PSI Real Estate Exam Practice of Real Estate
QUESTIONS & ANSWERS 2024 ( A+ GRADED 100%
VERIFIED)
1. Annual Percentage Rate (APR): The total cost of financing a loan in percentage
terms, as a relationship of the total finance charges to the total amount financed.
2. Blockbusting: The illegal practice of inducing owners to sell their homes (often at
a deflated price) by suggesting that the ethnic or racial composition of the neighborhood
is changing, with the implication that property values will decline as a result. Also called
panic selling.
3. Discrimination: Treating people unequally because of their race, religion, sex,
national origin, age, or some other characteristic of a protected class, in violation of civil
rights laws.
4. Equal Credit Opportunity Act (ECOA): Federal law that prohibits
discrimination in granting credit to people based on sex, age, marital status, race, color,
religion, national origin or receipt of public assistance.
5. Familial Status: A protected group under the Federal Fair Housing Act and Ohio
Civil Rights Law, making it illegal to discriminate against a person because he or she is
the parent or guardian of a child under 18 years of age.
6. Federal Housing Administration (FHA): Government agency that insures
mortgage loans.
7. (HUD) The Department of Housing and Urban Development: government
agency that deals with housing issues.
8. Redlining: When a lender refuses to make loans secured by property in a certain
neighborhood because of the racial or ethnic composition of the neighborhood.
9. Regulation Z: Federal guidelines under the Truth-in-Lending Act that require full
disclosure of all credit terms for consumer loans.
10. Steering: Channeling prospective buyers or tenants to particular neighborhoods
based on their race, religion, national origin, or ancestry.
11. Tester: A person working with a fair housing organization, who pretends to be
interested in buying or renting property from someone suspected of unlawful
discrimination. Also called: Checker
12. Title VIII: Part of the Civil Rights Act of 1968; prohibits discrimination based on
race, color, religion, sex, national origin, disability or familial status. Also referred to as
the Federal Fair Housing Act
13. Civil Rights Act of 1866: Federal law prohibiting public and private racial
discrimination in any property transaction in the U.S.
QUESTIONS & ANSWERS 2024 ( A+ GRADED 100%
VERIFIED)
1. Annual Percentage Rate (APR): The total cost of financing a loan in percentage
terms, as a relationship of the total finance charges to the total amount financed.
2. Blockbusting: The illegal practice of inducing owners to sell their homes (often at
a deflated price) by suggesting that the ethnic or racial composition of the neighborhood
is changing, with the implication that property values will decline as a result. Also called
panic selling.
3. Discrimination: Treating people unequally because of their race, religion, sex,
national origin, age, or some other characteristic of a protected class, in violation of civil
rights laws.
4. Equal Credit Opportunity Act (ECOA): Federal law that prohibits
discrimination in granting credit to people based on sex, age, marital status, race, color,
religion, national origin or receipt of public assistance.
5. Familial Status: A protected group under the Federal Fair Housing Act and Ohio
Civil Rights Law, making it illegal to discriminate against a person because he or she is
the parent or guardian of a child under 18 years of age.
6. Federal Housing Administration (FHA): Government agency that insures
mortgage loans.
7. (HUD) The Department of Housing and Urban Development: government
agency that deals with housing issues.
8. Redlining: When a lender refuses to make loans secured by property in a certain
neighborhood because of the racial or ethnic composition of the neighborhood.
9. Regulation Z: Federal guidelines under the Truth-in-Lending Act that require full
disclosure of all credit terms for consumer loans.
10. Steering: Channeling prospective buyers or tenants to particular neighborhoods
based on their race, religion, national origin, or ancestry.
11. Tester: A person working with a fair housing organization, who pretends to be
interested in buying or renting property from someone suspected of unlawful
discrimination. Also called: Checker
12. Title VIII: Part of the Civil Rights Act of 1968; prohibits discrimination based on
race, color, religion, sex, national origin, disability or familial status. Also referred to as
the Federal Fair Housing Act
13. Civil Rights Act of 1866: Federal law prohibiting public and private racial
discrimination in any property transaction in the U.S.
