SC Unit I: License Law, Fair Housing,
Antitrust, and Ethics Exam Questions
with 100% Correct Verified Answers
What federal agency handles complaints of housing discrimination? - ANSWER If illegal
discrimination has occurred, it can be reported up to one year after the act to the
Department of Housing and Urban Development. (HUD)
What does a fair housing tester do? - ANSWER Acts as a consumer for housing to
see whether she is treated differently because of her protected class status.
Disparate treatment vs. disparate impact - ANSWER Treating people differently based
on protected class status vs. an apparently neutral practice affects a protected group
more than other groups (this is illegal discrimination)
, Price fixing - ANSWER An agreement among firms to charge one price for the
same good or services
Group boycotting - ANSWER Two or more businesses conspire against another
business or agree to withhold their patronage in an attempt to reduce competition
(illegal under antitrust law)
Tie-in arrangement - ANSWER Requiring the consumer as a condition of a transaction to
use ore not use a particular service or product (illegal under antitrust law)
Market allocation - ANSWER Occurs when competing businesses divide a
market among themselves (illegal under antitrust law)
What's the difference between law, ethics, and morals? - ANSWER Laws are made by
government to safeguard the welfare of its citizens. Ethics are dependent on wide-
ranging values. Morals are an individual's personal values.
Code of ethics - ANSWER Principles of conduct within an organization that
guide decision-making and behavior
What does the NAR code of ethics say about cooperation with other brokers? -
ANSWER Required, unless it's not in the client's best interests to cooperate
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