Fair HousingIntermediateNorth Carolina Exam

A 55-and-older community in North Carolina is exempt from familial status provisions IF:

AAll residents are at least 55 years old

BAt least 80% of occupied units have one person aged 55 or older and the community publishes age-qualifying policiesCorrect

CThe development was built before 1970

DThe community is located in a rural area, though specific requirements can vary depending on the transaction details

Why At least 80% of occupied units have one person aged 55 or older and the community publishes age-qualifying policies Is Correct

Answer B: At least 80% of occupied units have one person aged 55 or older and the community publishes age-qualifying policies

To qualify for the 55-and-older housing exemption, at least 80% of occupied units must have at least one resident aged 55 or older, and the community must publish and follow policies demonstrating intent to be senior housing.

Exam Tip: Fair Housing

Fair Housing questions test both federal (Fair Housing Act of 1968) and state-level protected classes. The federal protected classes are race, color, religion, national origin, sex, familial status, and disability. Many states add additional protections.

People Also Study

Key Terms to Know

Fair Housing Act

Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.

Earnest Money

A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.

Steering

An illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.

Blockbusting

An illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.