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DC Real Estate Law Exam Questions and Answers
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DC Real Estate Law Exam Questions and Answers
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DC Real Estate Law Exam Questionsand Answers
District of Columbia Licensure Act was enacted by? - Answer -The City Council as an
exercise of the police powers of the city.
The Purpose of the DC Licensure Act is? - Answer -To protect the public interest
against incompetence.
In addition to the usual definition, Real Estate in DC includes? - Answer -1.
Condominiums
2. Leaseholds
3. Timeshare
4. Government owned property, and
5. Cooperative apartments.
How is the DC Licensure Act implemented? - Answer -The Mayor is the implementing
authority of the Act through the Department of Consumer and Regulatory Affairs via the
DC Real Estate Board (DCREB).
What is DCREB? - Answer -The District of Columbia Real Estate Board
What does the DCREB do? - Answer -The Board is responsible for:
1. Promulgating rules on education and other issues
2. Establishing fees
3. Deciding disciplinary action against licensees, and
4. Setting policy.
How many members are on the DCREB? - Answer -Nine
What is the composition of DCREB? - Answer -Nine members:
-3 real estate brokers
-2 real estate salespersons
-2 property managers
-1 attorney (who practices RE law)
-1 consumer member
,Who selects members of the DCREB? - Answer -Members of the DCREB are appointed
by the Mayor, based on their abilities, experience and interest in serving the public.
What are licensure and practice requirements of the DCREB members? - Answer -All
real estate members must be currently licensed in DC and the attorney member must
be barred in DC and engaged in the practice of real estate law.
Where and how often does the DCREB meet? - Answer -At the DCRA headquarters
building, every second Tuesday of the month.
Who supports the DCREB administratively? - Answer -3 DC government employees: 2
professional staff members and 1 clerical assistant.
What is the DCREB's ultimate responsibility? - Answer -To uphold and protect the
license law.
How does the Mayor select DCREB members? - Answer -With the advice and consent
of the City Council.
What is the term for DCREB members? - Answer -3 years, with new appointments
beginning February 28.
How long can DCREB members serve? - Answer -No more than 3 successive three-
year terms (or 9 years in a row).
Are there residence requirements for DCREB members? - Answer -Any person
appointed must have been a resident for at least one year immediately preceding
appointment and remain a resident while serving on the board.
Can DCREB members be removed? - Answer -The Mayor may remove any member at
any time for failure to maintain qualification, neglect of duty or incompetence (for
cause).
How is the DCREB Chairperson selected? - Answer -The Mayor elects the chairperson,
who then elects the vice-chair, or the person who will serve as chairperson in his or her
absence.
What authority does the DCREB Chairperson have? - Answer -The authority to sign all
official documents on behalf of the DCREB and is eligible for re-election for an
additional term as chairperson.
What's the difference between the DCREB and the DC Real Estate Commission? -
Answer -The Board is just the nine members and the Commission includes the two
professional support staff and the one clerical assistant.
, How often does the DC Real Estate Commission meet in public session? - Answer -
Twice a month.
What constitutes a quorum of the DC Real Estate Board? - Answer -A majority of the
number of positions and a majority of a quorum is deemed an action of the Board.
Are DC Real Estate Board/Commission records open to public inspection? - Answer -
Yes, under the DC FOIA.
Where can DCREB/Commission records be found? - Answer -At the
DCREB/Commission offices and the DC Office of Public Records.
The DCREB/Commission has the authority to do what (via the Mayor)? - Answer -1.
Issue licenses
2. Formulate Rules and Regs Implementing the DC License Law
3. Establish and enforce the Code of Ethics for licensees
4.Suspend, revoke or decline to renew licenses
5. Impose penalties of up to $2500 (or more with licensees permission)
6. Hold hearings
7. Administer oaths and issue subpoenas for individuals and documents
8. Seek DC Superior Ct assistance in enforcing subpoenas
9. Authenticate Board records for use in court
10. Waive the examination requirement for applicants who are licensed in states where
the requirements are similar to DC's
11. Grant reciprocity to any licensed broker or salesperson in any territory of the US
12. Approve schools for conducting authorized RE courses
13. License, authorize, conduct or sponsor real estate institutes, seminars, etc.
14. Set license fees
15. Administer the Real Estate Guaranty and Education Fund
16. Determine minimum and maximum balances for the Fund and order payment from
the Fund
17. Publish annual register of licensees
18. Publish annual list of licensees who've been disciplined in previous 3 years
19. Notify other jurisdictions of disciplinary action against licensees
What is the DCREB/Commission NOT responsible for? - Answer -1. Arbitration of
disputes between salespersons and brokers (Go to GCAAR)
2. Arbitration of disputes between brokers (Go to GCAAR)
3. Establishing commission rates or splits (these are always negotiable)
4. Standardizing listing agreements, contracts of sale, etc.--with the exception of the
agency disclosure agreement
Who is required to have a real estate license? - Answer -Any person, firm, partnership,
association or corporation, who or which, for a fee:
1. Sells, purchases, exchanges, leases, rents or collects rents
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