NYREI FINAL EXAM REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE

NYREI FINAL EXAM REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE tester - ANSWER- the only and fair way to police the real estate industry is through ... civil rights act of 1866 - ANSWER- was the first major effort of the federal government to guarantee equal housing to all US citizens fair housing act - ANSWER- provided that it is unlawful to discriminate on the basis of race, color, religion, or national origin when selling or leasing residential property familial status - ANSWER- means a parent or guardian who has legal custody of children uner the age of 18 and pregnant woman handicapped status - ANSWER- is a physical or mental impairment which limits one or more of a persons life activities title viii - ANSWER- prohibits owners from refusing to allow tenants to make reasonable structural modifications to a unit, at the tenants expense, to allow the handicapped tenant full enjoyment of the unit` no - ANSWER- Does the fair housing act pre-empt local zoning laws steering - ANSWER- channeling perspective buyers or renters to or away from specific neighborhoods based on their race, religion, nation origin, or other protected class, to maintain or change the character of the neighborhood blockbusting - ANSWER- is inducing or attempting to induce, for profit, ant person to sell or rent property based on representations made regarding entry into the neighborhood of persons of particular race, color, religion, sex, or national origin and it is prohibited under federal and state law redlining - ANSWER- is discriminating against anyone by commercial lender in making a loan, for buying, building, repairing, improving, or maintaining a dwelling, or in the terms of such financing filtering down - ANSWER- neighborhoods that decrease in value because it was impossible to get loans for renovations and fixings new york state division of human rights - ANSWER- the mission of the agency is to ensure that every individual has an equal opportunity to participate fully in the economic, cultural and intellectual life of the state property insurance - ANSWER- is coverage that indemnifies a person with an interest in the property for a loss caused to the property by covered peril liability - ANSWER- which is coverage in case of a lawsuit filed by another person claiming bodily injury or damage to property liability insurance - ANSWER- insures the individual for financial losses that may arise out of the persons responsibilities to others imposed by law or contract dwelling policy - ANSWER- cover a direct loss to physical property as well as an indirect loss that results because the insured cannot use the property after it is damaged. direct loss - ANSWER- is one that happens suddenly due to a covered peril-such as fire, lightning, wind, hail etc indirect loss - ANSWER- is one that occurs as a consequence of the direct loss peril - ANSWER- anything that can cause a lose named peril policy - ANSWER- each peril is listed and named all risk policy - ANSWER- the insured has coverage for all direct risk of physical loss; therefore, everything is covered unless the peril is specifically excluded actual cash value - ANSWER- replacement cost-depreciation replacement cost basis - ANSWER- paid in full without any depreciation, up to the policy limits, less any deductible new york property insurance underwriting association - ANSWER- created in 1968, developed the FAIR plan to ensure that affordable property insurance is available without consideration of location, provided the property meets minimal underwriting insurability standards blanket property insurance - ANSWER- provides a single amount of insurance that may apply to different types of property or to different locations. umbrella policies - ANSWER- provide very high limits of liability and broad coverage for a very reasonable premium charge