Florida Real Estate Practice Exam

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Financial institutions must make credit available without discrimination of race in accordance with

  1. The Civil Rights Act of 1866

  2. The Real Estate Procedures Act

  3. The Truth in Lending Act

  4. The Equal Credit Opportunity Act

The correct answer is: The Equal Credit Opportunity Act

Financial institutions are prohibited from discriminating based on race in their lending practices by the Equal Credit Opportunity Act (ECOA). The Civil Rights Act of 1866 prohibits discrimination in the sale or rental of housing, but not specifically in credit lending. The Real Estate Procedures Act (RESPA) mainly deals with disclosures and settlements in home purchases, and the Truth in Lending Act (TILA) focuses on regulating credit and loan disclosures. Therefore, options A, B, and C are incorrect as they do not specifically address race-based discrimination in credit lending practices.

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