PSI Real Estate Exam Practice of Real Estate.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20Real%20E
PSI Real Estate Exam: Practice of Real Estate
1. Annual Percentage Rate (APR): The total cost of financing a loan in percentage
terms, as a relationship of the total finance charges to the total amount financed.
2. Blockbusting: The illegal practice of inducing owners to sell their homes (often at
a deflated price) by suggesting that the ethnic or racial composition of the
neighborhood is changing, with the implication that property values will decline as a
result. Also called panic selling.
3. Discrimination: Treating people unequally because of their race, religion, sex,
national origin, age, or some other characteristic of a protected class, in violation of
civil rights laws.
4. Equal Credit Opportunity Act (ECOA): Federal law that prohibits discrimination
in granting credit to people based on sex, age, marital status, race, color, religion,
national origin or receipt of public assistance.
5. Familial Status: A protected group under the Federal Fair Housing Act and Ohio
Civil Rights Law, making it illegal to discriminate against a person because he or she
is the parent or guardian of a child under 18 years of age.
6. Federal Housing Administration (FHA): Government agency that insures mort-
gage loans.
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