Real Estate 20 multiple choice, business and finance homework help

1. A couple with an eight-year-old boy would like to move into the Uppin Arms apartments. They ask the property manager if he knows whether any sex offenders live in the area. The manager assumes that some do, but has no actual information about it. He should:

   	a.	refer the couple to the local law enforcement agency or website that has this information
   	b.	assure them that he would never rent to a registered sex offender, under any circumstances
   	c.	reply, “Not to the best of my knowledge”
   	d.	refuse to answer on the grounds that sex offenders are a protected class

1 points

QUESTION 2

1. A property management firm manages a large office park. The firm employs a full-time maintenance crew of ten people in the park. Building 14 is undergoing substantial exterior renovation. One of the men on the crew complains about unwanted romantic invitations and lewd comments by an employee of the tenant in Building 14. The property manager tells his worker “to get over it.” The worker then threatens action under Title VII of the Civil Rights Act of 1964. Which of the following statements is true?

   	a.	Title VII protects women from sexual harassment, but not men
   	b.	The manager has no responsibility for the actions of the tenant under Title VII
   	c.	Title VII prohibits discrimination based on sex (gender), but sexual harassment is not considered discrimination based on sex
   	d.	None of the above

1 points

QUESTION 3

1. A property manager handles the properties listed below. For which of these properties does he have to make disclosures under the lead-based paint disclosure law?

   	a.	A single-family residence built in 1977
   	b.	A duplex built in 1979
   	c.	An apartment building that has only studio units, built in 1949
   	d.	A loft apartment in a building converted and completely renovated in 1999

1 points

QUESTION 4

1. All of the following are exempt from the ADA, except:

   	a.	a private men’s club
   	b.	the meeting place of a church youth group
   	c.	a dentist’s office in a small commercial building
   	d.	a residential triplex

1 points

QUESTION 5

1. Doreen has been an administrative assistant at a large property management firm for many years. She and her husband just learned that he is terminally ill; he’s expected to die in six months or less. Doreen would like to take a leave of absence from her job in order to spend more time with her husband and take care of him until his death, but her employer’s policies don’t provide for any leave in this type of situation. The unemployment rate is high and Doreen is middle-aged, so she’s afraid to simply quit her job. Which of the following is true?

   	a.	Whether Doreen has a right to take a leave of absence depends on state law
   	b.	Under federal law, Doreen’s employer must allow her to take up to 12 weeks of unpaid leave to care for a family member
   	c.	Under federal law, Doreen’s employer must allow her to take up to 12 weeks of paid leave to care for a family member
   	d.	Under federal law, Doreen’s employer must allow her to take up to six months of unpaid leave to care for a family member, but there’s no guarantee that her job will be waiting for her when the leave ends

1 points

QUESTION 6

1. Executives from two competing firms that manage commercial property in several Midwestern cities meet at a seminar and end up discussing their management fee rates. This could give rise to charges of:

   	a.	market allocation
   	b.	market efficiency
   	c.	price fixing
   	d.	None of the above; this is not an antitrust violation

1 points

QUESTION 7

1. Judd runs a property management firm. He assigns smaller office properties to one manager and larger properties to another. This is:

   	a.	illegal match fixing
   	b.	illegal market allocation
   	c.	an illegal tie-in arrangement
   	d.	a reasonable business practice allowed by the Sherman Act

1 points

QUESTION 8

1. Karen wants to rent space for her small business. One summer afternoon she looks at a space that has two offices with a reception area. The leasing agent showing Karen the premises forgets to mention that the heater in one of the offices doesn’t work. The agent has failed to disclose a:

   	a.	nonmaterial fact
   	b.	latent defect
   	c.	material fact
   	d.	Both b) and c)

1 points

QUESTION 9

1. Raoul manages a large Victorian-era house that is split up into several apartments. The bottom floor is rented to an older, long-term tenant who pays a high rent. A vacancy opens up on the second floor above this tenant, and a woman with a young boy applies for the space. The last time Raoul rented this space to someone with a child, his long-term tenant threatened to move out. Raoul may reject the woman’s application:

   	a.	under no circumstances
   	b.	as long as there is sufficient alternative housing nearby
   	c.	if she doesn’t meet the financial standards that Raoul applies to all applicants
   	d.	if none of the current residents have young children

1 points

QUESTION 10

1. The ADA would prohibit:

   	a.	deciding not to hire a property manager because she is missing a thumb
   	b.	lack of a restroom that can accommodate a wheelchair, in the offices of a property management firm
   	c.	refusing to rent an apartment to a blind tenant because of his service dog
   	d.	Both a) and b)

1 points

QUESTION 11

1. The Americans with Disabilities Act doesn’t apply to a business unless it has at least:

   	a.	5 employees
   	b.	15 employees
   	c.	25 employees
   	d.	50 employees

1 points

QUESTION 12

1. The Fair Credit Reporting Act applies:

   	a.	only to residential lease transactions
   	b.	only to commercial lease transactions
   	c.	to both residential and commercial lease transactions
   	d.	only to sales transactions involving mortgage financing, not to leases

1 points

QUESTION 13

1. The Fair Labor Standards Act regulates:

   	a.	the amount of leave a worker can take for family reasons
   	b.	accommodation of the disabled in employment
   	c.	overtime hours and minimum wage
   	d.	safety in the workplace

1 points

QUESTION 14

1. The basement of an office building built in the 1960s contains a large heating oil tank. Beginning in 1990, the tank started leaking into fine cracks in the floor and from there into the ground. In 1997, ownership of the building changed hands. Which of the following parties might be held liable under CERCLA for a cleanup of the tank, the cement floor, and the contaminated soil?

   	a.	The owner of the property at the time when the leak began
   	b.	The current property owner
   	c.	Future owners of the property
   	d.	All of the above

1 points

QUESTION 15

1. The law that prohibits discrimination based on race or color in all real estate transactions is:

   	a.	the federal Fair Housing Act
   	b.	the 14th Amendment
   	c.	the Civil Rights Act of 1866
   	d.	the Sherman Act

1 points

QUESTION 16

1. What are laws passed by a state legislature called?

   	a.	Case law
   	b.	Ordinances
   	c.	Statutes
   	d.	Administrative regulations

1 points

QUESTION 17

1. When screening an applicant for an apartment vacancy, does the manager have to check the applicant’s name against the SDN list?

   	a.	Yes
   	b.	Yes, if the applicant authorized a background check
   	c.	No, the Patriot Act doesn’t apply to residential properties
   	d.	No, checking rental applicants’ names is recommended, but not required

1 points

QUESTION 18

1. Which agency enforces the Fair Housing Act?

   	a.	HUD
   	b.	EEOC
   	c.	EPA
   	d.	FHA

1 points

QUESTION 19

1. Which of the following is a protected class under the federal Fair Housing Act?

   	a.	Sexual orientation
   	b.	Age
   	c.	Marital status
   	d.	Sex

1 points

QUESTION 20

1. Which of the following is a nonconforming use?

   	a.	A mother-in-law apartment that a homeowner builds on the sly without getting a building permit
   	b.	A manufacturing plant that makes engine blocks, located in an area that the city decides to zone light industrial
   	c.	An old office building that no longer meets the sprinkler requirements of the fire code
   	d.	An old restaurant building that the city has foreclosed on for nonpayment of taxes