Explanation: The Civil Rights Act of 1866 prohibits housing discrimination based on race or color, with no exceptions. It did not abolish slavery (that was the 13th Amendment in 1865), it does not address sexual orientation, and it is not a United Nations act.

Explanation: Blanket mortgage is specifically designed to cover two or more properties under a single loan, often used by builders and developers. An oversecured loan isn’t a loan type but simply describes when collateral exceeds the loan amount. A package mortgage includes both real property and personal property (such as appliances) as collateral, not multiple properties. A wrap-around mortgage incorporates an existing loan into new financing but doesn’t allow multiple properties to serve as collateral. Thus, the only loan type fitting this situation is the blanket mortgage.

Explanation: The instruments most commonly used to secure the purchase of real property are a promissory note and a mortgage. The promissory note is the borrower’s written promise to repay the loan, while the mortgage serves as the security instrument giving the lender rights to the property if repayment fails. A deed of trust and promissory note serve the same function in some states but are not used together with a mortgage. A mortgage and deed of trust are alternatives, not combined instruments, and a mortgage and lease have no connection in securing property financing.

Explanation: In Virginia, an individual may own up to four single-family houses and still be exempt from fair housing laws. Owning five exceeds the exemption limit, while two or three understate the actual threshold allowed. This exemption is narrow and comes with conditions, but four is the maximum number permitted.

Explanation: Need $370,000 net; divide by 0.93 ~ $397,849; closest choice is $396,450; others are far too low.