The penalty for anyone who violates any provision of RESPA is

Study for the California Escrow Exam. Dive into detailed content with flashcards and multiple choice questions, accompanied by explanations and hints. Ensure your success on test day!

Multiple Choice

The penalty for anyone who violates any provision of RESPA is

The penalty for violating any provision of RESPA includes both civil and criminal consequences, and they apply per violation. Civil penalties can be up to $10,000 for each violation. Criminal penalties can include a fine of up to $10,000 and/or imprisonment for up to one year for each violation. The “and/or” phrasing means both penalties can apply, not just one or the other. So the best choice reflects both the monetary and potential jail aspects, per violation. The other options don’t fit because one assigns an incorrect fine amount, one suggests either a fine or imprisonment but not both, and the last option is a cease-and-desist remedy rather than a penalty.

The penalty for violating any provision of RESPA includes both civil and criminal consequences, and they apply per violation. Civil penalties can be up to $10,000 for each violation. Criminal penalties can include a fine of up to $10,000 and/or imprisonment for up to one year for each violation. The “and/or” phrasing means both penalties can apply, not just one or the other. So the best choice reflects both the monetary and potential jail aspects, per violation. The other options don’t fit because one assigns an incorrect fine amount, one suggests either a fine or imprisonment but not both, and the last option is a cease-and-desist remedy rather than a penalty.

More practice questions