Dcrec - Study guides, Class notes & Summaries

DC Real Estate Law is created by - ANSWER The City Council and is enforced by the DCREC Commission consists of how many members? - ANSWER 9 members Commission members are appointed by the? - ANSWER Mayor with the advice and consent of the DC City Council Goal of the Commission - ANSWER To protect the public from incompetent and fraudulent practices Commission member consists of? - ANSWER 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer Member Comm...

study Guide for DC Real Estate Law Exam Questions and Answers 2024 DC Real Estate Law is created by - CORRECT ANSWER-The City Council and is enforced by the DCREC Commission consists of how many members? - CORRECT ANSWER-9 members Commission members are appointed by the? - CORRECT ANSWER-Mayor with the advice and consent of the DC City Council Goal of the Commission - CORRECT ANSWER-To protect the public from incompetent and fraudulent practices Commission member consists of? - CORR...

DC Real Estate Law Latest Update with Verified Solutions Purpose of the DC Real Estate Commission To protect the public from incompetent and fraudulent practices Commission Members 9 members. 3 real estate brokers. 2 salespersons. 2 Property Managers. 1 attorney. 1 consumer member. Commission terms 3 years. Max of 3 consecutive 3 year terms commission membership Requirements Active license in DC. Actively engaged in their field at least for the 5 years prior to appointm...

DC Real Estate Law quiz 1 Latest Update 100% Pass A broker's license could be revoked for which of the following? Quoting a price below the listed price to a prospective purchaser. Members of the Real Estate Commission include: 2 licensed salespersons with at least 5 years experience One day after an exclusive right-to-sell listing agreement has expired, a salesperson who works for the listing broker buys the property. Which of the following is true in this situation? This is pr...

DC Real Estate Law Questions and Answe DC Real Estate Law is created by - ANSWER The City Council and is enforced by the DCREC Commission consists of how many members? - ANSWER 9 members Commission members are appointed by the? - ANSWER Mayor with the advice and consent of the DC City Council Goal of the Commission - ANSWER To protect the public from incompetent and fraudulent practices Commission member consists of? - ANSWER 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Es...

Real estaet law in DC is created by___________and enforced by_____________ - ANSWER-City Council; DC Real Estate Commission The DC Real Estate Commission is part of the________________________ - ANSWER-DC Department of Consumer and Regulatory Affairs DCREC... - ANSWER-creates the rules and regulations concerning real property and land interests including condos, co-ops, leases and time shares The DC Real Estate Commission has the authority to (3 things) - ANSWER-1. Issue or revoke licen...

DC Real Estate Law is created by The City Council and is enforced by the DCREC Commission consists of how many members? 9 members Commission members are appointed by the? Mayor with the advice and consent of the DC City Council Goal of the Commission To protect the public from incompetent and fraudulent practices Commission member consists of? 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer Member Commission Member Terms 3 year terms; maximum 3 c...

The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______. - $5,000 Joan began a court case against a DC licensee who misrepresented a property, resulting in a financial loss for Joan. At this point, does Joan need to make any notifications to the mayor? - Yes, Joan must notify the mayor within 30 days of the date she began her action DC licensee Jenna presented her evidence at a commission hearing held March 19. How long does the co...

Minimum and Maximum Balance of the Guaranty & Education Fund correct answers $1,040,000 $5,000,000 The certificate filed with the Real Estate Commission to license a real estate partnership must contain all of the following correct answers The names of the partners, The residence address of all partners The percentage of each partners ownership Misreprentation of a material fact which results in a loss is correct answers fraud If you do not agree with a penalty imposed by the DC Real...

DC Real Estate Law 2023/2024 Update with Complete SolutionsDC Real Estate Law 2023/2024 Update with Complete SolutionsDC Real Estate Law 2023/2024 Update with Complete SolutionsDC Real Estate Law 2023/2024 Update with Complete Solutions DC Real Estate Law is created by - ANSWER-The City Council and is enforced by the DCREC Commission consists of how many members? - ANSWER-9 members Commission members are appointed by the? - ANSWER-Mayor with the advice and consent of the DC City Council ...