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DC State Portion Exam with correct Answers
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DC State Portion Exam with correct Answers
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DC State Portion Exam with correctAnswers
Who appoints members of the DC Real Estate Commission?
The commission executive director
The DC Council chairperson
The mayor
The outgoing commissioners - Correct Answers -The mayor
Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall.
Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer
on the property on his behalf. Jersey considers her personal interest in the property too
minor to bother disclosing it. Is this a violation of DC law?
No. Jersey must disclose that the buyer is her neighbor, but she doesn't need to
disclose her interest in the property.
No. Jersey need not disclose unless she holds at least a 10% interest in a property.
No. Jersey need not disclose unless she holds at least a 15% interest in a property.
Yes. Jersey must disclose any interest she holds in a property. - Correct Answers -Yes.
Jersey must disclose any interest she holds in a property.
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 ________.
Fines
Probation
Retraining
,Suspension - Correct Answers -Retraining
Phyllis has been working independently as a DC broker for six years and recently
decided that she no longer wants to deal with the paperwork or insurance requirements.
She's going to work as an associate broker for a colleague. What should she do next?
Call the real estate commission secretary
Courier a transfer application to the real estate commission
Notify the commission via a letter sent by certified mail
Submit a transfer application to the Division of Business and Professional Licensing -
Correct Answers -Notify the commission via a letter sent by certified mail
Which protected classes does DC's Human Rights Act add to those already protected
under the federal Fair Housing Act?
Age, marital status, personal appearance, sexual orientation, and gender identity or
expression
Age, marital status, personal appearance, sexual orientation, gender identity or
expression, family responsibilities, matriculation, and political affiliation
Age, sex, marital status, disability
Sex, disability, and religion - Correct Answers -Age, marital status, personal
appearance, sexual orientation, gender identity or expression, family responsibilities,
matriculation, and political affiliation
Which of these statutory duties of DC real estate licensees is included under the
broader duty of promoting the client's best interests?
Comply with all fair housing laws and regulations.
Disclose any material facts.
Seek out the best terms for one's client.
Treat all parties honestly. - Correct Answers -Seek out the best terms for one's client.
Dennis was surprised to learn that the DC Real Estate Commission isn't a completely
independent body, but is instead under the administrative oversight of ________.
The Better Business Bureau
,The DC Council
The DC mayor
The National Association of REALTORS® - Correct Answers -The DC mayor
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?
$10,000 fine
$20,000 fine
$5,000 fine
No fine - Correct Answers -$10,000 fine
Karen just received her real estate license in DC. She must renew her license on
August 31, 2019. What kind of license does Karen have?
Associate broker
Broker
Managing broker
Salesperson - Correct Answers -Salesperson
What is the current per-licensee maximum that can be collected from the DC Real
Estate Guaranty and Education Fund?
$20,000
$25,000
$35,000
$50,000 - Correct Answers -$50,000
In which of the following scenarios is a DC Seller's Disclosure Statement required?
Beth is selling a duplex.
Haley is selling a 12-unit midrise apartment building.
, Jaime is selling a building with three outpatient surgical suites.
Mina is selling warehouse facility. - Correct Answers -Beth is selling a duplex.
What administrative office uses planning, protection, and public education to promote
stewardship of DC's historic properties?
Historic Preservation Office
Office of Community Affairs
Office of Tax and Revenue
Office of the City Administrator - Correct Answers -Historic Preservation Office
Reba is selling a three unit property and makes an offer of sale to the tenants. Within
how many days must the tenants submit a statement of interest to exercise their right to
purchase?
15 days if the tenants are collectively exercising the right, an additional seven days if
tenants are acting individually
30 days if the tenants are collectively exercising the right, an additional 15 days if
tenants are acting individually
60 days if the tenants are collectively exercising the right, an additional 30 days if
tenants are acting individually
Seven days if the tenants are collectively exercising the right, an additional seven days
if tenants are acting individually - Correct Answers -15 days if the tenants are
collectively exercising the right, an additional seven days if tenants are acting
individually
As a DC licensee, which one of the following questions can Maya answer while
providing reasonable skill and care to her clients?
Do the wood shavings outside the basement window mean there are termites in the
home?
Is the mold in the basement the dangerous kind?
What are the property taxes for this property?
Will an investment in this property lower my income taxes? - Correct Answers -What are
the property taxes for this property?
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