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DC Salesperson Exam with complete solutions
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DC Salesperson Exam with complete solutions
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DC Salesperson Exam with completesolutions
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 liability, consumers are paid in a ratio
proportional to their losses.
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
A buyer that Lydia worked with last year filed a complaint regarding her service, and
she's now preparing for a hearing with the DC Real Estate Commission. The
commission could ask her to participate in ______ prior to the hearing - Answer -A
settlement conference
Hannah is a new member of the DC Real Estate Commission. She's been told that the
first meeting is an organizing meeting, where the commissioners will elect a ________
as required by law. - Answer -Chairperson
Theodore was showing his buyer clients some homes in DC after he'd had lunch with a
colleague. He was clearly under the influence of alcohol, and his clients were concerned
and angry. They filed a complaint with the commission. Providing services while
impaired is a very serious offense, so it's a good chance that Theodore will receive a
________ as a sanction. - Answer -Revocation
Serena is accused of commingling trust funds from two different clients. She has a
hearing before the DC Real Estate Commission next week. If she is found guilty of two
separate license law violations, what is the maximum civil penalty that can be imposed
on her? - Answer -$10,000 fine
The commission does have the authority to impose civil fines on licensees, at a
maximum of $5,000 per violation.
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