DC Real Estate Exam Practice Test Questions & Solutions!! EXAM BUNDLE

Trina applied for inactive status for her DC broker's license when her son was diagnosed with leukemia four years ago. How long does she have to reactivate her license from the time it was made inactive? - ANSWER 5 years which entity provides budget and resource support to the DC real estate com...

In addition to disciplinary sanctions imposed by the DC Real Estate Commission, licensees may face a(n) ________ if the attorney general files for one in superior court. - ANSWER Injunction How often do DC real estate licensees contribute to the Guaranty and Education Fund? - ANSWER Upon initial ...

Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners - ANSWER The mayor Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw ...

DC Real Estate Law is created by - ANSWER The City Council and is enforced by the DCREC Commission consists of how many members? - ANSWER 9 members Commission members are appointed by the? - ANSWER Mayor with the advice and consent of the DC City Council Goal of the Commission - ANSWER To p...

Continuing education requirements for salespersons and brokers: - ANSWER 15 hours every 2 years, 9 hours of commission mandated courses and 6 hours of general electives Broker applicant qualifications: - ANSWER 2 years of experience and 135 hours of pre-licensing education

Generally, activities performed for others, for a ___, require a real estate license. - ANSWER fee Activities include - ANSWER listing or offering to list or sell real estate, selling or leasing real estate, and purchasing or renting, or offering to purchase or rent real estate. Certain activ...

Real estate law in DC created by... - ANSWER City Council How many members in DREC? Terms run? - ANSWER 9 (3 brokers, 2 salespersons, 2 property managers, 1 attorney, 1 consumer not in real estate profession)--must be in field for 5 years 3 years (max 3 consecutive terms) Must take DC test w...

In the District of Columbia, the real estate license law is administered by the a. Department of Housing. b. Real Estate Board. c. Washington, DC Association of REALTORS. d. Department of Housing and Urban Development. - ANSWER B. The Real Estate Board administers the real estate license law. ...

Jameson is coming up on his real estate license renewal date. How many hours of continuing education must he complete? - ANSWER 15 Colin was found guilty of a minor violation of DC license law. The commission decided that Colin needed remediation, which in this case likely includes ________. - AN...

When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? - ANSWER Never (Licensees should never offer legal advice to their clients—unless they also happen to be practicing attorneys.) In a real estate transaction, wh...

Based on DC's statutory reasons for eviction, for which of the following reasons can Don's landlord evict him from the house that Don rents? - ANSWER Don's landlord sold the house to Jeanette, who intends to live in it. What is a primary factor a lender reviews when determining if a borrower i...

Online disclosures must include: - ANSWER Firm's licensed name, city/state of main office, jurisdiction(s) in which the firm holds a license. Commission related violations may be subject to disciplinary action and fines up to ____ per violation. - ANSWER $2,500 Electronic documents are permis...

Relationship of parties - ANSWER When a dispute occurs, courts tend to favor tenants and buyers over landlords and sellers. What does obtaining a survey do - ANSWER Obtaining a survey will clearly define the property and its boundaries and will reveal any potential issues related to those boundar...

Five consumers won a judgment against a DC licensee for a total of $55,000. The consumers applied to the guaranty fund, and they discovered that they won't each receive full payment since the fund liability is limited to $50,000 per licensee. How will they be paid? - ANSWER When losses exceed the l...