Beware Opening Quiz

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Question 1 of 7

1. Question
Under the Can-Spam Act, each separate email in violation of the law is subject to penalties of up to:
- a. $2,500
- b. $25,000
- c. $30,000
- d. $40,000+
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Question 2 of 7

2. Question
Illegal calls to numbers on the National Do Not Call Registry can currently be fined up to what dollar amount per call?
- a. $2,500
- b. $25,000
- c. $30,000
- d. $40,000+
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Question 3 of 7

3. Question
Licensee Anna recently sent several client referrals to John, her favorite lender. John would like to thank Anna for the referrals. Which would not be a violation of the Real Estate Settlement Procedures Act (RESPA)?
- a. tickets to a professional baseball game
- b. a weekend stay at a resort
- c. a gift card to Anna’s favorite restaurant
- d. a thank you note
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Question 4 of 7

4. Question
The Sherman Antitrust Act allows brokers from different companies to agree to which of the following?
- a. set a minimum commission rate for the upcoming year
- b. to not show a discount broker’s listings
- c. discuss the future development plans of the municipality
- d. to use a specific title company for all closings
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Question 5 of 7

5. Question
A buyer has discovered that he does not have the funds necessary for the down payment for the property he is under contract to purchase. The seller is very motivated to sell and offers to help with a non-disclosed second mortgage. The primary lender is not aware of this second mortgage. Is this mortgage fraud?
- a. Yes, this is a “silent second”.
- b. Yes, this is an “air loan”.
- c. No, both parties to the contract have agreed to the second mortgage. Therefore, they are not required to notify the primary lender.
- d. No, the primary lender is only required to be notified if another lender is involved
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Question 6 of 7

6. Question
Are all real estate contracts considered to be bilateral?
- a. Yes, the Statue of Frauds requires all contracts to be bilateral
- b. Yes, the MREC requires all contracts to be bilateral
- c. No, unilateral real estate contracts are permissible
- d. No, the Statue of Frauds allows for other types of contracts
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Question 7 of 7

7. Question
Which of the following is not a protected class under Federal Fair Housing Laws?
- a. religion
- b. age
- c. race
- d. sex
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