Question: Question 1 & Explain If Possible A broker allowed one of her licensees to complete an entire sale on his own, as she did NOT

Question 1 & Explain If Possible

A broker allowed one of her licensees to complete an entire sale on his own, as she did NOT want to be bothered with checking paperwork. The licensee unknowingly completed a fraudulent sale with straw buyers. The broker

A - is not responsible because she never saw the deal.

B - is responsible because she is supposed to supervise.

C - is responsible if her manual for licensees did not specifically prohibit this behavior.

D - is not responsible as long as she provided a manual for licensees that clearly prohibited this behavior.

Question 2 & Explain If Possible

A loan applicant has no funds for a down payment but has income in the form of public assistance sufficient to repay the loan. What law prevents discrimination by the lender towards the loan applicant due to the source of her income?

A - Real Estate Settlement Procedures Act (RESPA)

B - Truth in Lending Act

C - Equal Credit Opportunity Act

D - Community Reinvestment Act of 1977

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