple units Realized selling price minus the adjusted tax basis Any of the above

Correct Answer:

D. Race, color, religion, national origin, sex, familial status, or handicap

Explanation:

Correct answer: D. Race, color, religion, national origin, sex, familial status, or handicap

Question 3

A tax deduction for business property that requires no cash outlay is:

Pays no federal income tax C. Mortgage interest and property taxes B. If action is taken within one year of the alleged discriminatory act C. Depreciation expense

Correct Answer:

C. Depreciation expense

Explanation:

Correct answer: C. Depreciation expense

Question 4

The federal income tax exemption on the gain from the sale of a personal residence held long enough by a married couple is up to:

B. Families with children under age 18 A long-term capital gain of $105,000 in the year of sale (C) $250,000 $500,000

Correct Answer:

$500,000

Explanation:

Correct answer: D. $500,000

Question 5

When a salesperson’s agreement with a broker is to be an independent contractor, the broker:

D. Does not withhold federal taxes or social security D. Any of the above B. If action is taken within one year of the alleged discriminatory act Adjusted tax basis

Correct Answer:

D. Does not withhold federal taxes or social security

Explanation:

Correct answer: D. Does not withhold federal taxes or social security

Exam overview

About this Exam

Prepare with the Real Estate FEDERAL LAW AND REGULATION practice quiz. This question bank includes 41 questions covering income, federal, broker, gain, and housing. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Real Estate FEDERAL LAW AND REGULATION

This practice set contains 41 questions from the matching question bank and focuses on income, federal, broker, gain, and housing. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Real Estate FEDERAL LAW AND REGULATION

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