Florida Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

Regulation Z codifies the rules of the ______.

  1. Equal Credit Opportunity Act

  2. Home Mortgage Disclosure Act

  3. Real Estate Settlement Procedures Act

  4. Truth in Lending Act

The correct answer is: Truth in Lending Act

Regulation Z, also known as the Truth in Lending Act, implements and adds additional details to the law requiring lenders to disclose the cost and terms of credit. The Equal Credit Opportunity Act (A) prohibits credit discrimination based on race, color, religion, national origin, sex, marital status, age, or because you receive public assistance. The Home Mortgage Disclosure Act (B) ensures that lenders provide information about their lending practices, including data on the geographic distribution of their residential loans. The Real Estate Settlement Procedures Act (C) requires lenders to provide certain disclosures to borrowers regarding the costs of closing and prohibits certain practices such as kickbacks. While all of these laws are important to consumer lending, Regulation Z specifically focuses on the disclosure of credit terms and costs, making D the correct answer.

More Questions Like This