Real Estate Practice Exam Questions And Answers Graded A+

A real estate company represents a motel owner who wishes to list one of his motels for sale. The owner has told the listing agent that he does not want to sell the motel to any racial minorities. Which statement is TRUE? A) Because this is not a sale of a residential dwelling under the Fair Housing Act, the listing agent may honor the owner's instructions. B) To refuse to sell or lease any real property based on a party's race is a violation of the federal Civil Rights Act of 1866. C) It is a violation of the Fair Housing Act to abide by the owner's wishes. D) The listing agent may not refuse to show or sell the motel to a minority buyer; however, the owner may refuse to sell to certain individuals if he sells the property "for sale by owner." {Ans: B) To refuse to sell or lease any real property based on a party's race is a violation of the federal Civil Rights Act of 1866.}Which element is NOT essential in a valid real estate sale contract? A) A legal objective or purpose B) The vendor's signature C) Competent parties D) An earnest money