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DC Real Estate Exam with complete solutions
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DC Real Estate Exam with complete solutions
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DC Real Estate Exam with completesolutions
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 permissible per the _____ - Answer -Uniform Electronic
Transactions (UET)
Difference between conversion and commingling? - Answer -Conversion: illegally using
money received.
Commingling: mixing client funds with personal funds or the firm's operating account.
Earnest money must be placed in an escrow fund within ___ days of receipt. - Answer -
7
Escrow accounts earn interest from the ____st day to the day the transaction is
completed or terminated. - Answer -91
The Commission on Human Rights conduct investigations of ____ - Answer -
discrimination patterns and complaints of discrimination in DC.
The Commission on Human Rights is made up of ___ commissioners who serve ____
year terms without pay. The are nominated by the major and confirmed by the city
council. - Answer -15 and 3
The ____ reviews complaints for probable cause before the Commission on Human
Rights conducts a hearing/passes judgement. The facts are presented to an ___ or
panel of ____ commissioners. - Answer -Office of Human Rights (OHR), administrative
law judge (ALJ), 3 commissioners
, Civil penalties for discrimination range from ___ to ___ which must be paid to the district
government. - Answer -$10,000 - $50,000
A property is exempt from some fair housing laws when the owner or the owner's family
occupy a living unit in a property that has: - Answer -4 families or fewer with a shared
kitchen/bathroom, or a duplex.
The sale/rental of a single-family home by the owner is exempt from fair housing if: -
Answer -The owner doesn't own more than 3 SFH, this exemption may be used only
once every 2 years.
TOPA : If there is a third-party offer and a tenant is interested, the copy of the offer must
be provided within ___ days if requested. - Answer -7 , additional information if
requested must also be provided within 7 days (itemized list of operating expenses,
utility consumption rates, and capital expenditures for the previous 2 years).
TOPA: If a tenant is interested in purchasing, a "statement of interest" must be sent to
the landlord and ___ within the statutory time frame. - Answer -mayor
TOPA: If a tenant organization exists, the statement of interest must be provided within
__ days after receiving the offer of sale. - Answer -30
TOPA: If a tenant organization doesn't exist, the statement of interest must be provided
within __ days after receiving the offer of sale. - Answer -45
TOPA: Single-unit tenants have ___ days to deliver the statement of interest. - Answer -
30
TOPA: 2-4 unit tenant organizations have ___ days to deliver the statement of interest. -
Answer -15
TOPA: Individuals have ___ days to deliver the statement of interest. - Answer -22
Only an _________ can purchase an accommodation with 5+ units. - Answer -
incorporated Tenant Organization
As of ____, SFH are exempt from TOPA, with the exemption of current tenants who are
elderly or have a disability. To qualify as a tenant, the elderly/disabled must have
entered into a lease by March 31, 2018 and occupied the property by April 15, 2018. -
Answer -July 3, 2018
Landlords in DC must obtain a housing business license to rent out their home, and a
___ - Answer -certificate of occupancy and register with the Rental Accommodation
Division (RAD).
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