Illinois leasing agent chapter 2 Test
Questions and Answers.
Stigmatized property - Answer A property that has an undesirable reputation because a
violent crime or suicide occurred in the property.
Antitrust - Answer Laws designated to preserve the free enterprise of the open marketplace
by forbidding certain private conspiracies and combinations created to minimize competition.
Material Defect - Answer Facts about a property that could influences a buyer's decision to
make an offer.
Lead-Based Paint Hazard Reduction Act - Answer Persons selling or leasing property built
before 1978 must disclose the known presence of lead-based paint and provide any relevant
records.
Mold - Answer Fungi that can found almost anywhere and can grow on almost any organic
substance.
RESPA - Answer The federal law that requires certain disclosures about mortgage loan
settlements and prohibits kickbacks and certain kinds of referral fees.
CAN-SPAM - Answer Law that establishes requirements for commercial email, including
eBlasts.
Do-Not-Call Registry - Answer The federal law that allows consumers to register their phone
numbers to alleviate calls from telemarketers.
Fair Credit Reporting Act - Answer The law that spells out the responsibilities of users of
credit information.
Radon - Answer A naturally occurring gas that is suspected of causing lung cancer.
Opt-out - Answer The right of a consumer to stop commercial emails from being sent to the
Price fixing and boycott issues are the two components of the Sherman Act which passed in
1890. T F - Answer True
Questions and Answers.
Stigmatized property - Answer A property that has an undesirable reputation because a
violent crime or suicide occurred in the property.
Antitrust - Answer Laws designated to preserve the free enterprise of the open marketplace
by forbidding certain private conspiracies and combinations created to minimize competition.
Material Defect - Answer Facts about a property that could influences a buyer's decision to
make an offer.
Lead-Based Paint Hazard Reduction Act - Answer Persons selling or leasing property built
before 1978 must disclose the known presence of lead-based paint and provide any relevant
records.
Mold - Answer Fungi that can found almost anywhere and can grow on almost any organic
substance.
RESPA - Answer The federal law that requires certain disclosures about mortgage loan
settlements and prohibits kickbacks and certain kinds of referral fees.
CAN-SPAM - Answer Law that establishes requirements for commercial email, including
eBlasts.
Do-Not-Call Registry - Answer The federal law that allows consumers to register their phone
numbers to alleviate calls from telemarketers.
Fair Credit Reporting Act - Answer The law that spells out the responsibilities of users of
credit information.
Radon - Answer A naturally occurring gas that is suspected of causing lung cancer.
Opt-out - Answer The right of a consumer to stop commercial emails from being sent to the
Price fixing and boycott issues are the two components of the Sherman Act which passed in
1890. T F - Answer True
