Fair Housing, Practice, and Disclosures Practice Question
Question
A closing coordinator flags an issue before settlement for the Illinois Real Estate Broker Exam involving redlining and Illinois broker licensing structure. What should the licensee understand? (Item 149)
Answer choices
- A. Recognize discriminatory lending or service denial based on area characteristics in a way that fits Illinois exam practice.
- B. The requirement matters only when the buyer obtains institutional financing.
- C. The affiliated licensee may handle the matter independently without broker responsibility.
- D. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
Correct Answer
A. Recognize discriminatory lending or service denial based on area characteristics in a way that fits Illinois exam practice.
Explanation
The correct answer is A because redlining requires candidates to recognize discriminatory lending or service denial based on area characteristics. The Illinois reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Fair Housing, Practice, and Disclosures
- Objective: redlining