#1
When was the Federal Housing Administration (FHA) established?
#2
Which government agency oversees the Federal Housing Administration?
Department of Commerce
Department of Housing and Urban Development (HUD)
Environmental Protection Agency (EPA)
Department of Defense
#3
What is the purpose of the Home Equity Conversion Mortgage (HECM) program under the FHA?
To provide down payment assistance
To insure reverse mortgages for seniors
To regulate home appraisals
To offer grants for home renovations
#4
What is the role of the Federal Housing Administration in disaster recovery?
To provide emergency shelter for affected homeowners
To offer grants for home reconstruction
To regulate insurance policies
To withdraw from affected regions
#5
Which factor does the FHA consider when determining the maximum loan amount for an FHA-insured mortgage?
Borrower's credit score
Borrower's income
Property location
Property size
#6
What is the primary goal of the Federal Housing Administration in the mortgage market?
To provide loans for luxury homes
To promote affordable homeownership
To regulate real estate agents
To invest in commercial properties
#7
Which type of mortgage does the FHA primarily insure?
Fixed-rate mortgage
Adjustable-rate mortgage
Interest-only mortgage
Reverse mortgage
#8
What is the purpose of the Mutual Mortgage Insurance Fund (MMIF) associated with the FHA?
To provide grants to homeowners
To insure lenders against losses
To fund luxury home constructions
To regulate interest rates
#9
Which demographic group was particularly affected by the creation of the FHA and its early policies?
Senior citizens
Millennials
African Americans
Immigrants
#10
How does the FHA support low-income borrowers in the mortgage market?
By offering high-interest loans
By providing subsidies for down payments
By excluding them from mortgage programs
By promoting luxury home purchases
#11
Which legislation expanded the role of the FHA in promoting affordable housing?
Civil Rights Act of 1964
Fair Housing Act of 1968
Patriot Act of 2001
Housing and Community Development Act of 1974
#12
How does the FHA contribute to reducing the risk for lenders in the mortgage market?
By providing mortgage insurance
By directly lending to homebuyers
By regulating interest rates
By promoting risky mortgage products
#13
What is the impact of the FHA on minority homebuyers?
No impact
Negative impact
Positive impact
Mixed impact
#14
What is the role of the FHA in times of economic downturns?
To increase interest rates
To tighten mortgage lending standards
To expand its mortgage insurance programs
To withdraw from the mortgage market
#15
How does the FHA contribute to stabilizing the mortgage market during crises?
By encouraging risky lending practices
By providing emergency grants to homeowners
By increasing down payment requirements
By offering mortgage forbearance options
#16
How does the FHA contribute to the stability of the mortgage market during economic expansions?
By reducing down payment requirements
By increasing interest rates
By withdrawing from mortgage insurance programs
By promoting speculative real estate investments
#17
What is the purpose of the Neighborhood Watch program associated with the FHA?
To monitor lenders' compliance with fair housing laws
To regulate home prices in neighborhoods
To encourage risky lending practices
To discourage homeownership in certain areas