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DC Real estate exam 2.1 questions and answers
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DC Real estate exam 2.1 questions and answers
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DC Real estate exam 2.1 questions andanswers
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 is a good
credit risk? - Answer -Buyer's income
A DC licensee whose license has been inactive may reinstate the license if certain
conditions have been met. Reinstatement must be requested within five years, must be
accompanied by a fee, and the licensee must provide ________. - Answer -Proof that
continuing education requirements have been met
Zoning regulations must be aligned with an area's ______. - Answer -Comprehensive
plan
Mario doesn't want to include a religious preference in his listing ad, so which of the
following phrases should he use? - Answer -Apartment available for members of
attached temple
Jamal is a real estate licensee. What's his responsibility regarding household lead
hazards? - Answer -He must remind the sellers to disclose the possible presence of
lead-based paint to a buyer if the home was built prior to 1978.
Appraiser Niles uses ______ to determine a range of values based on comparing a
subject property to comparable sales. He makes sure to use some comparables that
lack features of his subject property, and others that have even more desirable features,
to balance out the comparison. - Answer -Bracketing
Which of the following can indicate drainage problems? - Answer -Water that pools after
a heavy rain and is present more than 24 hours later
What is a legal description? - Answer -A description of the land that specifies the
boundaries and location of a specific piece of real property
, Which document is provided to borrowers no fewer than three days prior to closing and
provides details about the costs of the transaction? - Answer -Closing Disclosure
When it comes to paying or receiving compensation or commission in DC, which of the
following statements is true? - Answer -No brokerage activity-related compensation may
be paid to an unlicensed person.
Which of the following is true about title to a property? - Answer -Constructive notice to
the public of interest in a parcel of real estate occurs when the deed is recorded and
physical possession of the property is taken.
Rhonda is interested in putting money toward a timeshare estate, which would allow her
to use a condominium for two weeks each year. Timeshare estates ______. - Answer -
Can be sold or passed down to heirsCheryl wants new carpeting for her rectangular
living room. Her living room is 18 feet by 12 feet. How much carpeting does she need?
Cheryl wants new carpeting for her rectangular living room. Her living room is 18 feet by
12 feet. How much carpeting does she need? - Answer -216 square feet
The ______ provides administration and enforcement of federal fair housing laws. -
Answer -Office of Fair Housing and Equal Opportunity (FHEO)
The DC Real Estate Commission administrator has just put together a package
including a hearing notice, hearing transcript, copies of evidentiary documents, and the
commission's decision. This package is likely being prepared for what activity? - Answer
-Judicial review
The ease with which the property can be conveyed to another describes which factor
that influences value? - Answer -Transferability
What is a survey? - Answer -A professional, on-site measurement of the lot lines and
dimensions of a property
Violators of the Sherman Antitrust Act may be subject to fines. For what amount may
corporations and individuals be liable? - Answer -Up to $100 million for corporations and
$1 million for individuals
Corrine works for a small company that would like to start assisting their clients with real
estate transactions. The company is incorporated. What is true about the applicable
licensure category for Corrine's employer? - Answer -Companies can only be licensed
as brokers.
Roger just discovered that his loan includes a hidden balloon payment, so now he must
________. - Answer -Make one large final payment to pay off the principal
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